renovation

Little Italy, Tremont townhouses planned

A Cleveland real estate firm that has been renovating homes in the metro area is entering the new-construction market by building new homes in Sandusky and seeking to construct new townhomes in two of Cleveland’s hottest neighborhoods. ParaPrin Construction, located on West 105th Street, wants to construct six new townhomes in Little Italy and Tremont if its vision passes muster with the City Planning Commission.

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Boost in historic tax credits benefits Ohio projects

Ohio announced state support for 54 rehabilitation projects that will restore 57 historic buildings across the state including eight redevelopment projects in Cleveland. According to state officials, the projects statewide are expected to leverage approximately $1.01 billion in private investment. The projects were awarded funding as part of the Ohio Historic Preservation Tax Credit Program (OHPTC), administered by the Ohio Department of Development. In total, 21 communities across the state are receiving awards, which total $64,132,847 in tax credits with $14.5 million of that going to Cleveland projects.

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McDonald Hopkins investing $8M in Fifth Third Center

After announcing its intentions to stay at its current offices in downtown Cleveland, McDonald Hopkins LLC is doing more than just staying put. Last week it submitted architectural documents to the city’s Building Department for an $8 million renovation of its headquarters site. The 92-year-old law firm had considered relocating to other buildings, both new and planned, real estate insiders said.

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Guardians suitor, real estate may not happen

According to sources, there is a reason why NEOtrans first started hearing a lot about Bedrock-HBSE joint development near the Gateway sports complex, and then heard nothing. That void was filled by new activity surrounding Bedrock Real Estate’s interest in the riverfront below Tower City Center instead.

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Bridgeworks design to be re-refined

Development team members of a proposed high rise in Cleveland’s Ohio City neighborhood are going back to the drawing board again. While this redesign may be less significant than the last one, done to bring Bridgeworks’ costs in line with available financing, its impact on the residential-hotel-retail project’s $60+ million budget is not yet known.

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TMUDs – taking more time

It’s going to be a little while longer before the developers of 42 projects, many of them megaprojects, across the state learn whether their project is going to win a golden ticket and get a big step closer to their own groundbreaking ceremony.

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Shaker Square apartments project revived

Citing a lack of a modern apartments at Shaker Square, Paran Management Company Ltd. is reviving its plan for constructing a multi-family building next to the historic mixed-use neighborhood center. But the plans come with a new angle — preserving the historic office and commercial structures at the southwest corner of Shaker and Van Aken boulevards.

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Ex-Westinghouse plant sold to developer

One of the most visible properties on Cleveland’s West Side is the former Westinghouse plant, as it towers over the West Shoreway near Edgewater Park. And it’s now in the hands of an investor who intends to redevelop the historic property into a mix of uses including residential, hotel, restaurant and commercial. News of a pending sale was first reported by NEOtrans in July.

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