Projects OK’d for affordable housing loan, credits

An affordable apartment building similar to this one planned by Pivotal Housing
Partners in Buffalo, NY is sought by the same developer on West 27th Street in
Cleveland’s Clark-Fulton neighborhood. A second five-story senior housing

complex is also planned next door by St. Mary Development Co. (Pivotal).

CLICK IMAGES TO ENLARGE THEM.

In Cleveland, one east-side housing development and one west-side development are set to receive 4-percent Low Income Housing Tax Credits (LIHTC) from the Ohio Housing Finance Agency (OHFA). The agency announced that determination yesterday in a spreadsheet posted on its Web site. A third project won a $1.75 million OHFA loan, OHFA said in a written statement released today.

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JCU Gateway North project approved by city

University Heights City Council approved plans for the JCU Gateway North
development at Fairmount Circle and Warrensville Center Road (Vocon).
CLICK IMAGES TO ENLARGE THEM.

John Carroll University’s (JCU) transformative Gateway North project, a mixed-use retail and residential complex, has taken a significant step forward with approval from the University Heights City Council yesterday. Plans for the project had been under review by several city panels in this eastern Cleveland suburb for several months.

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Cleveland NWSL bid falls short, seeks future team

Cleveland has apparently lost out to Denver in landing the 16th expansion
franchise of the National Women’s Soccer League. But local backers of
the effort to land an expansion franchise said they haven’t given up
hope (CSG). CLICK IMAGES TO ENLARGE THEM.

Denver appears to have outbid its nearest rivals, including Cleveland and Cincinnati, for the 16th expansion team in the National Women’s Soccer League (NWSL). A Denver-based ownership group is reported to be exclusively negotiating a $105 million to $120 million fee to land the team — or roughly double the previous record high expansion fee of $53 million paid last year by a Boston group.

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Downtown Lakewood megaproject gets final OK

Construction is due to start in the second half of 2025 on the development of the
former Lakewood Hospital site in Downtown Lakewood. The project is expected
to deliver much needed housing, retail and community plaza space in the center of
this walkable inner-ring suburb (Dimit). CLICK IMAGES TO ENLARGE THEM.

Two panels of elected officials voted simultaneously last night to approve agreements authorizing the Downtown Lakewood development to start as early as Aug. 30, 2025. The $119 million mixed-use project will finally repurpose the former site of the city-owned Lakewood Hospital that closed in 2016 and has sat largely devoid of structures for five years.

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Large Midtown development planned

Planned between Euclid and Chester avenues in the East 40s is a large, mostly
residential development. This project takes its cue from the newly built Foundry
Lofts between Euclid and Carnegie avenues in the East 70th that leased out pretty
quickly. This view looks northwesterly from Euclid Avenue (Vocon).
CLICK IMAGES TO ENLARGE THEM.

A property transaction recorded last week by Cuyahoga County revealed an emerging development site that could host about 200 apartments in Cleveland’s Midtown neighborhood. The site, located between Euclid and Chester avenues in the East 40s, has been the subject of interest by multiple developers in recent years.

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A Browns stadium quid pro quo

An architect’s rendering of a mixed-use development surrounding a proposed,
enclosed, 67,000-seat stadium in suburban Brook Park. The $1.2 billion in
development would depend on the $2.4 billion stadium, which in turn would
depend on half of its funding being financed by public-sector sources (HKS).
CLICK IMAGES TO ENLARGE THEM.

Two years before Gloria Gaynor released her 1978 smash hit “I Will Survive” about recovering from a breakup, she released another song titled “Let’s Make a Deal” — referring to a marriage. In the coming days and weeks, we’re likely to hear more about a similar plot line albeit in reverse involving the proposed new stadium in suburban Brook Park.

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Ohio City housing emerging south of tracks

A private home was demolished earlier this year on Barber Avenue in Cleveland’s
Ohio City, just east of the BVQ Lofts seen in the distance that was delivered by
the same developer five years ago. Now the developer is turning his attention
to a new construction project on the vacant land on the north side of Barber,
west of West 25th Street and south of Train Avenue (Google).
CLICK IMAGES TO ENLARGE THEM.

An early indicator of an emerging real estate development is to see a request for unused public rights of way to be vacated. Another is a mass of properties being acquired by the same company in the same area. Yet another is to see decaying structures in that area be demolished. All three of those conditions are occurring on Barber Avenue at West 30th Street, at the south end of Cleveland’s Ohio City neighborhood.

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