The largest planned, single development in a century is proposed for Cleveland’s Hough neighborhood by reutilizing the huge site of the closed Martin Luther King Jr. High School, 1651 E. 71st St. On that 11-acre property bounded by Hough and Lexington avenues plus East 71st and 73rd streets, 310 housing units and two divisible commercial spaces are planned as part of a neighborhood destination.
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Several things have long slowed Cleveland’s post-industrial transition to embrace new economic drivers. One of the biggest is the lack of large, clean properties near existing labor. The city recently announced a $50 million land assembly program that could be boosted to $100 million with other funding. While some of that funding could come from the private sector, another source may well come from a new round of state funding to aid redevelopment, announced today.
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Many Greater Clevelanders have at least some familiarity with a place that could soon become home to many Greater Clevelanders. The owner of the former General Electric Lighting headquarters, 1975 Noble Rd. in East Cleveland, is preparing plans to convert several office buildings within the 94-acre Nela Park Campus into apartments and make those intentions known at a meeting of local stakeholders, possibly as early as this month, according to a source familiar with the project.
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Having too much office space, not enough housing inventory and tight private financing to address those conditions isn’t just a Greater Cleveland phenomenon. It’s a nationwide problem. So the federal government on Friday announced incentives to encourage the conversion of high-vacancy commercial buildings to residential use and develop surplus land owned by transit agencies.
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Sankofa Village will be adding its fourth, final phase in Cleveland’s Central neighborhood. An extra space just off West 48th getting more townhomes. One Midtown Luxury Townhomes seeks expansion. And Intro gains national beauty salon chain as tenant.
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Fourteen promising entrepreneurs from diverse backgrounds have been selected to participate in an innovative new real estate development program with a clear mission: to break down historical barriers and empower these individuals with the knowledge and tools needed to shape the future of Cleveland’s communities. The Cleveland Equitable Development Initiative, or CLE-EDI, will bolster the ranks of successful minority real estate developers in the region and to stimulate economic growth in the communities from which these entrepreneurs hail.
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In the midst of a global pandemic, state, local and Cleveland Clinic officials in 2021 announced the Cleveland Innovation District to expand health care research. Today, as part of that initiative, Cleveland Clinic unveiled the first phase of its expanded research facilities and announced plans to launch major construction of two new research buildings. The state-of-the-art facilities will be dedicated to scientific investigation and will significantly increase laboratory research space on Cleveland Clinic’s main campus.
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You’ve probably noticed this Cleveland Magazine logo and tag atop our articles in the past week. You’ll be seeing more of them. NEOtrans is excited to announce a new partnership with Cleveland Magazine, one of Greater Cleveland’s most important resources for the latest news on what’s happening around town in business, restaurants, government and from news-making people. It’s an opportunity for both organizations to tap into and share the latest news from veteran journalist and NEOtrans founder Ken Prendergast.
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Although still very early on in the development process, a Greater Cleveland real estate partnership is considering building a 24-unit multi-family development in Cleveland’s University Circle and has a target date of next August for breaking ground on it. The potential development site is across East 118th Street from Case Western Reserve University’s Nobby Ballpark and next to the old East Cleveland Township Cemetery.
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Long considered as the affordable and accessible place to live between downtown and University Circle, the Midtown neighborhood of Cleveland is starting to take off. Multiple development projects are under way or planned in this area, midway between two of Ohio’s largest employment hubs — the city’s central business district and its eds-and-meds hub. And a project that many consider to be the key to unlocking further development in Midtown is finally moving forward.
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