NEOtrans

Cleveland Area Economic and Development Updates Since 2011, the NEOtrans Blog has been your go-to source for news about economic growth, development, real estate, construction, and transportation in the Greater Cleveland area. We offer thorough analysis and accurate research, backed by well-verified data, to keep you informed about market trends in Northeast Ohio. This is the perfect resource for anyone interested in staying updated on local business activities.

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Cleveland Clinic to nearly double Avon Hospital’s size

4 days ago | neo-trans.blog | Ken Prendergast

This simplified rendering, called a massing, shows only the scale and placement of proposed structures. Their final design will change. This also doesn’t show a proposed parking garage or where it might be built. North is to the lower-left corner of the image (Cleveland Clinic). CLICK IMAGES TO ENLARGE THEM. To meet the growing demand for patient care on Cleveland’s west side, a growing Cleveland Clinic announced plans to significantly expand both Avon Hospital and Richard E.
Fenn Tower leads historic tax credit winners

4 days ago | neo-trans.blog | Ken Prendergast

A $50.4 million renovation of Fenn Tower at the east edge of Downtown Cleveland by Cleveland State University got a big boost today by the Ohio Department of Development when it awarded a maximum $5 million historic tax credit to the project (Google). CLICK IMAGES TO ENLARGE THEM. Northeast Ohio did well in the latest round of Ohio Historic Preservation Tax Credit Program awards, garnering nearly half of all awards in terms of dollar amount and total number of projects aided today.
Sinito walks away from running Millennia

6 days ago | neo-trans.blog | Ken Prendergast

Key Tower is owned by and is the headquarters of The Millennia Companies, one of the largest affordable housing property owners and managers in the United States. It is reducing its affordable housing portfolio, expanding into market-rate multifamily properties and, this month, went through significant leadership changes (NEOtrans). CLICK IMAGES TO ENLARGE THEM. Frank T.
Ohio teams support DeWine’s stadium funding plan

1 week ago | neo-trans.blog | Ken Prendergast

Two existing sports and entertainment facilities plus one proposed venue are seen in this view of the Gateway district from Terminal Tower. In the foreground is Rocket Arena, followed by Progressive Field. To the right, just beyond the rapid transit tracks and Inner Belt highway is the site of a professional soccer stadium (NEOtrans). CLICK IMAGES TO ENLARGE THEM.
University Circle site offered for mid-rise apartments

1 week ago | neo-trans.blog | Ken Prendergast

This AI-generated rendering shows a potential 11-story residential development for Cleveland’s University Circle at Cedar Avenue and East 107th Street. The property, zoned for a 60-foot building height, is surrounded on three sides by zoning allowing for taller buildings (Cresco). CLICK IMAGES TO ENLARGE THEM.
Warner & Swasey faces $2M gap, needs help

1 week ago | neo-trans.blog | Ken Prendergast

Someday, this perspective of Downtown Cleveland could be the view from someone’s home. But for the last 40 years, Mother Nature has been steadily reclaiming this property from its prior use, the Warner & Swasey Co.’s machine tool factory on Carnegie Avenue near East 55th Street. That decay can end and the building be restored if just $2 million more can be found to close a financing gap (NEOtrans). CLICK IMAGES TO ENLARGE THEM.
Bedrock to prep Downtown’s ‘Rock Block’

1 week ago | neo-trans.blog | Ken Prendergast

Here, at the corner of East 4th Street and Huron Road, Bedrock Real Estate will begin site preparations for a large new development called The Rock Block. However, details of what this development entails is still a mystery (Google). CLICK IMAGES TO ENLARGE THEM. Site preparations for a significant new development called the “Rock Block” are sought in the Gateway District of Downtown Cleveland.
Midtown Lofts advances with support, concerns

2 weeks ago | neo-trans.blog | Ken Prendergast

NRP Group’s Midtown Lofts will be designed similarly to another project by NRP — A Place For Us apartments at Madison Avenue and West 116th Street in Cleveland. Midtown Lofts will have two four-story buildings like this and will be marketed to families and others who earn up to 80 percent of the area’s median income (Google). CLICK IMAGES TO ENLARGE THEM. Asiatown was a neighborhood that was on the upswing 20 years ago.
Port OK’s $92M for Cleveland, Brecksville projects

2 weeks ago | neo-trans.blog | Ken Prendergast

Thanks to financing from the Port of Cleveland, a new AC Marriott Hotel at Valor Acres in Brecksville is due to start construction as early as next month. The $42.9 million hotel will add to the mixed-use offerings at Greater Cleveland’s newest lifestyle center (Meyers+Associates). CLICK IMAGES TO ENLARGE THEM. A trio of projects — two in Cleveland and one in Brecksville — got a total of $92 million in financing approved by the Port of Cleveland to help get them closer to construction.
Capitol Theatre may need a new plot written

2 weeks ago | neo-trans.blog | Ken Prendergast

The Capitol Theatre, with its marquee facing West 65th Street in Cleveland’s Gordon Square neighborhood, has an uncertain future. A new board was formed to help make that future more certain and more enjoyable for the community (Google). CLICK IMAGES TO ENLARGE THEM. It’s a tough time for the film industry, and an even tougher time for historic theaters like the Capitol Theatre, 1390 W. 65th St., trying to pay its bills.