First reported by NEOtrans more than two months ago, the Playhouse Square Foundation announced officially today that it will begin work in June on converting half of the Bulkley Building, 1501 Euclid Ave., in downtown Cleveland into market-rate apartments. Additionally, the nonprofit community development organization also said it has converted the fourth floor of the Hanna Building, across the street at 1422 Euclid, into co-working spaces called Backstage at PSQ.
Wednesday, May 31, 2023
Monday, May 29, 2023
Getting Tower City on track
When you have an opportunity to expend the same or similar effort and money that would achieve the better of two outcomes, why not pursue the better outcome? That’s the decision Greater Cleveland has yet to make when looking at a transportation ingredient to two major waterfront development masterplans. One is the downtown lakefront development led by the Haslam Sports Group. The other is the Tower City Riverfront development led by Bedrock Real Estate. Both are supported by civic organizations and all levels of government.
Saturday, May 27, 2023
Voss factory conversion comes into focus
Legislation was introduced this week by several Cleveland City Council members to help finance the conversion of the abandoned Voss Industries plant, 2168 W. 25th St., in Cleveland’s Ohio City neighborhood into a mixed-use complex. The projected price tag to carry out the redo is at least $62 million. While the property’s owner and developer MRN Ltd. has been kicking around various ideas for reusing the property for the last couple of years, none of those concepts have advanced as far as this stage of nailing down its financing for a specific program.
Friday, May 26, 2023
Downtown project wins financing
With financing now in hand, look for demolition and construction work to start this summer for the Residences at Bolivar, 1060-1124 Bolivar Rd., in downtown Cleveland’s Gateway neighborhood. The work was made possible by Chicago-based JLL Capital Markets arranging $38.5 million in construction financing and co-general partner equity in the project from an affiliate of another Chicago firm, Leopardo Companies. JLL Capital Markets announced the financing in a written statement this week.
Thursday, May 25, 2023
Brownhoist lifts a new future
Some buildings are just walls, floors and a roof. Others have architecture, history and modifications that encourage visitors and tenants to crane their head or to look around each corner as they listen to their buildings’ curators tell stories and experiences about them. Its setting is among the reasons why the Brownhoist Building, 4403 St. Clair Ave., in Cleveland’s St. Clair-Superior neighborhood has become an idea-generating co-working space for artists.
Tuesday, May 23, 2023
Greater Cleveland: poverty amid plenty
Friday, May 19, 2023
Stokes West gets go-ahead
Developers of a large apartment complex in Cleveland’s University Circle could start construction of the $40 million project before August if all goes well in the coming weeks. That optimism was earned today after City Planning Commission gave the project final approval of its new, overhauled design and a zoning change to accommodate that design. The development is different from several others nearby because it isn’t trying to brush with or break through the top of the market when it comes to rents. Instead, Stokes West intends to offer smaller, more affordable apartments, many of them already furnished for new arrivals in Cleveland and from across the world.