Larry1962

Maybe they will buy the old gas station at the corner and donate a portion of the property at the point to the city to allow for the redesign of that intersection and really improve and brighten that area!

When did Stark change law firms? Benesch was their law firm back in 2014 when the nuCLEus project was first announced. And it's hard to imagine Stark dropping his main tenant for nuCLEus before it's built!

With going from the last report of 11 floors to now 8 floors for this project, I can see losing one or maybe two floors without the movie theater, but what else are we losing or downsizing? Per the current Kenect website: Kenect Cleveland will house its 325 residential units, a 48,000 SF Cinema and 22,000 SF of ground floor retail within a single 12-story building. Kenect Cleveland will feature signature Kenect amenities as well as 25,000 SF of Kenect coworking space. https://www.akarapartners.com/projects .

Berkadia Arranges $72.9M Loan for (The Beacon) Apartment Tower in Cleveland Global investment firm KKR provided the seven-year loan, which features a 4 percent interest rate and a 65 percent loan-to-value ratio. https://rebusinessonline.com/berkadia-arranges-72-9m-loan-for-refinancing-of-apartment-tower-in-cleveland/ Maybe with Stark Enterprises refinancing The Beacon Apartment Tower back in July that it's a sign that they are getting ready for another large construction project like NUCLEUS? Of course with their large portfolio of real estate properties it maybe just good timing to take advantage of low interest rates too. BUILD BABY BUILD!

The Ohio City Market District is a Business Improvement District which just last year triple in size now covering all of West 25 from Detroit Avenue to a little south of Lorain Avenue. And it covers all of Detroit Avenue up to West 33 Street and also covers all of Lorain Avenue up to West 50 Street. They have Cleaning and Safety Ambassadors maintaining and patrolling those areas in the same way as the DCA covers the Downtown CBD. http://www.ohiocity.org/OCIC/

SENATOR BROWN ANNOUNCES MORE THAN $600,000 FOR CLARK AVENUE PARK IN CLEVELAND. The project includes landscaping and infrastructure improvements, and will install a splash pad, play equipment, a basketball court, outdoor game tables and park benches. https://www.brown.senate.gov/newsroom/press/release/brown-clark-avenue-park-cleveland City of Cleveland representatives did not respond to request for comment before deadline, but TPL representatives told The Land that the city had verbally committed to help fund the park and renovate Clark Recreation Center. According to Terry, it’s necessary to acquire several buildings and properties to make the new park a reality, a process that is currently underway. https://www.thelandcle.org/stories/proposed-clark-avenue-park-awarded-650k-grant-from-national-park-service https://www.tpl.org/our-work/clark-avenue-park

It's going to be interesting that about up to 75% of the 2.2 MILLION Sq Ft of the IX CENTER will be used for warehousing ect. Right now Gojo Industries is leasing 700,000 sq ft for warehousing. And they are also offering up to One Million sq ft for warehousing ect. And that leaves just 400,000 - 500,000 sq ft for trade and consumer shows. But it also has 7,000+ parking spaces and the various shows will really help the local hotels in that area too. https://www.prnewswire.com/news-releases/cleveland-i-x-center-poised-for-revival-with-irg-team-301367356.html https://www.crainscleveland.com/real-estate/industrial-realty-group-will-reopen-redevelop-clevelands-i-x-center

As tykaps noted above back in late 2020 there was a Cleveland.com article about the planning for the NEW 16 ACRE INNOVATION DISTRICT to be placed next to the New Cleveland Foundation HQ at East 66 & Euclid: The foundation sees its relocation as a way to leverage more than $400 million worth of related investments by nonprofits, businesses and academic institutions on 16 acres between Euclid and Chester avenues at the southern edge of Hough, a neighborhood still stigmatized by a 1966 uprising that left four dead and 30 injured. To make its vision a reality, the foundation and the nonprofit MidTown Cleveland Inc. quietly acquired roughly 10 acres over the past few years on two blocks west of the new headquarters site, which the two organizations hope to turn into a $400 million science and technology innovation district over the next decade. https://www.cleveland.com/news/2020/10/new-cleveland-foundation-hq-designed-to-uplift-midtown-hough-city-neighborhoods.html https://www.cleveland.com/realestate-news/2020/10/developer-chosen-to-design-innovation-district-in-clevelands-midtown-neighborhood.html https://www.crainscleveland.com/real-estate/wexford-science-and-technology-tapped-master-developer-midtown-innovation-district https://www.crainscleveland.com/nonprofits/new-innovation-center-planned-midtown These articles are from 2020 and 2019.

Maybe BD means BUILDING DESIGN?

It was also a secret - private hallway and stairs connecting the Greenbrier Suites to the hotel to allow the V.S. brothers another private exit and entrance to the Greenbrier Suites. But during one of the many hotel renovations the connection was sealed many years ago.

And I read somewhere that at some point there was a secret connection between the Greenbrier Suites and what's now the Renaissance Hotel... http://www.clevelandmemory.org/cut-coll/ https://www.pbswesternreserve.org/local-productions/dirty-little-secrets-foundations-from-the-past/ https://www.cleveland.com/metro/2011/08/hidden_inside_clevelands_termi.html

Another GREAT ARTICLE! THANKS KEN and TYKAPS! Great to hear about the long term office plans and the hiring of 150 more people! But a question about their 30,000 sq. ft. office in the INTRO building, that would take almost a complete floor of the building. Will it be in the 1st or 2nd apartment building, since its taking up so much room? Obviously they are here for the long term! And Its always nice to have another quality company planting roots in Cleveland!

I'm assuming that they are starting the permits process now to be able to start construction this year BEFORE the $ 25 MILLION state historical tax credits expire.

I wonder IF this is related to Shaia family's Victory Properties Inc. that leased the East 13 & Chester Avenue parking lot next to Greyhound Station from the CITY back in 2016? And they will be required to build a new residential building there this year because of the 5 year time limit the City gave them. Unless they got an extension from the CITY? http://www.cleveland.com/business/index.ssf/2016/04/parking-lot_deal_near_playhous.html And they also own a good size part of the rest of that block from East 13 to East 17 Street except for mainly the Greyhound Station. I know they are known as parking lot operators BUT I hear that they are also trying to redevelop the many buildings they own too... https://www.google.com/maps/d/viewer?mid=1LfhwBugQc7DCQm9gb-9OvX4iQig&ll=41.502967591532475%2C-81.68207309075827&z=16

YES, when a City vacates a road the property reverts back to the adjoining properties and therefore they will own the road and have to pay property taxes AND will also have to maintain the now private road at their own expense.

TRUSS CLEVELAND -- INTRO EVENT SPACES: With five elegantly designed spaces including a 6,000 SQ FT Main Event Hall, a 4,000 SQ FT rooftop wrap around Terrace, and a 500 SQ FT Wedding Suite with make-up vanities and private bath, Truss Cleveland is the premier venue to host your Wedding Celebration, Shower, and Rehearsal Dinner. Guest Capacity: 300+ https://www.theknot.com/marketplace/truss-cleveland-cleveland-oh-2048289 12,000 SQ. FT. ONE-OF-A-KIND EVENT VENUE with 16 foot ceilings. https://introcleveland.com

With the posts and reporting of several UO Members over the last several months showing the increased interest of both local and out of town apartment developers interested in redeveloping the Scranton Peninsula. With both Brewdog and perhaps even Great Lakes Brewing both expanding there. And NOW with the City rezoning the area with a Urban Overlay District that will I believe greatly reduce parking requirements. I'm getting the impression that SOMETHING REALLY BIG is brewing underneath the surface....

I was doing some research on the WATERFORD BLUFFS APARTMENTS recently and I ran across this Crains Cleveland article from March 2021. It included some interesting background on their financial stack for the project and WHY they didn't need to raise any outside money: The largest single investment in this year's successful state tax credit applications came from a Florida-based family trust, which put $38.7 million into Waterford Bluffs... The $60 million-plus project will involve only $15 million in debt, said Rick Cavenaugh, president of Illinois-based developer Stoneleigh Companies. And the only reason Stoneleigh is taking out a loan is to lay the groundwork for bonus depreciation on the real estate. https://www.crainscleveland.com/real-estate/opportunity-zone-investors-ohio-leave-10-million-state-tax-credits-unclaimed https://waterfordbluffs.com/

BUILD baby BUILD!!! Mama needs some new shoes...

Some pics from a few days ago: A really great addition to OC especially with hopefully phase two building, a renovated mix use Voss Industry buildings, and perhaps with a MRN new building on their empty lot next to their United Building!

But I think that ONE of the reasons that SHW chose Brecksville for the R&D Center is to be able to better bargain with both cities. And IF they get too much flashback from either in the future, then they can simply steer future development to the other city. Like having back office operations in Brecksville to save money. But also having options for even more prime office space downtown.

I'm hearing from a outside consultant working for SHW that either SHW is doing a bait & switch to throw off reporters like KJP off the real story by saying they are building the main HQ Tower on the Weston lot BUT really building it on the Jacobs Lot. Or they are planning on doing a long term COMCAST type of buildings as Comcast did in Philadelphia. That SHW are planning to build a series of HQ TOWERS over a number of years to keep up with their substantial growth and both repay their hometown and help move Downtown Cleveland to the next level and there by make it easier to attract the best talent to SHW.

I found this in Horizon Group Properties 2020 ANNUAL REPORT: As I have written in the past, the Company believes it has identified a great site and plan for a center in downtown Cleveland. Activity on this development has slowed considerably as the retailers with whom we need to enter into leases and the local governments with whom we need to finalize entitlements are focused on issues related to COVID-19. It is hard to determine when meaningful development activity will resume but we remain committed to this effort. PDF of their 2020 Annual Report: https://img1.wsimg.com/blobby/go/9628b37b-8065-401a-b0ee-081c9fe7e632/downloads/2020 ANNUAL REPORT.pdf?ver=1619184519363 EDIT: And the company has spent over $ 600,000.00, mainly on developing this site...

A quick pic from a couple nights ago: I took it while waiting at the traffic light at Columbus and Abbey. Sorry it's a little blurry... What a GREAT NEIGHBORHOOD this will be in a couple years with so many NEW and Recent Developments taking place in the surrounding areas including: Waterford Bluffs Apartments -- 240 units Waverly & Oak -- 122 units The Quarter 3 & 4 – 200 units Bridgeworks – 130 room hotel & 170 units The Tappan -- 95 units The Lincoln -- 82 units Grosvenor Place -- 21 units Electric Gardens -- 130 units Lincoln Park Flats – 40 units Church & State – 170 units The Dexter -- 115 units Hulett Hotel -- 25-rooms ??? St. Joseph Commons – 68 supportive units TREO -- 171 units The Pivot Center for Art, Dance and Expression MetroHealth & NRP Group’s 3 New Apartment Buildings -- total of 250 units MetroHealth -- New 11 Floor LEED-Certified hospital Not to mention all the projects going on in DOWNTOWN and the FLATS: City Club building -- 300 units Flats East Bank Riverfront Restaurants Thunderbird Project: The Avian -- Brewdog Brew Pub Great Lakes Brewing -- Brew Pub ??? South Bank Innovation District: Cleveland Whiskey -- DISTILLERY & RESTAURANT The Viaduct -- 173 units ??? 1250 Riverbed St. – 80 units ??? Nautica Waterfront District -- 500 units ??? The Lumen -- 318 units Sherwin-Williams Global Headquarters Rock & Roll Hall of Fame and Museum -- 50,000 SF NuCLEus -- 250 units ??? 12th & Avenue Apts – 35 units Flats East Bank Phase 3 / Kenect Cleveland – 325 units Former Huntington building -- 850 units 75 Public Square -- 125 units 55 Public Square – 150 units & Offices And these are JUST the projects either recently completed and or New Projects just in Ohio City, Tremont, and Downtown... Build Baby Build!!

I still believe that WE should REHAB the still young FES Stadium, ADD a FIX DOME and have a Partership of the CITY, BROWNS, ROCK HALL, SCIENCE CENTER, and a MAJOR DEVELOPER direct the complete REDEVELOPMENT of the 20 ACRES north of FES. And combined with a Land Bridge the City is planning and that the BROWNS feels is required to properly connect OUR DOWNTOWN with OUR PRIME ASSET: the LAKE ERIE LAKEFRONT!! BUILD IT AND THEY WILL COME... It's like when sometimes a developer has to actually build a project on spec to convince its targeted clients to join their vision for the future development.