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| This is Bedrock Real Estate’s masterplan for its 3.5-million-square-foot, $3.5 billion Cuyahoga Riverfront development in downtown Cleveland. The city approved a revised master development agreement to move forward with the new development (Adjaye Associates). CLICK IMAGES TO ENLARGE THEM. |
Yesterday, at its regular weekly meeting, Cleveland City Council voted to approve an updated and expanded Master Development Agreement (MDA) between Bedrock Real Estate and the city of Cleveland that serves as a guiding framework for Bedrock’s planned $3.5 billion riverfront development project. As one might expect, with such a large, multi-phase development, the project and its legal and fiscal frameworks are very complex. But the new frameworks helps spell out what is expected of each party.
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