real estate

Blue Abyss lands next to NASA Glenn

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A Cornwall, UK-based company called Blue Abyss Diving Ltd., has acquired land in the Cleveland suburb of Brook Park for a $250 million commercial astronaut training facility and hotel, according to public records and a press release from the company. According to an economic impact study commissioned from Kent State University, the British company’s investment here after 30 years could create or support up to 21,800 jobs, add $1.5 billion to residents’ incomes and increase total economic output by $3.6 billion.

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Cleveland, Berea construction firms unite

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The Albert M. Higley Co., a Cleveland-based provider of construction contracting services since 1925, announced today it has merged operations with T. Allen Incorporated of Berea. The parties said that they consider this to be a strategic union which marks a pivotal moment, consolidating two esteemed companies into a formidable force within the carpentry industry.

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One of Cleveland’s largest lakefront sites is now in play

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Turns out the sale of a large Cleveland lakefront property could be good news for a more livable shoreline, after all. The 62-acre former Lake Shore Power Station site just east of Downtown Cleveland, along with the 167-acre Eastlake power plant property and another in Oregon, OH near Toledo were sold last month by Energy Harbor Generation LLC of Akron to a firm that specializes in cleaning up and redeveloping former coal-fired power plant sites.

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Glenville civil rights site may become homes, park

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When the Cleveland Metropolitan School District put 19 former school properties up for sale in 2021, some of them had school buildings on them. Even those that didn’t anymore still had historical value to them. One of those was the former site of the Stephen E. Howe Elementary School in Cleveland’s Glenville neighborhood which was the scene of a fatal incident in the fight for desegregation of the school district.

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Cleveland development: what to look for in 2024 — University Circle

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Back when Cleveland was an industrial powerhouse, few wanted to live near its dirty, noisy industries. Today, its largest source of employment is the education and health services sector — a cleaner industry to which it’s attractive to live within a short walk or bike ride. It is centered in and near University Circle, surrounded by long-neglected neighborhoods. But investment has been coming into those places — Hough, Fairfax, Glenville, Cleveland Heights’ Top of the Hill, and East Cleveland’s Circle East — bolstering them as neighborhoods of choice.

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Cleveland development: what to look for in 2024 — Downtown

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For many in the real estate investment community, 2023 was the year when few new big projects were financed. The projects that were already financed under better, prior market conditions saw their construction advance, making the real estate landscape appear rosier than it really was. Now, however, as we enter 2024, there is a light at the end of the tunnel with developers already reviving or making new plans.

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Cleveland Lake Shore Power Plant land gets new owner

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It seemed too good to be true, and alas, it was. Title to a large, mostly vacant property for the former Lake Shore Power Station, 6800 S. Marginal Rd., in Cleveland, is being transferred to a new owner. The 62-acre site is across Interstate 90 from the bulk of Cleveland Metroparks’ lakefront improvements. But it’s not the Metroparks, the city or even a developer seeking to add recreation, housing or a mix thereof next to Lake Erie.

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Great Lakes Brewing confirms relocation options

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In a statement issued today by Great Lakes Brewing Company (GLBC), their chief executive officer confirmed NEOtrans’ report from last week that it is considering relocating its production facilities from Cleveland’s Ohio City neighborhood and packaging facility in Strongsville to a site in Avon. The press statement also confirmed it hasn’t ruled out continuing with its plans to relocate them to Scranton Peninsula in Cleveland’s Flats. And it will retain its Ohio City brewpub and gift shop. More than 200 jobs are involved among all of GLBC’s facilities.

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