Cleveland Amphitheater headlines riverfront’s next act

New renderings show the future Cleveland Amphitheater under the watchful eye of
the Lorain-Carnegie Hope Memorial Bridge from which it takes design inspiration
(Bedrock Cleveland, MKSK, DLR Group). CLICK IMAGES TO ENLARGE THEM.

Transformational changes are underway on Cleveland’s riverfront and the City Planning Commission will soon get a look at the next major phase of construction. Renderings were released this week of the Cleveland Amphitheater, a new venue that will reinvigorate the industrial Flats into a lively entertainment district.

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Cleveland Clinic’s Main Campus slide puzzle

Puzzles can hinge on one important piece. For the Cleveland Clinic, that piece is this — the
8700 block of Euclid Avenue where the Cleveland Clinic police station at right and the
Mellen Center at left are about to yield to the Clinic’s new Central Utility Plant (Google).
CLICK IMAGES TO ENLARGE THEM.

If you’re a health system earning $18 billion per year and you want to build a new bed tower where your aging Central Utility Plant sets, you move the utility plant. But if the place where you want to build a new utility plant has a police station and a neighboring multiple sclerosis care center, you move those uses, too.

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School buys more development land

The Urban Community School, at left across West 50th Street, acquired 10 parcels
of land at right including several structures along Lorain Avenue (Google).
CLICK IMAGES TO ENLARGE THEM.

At first glance, the property transaction doesn’t stand out. At less than 1 acre of land, it’s not a big piece of land. And the holding company that purchased the land was created with a unremarkable name the day before the deed transfer was signed.

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Buyer interest in 925 Euclid is high

Interest in the 1.45-million-square-foot 925 Euclid Ave. is high among potential buyers of the
property as it is at Millennia Companies which owns the building now and has sought to rede-
velop it as The Centennial (Sandvick). CLICK IMAGES TO ENLARGE THEM.

For a large, vacant, old building needing significant repairs before it can even host new occupants in a soft market, there is a healthy amount of interest in buying The Centennial, 925 Euclid Ave. in Downtown Cleveland. The difficulty in redeveloping the building resulted in a lender foreclosing on the property.

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Clark-Fulton, Stockyards rebuild with new infill

A new, replacement Clark PreK-8 School opened last fall on the north side of Clark Avenue,
welcoming students from the now-closed Walton Elementary School (Harrison Whittaker).
CLICK IMAGES TO ENLARGE THEM.

As Ohio City continues to see new construction activity, momentum is edging south into the adjacent Clark-Fulton and Stockyards neighborhoods, where vacant lots are giving way to the types of dense developments that support walkability and transit ridership.

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PNC has big plans for Downtown Cleveland

PNC Center, a 35-story, 46-year-old office tower in Downtown Cleveland is undergoing major
renovations and is activating its four-story annex at left, including adding several ground-floor
retail spaces along Euclid Avenue (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

It’s perhaps the best news for Downtown Cleveland’s troubled office market since 2020 when Sherwin-Williams announced it would build a new headquarters here. PNC Bank today confirmed to NEOtrans it will spend big on improving its own skyscraper — including adding new storefronts along Euclid Avenue.

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There is life after foreclosure Downtown

A good story is happening at the Fifth Third Bank tower in Downtown Cleveland after
the property fell into foreclosure under the prior owner. Building improvements and
new tenants are offering a new outlook for the 35-year-old building (LoopNet).
CLICK IMAGES TO ENLARGE THEM.

Fifth Third Bank tower shows there is life after foreclosure. Ownership of the 28-story tower, built in 1991 at 600 Superior Ave. in Downtown Cleveland, transferred in 2024 from Hertz Investment Group to its lender, an affiliate of Prime Group Finance of San Francisco.

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