real estate

Renovation starts on downtown’s Electric Building

With financing closed, construction work will begin in the next couple of weeks on the $40 million rehabilitation and conversion of the historic 700 Prospect Ave. office building into apartments, called The Electric Building. And now the ground-floor has the end user of its lone commercial space identified — Tom’s Watch Bar, a national chain sports bar founded in 2014.

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Feds search Sinito’s home; Owner of Millennia, Key Tower, apartments and restaurants

The private home of the owner of some of Cleveland’s most well-known buildings and restaurants was searched today by federal investigators and assisted by local police in an ongoing matter involving the U.S. Department of Housing and Urban Development (HUD). Frank Sinito and his wife Malisse reside at a mansion at 6736 Eagle Road in Waite Hill, in suburban Lake County.

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Cleveland Vibrator to be razed for apartments

In the coming weeks, demolition crews are due to level the fabled Cleveland Vibrator machine shop, 2828 Clinton Ave., in the Hingetown section of Ohio City for a large apartment complex. Site preparations for two new apartment buildings will take place over the winter with construction work to follow, said Jon Pinney, managing partner at the project’s developer TurnDev.

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Downtown Lakewood project nears final approval

To finally repurpose the site of the former Lakewood Hospital that was closed in 2016, plans for a proposed major development have one more hurdle at the city of Lakewood to clear before crossing the finish line. That last hurdle, City Council, will take up those plans next month. If they’re approved by the end of this year, construction could start by Spring 2025 on the $100-plus million development.

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