Commercial foreclosure business is booming

In Downtown Cleveland, multiple buildings in receivership can be seen from Euclid Avenue and
East 12th Street, starting with the reddish Statler Arms apartments. Not only is it in foreclosure,
but so is 925 Euclid at left and Reserve Square, seen in the distance at right. Recently, LIV
Cleveland, originally the Chesterfield Apartments next to Reserve Square, was in fore-
closure, too (Google). CLICK IMAGES TO ENLARGE THEM.

When a company expands in an already busy market, the inference is that the company expects the market to get even busier. Unfortunately, that may be the case with the commercial property market where foreclosures keep coming and more receivers are getting appointed by courts to hire real estate brokers.

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The 50+ acres in play next to downtown, but few are talking about it

There’s a lot to unpack in this photo at East 24th Street and Central Avenue. First is the Nurses
Home arched doorway, a survivor from multiple demolitions of St. Vincent Charity Hospital,
leaving a vacant lot at far left. In the center beyond the fence are piles of rubble from another
demolition, that of the Cuyahoga County Juvenile Justice Center. And at far right is a corner
of the 22-acre Olde Cedar public housing and may be demolished, too. Downtown Cleveland
is in the distance (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Mega-redevelopment sites are emerging all around Downtown Cleveland. There’s the 50-acre lakefront site that includes the to-be-demolished Huntington Bank Field. There’s the nearly 40-acre Bedrock Riverfront site. There’s the 62-acre ex-Lake Shore Power Plant site just east of downtown. And there’s the 450-acre site that now contains Burke Lakefront Airport.

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ODOT approves funding for several Cuyahoga County projects

Road and rail construction in Cuyahoga County will benefit from state funding approved this
week by the Ohio Department of Transportation’s Transportation Review Advisory Council.
In 2020, the Opportunity Corridor Boulevard was getting built above while the light-rail
tracks of the Blue and Green Lines were getting rebuilt west of Shaker Square (GCRTA).
CLICK IMAGES TO ENLARGE THEM.

On Wednesday, the Ohio Department of Transportation’s (ODOT) Transportation Review Advisory Council (TRAC) released its latest list of construction commitments for transportation infrastructure throughout the state. Over $60 million is allocated to four projects in Cuyahoga county expected to begin construction within the year.

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Settling into Sherwin-Williams’ new HQ

Employees are settling into Sherwin-Williams’ new headquarters tower, fronted by its
pavilion on Cleveland’s Public Square. And like any new building, they’re still working
out the kinks as evidenced by the HVAC contractor’s van parked out front (NEOtrans).
CLICK IMAGES TO ENLARGE THEM.

On any given day, you’re bound to see a contractor’s truck or a repair van parked outside of Sherwin-Williams’ brand-new headquarters on the northwest side of Public Square, in Downtown Cleveland.

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One of Cleveland’s oldest churches to close

The Immaculate Conception Church, at left, has stood on Superior Avenue
at East 41st Street for nearly 150 years. Its future is now uncertain. Its rectory
and school is at right (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Immaculate Conception Church, 4129 Superior Ave, opened its doors to a young, Irish immigrant-heavy parish in 1878 on Cleveland’s near-east side. But with later generations of its parish having fled to the suburbs over the ensuing decades, services at the early English Gothic structure are due to end May 24, 2026, possibly forever.

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Burke Lakefront Park options released

Burke Lakefront Airport could be repurposed into a lakefront recreation area offered with
several design options offering differing amenities in different locations on the huge,
400-acre site (Google). CLICK IMAGES TO ENLARGE THEM.

The City of Cleveland and the North Coast Waterfront Development Corporation (NCWDC) today released plan options and economic impact findings for a recreation-focused, low-density redevelopment concept for Burke Lakefront Airport.

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TOD signals future for Detroit Avenue

Depot on Detroit breaks ground to the west of GCRTA’s West Blvd-Cudell rapid transit
station, served by Airport-Downtown-Windermere Red Line trains (Harrison Whittaker).
CLICK IMAGES TO ENLARGE THEM.

Construction activity on Cleveland’s West Side is ramping up inside the Transit-Oriented Development (TOD) Zone — defined by the city as the land within a quarter mile (about a five-minute walk) of a high-frequency transit station. Developments within the zone are exempt from parking mandates, reducing construction costs and encouraging transit ridership.

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