real estate

Port OK’s $92M for Cleveland, Brecksville projects

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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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Capitol Theatre may need a new plot written

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It’s a tough time for the film industry, and an even tougher time for historic theaters like the Capitol Theatre, 1390 W. 65th St., trying to pay its bills. The 104-year-old venue in Cleveland’s Gordon Square Arts District has an uncertain future regardless of its owner trying to spin the creation of a Capitol Theatre Stewardship Board as “an exciting new chapter” in a press release issued today.

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Bedrock to add steam plant site to Riverfront plans

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If you like what Bedrock Real Estate has planned for its huge Riverfront Development in Downtown Cleveland, expect more of it at the site currently occupied by closed Cleveland Thermal steam heating plant, 2274 Canal Rd. That’s what public records reveal in the application for Ohio Brownfields Program funding that was awarded last week. But not all of the steam plant may be affected.

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Great Lakes Brewing Co. looks to the suburbs, again

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In the latest episode of “where are they looking now,” Great Lakes Brewing Company (GLBC) reportedly has its eye on a site in suburban Westlake near the Interstate 90-Columbia Road interchange for a new production facility. But the deal isn’t done and the city of Cleveland reportedly is striving to keep one of Ohio’s largest craft brewers in the city.

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Downtown’s historic Chancery Building to be renewed

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One of Downtown Cleveland’s oldest surviving buildings is about to see a structural renewal that also offer a more uplifting place for hundreds of people to work and visit. The Chancery Building, 1027 Superior Ave., was built in 1888 as a school but later was converted to offices. That use will be confirmed by a $15 million renovation.

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Downtown steam plant to be razed, redeveloped

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Eight redevelopment project sites won a total of nearly $18 million from the Ohio Department of Development’s Brownfield Program so the sites can be cleaned up and, in some cases, their existing structures are to be demolished. One of those where demolition is planned is the former Cleveland Thermal steam plant, 2274 Canal Rd., in Downtown Cleveland.

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Two new Hough developments sell for $30M

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In a $30.6M deal, a national real estate investment firm added 119 newly constructed apartments in Cleveland’s Hough neighborhood to its growing portfolio. New Jersey-based Reynolds Asset Management acquired Park Lamont, 9606 Lamont Ave., and The Lumos, 1866 E. 93rd St. Both are located a short walk or bike ride from jobs and classrooms in booming University Circle.

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