New Hough apartment complex for sale

The Axis at Ansel is next to University Circle which was named by USA
Today in 2021 as the “Best Arts District” in the country. The district con-
tinues to be recognized as a prestigious, yet accessible community to live,
 work and play (Colliers). CLICK IMAGES TO ENLARGE THEM

If there’s any building that shows the strength of the housing market in Cleveland’s University Circe, it’s the Axis at Ansel which is now for sale. Despite starting with two strikes against it, the developer hit a leasing home run. And now Signet Real Estate Group of Akron hopes to close out the game by selling the 163-unit apartment building and possibly use the sale proceeds for its next project in the booming area.

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Seeds & Sprouts XXIII — IMG moving, Flats South, Analiza, May Dugan, Mens’ Shelter expanding

IMG Group is reportedly moving from
one for-sale downtown Cleveland property
to another that’s also for sale (Hertz).
CLICK IMAGES TO ENLARGE THEM

In this article:

• IMG Group reportedly moving nearby
• Flats South redevelopment activity increasing
• Life sciences biz expands at Tyler Village
• May Dugan Center, Men’s Shelter expanding

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Bridgeworks design to be re-refined

This stone-built garage at the west end of the Detroit-Superior Bridge
in Cleveland’s Ohio City is proposed to be demolished to make way
for a 15-story mixed-use high-rise building here. But demolition plans
for the Bridgeworks tower were denied and its developers advised to
incorporate features from the Art Deco-designed garage into the plan
(Google). CLICK IMAGES TO ENLARGE THEM

Development team members of a proposed high rise in Cleveland’s Ohio City neighborhood are going back to the drawing board again. While this redesign may be less significant than the last one, done to bring Bridgeworks’ costs in line with available financing, its impact on the residential-hotel-retail project’s $60+ million budget is not yet known.

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Downtown sites to add retail sports betting

With a view toward the southeast corner of the Jack Cleveland Casino, this
rendering shows what the retail sportsbook in the downtown casino will
look like including video walls, betting windows, theater-style seating
and banquettes (Cupkovic). CLICK IMAGES TO ENLARGE THEM 

After Ohio legalized sports betting last December, several locations in downtown Cleveland are getting ready to compete in offering sportsbook retail venues where customers can place bets on a wide variety of sporting events. And they’re doing it before the Ohio Casino Control Commission has established the ground rules for making applications for up to 40 sportsbook licenses statewide.

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Bedrock hires ‘starchitect’ for Cleveland riverfront

World-renowned architect Sir David Adjaye, left, stands with Cleveland
Mayor Justin Bibb and Bedrock CEO Kofi Bonner at Cleveland City Hall
to announce further progress on Bedrock Real Estate’s plans for redeveloping
 the Cuyahoga River waterfront below Tower City Center (Bedrock).
CLICK IMAGES TO ENLARGE THEM

More evidence emerged today that the riverfront development of Tower City Center in downtown Cleveland isn’t some distant-future exercise of Bedrock Real Estate and instead is an active development project. That evidence was found in Detroit-based Bedrock hiring world renowned architect Sir David Adjaye OBE.

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Projects, projects, projects…

These are busy times for development teams in Greater Cleveland and
especially in the urban core. These three development projects were
submitted to the city last in one day week for eventual building permits.
They are, from left, The 70 apartments on East 70th Street in Midtown,
the Superior Mixed-Use Development downtown in the 2100 block of
Superior Avenue, and the West 73rd Street Apartments on its namesake
street in the Detroit-Shoreway neighborhood (Grassroots, Google,
Horton Harper). CLICK IMAGES TO ENLARGE THEM  

If it seems like there’s been a sudden increase in real estate development projects in Cleveland lately, you’re not alone. And last week, the city’s Building Department received applications for zoning reviews and eventual building permits of three decent-sized projects — in one day.

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Bedrock’s big riverfront project is active

Although a bit cartoonish, this conceptual imagery of the first phase of
Bedrock’s Tower City riverfront development appears to be higher
priority than previously reported. The roughly 300-foot-tall, 25-story
tower with a heavy emphasis on offices for Rocket Mortgage would
rise across Huron Road from Sherwin-Williams old headquarters
which is also the subject of private acquisition talks. This image was
extracted from a video regarding big urban core projects that are in
the works (GCP). CLICK IMAGES TO ENLARGE THEM

There is increasing evidence that Bedrock Real Estate is advancing more quickly in developing its downtown Cleveland riverfront development vision despite earlier information that it would take a longer-term approach there. There simply is more visible activity happening here compared to a site in the Gateway District where real estate investments were reportedly in planning but now appear on the back burner.

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