Woodhill Homes gets funding boost

Woodhill Center East, a 58-unit multi-family residential building in the
foreground and 19 rental homes in the background, are rising at 11305
Woodland Ave. But their construction costs are also rising as a result of
inflation and other pandemic-related disruptions. An additional $10
million in federal funds were awarded to cover those costs (CMHA).
CLICK IMAGES TO ENLARGE THEM.

To cover rising construction costs resulting from inflation and other pandemic-related disruptions, the U.S. Department of Housing and Urban Development (HUD) has awarded $10 million to the Cuyahoga Metropolitan Housing Authority (CMHA) and the City of Cleveland for the Woodhill Homes Transformation Plan. The funding is from a Choice Neighborhoods Supplemental Funding Grant to further support the development of replacement housing in Cleveland’s Buckeye-Woodhill neighborhood. HUD awarded similar funds to 15 other current Choice Neighborhoods Implementation Grantees to address their pandemic-related disruptions as well.

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Bridgeworks wins financing, start date

Thanks to the closing of a financing gap, developers of the long-planned,
15-story Bridgeworks tower at the northeast corner of West 25th Street
and the Detroit-Superior Bridge anticipate demolishing vacant buildings
on the site in June with construction following immediately thereafter.
In their place will rise a mixed-use tower with apartments, hotel,
offices, retail, parking and public spaces (MASS/LDA).
CLICK IMAGES TO ENLARGE THEM.

For more than two years, a planned high-rise at the west end of the Detroit-Superior Bridge in Cleveland’s Ohio City neighborhood has sought public funding to fill a financing gap. After missing out twice on tax credits from a statewide program, the developers looked closer to home and found the resources to start and finish construction. This week, the developers united under Bridgeworks LLC were awarded the final pieces of the fiscal puzzle to the $108 million project, allowing them to start work in June, they said.

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Greater Cleveland office market still struggling

Downtown Cleveland’s office market continues to struggle in the wake of
the pandemic that caused employees to work remotely, often from home.
Getting them back into the office may involve creating public incentives
to offset employers’ costs of adding more office amenities (KJP).
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Newmark, one of the world’s leading real estate services firms, issued its first quarter 2023 (23Q1) office market report for Greater Cleveland today and it continues to show a worsening situation in the region’s office sector. While only one submarket within Greater Cleveland showed an increase in office occupancies, none are taking it on the chin more than the central business district (CBD), its retailers, restaurants and transportation providers. But that data may have been disproportionately affected by a major deal.

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Treo opening doors on West 25th

 

Tenants are already moving their stuff into to Treo on West 25th
Street, where Tremont meets Ohio City, even as construction
workers put the finishing touches on the building and the
landscaping (KJP). CLICK IMAGES TO ENLARGE THEM.

Treo, named for where Tremont meets Ohio City, is the first of the big, market-rate apartment buildings to come to this no-man’s land part of town. Built on the site of a former auto repair and scrap yard business along a lesser-traveled section of West 25th Street, Treo’s first resident moved into the 171-unit property last week as construction work is substantially completed.

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Haslams envision glitzy new Berea future

Dallas Cowboys owner Jerry Jones’ Star District in the Dallas suburb
of Frisco, TX is reportedly the inspiration for Dee and Jimmy Haslam’s
planned expansion of its Cleveland Browns/Haslam Sports Group head-
quarters and practice facility in Cleveland’s suburb of Berea. While
this is a rendering, it shows what has been substantially built in
Frisco so far with much more planned (stardistrict.com).
CLICK IMAGES TO ENLARGE THEM.

The owners of the Cleveland Browns are trying to keep up with the Jones’. And the Kroenkes, Spanos’ and Wilfs, too. To do that means upgrading the Browns’ football facilities. But that isn’t limited to their downtown Cleveland stadium where the team plays games each Sunday in the Fall.

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Cleveland RTA reveals its new trains

Introducing the Greater Cleveland Regional Transit Authority’s new trains
that will operate on all rail lines and replacing one of the oldest rail car fleets
in the nation. The new trains, to be built by Siemens Mobility of Sacramento,
CA, will increase service reliability for passengers and reduce operating costs
for the transit agency (GCRTA). CLICK IMAGE TO ENLARGE THEM.

For the first time in four decades, Greater Cleveland is about to get a new Rapid. While NEOtrans revealed in January what type of new rail car Greater Clevelanders will be riding for the next two to three decades, that news was made official today by the Greater Cleveland Regional Transit Authority (GCRTA). Much more detail about the new rapid transit trains also was provided.

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Slavic Village properties back on market

The vacant, former Elgin Furniture store, 5217 Broadway Ave. in Cleveland’s
Slavic Village, is spread across five parcels and for sale along with another
vacant building at 5236 Broadway. A seventh parcel at 5311 Magnet Ave. is
owned by the same Columbus-based firm and next to the ex-Elgin site. That
site is across the street from The Rising, the largest development in Slavic
Village in 25 years (LoopNet). CLICK IMAGES TO ENLARGE THEM.

Seven high-profile properties along a short section of Broadway Avenue in Cleveland’s Slavic Village have hit the market after years of inactive ownership by a Columbus-based real estate firm. All of the properties except one which is an empty lot, have historic but vacant buildings on them. But the offerings are not publicly listed as available for sale by ME Real Estate LLC.

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