Two buyers getting nine apartment buildings

The largest single property that’s about to transfer to a new owner is the Van Aken
Crossing Apartments spread among three buildings on Van Aken Boulevard and
the light-rail transit Blue Line near Shaker Square in Cleveland (LoopNet).
CLICK IMAGES TO ENLARGE THEM.

Ownerships of a total of 177 apartments spread among nine buildings clustered together in two locations on the east and west sides of Cleveland are about to transfer to out-of-state buyers, public records show. While it’s too early to say what that may mean for the futures of those properties and their neighborhoods, they bear watching.

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Hough, Stockyards apartments’ financing closes

Hough Senior Living, on Hough Avenue at East 89th Street, is one of many significant
developments moving forward in this neighborhood, once a national posterchild of
urban decay (HD+S). CLICK IMAGES TO ENLARGE THEM.

In less than one week, NEOtrans has shared news of multiple significant developments in Hough making progress with a fifth project now moving forward. But the West side need not feel left out, as Cleveland-based CHN Housing Partners announced a west-side project closed its financing this week, too.

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Cleveland Clinic plans Level 1 trauma center

The Cleveland Clinic’s new Neurological Institute on Carnegie Avenue will, among other
services, help the Clinic gain a Level 1 trauma center as early as 2028. But the 1-million-
square-foot neuro building is expected to open in February 2027 (NEOtrans).
CLICK IMAGES TO ENLARGE THEM.

Expansion of the Cleveland Clinic’s Main Campus Emergency Department and the addition of its new Neurological Institute may help Greater Cleveland gain its third Level 1 trauma center as early as 2028 and relieve pressure on the region’s existing Level 1 centers. But not everyone agrees to the need.

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Reese Consumer Health seeks Opportunity

A new office building and production facility on Woodland Avenue near the Opportunity
Corridor for Reese Consumer Health will allow the company to take advantage of growth
opportunities (Bialosky). CLICK IMAGES TO ENLARGE THEM.

Last year, Cleveland-based Reese Pharmaceutical rebooted its business and changed its name to Reese Consumer Health. Next year, the company plans to change its headquarters-production location. And in subsequent years, it hopes those efforts will expand its business and add new jobs.

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Developer ID’d for Euclid Avenue project

Property owner The Cleveland Foundation has reached a letter of intent with Signet Real
Estate Group to develop land at the northeast corner of Euclid Avenue and East 71st
Street in Cleveland’s Hough neighborhood. This is an early conceptual rendering
of what is envisioned here (TCF). CLICK IMAGES TO ENLARGE THEM.

The Cleveland Foundation says it wants to do for East 71st Street at Euclid Avenue what it has done for East 66th Street — transform it. From the foundation’s perspective, that requires demolishing a structure from the city’s industrial past. And the Cleveland Foundation will reveal this Friday a vision of that next transformation.

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Lakeside development edges toward water

The former Westinghouse plant on West 58th Street awaits a $59.3 million redevelop-
ment (Harrison Whittaker). CLICK IMAGES TO ENLARGE THEM.

In Cleveland’s Detroit-Shoreway neighborhood, a slew of residential and mixed-use developments are set to transform the area south of Edgewater Park.

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More new stuff for Cleveland’s Hough

Now 20 years in the making, this vacant lot on Chester avenue, between East 81st and 82nd
streets in Cleveland’s Hough neighborhood, is finally seeing construction on a major new
residential development (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Each new year is a chance to start anew, and three major projects along Chester Avenue in Cleveland’s Hough neighborhood are taking that opportunity by starting construction. But none is bigger than a project that’s been 20 years in the making.

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