Bedrock Riverfront Wins Greater Cleveland’s only TMUD

A conceptual rendering of Bedrock’s Rock and Roll Land hotel-topped entertainment
center at right, overlooking Collision Bend in the Cuyahoga River. Later phases of
the Bedrock’s riverfront development are seen to the left (Adjaye Associates).
CLICK IMAGES TO ENLARGE THEM.

It seems $100 million doesn’t go as far as it used to. At least it didn’t today when the Ohio Tax Credit Authority awarded $100 million in Transformational Mixed Use Development (TMUD) tax credits to just nine projects statewide. Northeast Ohio won two — Greater Cleveland got just one of those. And that was the last of four rounds of TMUDs authorized by the Ohio General Assembly unless some previous awards aren’t used and are made available.

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At best, federal funds for major projects on hold

Redesigning the Shoreway highway through Downtown Cleveland is a major infra-
structure project that recently was awarded millions in federal funds. The fate of that
and other funding to local infrastructure and energy projects may be in doubt due to
a 90-freeze and agency review mandated by the Trump Administration (FO).
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Millions, if not hundreds of millions of federal tax dollars awarded to local infrastructure and energy projects may be at risk from a 90-day funding freeze and review mandated earlier this week by the new Trump Administration. That possibility was raised today at the first board meeting of the year for Greater Cleveland’s metropolitan planning organization (MPO) which distributes federal funds to transportation and air quality programs.

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Cleveland Clinic to lay off 114 employees

The Cleveland Clinic Foundation is laying off employees throughout the global
health care system during rising costs in the healthcare industry (CCF).
CLICK IMAGES TO ENLARGE THEM.

For the first time in years, the Cleveland Clinic Foundation is laying off 114 employees throughout the global health care system. But the number of pending layoffs in the context of the scale of the system is comparatively small and hiring in other departments continues, Clinic officials said today.

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Catanese Seafood to sail from Flats to Collinwood

For 92 years, a seafood business has operated out of this riverfront location at
Merwin Avenue and Center Street in Cleveland’s Flats. That will come to an
end when Catanese Classic Seafood relocates to Collinwood in the coming
months. Cleveland Metroparks bought this building as well as the Grain
Craft flour mill, visible in the background at left in this wide-angle view.
Soaring overhead is the Detroit-Superior Bridge (Google).
CLICK IMAGES TO ENLARGE THEM.

A familiar face in Cleveland’s Flats district is packing up and heading to the city’s east side to make way for the Cleveland Metroparks’ expanding makeover of the Cuyahoga River waterfront. Catanese Classic Seafood, 1600 Merwin Ave., is making a move in the coming year to the Greater Cleveland Food Bank’s facility at 15500 S. Waterloo Rd.

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Blue Abyss inks deal with NASA Glenn

Commercial space training company Blue Abyss has signed an agreement with
NASA Glenn Research Center to provide astronaut training to the space
 agency (NASA). CLICK IMAGES TO ENLARGE THEM.

In a groundbreaking move for the commercial space sector, Blue Abyss has signed a Space Act Agreement with NASA’s Glenn Research Center. This collaboration aims to accelerate advancements in commercial space training, research, and infrastructure development, further positioning Blue Abyss as a key player in the global space industry.

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2025’s return to the office? It started in 2024

While there is hope in new office market data that the worst of the office glut is
over, real estate investors and lenders are cautious when considering support-
ing expansions, acquisitions or refinancings of office assets (Cresco).
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Although a variety of four-letter words have frequently been used to describe the office market since the pandemic, there’s a new one being uttered lately — “hope.” That word made its appearance in the latest Cleveland office market report by Newmark, one of the industry’s most respected collectors and analysts of real estate inventory market data.

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Bedford, UH reach settlement over hospital site

Bedford Hospital, now University Hospitals Bedford Outpatient Campus on
Columbus Road. As a city-owned property, it will become the subject of a
request for proposals for healthcare providers and other investors to
redevelop (Google). CLICK IMAGES TO ENLARGE THEM.

The City of Bedford has reached a settlement agreement with University Hospitals (UH) that includes the transfer of the former Bedford Hospital site and surrounding properties to the city and a $2.1 million payment. This settlement ends a two-and-a-half year legal dispute stemming from UH’s controversial August 2022 hospital closure.

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