Haslams acquire Brook Park land for stadium

Earlier this week, 179 acres of land in suburban Brook Park transferred to an affiliate
of the Haslam Sports Group for a new sports and entertainment complex that will be
the site of the Cleveland Browns’ home football games (Myplace.cuyahogacounty.gov).
CLICK IMAGES TO ENLARGE THEM.

Although the deed transfer was signed June 24, the document transferring 179 acres of land to an affiliate of the Haslam Sports Group for a new stadium in Brook Park didn’t become public until today. Nonetheless, this is the deal that helps set the stage for the construction of a new $3.6 billion enclosed stadium and proposed supportive development for the new home of the Cleveland Browns.

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Hough senior housing tests first new zoning in 96 years

At the southeast corner of Hough Avenue, left, and East 89th Street, CHN Housing
Partners plans to build Hough Senior Independent Living. This project was rapidly
approved by the city and improved in its design because it is located in one of Cleve-
land’s four new Form-Based Code zoning pilot areas (HD+S).
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Cleveland City Planning Commission today approved designs for a 55-unit affordable senior housing development in Cleveland’s Hough neighborhood. While that isn’t such a big story anymore, given the heightened pace of investment in this former poster child enclave of urban decay, it is when you consider the plans for this project were submitted to the city only in May.

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Development near Edgewater Park revived

A two-phase, 72-unit development is planned on Lake Avenue near Cleveland’s Edge-
water Park. A larger project was planned here previously but proved too expensive to
construct. The city’s new form-based zoning may allow this project to proceed
(Horton Harper). CLICK IMAGES TO ENLARGE THEM.

Three years ago, a team led by Beachwood-based Property Advisors Group (PAG) planned to build a large residential development at 8400 Lake Ave., overlooking Edgewater Park in Cleveland’s Detroit-Shoreway neighborhood. But with construction costs and interest rates rising, the timing wasn’t right. While costs are still high, the city’s new form-based zoning code may make a scaled-down project achievable and in a timely manner.

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Fenn Tower leads historic tax credit winners

A $50.4 million renovation of Fenn Tower at the east edge of Downtown Cleveland by
Cleveland State University got a big boost today by the Ohio Department f Develop-
ment when it awarded a maximum $5 million historic tax credit to the project (Google).
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Northeast Ohio did well in the latest round of Ohio Historic Preservation Tax Credit Program awards, garnering nearly half of all awards in terms of dollar amount and total number of projects aided today. By contrast, only one project in fast-growing Central Ohio was awarded historic tax credits by the Ohio Department of Development.

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Cleveland Clinic to nearly double Avon Hospital’s size

This simplified rendering, called a massing, shows only the scale and placement of pro-
posed structures at Avon Hospital. Their final design will change. This also doesn't
show a proposed parking garage or where it might be built. North is to the lower-left
corner of the image (Cleveland Clinic). CLICK IMAGES TO ENLARGE THEM.

To meet the growing demand for patient care on Cleveland’s west side, a growing Cleveland Clinic announced plans to significantly expand both Avon Hospital and Richard E. Jacobs Family Health Center. The $340 million project would nearly double the size of the campus, which is located just north of the Interstate 90-Nagel Road interchange in Avon.

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Ports of Cleveland, Shannon Foynes to link USA, EU

The routing of ships between Cleveland, Ohio, USA and Shannon Foynes, Ireland, EU
will be a direct route via the Great Lakes, St. Lawrence Seaway and North Atlantic
Ocean. That puts Cleveland closer to Ireland’s second-largest port than all of the
USA’s East Coast ports south of New York-New Jersey (Google).
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Officials from the Port of Cleveland have signed a strategic agreement with those of Shannon Foynes Port Company (SFPC), Ireland’s second-largest port operator, to strengthen trade ties and unlock new business and economic opportunities between the Great Lakes region and Europe.

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Sinito walks away from running Millennia

Key Tower is owned by and is the headquarters of The Millennia Companies, one of the
largest affordable housing property owners and managers in the United States. It is re-
ducing its affordable housing portfolio, expanding into market-rate multifamily pro-
perties and, this month, went through significant leadership changes (NEOtrans).
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Frank T. Sinito, founder of Millennia Companies, has stepped away from managing the day-to-day business of one of the nation’s largest owners and managers of affordable housing properties. In announcing this and other leadership changes, the company said it will be selling off parts of its affordable housing portfolio and expanding investments into market-rate housing.

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