Cleveland Development – News & Updates

[News]

University Circle proposal could add 700-plus apartments near Chester and East 107th (photos)
on September 10, 2015 at 7:03 AM, updated September 11, 2015 at 7:27 AM

CLEVELAND, Ohio – A team of local developers hopes to build more than 700 apartments and nearly 1,700 parking spaces on the northwestern rim of University Circle, in a project that could remake one entrance to the city’s educational, medical and arts district.

READ MORE: http://www.cleveland.com/business/index.ssf/2015/09/university_circle_proposal_cou.html#incart_2box_news_index.ssf

[News]

How Rowers Got Cleveland to Rethink a River
BY DANIEL J. MCGRAW | OCTOBER 22, 2015

When you think of rowing, you don’t normally think of Cleveland. The Rust Belt city’s Cuyahoga River curves and bends (the native tribes named it “Ka-ih-ogh-ha” meaning “crooked” river), and most rowers like a straight-line shot. Cleveland’s also an oceangoing port, and 700-foot freighters with 45,000 tons of cargo make their way up the Cuyahoga River to the mills daily. Rowing in a 44–foot quadruple skull alongside a boat more than two football fields in length is a daunting task.

READ MORE: https://nextcity.org/daily/entry/cleveland-rowers-river-cuyahoga-cleanup

[Ned23]

I know how much folks here like to discuss how Cols buildings should be taller, so I thought they might find it interesting to take a look at downtown Cleveland, which is really going big scale:

17 Photo Renderings of Up and Coming Downtown (Cleveland) Apartments

[ohbr]

https://www.columbusunderground.com/forums/topic/cleveland-lakefront-development-news-updates

[jbcmh81]

Anyone know what the price per square foot rents are in Cleveland? I just can’t imagine it being higher there than in Columbus, and if not, that would undermine the argument that cities need a specific price point to make these big projects happen.

[Walker Evans]

Ned23 wrote:

I know how much folks here like to discuss how Cols buildings should be taller, so I thought they might find it interesting to take a look at downtown Cleveland…

Merged into existing thread. ;)

[whopper jr]

jbcmh81 wrote:

Anyone know what the price per square foot rents are in Cleveland? I just can’t imagine it being higher there than in Columbus, and if not, that would undermine the argument that cities need a specific price point to make these big projects happen.

According to Costar, downtown Cleveland submarket asking rents are $1.65/SF, while downtown Columbus asking rents are $1.58/SF. These are asking rents for the downtown proper submarkets, so in the case of Columbus, would not include Short North/Vic. Village/Italian Village.

[Eugene_C]

Cleveland has a lot more really tall buildings downtown already, so there’s a better view of the skyline all the way up the building to the higher floors if you build something tall in the middle of all that. Plus, a short project in the middle would look out of place and might be less attractive to prospective residents. Cleveland also has a train station that goes to the airport just a few blocks away.

If Tower City mall hangs in there then these developments could be the catalyst to help turn it around. (Did we have a thread on Tower City here? I’ll look around.)

[News]

Cleveland won’t recover recession job losses until 2018: Columbus and Cincinnati have rebounded
By Olivera Perkins, The Plain Dealer
on February 04, 2016 at 8:05 AM

CLEVELAND, Ohio – Greater Cleveland won’t recover all its recession-era job losses for nearly two more years, according to a recent analysis. Both Columbus and Cincinnati already have regained the jobs each metro area lost, says the United States Conference of Mayors’ report, which is based on Labor Department and other government data.

READ MORE: http://www.cleveland.com/business/index.ssf/2016/02/cleveland_wont_recover_recessi_1.html

[nohio]

From today’s Cleveland.com (February 11, 2016)

New 20 story tower for residents a go-with groundbreaking next month in University Circle.

http://www.cleveland.com/business/index.ssf/2016/02/one_university_circle_apartmen_1.html#incart_gallery

[Josh Lapp]

nohio wrote:

From today’s Cleveland.com (February 11, 2016)

New 20 story tower for residents a go-with groundbreaking next month in University Circle.

http://www.cleveland.com/business/index.ssf/2016/02/one_university_circle_apartmen_1.html#incart_gallery

Its astonishing how much public money is going into the project and how many ‘strings’ are being pulled to make it happen. Connected to the Two25 thread, is it really worth it to build projects like that if they need propped up with tax dollars?

[ohbr]

Josh Lapp wrote:

<div class=”d4p-bbt-quote-title”>nohio wrote:</div>
From today’s Cleveland.com (February 11, 2016)

New 20 story tower for residents a go-with groundbreaking next month in University Circle.

http://www.cleveland.com/business/index.ssf/2016/02/one_university_circle_apartmen_1.html#incart_gallery

Its astonishing how much public money is going into the project and how many ‘strings’ are being pulled to make it happen. Connected to the Two25 thread, is it really worth it to build projects like that if they need propped up with tax dollars?

I agree. But that gets overlooked for the fact that it’s big and shiny. I expect similar finding for the Nucleus project too.

[wpcc88]

ohbr wrote:

<div class=”d4p-bbt-quote-title”>Josh Lapp wrote:</div>

<div class=”d4p-bbt-quote-title”>nohio wrote:</div><br>
From today’s Cleveland.com (February 11, 2016)

New 20 story tower for residents a go-with groundbreaking next month in University Circle.

http://www.cleveland.com/business/index.ssf/2016/02/one_university_circle_apartmen_1.html#incart_gallery

Its astonishing how much public money is going into the project and how many ‘strings’ are being pulled to make it happen. Connected to the Two25 thread, is it really worth it to build projects like that if they need propped up with tax dollars?

I agree. But that gets overlooked for the fact that it’s big and shiny. I expect similar finding for the Nucleus project too.

That’s why I don’t read to much into the whole Cleveland is making a comeback story. It like the Gateway projects relies almost solely on tax payer dollars which will in a sense continue to keep the economy down in NEO.

[cbustransit]

Incentives are just what cities have to do to attract development these days. To say cleveland isn’t improving because large buildings require public subsidies misses the point. Every large development requires them.
https://columbus.gov/Templates/Detail.aspx?id=69814

Cleveland is brighter, livelier, and more vibrant than it has been in decades. There is real movement in the City. Population is up downtown. Rents are up. Retail is up. It is unquestionable the positive movement happening in Cleveland–especially downtown.

[jbcmh81]

cbustransit wrote:

Incentives are just what cities have to do to attract development these days. To say cleveland isn’t improving because large buildings require public subsidies misses the point. Every large development requires them.

https://columbus.gov/Templates/Detail.aspx?id=69814

Cleveland is brighter, livelier, and more vibrant than it has been in decades. There is real movement in the City. Population is up downtown. Rents are up. Retail is up. It is unquestionable the positive movement happening in Cleveland–especially downtown.

http://www.downtowncleveland.com/media/259202/q4_final_spreads.pdf

Columbus uses tax incentives all the time. Perhaps not always through direct subsidization, but certainly through things like abatements, so I don’t think it is entirely fair to single out Cleveland in this regard. They have much more significant problems throughout the city, and it may take a stronger hand to get things going. It seems to be working, at least in the downtown and UC areas. Perhaps with enough established momentum, such subsidies will be less of an issue eventually.

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