Berkadia to expand at Key Tower

Unlike some other downtown Cleveland office tenants that have reduced
space or left downtown entirely, commercial loan originator Berkadia Com-
mercial Mortgage is expanding on the 14th floor of Key Tower, 127 Public
Square (Google). CLICK IMAGES TO ENLARGE THEM

By the end of this year, commercial loan originator Berkadia Commercial Mortgage will be showing off its greatly expanded offices on the 14th floor of Key Tower, 127 Public Square. And that expansion offers a couple of statements about Greater Cleveland’s economy in general and downtown Cleveland in particular.

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Blue Abyss may build $250m research center here

A conceptual rendering of Blue Abyss’ planned deep sea and space research,
training and test facility in Cornwall, United Kingdom. Reportedly, their
research center next to NASA Glenn Research Center in Cleveland
will be very similar in purpose and design (Blue Abyss).
CLICK IMAGES TO ENLARGE THEM 

A British company, Blue Abyss Diving Ltd., is pursuing the development of a new research center devoted to deep sea and space research in the Cleveland suburb of Brook Park on land next to NASA Glenn Research Center. The project, with a total estimated price tag of $250 million, could be one of the most significant business investments resulting from the presence of the NASA facility. It could also be nearly identical to a major research center Blue Abyss is building in the United Kingdom county of Cornwall.

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From Kyiv to Cleveland, art firm HQ moves

This public art installation is planned by the City of Cleveland and Dion
Art on downtown Cleveland’s malls and will feature 3D polygons with
artwork representing, from left, Ukraine, city of Cleveland, and the
United States It is one of many public art installations made, under
way or planned in Cleveland by Dion Art that is moving its head-
quarters and studios from Ukraine to Cleveland (Dion Art).
CLICK IMAGES TO ENLARGE THEM

Founded in Ukraine nearly two decades ago, Dion Art has been expanding thanks to stunning, innovative public art projects and a stabilizing, growing nation. When that growth slowed to a trickle a year ago when Russia began its all-out invasion of Ukraine, its founder and his friend made a choice — move Dion Art to Cleveland.

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Irishtown Bend Park stakeholders announce deal for George property

The George family-owned property at West 25th Street and the Detroit-
Superior Bridge in Cleveland’s Ohio City neighborhood will be rede-
veloped as a George-owned and operated restaurant as part of the Irish-
town Bend Park after an agreement was reached today (Freethink).
 CLICK IMAGES TO ENLARGE THEM

Partners working together on the transformational Irishtown Bend Park project have reached a tentative settlement agreement today following a lawsuit by an affiliate of the George family against the use of eminent domain to acquire their land for the project. Terms of the deal were not officially disclosed at this time but it appears to be a really good deal for the Georges.

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Seeds & Sprouts XXVIII – Seeds & Sprouts XXVIII – Big retailer to Steelyard, AJ Rocco's progresses, Hemingway bets on offices, Leather shop reno, Bakery to Euclid Ave

The Best Buy consumer electronics store at Steelyard Commons in Cleveland
will soon be a Ross Dress for Less department store, the fifth such store in
Cuyahoga County and the latest location for the nation’s third-largest
off-price retailer (Google). CLICK IMAGES TO ENLARGE THEM

Ross Dress for Less is opening at Steelyard Commons. AJ Rocco’s Restaurant & Bar renovation work progresses downtown. Hemingway Development bets on Midtown office spaces. TRD Leather gets new insides on the West Side. And a new bakery is coming to Euclid Avenue.

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It’s official: Lakewood Center West sells

Lakewood Center West, seen at left next to its big brother Center North
Apartments in downtown Lakewood, was sold to a New York developer
who intends to redevelop it with residential over retail (Google).
CLICK IMAGES TO ENLARGE THEM

While Lakewood waits on the Downtown Lakewood development, a mostly residential development could come to this inner-ring suburb’s former office and current retail district even sooner. According to Lakewood city officials and Cuyahoga County records, a Brooklyn, NY-based developer has acquired the seven-story Lakewood Center West at the northeast corner of Detroit and St. Charles avenues for $2.4 million. The developer told NEOtrans that they envision 60-70 apartments on the upper floors and will retain the ground-floor and basement commercial tenants.

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Cleveland Hts Cedar Lee Meadowbrook “A done deal”

Construction is due to start in “the coming weeks” on the Cedar Lee
Meadowbrook project in Cleveland Heights thanks to the wrapping
up of its financing in the past week (F&C/City of Cleveland Hts).
CLICK IMAGES TO ENLARGE THEM

The City of Cleveland Heights and its development partner, Flaherty & Collins Properties, announced the real estate and financial “closing” for the Cedar Lee Meadowbrook project, clearing the way for construction to commence in the coming weeks. It’s the second major project for the Indianapolis-based developer in the eastern inner-ring suburb of Cleveland.

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