Lakewood Spitzer site sold, groundbreaking this year

This view looking east at the south side of Detroit Avenue, east of Bunts
Road in Lakewood, shows what the former Spitzer car dealership and
Educators Music sites could look like by the end of 2023. Those pro-
perties sold last week to a developer that wants to construct apart-
ments and a small ground-floor retail space (Solove).
CLICK IMAGES TO ENLARGE THEM

Construction is due to start later this year on the first of two mixed-use developments on Detroit Avenue in Lakewood by a Columbus-based real estate firm. Solove Real Estate has weathered several significant challenges to get this far with one of its two proposed developments in Lakewood, with the other reportedly not far behind. Combined, the two projects represent a $43 million investment in the community.

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Busy Old Brooklyn corner ID’d for redevelopment

At the northwest corner of Pearl and Memphis roads in the heart of Old
Brooklyn are several neglected, historic structures that would be replaced
with a mixed-use development. The St. Luke United Church of Christ and
the Greenline buildings will be demolished if financing is secured for
affordable apartments and ground-floor commercial spaces at this
location (Google). CLICK IMAGES TO ENLARGE THEM

Financing could be secured this spring for the redevelopment of the northwest corner of Pearl and Memphis in the heart of Cleveland’s Old Brooklyn neighborhood. But a casualty of the investment would be the 119-year-old St. Luke United Church of Christ (UCC), 4216 Pearl and the Greenline commercial structures, 3426-34 Memphis, that range from 80-110 years old.

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TMUDs – taking more time

State officials said they need more time to decide which projects around
Ohio will win up to $100 million in tax credits from the new Transfor-
mational Mixed Use Developments program (LOC).
CLICK IMAGES TO ENLARGE THEM

It’s going to be a little while longer before the developers of 42 projects, many of them megaprojects, across the state learn whether their project is going to win a golden ticket and get a big step closer to their own groundbreaking ceremony.

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Downtown lakefront development may depend on removing the Shoreway

Haslam Sports Group, owners of the Cleveland Browns, seek construction
of this landbridge and conversion of the Shoreway into a boulevard to bet-
ter connect downtown with the lakefront. That and inclusion of a multi-
modal transportation center within the landbridge would support develop-
ment of the lakefront with public spaces, housing, hotels, offices, shops
 and restaurants (AoDK). CLICK IMAGES TO ENLARGE THEM

The fate of lakefront development in Cleveland appears to depend on whether local, regional and state policymakers want more traffic and for it to pass through downtown quickly or to have less traffic and for it to travel into the central business district more slowly.

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200 Public Square to get major updates, new amenities

Downtown Cleveland’s third-tallest building, 200 Public Square, is
facing multiple challenges in the 2020s. The owner of the building
is taking those challenges head-on by pumping millions of dollars
worth of improvements into the building so it can better compete
for tenants (KJP). CLICK IMAGES TO ENLARGE THEM

The pandemic, remote working, tenant downsizing and a flight to quality are challenges facing New York City-based DRA Advisors. In downtown Cleveland, they are fighting those challenges with a 37-year-old skyscraper, 200 Public Square.

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Downtown Gateway megaproject coming to light

This unofficial massing requested by NEOtrans shows the scale of a
potential Gateway District megaproject. The Bedrock Real Estate
portion alone (portrayed here by the two grayish-blue towers at left)
was described by sources as being larger than what was proposed
for nuCLEus. That doesn’t include the Harris-Blitzer Sports & En-
tertainment portion which could feature an apartment tower, seen
beyond the right field wall of Progressive Field (foreground).
This view looks north from Interstate 90 with Ontario Street
at left and East 9th Street at right (Ian McDaniel).
CLICK IMAGES TO ENLARGE THEM

Although the now-dead nuCLEus plan enticed us with its promise of a large-scale project for seven years, there are growing indications that a potential megaproject in downtown Cleveland’s Gateway District could be even larger. And hopefully it won’t tease Clevelanders for as long only to reach an unsatisfactory conclusion.

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Aging Shaker Square apartment complexes bought

Two eight-story apartment complexes just west of Cleveland’s Shaker
Square and across Shaker Boulevard from each  other were purchased
last week by a Chicago-area investor that typically invests in its pro-
perties to add value to them. One property is The Vista At Shaker
Square seen at far-right and the Shaker North Apartments seen in
the distance at far-left. This August 2021 view is looking east
along Shaker Boulevard toward Shaker Square (Google).
CLICK IMAGES TO ENLARGE THEM

Last week, a large, Chicago-area investment firm that reinvigorates multi-family properties acquired two aging, mid-rise apartment complexes on Shaker Boulevard just west of Cleveland’s Shaker Square for $12.4 million, according to public records. The buyer, AMG Realty Group of Skokie, IL, typically looks for faded, undervalued properties so it can update them and improve their management to boost occupancy and then re-sell them.

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