Housing study: Ohio rents rise faster than incomes, homelessness jumps

With rising construction costs, high interest rates and a lack of readily available building
sites, it’s a challenging environment for developers who are seeking to provide affordable
housing in Greater Cleveland. Skyline on Stokes in University Circle offers workforce
housing in a fast-growing district where most new housing is near the top of the market
rent-wise (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Homelessness and homeownership are both rising in Ohio, pointing to a mixed bag of housing market indicators that need to be either slowed or supported by state housing policies and programs.

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West Cleveland Target store to be rehabbed

The Target store on West 117th Street and Interstate 90 on Cleveland's West Side
has been a strong revenue producer for the retail giant. So the company is not
only retaining the store but investing millions to update it (Google).
CLICK IMAGES TO ENLARGE THEM.

Next year will be the 20th anniversary of the Target store at West 117th Street and Interstate 90 in Cleveland’s Westown neighborhood. And after two decades of pretty heavy foot traffic, it needs a freshening up.

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City View Lofts planned on Euclid Ave.

The next aging office building in Cleveland’s urban core that’s proposed to be converted
to residential is near the intersection of Euclid Avenue and East 30th Street. Because
of the adjacent Innerbelt highway, this building has a clear view of Downtown
Cleveland (Vocon). CLICK IMAGES TO ENLARGE THEM.

Plans were submitted to the city yesterday for the latest conversion of an aging, post-war office building near the intersection of Euclid Avenue and East 30th Street. But the proposed conversion at 2728 Euclid Ave. may come at a bargain price.

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Plans for new Cleveland community revived

A revised, conceptual plan and a new financial request is pending for the development
of for-rent townhomes at the site of the former Stephen E. Howe Elementary School
in Cleveland’s Glenville neighborhood (LDA). CLICK IMAGES TO ENLARGE THEM.

A planned development of affordable, for-rent townhomes announced nearly two years ago is back with a slightly revised plan and a request for public financial assistance to build the townhome community.

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Funds for St. Theodosius fire repairs needed

After the first phase of rebuilding St. Theodosius Orthodox Cathedral in Tremont,
this is what the building would look like. If enough funds are raised to help the
church recover from a May 28, 2024 fire, then the church’s distinctive domes
can be rebuilt (Bostwick). CLICK IMAGES TO ENLARGE THEM.

Cleveland’s Landmarks Commission today approved a two-phased plan to rebuild the fire-damaged St. Theodosius Orthodox Cathedral — not only to protect the church’s decoration-laden interior from the elements now, but to help revive the congregation’s stalled fundraising efforts for a full $17 million rebuild.

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It’s official: Lakewood Common groundbreaking ceremony is set

Across Marlowe Avenue from the Lakewood Common’s construction office, and behind
the historic Curtis Block, is where city, school and development team officials will gather
at noon Thursday for the official groundbreaking ceremony for the redevelopment of
the former Lakewood Hospital site. Site preparation was getting underway last
week (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Last week, NEOtrans was first to report that site preparation work was getting underway for the Lakewood Common redevelopment of the former Lakewood Hospital site. This week, we can report that the official groundbreaking ceremony is now scheduled.

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Tariffs may cut GCRTA railcar order by 10%

The Greater Cleveland Regional Transit Authority’s new railcars will start coming off
the assembly line in California next year. But some of the components are manufactured
overseas and subject to new federal tariffs, thus increasing costs of the final product. This
image shows some of the Siemens railcar’s features but are not necessarily which ones
are subject to tariffs (Siemens Mobility). CLICK IMAGES TO ENLARGE THEM.

For the first time in more than four decades, the Greater Cleveland Regional Transit Authority is replacing its rapid transit trains — the oldest fleet of railcars used by any U.S. transit agency. But that rare $450 million opportunity to modernize its rail system could end up 10 percent short of its goal.

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