Cleveland City Planning Commission today approved a conceptual design for Case Western Reserve University’s new Humanities Building and to demolish an abandoned fraternity house at 11333 Bellflower Rd. to make way for it. Most of the rest of the roughly 1.6-acre site in University Circle is used as a parking lot.
Read MoreCWRU Humanities Building planned on Bellflower Read More »
Faced with a difficult financial situation involving multiple development projects nationwide, City Club Apartments of Farmington Hills has sold its interest in the nearly completed 23-story mixed-use tower at 776 Euclid Ave. in Downtown Cleveland. The buyer was its primary financial backer, Detroit-based Finance Michigan. And, as a result of the change, the building will be rebranded as “Skyline 776.”
Read MoreCity Club Apts has new owner, Skyline 776 name Read More »
Commercial real estate and construction interests hailed Cleveland Mayor Justin Bibb’s signing of an executive order today to simplify and speed up the construction permitting process at City Hall. Bibb was quick to point out that this reform will affect small projects by homeowners as well as downtown skyscrapers. However, it could take up to a year before all of the approved changes are implemented.
Read MoreCRE industry lauds Bibb’s construction permit overhaul Read More »
One week after the Cuyahoga Land Bank completed a $3.5 million renovation of the Mickey’s building, 12550 Euclid Ave., in East Cleveland, it announced the sale of the building to Verdynt Bio, a Boston-based science facility developer with strong ties to Ohio. Verdynt Bio’s operations partner, SKYLIIT Labs, said it plans to invest more than $12 million into the site to create 100 jobs in a state-of-the-art laboratory and office co-working space.
Read MoreBiotech biz plans $12M investment in East Cleveland Read More »
In a 30-acre area of targeted investment called the Circle East District, located in East Cleveland, the Cuyahoga Land Bank announced it has completed major features of its first phase to revive the neighborhood. The multi-phase $95 million effort led by the Cuyahoga Land Bank to rebuild the neighborhood from the sewers up began two years ago. However, a commercial component to the redevelopment has hit a legal snag.
Read MoreCircle East improvements continue, more due Read More »
In a long-planned redevelopment, the renovation of a vacant and vandalized 10-story apartment building at the east end of Cleveland’s Hough neighborhood finally has the green light to start work. That green light came today as $47 million in financing closed for the project and construction is due to start before the end of this month.
Read MoreHough renovation secures financing, start date Read More »
After a successful inaugural effort of the Cleveland Equitable Development Initiative (CLE-EDI), the Cleveland Development Advisors (CDA) didn’t waste any time at all in deciding to pursue a second round of competitions. Applications open today for the CLE-EDI which aims to level the playing field for historically excluded developers of color.
Read MoreLet’s do another one! Cleveland entrepreneurs of color to compete again Read More »
Ohio Gov. Mike DeWine said he is eager to sign the largest capital budget in the state’s history. This $4.2 billion goody bag of Senators’ and Representatives’ gifts to their constituents was passed yesterday, resulting from a strong economy and robust tax revenues that fed a record budget surplus. In that goody bag are things ranging in size from $2,250 for the Solon Innovation Center to $20 million for Downtown Cleveland’s North Coast Connector land bridge.
Read MoreOhio Capital Budget’s Cuyahoga County projects Read More »
While only one proposed affordable housing development in Cuyahoga County was awarded the coveted 9 percent Low Income Housing Tax Credits (LIHTC) from the state, four others in the county got conditional approval, putting them in a good position to get financing in the near future. All five developments, if built, would add 247 total units of affordable housing in the county.
Read MoreCleveland-area affordable housing wins financing Read More »
A partnership with the Cleveland Clinic has prompted a four-year-old biotech startup to relocate its headquarters to Cleveland from Durham, NC, one of the points of the Research Triangle. However, Lamassu Pharma, LLC, has yet to identify the location of its offices. The small firm hopefully will one day grow into a force for positive change in the pharmaceutical industry.
Read MoreBiotech startup moving HQ to Cleveland Read More »
