RE Developer In Training

Absolutely love seeing the cranes from 90 and 77... hopefully we can see a few more before too long!

Nice investigative work YABO! Does anyone recall what the construction timeline looks like?

I'm glad there was some pushback, as sports teams shouldn't be able to hold cities and the taxpayers hostage. At the same time, it's a major disappointment. Delaying this only makes the next move more costly. Pushing back the same type of renovation, construction costs will most certainly go up, as will the cost of money. Do you think Gilbert will up his ante and cover more of this? I highly doubt that. He's got all the leverage and no allegiance to Cleveland. Whether he sells the team or not, we'll need a new arena (or substantially renovated) by the end of this lease. There'll be threats of moving the team and the city/taxpayers will ultimately cave (because the threat is most definitely real). There's dozens of cities of our size or larger that would be quick to subsidize an arena to lure them to their city. At the end of the day, we either lose the cavs in 10 years, pay more for the same renovation plans, or build a new arena in the $800M - $1B range. There's no white knight out there that's gonna swoop in and pay for this. After this election, Jackson better work with Gilbert and get something done. Go Cavs!

Cumberland Development to break ground for second building on downtown Cleveland lakefront http://realestate.cleveland.com/realestate-news/2017/08/cumberland_development_to_brea.html#incart_river_home Glad to see progress down on the lake front, but this is extremely underwhelming... and good luck finding folks to rent at $3,700/month P.S. At least we will get a Cleveland Pickle shop down there :-D

Anyone know what time the board is voting on this? It sounds like whatever the board votes on, the city council will follow. So it's a big day.

What the heck?? Can't tell if this is good news or bad.. Oswald Centre, former Eaton Center office towers in downtown Cleveland listed for sale http://realestate.cleveland.com/realestate-news/2017/08/oswald_centre_former_eaton_cen.html#incart_river_home Tower at Erieview and Galleria go up for sale, as RAIT presses pause on apartment plans http://realestate.cleveland.com/realestate-news/2017/08/tower_at_erieview_and_galleria.html#incart_river_home

City wins compromise adding retail to garage for Playhouse Square apartment tower http://www.cleveland.com/architecture/index.ssf/2017/08/city_wins_compromise_adding_re.html#incart_river_home Great job here by the city, forcing retail into the initial build out. Hopefully this doesn't cause any delays.

Jeff Johnson says no. He hasn't read nor does he understand the economics of the proposal... but no. I saw a Jeff Johnson for Mayor sign on my street the other day. I badly wanted to vandalize it, but a cooler head prevailed.

Meanwhile the high school newspaper "Cleveland Scene" is slamming this deal citing that it would set a precedent of the schools being a TIF ATM for future projects. I don't understand the logic by the naysayers. Continue as a surface lot, collecting $360k a year or transform into a vibrant city center with thousands of construction jobs and hundreds of permanent jobs - oh and wait - an upfront payment of $18 million. https://www.clevescene.com/scene-and-heard/archives/2017/08/04/nucleus-developer-seeks-tax-financing-deal-with-cleveland-metropolitan-school-district-and-the-city

Reason(s)? Huge gap in cost vs value as already discussed a few weeks ago in this thread Why would Stark go on TV, discuss on that radio show, and have the Schools host those forums if it's not going to happen? I know we're from Cleveland where hearts are very often broken; but I don't believe your source.

Speaking of that list of new awards - NRP Group secured credits for 2 projects. A good sign for the growth of jobs out of the soon to be Halle Building HQ.

Did Carnegie's plan mention the price tag? I know Casto's was for $70M. Is the City of Lakewood retaining ownership or will there be a land sale?

Halle Building is indeed underway. It's my understanding that they're still in the demolition phase. K&D has promised Fitworks and NRP's office space by Q1 2018, so things should start heating up there on Euclid. Apartments on the upper floors will come last.

Playhouse Square's 34-story apartment tower wins initial design approval http://realestate.cleveland.com/realestate-news/2017/06/playhouse_squares_34-story_apa.html#incart_river_home

I worry about this as well. I don't know about you guys, but it looks like there is some ground floor retail in the garage portion of the building, at least it appears that way in the North to South view.. If so, that'd be excellent for the district to add in some boutique shops/restaurants for the theater goers to spend their fortunes at.

I heard some bad news over the weekend. Hopefully it's not true, but I heard from a Sherwin employee that due to the Valspar acquisition - the expansion of Sherwin may come outside of downtown. I forget the location, but certainly not the tower on Public Square that we all wanted.

NRP Group planning on a move to Halle Building by end of year NRP Group, a powerhouse national developer of apartment complexes and other multifamily properties, is set to make some real estate noise on its own account. The company, founded in 1995 and based in Garfield Heights, plans to move by the end of the year to the Halle Building in downtown Cleveland, contingent on the approval of state and local incentives. NRP Group said late Friday, April 28, that it's working with JobsOhio and the city of Cleveland on incentives to complete the relocation plan http://click.crainemail.com/?qs=015c97627c7d530a886d978ead5229e2da832e52f9ef80e688d9252adc759125cead3244a45ad5a96c0a1b1d57f66318d65f354b3af75ffd

So much for PBS going under... This is encouraging.

Be patient people...neighborhoods don't just blossom over night. Just wait until these 307 units are occupied. The gap between battery park and Ohio City is getting smaller and smaller (and cleaner and cleaner). 10 years ago it was a blighted neighborhood. 5-10 years from now it'll be an affluent, bustling one.

Are they going to have bocce ball down there? What a great idea! Need to continue to make it a well rounded neighborhood and not just watering holes (not that I don't love and frequent those).

A friend of mine is doing work on the brewery today and said, while it's only 30% finished - it's going to be very impressive when complete. I'll try to have him send me some pictures!

Any idea how this building is coming along, particularly the office renovations?

Who's the developer on this project? If this tax credit goes through, would that be enough to get started? The importance of this building is undeniable. Not just the side facing public square - even more so on the prospect side. That gap between 4th and the casino is, in my opinion, the only ugly spot in the center of downtown. By the way, does anyone know the status of the Taco Bell ?

Very uninspiring. Really setting the bar low when it comes to future waterfront development. This design looks like they are desperate to get something up and rented and not to transform some of downtown's most valuable real estate. Someone needs to step in and shoot this down.

I don't want to be negative, but some of this is growing pains, some of it negligence. First off, CROP should have never been granted that much space. Secondly, I don't know the details with the Toby Keith's joint and its bankruptcy, but that was a bad deal. Thirdly, the residential/office population to restaurant ratio is way off. The weekends do just fine, but they could be doing better - and with all the competition - they easily could absorb twice the foot traffic down there. With the low # of residents, office space, and non-alcoholic based attractions - this place will continue to have growing pains. Hopefully Phase III is not too far in the distance.