 |
| Construction is moving along on the high-rise Farnsleigh Apartments at the Van Aken District in Shaker Heights at the end of the light-rail Blue Line. Many housing developments are planned at or near rail and bus rapid transit stations in Greater Cleveland to address a housing shortage but tight lending and high interest rates have slowed the start of new projects. New guidance for existing federal financing could free up new lending. (KJP). CLICK IMAGES TO ENLARGE THEM. |
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.
No comments:
Post a Comment