real estate

New Downtown Lakewood plan, grocery store announced

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Sitting dormant since Lakewood Hospital closed in 2016 and was demolished in 2019, a 6-acre city-owned site in Downtown Lakewood has a fresh strategy and a new tenant to finally reactivate it. While that strategy and a new tenant, a neighborhood grocery store, was enthusiastically received by City Council members at a committee meeting tonight, it remains to be seen whether it can overcome financing hurdles affecting it and all other projects nationwide.

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Tower City’s Astro lifts off tomorrow

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Yes, a new restaurant at Tower City Center in Downtown Cleveland really is out of this world. And The Astro Restaurant is going to lift off at 11 a.m. tomorrow, one block from the neighboring RocketMortage offices. But since the restaurant will be open only for dinner, it may prove to be popular for people attending evening events at the RocketMortgage FieldHouse just down the street.

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Sherwin-Williams: already outgrown its new HQ

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With the completion of Sherwin-Williams’ new Downtown Cleveland headquarters tower delayed well into next year, the global coatings giant has a some extra time to consider its options on how to handle various aspects of its unanticipated growth. Since the company has already outgrown its new HQ before it is finished, that means weighing a second HQ tower, expanding remote work, as well as addressing parking and commuting options.

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Progressive Insurance puts offices up for sale

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Although the global insurance provider cautioned that this day was coming, it doesn’t make its arrival any easier. Mayfield Village-based Progressive Insurance has announced that it will offer for sale millions of square feet of office space here in Greater Cleveland and around the country. This comes at a time when nearly every office-based employer is shedding office space in favor of remote work, too.

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Park Place Tech seals HQ deal

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After a year-long search for a new headquarters, Park Place Technologies has closed on its deal to acquire Progressive Direct Insurance’s Alpha Campus in Highland Heights. Consummation of the purchase agreement sets the stage for renovating the multi-building campus and ultimately relocating to it 500 headquarters employees from neighboring Mayfield Heights. Warehouse operations in Solon will also be consolidated on the new site.

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Phase 2 awaits: Innovation Square, Fairfax Market

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Two mixed-market-rate apartment developments that just opened along East 105th Street in Cleveland’s Fairfax neighborhood have phase-two projects proposed. But construction on the pair of follow-on projects may not occur for a year or more as lending remains tight and leasing activity has been uneven. But things could accelerate next year after interest rates fall and hiring starts for thousands of permanent jobs at several large Cleveland Clinic buildings under construction nearby.

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Cleveland’s Greyhound/Barons Bus station futures

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While city-to-city bus services have vacated traditional downtown stations for remote, curbside boarding locations in Ohio cities like Cincinnati, Columbus and Dayton, Cleveland travelers may be spared that treatment in a plan being worked out with the city. But city planners and advocates say the long-term station site may be a new multimodal transportation center linking all modes of intercity and intracity transportation elsewhere in Downtown Cleveland.

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Fairview Hospital unveils North Campus options

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At a community meeting this evening at Fairview Hospital, Cleveland Clinic Foundation officials showed five design options for developing a new clinical building containing the Moll Cancer Center and medical offices plus a new parking garage on Fairview Hospital’s North Campus, north of Lorain Avenue. While there were some variations in the scale and shaping of the clinical building, the greatest difference between the options was where and how to construct a new parking garage or three.

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