Downtown townhomes sell to out-of-state investor

For nearly $6 million, the 16-unit, for-rent Milton Townhomes sold
to an investor from Tulsa, Okla. who is acquiring properties of
similar value in markets throughout the United States (KJP).
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Yesterday, a 16-unit townhouse complex on the east side of downtown Cleveland and built five years ago was sold to an out-of-state investor. The buyer, Milton Townhomes LLC, acquired the for-rent townhomes and their 0.4-acres of property for just under $6 million from Jobu Needs A Refill LLC — referring to a line from the 1989 sports comedy movie Major League about the Cleveland Indians.

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Large apartment building planned in Lakewood

In addition to the redevelopment of the Phantasy Theater on Detroit
Avenue in Lakewood into Studio West 117, its developers would
like to construct a large apartment building on the site of the closed
National Tire & Battery service center seen at left in this August
2019 view. A few months after this photo was taken, the NTB
shop closed and was put up for sale. (Google).
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Site is across the street from Phantasy Theater

One of the surprise applicants to a new ‘megaprojects’ tax credit program was the Studio West 117 development, a project now under way at the east end of Lakewood. Until the tax credit applications were submitted Oct. 29 to the Ohio Department of Development, public information about the project showed it was limited to renovations of historic buildings.

Now, a significant new-construction apartment building for seniors is being added to the $75 million planned revitalization those historic structures into a hub of entrepreneurship, arts, culture, health and human services for Cleveland’s LGBTQ+ community.

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Ohio City project’s rejection to be appealed

Knez Homes’ second try at building townhomes on Bridge Avenue
in Cleveland’s Ohio City neighborhood met the same rejection by a
planning panel as the first, despite making changes so it would
meet zoning code requirements. The developer said it would
appeal the rejection through the courts (Knez).
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Despite meeting the requirements of the city of Cleveland’s existing and proposed zoning code, a planned townhouse development for the Ohio City neighborhood was shot down by the City Planning Commission. It is the second time a townhouse project by the same developer at this location was rejected by the same panel.

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Big commerce park planned for Slavic Village

A large warehousing, distribution and logistics development called
Commerce Park 77 is planned for Cleveland’s Slavic Village neigh-
borhood. It could add hundreds of jobs and hundreds of thousands
of square feet of new warehousing space on the east side Interstate
77 that’s accessible to labor including from the Broadway Avenue
transit corridor. This image is an example of the type of large-
scale warehouse structures planned for the site (ULI).
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Due in part to the explosive growth in e-commerce, developers can’t build warehousing, distribution and logistics centers in Northeast Ohio fast enough to meet demand. The challenge for shippers, investors and community development officials is to find sites big enough and close enough to existing transportation routes and customer markets, as well as to an existing workforce.

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Nine of 42 TMUD applications are from Greater Cleveland

Applications to the Ohio Department of Development’s
new Transformational Mixed Use Development tax
credit program were submitted last week that could
put more construction cranes over Ohio’s largest cities
and even some smaller municipalities. NEOtrans re-
ceived a list of applicants today and is sharing that list
lpublicly (CurbedLA). CLICK IMAGES TO ENLARGE THEM

Responding to a public records request from NEOtrans, the Ohio Department of Development supplied to NEOtrans a complete list of all applications to the new Transformational Mixed Use Development (TMUD) tax credit program. Project applications had to be submitted to the state at the end of the business day Oct. 29. There are a lot of numbers to break down in the applications.

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MidTown seeks partner for ambitious Euclid-East 55th rebirth

The intersection of Euclid Avenue and East 55th Street was
one of Cleveland’s most densely developed urban nodes. That
is, until post-war urban sprawl, white flight and deindus-
trialization drained the city of more than half of its population.
MidTown Cleveland Inc. is undertaking an effort to help
reverse that trend and re-energize this once-vibrant urban
node (MTC). CLICK IMAGES TO ENLARGE THEM

MidTown Cleveland Inc. wants to restore much of the density and vibrancy at what was once among the city’s most important intersections. It is requesting a development partner to help it achieve that goal.

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Ex-Westinghouse plant sold to developer

One of the impossible-to-ignore landmarks on Cleveland’s West
Side is the former Westinghouse plant which towers over the West
Shoreway near Edgewater Park. But the vacant monolith could
soon regain signs of life under a new owner with deep pockets
who wants to redevelop the property (Google).
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One of the most visible properties on Cleveland’s West Side is the former Westinghouse plant, as it towers over the West Shoreway near Edgewater Park. And it’s now in the hands of an investor who intends to redevelop the historic property into a mix of uses including residential, hotel, restaurant and commercial. News of a pending sale was first reported by NEOtrans in July.

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