A local real estate developer who has been involved in multiple, well-known projects is going to be getting busier after getting hired as a vice president of Independence-based brokerage and analytics firm Cushman & Wakefield – CRESCO Real Estate.
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While revitalization efforts since the 1990s have transformed Cleveland’s Ohio City into a vibrant urban destination, the demolition of vacant, abandoned, and fire damaged homes has scarred some blocks with empty lots. Construction of new “infill” development in the SoLo (South of Lorain) neighborhood is restoring the south side of Ohio City to its former glory — and in theory, creating an immediate source of property tax revenue.
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While new construction is often the most visible sign of development activity in a neighborhood, a trio of renovation projects is restoring historic structures in the heart of Cleveland’s Ohio City neighborhood with new retail spaces and modern amenities.
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Ten redevelopment projects in Cuyahoga County were awarded historic preservation tax credits today by the Ohio Department of Development. In total, those represent nearly one-third of all winning projects statewide and two Cleveland projects won the $5 million maximum of historic credits.
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The Cleveland-Cuyahoga County Port Authority’s Board of Directors today approved financing actions supporting two of Cleveland’s long-proposed major redevelopment projects. And it also approved a land transfer today to advance the Irishtown Bend Park in Cleveland’s Ohio City neighborhood.
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In Greater Cleveland, there’s new life in the townhouse market after a recent slump. And in the City of Cleveland, there’s a new builder tapping into that rekindled market interest in new and remodeled townhouses.
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A trio of projects — two in Cleveland and one in Brecksville — got a total of $92 million in financing approved by the Port of Cleveland to help get them closer to construction. Two are mixed-use housing developments in Cleveland totaling 355 residential units. The third is a new, 136-room AC Marriott hotel at Valor Acres, the former Veterans Administration (VA) Hospital site in Brecksville.
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While the development team for the $84 million mixed-use Bridgeworks project in Cleveland’s Ohio City neighborhood is finalizing construction permits with the city, the team decided to take a step that could accelerate the project and get it underway sooner.
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An annual report by the Cuyahoga County Planning Commission released this week showed that Transit Oriented Development in the county reached an all-time high in 2024. But 92 percent of countywide TOD activity is occurring in the city of Cleveland. And only four of 26 communities along high-frequency transit routes and walksheds, called TOD corridors, had a TOD project in the past six years indicating a lack of suburban activity.
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Two transformative projects — a nearly $50 million West Side Market overhaul and a $44 million Superior Arts District mixed-use project — received significant financial support today from the Port of Cleveland following their approval by the board of directors.
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