45 Erieview sale, financing closes

The only completely dark building in this downtown Cleveland view
from North Coast Harbor last June is the vacant, 16-story, 45 Erieview,
roughly in the center of the picture. But the lights are going back on
soon now that the building has a new owner and fully financed plan
to redevelop the former office building into apartments, co-working
spaces and restaurants (KJP). CLICK IMAGES TO ENLARGE THEM

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A zombie is about to be slayed thanks to a property transfer and a development partnership that got good news this week. That zombie is 45 Erieview, the former Ohio Bell headquarters in downtown Cleveland at the southeast corner of East 9th Street and Lakeside Avenue. The 1983-built, 16-story office building has sat empty since AT&T moved out its remaining offices in 2019.

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NRP Group’s renews plans for Scranton Peninsula

Aerial rendering of Scranton Peninsula showing planned developments
including NRP Group’s The Peninsula near the center. Just below it is a
vision for Great Lakes Brewing Co.’s upcoming expansion. The rest are
conceptual massings by Perkins+Will for the Thunderbird portfolio of
properties to the west of Flats Industrial Railroad and for the Scranton-
Averell Inc.-owned lands to the east of the railroad. They are shown
for context only (BKV). CLICK IMAGES TO ENLARGE THEM

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One month ago, NEOtrans published news from two sources that NRP Group would reactivate its plans for a development with 300-plus residences on Scranton Peninsula in Cleveland’s Flats. Tomorrow, those plans are being presented to the City Planning Commission for final approval.

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A variant of Bedrock’s Hudson’s Site in Cleveland?

Most recent rendering of Bedock’s 1.4-million-square-foot,
685-foot-tall Hudson’s Site in downtown Detroit. Sources say
Bedrock envisions a similarly scaled project for downtown
Cleveland’s Gateway District (Bedrock/SHoP Architects).
CLICK IMAGES TO ENLARGE THEM

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NEOtrans is receiving word that the proposed Bedrock megaproject in downtown’s Cleveland Gateway District may be comparable in scale to a major development in downtown Detroit. When asked how big Bedrock’s planned development in downtown Cleveland might be, two sources close to the Detroit-based firm said “Look at the Hudson’s Site.” For those unfamiliar with Bedrock’s development at the Hudson’s Site in downtown Detroit, allow NEOtrans to acquaint you. To cut to the chase, it’s larger than Sherwin-Williams’ new global headquarters.

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Playhouse Square to write Act II to The Lumen

Soaring nearly 400 feet above Euclid Avenue in downtown
Cleveland, The Lumen is the tallest residential building in
Ohio. The 318 apartments leased out in less than two years
despite the pandemic and civil unrest. Now stabilized, the
building will reportedly be sold so that Playhouse Square
Foundation can pursue an encore building (Ian Meadows).
CLICK IMAGES TO ENLARGE THEM

Talk about bad timing. Building tours for potential tenants of The Lumen — the largest new residential development in downtown Cleveland in 40 years — began in early March 2020. Less than two weeks later, the nation had gone into a virtual economic shutdown in response to the COVID-19 pandemic. Two and a half months after that, protests and riots following the murder of George Floyd swept the nation and downtown Cleveland was not spared.

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Lakewood Spitzer site sold, groundbreaking this year

This view looking east at the south side of Detroit Avenue, east of Bunts
Road in Lakewood, shows what the former Spitzer car dealership and
Educators Music sites could look like by the end of 2023. Those pro-
perties sold last week to a developer that wants to construct apart-
ments and a small ground-floor retail space (Solove).
CLICK IMAGES TO ENLARGE THEM

Construction is due to start later this year on the first of two mixed-use developments on Detroit Avenue in Lakewood by a Columbus-based real estate firm. Solove Real Estate has weathered several significant challenges to get this far with one of its two proposed developments in Lakewood, with the other reportedly not far behind. Combined, the two projects represent a $43 million investment in the community.

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Busy Old Brooklyn corner ID’d for redevelopment

At the northwest corner of Pearl and Memphis roads in the heart of Old
Brooklyn are several neglected, historic structures that would be replaced
with a mixed-use development. The St. Luke United Church of Christ and
the Greenline buildings will be demolished if financing is secured for
affordable apartments and ground-floor commercial spaces at this
location (Google). CLICK IMAGES TO ENLARGE THEM

Financing could be secured this spring for the redevelopment of the northwest corner of Pearl and Memphis in the heart of Cleveland’s Old Brooklyn neighborhood. But a casualty of the investment would be the 119-year-old St. Luke United Church of Christ (UCC), 4216 Pearl and the Greenline commercial structures, 3426-34 Memphis, that range from 80-110 years old.

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TMUDs – taking more time

State officials said they need more time to decide which projects around
Ohio will win up to $100 million in tax credits from the new Transfor-
mational Mixed Use Developments program (LOC).
CLICK IMAGES TO ENLARGE THEM

It’s going to be a little while longer before the developers of 42 projects, many of them megaprojects, across the state learn whether their project is going to win a golden ticket and get a big step closer to their own groundbreaking ceremony.

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