cle_guy90

I agree! Most people I know who were in tiny apartments did things like move back in with their parents for a while (if they were single) or spend a couple of weeks with their parents or siblings to get out of it all. I think this will only be a problem if we have more shutdowns. One isn’t enough to derail micro apartments like Kinect (IMO).

If this had been passed earlier would it have made it more likely that the owner of the property on Scranton would have sold to SHW for their R&D?

It could be but it’s quarter 1 which ends in March. I don’t think much of the Coronavirus impacted occupancy much in March. Things began to shut down mid March which wouldn’t have affected people leaving their leases or not signing new ones till at least April’s imo.

So not the most positive first quarter for Downtown housing. Not only has the occupancy dropped which is expected but the total number of units occupied (if my understanding is correct) is also down. Yes it’s just by two but one would have hoped the number of units occupied would still be increasing. At 86.7% occupancy and the flattening of number of units occupied one would imagine that developers would think twice before doing any more residential projects if things continue like this. https://www.downtowncleveland.com/DCA/media/DCA_Media/2020-Q1-REPORT.pdf 2020 - 7520 at 86.7% = 6520 2019 - 7167 at 91% = 6522

For me it’s more the size than the concept. Too large.

From Cleveland.com. I’m just wondering if this is a case where the company says things will remain the same but they slowly transfer the employees over sort of like Valspar and SHW. https://www.cleveland.com/business/2020/05/ge-selling-century-old-lighting-unit-to-savant-systems.html

Sorry see my clarification. It was confusingly worded haha.

Sorry you are right. I mean leave as it will remain. They will keep the headquarters there.

https://www.crainscleveland.com/manufacturing/ge-lighting-sold-massachusetts-company-savant-systems Big news. They say will keep the headquarters at Nela Park. Anyone with insights on what this means?

Cleveland MSA for some reason has their unemployment way higher than Ohio (23.1 vs. 16.8). Any insight as to why? https://www.bls.gov/eag/eag.oh_cleveland_msa.htm

Another important thing in this discussion is that the average size household is still declining. There could be more overall households and still less overall people. I think this is one of the biggest factors in there still being a population decline.

It really is crazy how much tax dollars are saved for the new owners of tax abated properties. That is a huge reason why they can sell so high. But you have to imagine in 15 years the value of these properties will greatly diminish.

Would someone want to compile the fortune 1000 list? It'd be interesting to see how the cities are doing in that regard.

Completely agree! While I'd be happy with any of them, the first one is my favorite!

Thanks! That's just crazy to me the size!! Perhaps they want it to be isolated within the develop and have several acres separating them from everyone and everything else on all sides.

I forgot that they added 87 acres to make it 190. But where do you see that it is 75 for SHW (I read the article and didn’t see it there). 75 acres seems extremely high considering that the Scranton R&D was only going to be 6 or 7 I believe.

While there is a lot more going in those 75 acres (SHW is just part of Valor acres), your point still stands. What SHW wanted in terms of lay out for its R&D simply didn't work in the heart of downtown. The bummer is that we couldn't find another place for it in Cleveland. At least they stayed in the county however.

Especially because the developers came up with a clever way to get the full TIF so it’s not like it’s opening up Pandora’s box to all future developments asking for it.

The 8,000 figure represents planned hires and not the net addition to Progressive's employment ranks, given the number of people who may leave the company this year. A Progressive spokesman said in an email that "typically 50% of external hiring figure is net additions," so about 4,000-plus jobs will be net additions in 2020. https://www.crainscleveland.com/staffing/progressive-corp-says-it-will-hire-8000-people-nationwide-year-including-1500-cleveland The Crains article makes it a little more clear. It’s looks like it’ll be about 750 new jobs to Cleveland which is still fantastic!

This is going to cause some sadness https://m.clevescene.com/scene-and-heard/archives/2020/02/19/old-fashioned-hot-dogs-on-lorain-closing-at-the-end-of-march-after-92-years-of-business

Hey Mods. How do I quote someone in one thread and have it appear in another? I'm specifically thinking when a thread is going off topic and you want to continue the conversation further in the appropriate thread.

Yeah I mean if you think about it, this development is going to help accelerate the transformation of you neighborhood causing your house value to go up. It's a win-win (although I understand for some people their rent goes up and so forth so it is not a positive thing for them).

I was just thinking about it. Is it possible since the new HQ is only going to start at 1million square ft that Sherwin-Williams Williams might initially keep the northern of the two Weston Lots just as a parking lot? Because event if they build 30 stories with only an average of 25k a level on the Jacobs lot that means that they only have 250k sqft left for two lots that are over 6 acres. I know there is parking but still!

https://www.crainscleveland.com/transportation/american-airlines-adds-new-hopkins-routes-dc-and-new-york Looks like AA is picking up DCA as well. Both end up having 150 more seats daily.

https://www.crainscleveland.com/real-estate/hotel-operator-joins-lakewood-megaproject This could be huge! From the article there could be a 90-100 hotel room inn rise in this project. But the bigger news is that they are in talks with a “major out-ot-town insurance company that is considering moving its national headquarters to about 88,000 square feet of the project.’” The CEO of the group developing the project (Ruston Khouri) “would not identify the company because the company is negotiating incentives with the city and the deal hasn't been signed yet.” Based on the size of sq for we are looking at between 300-500 employees coming in from out of town! Any guesses on who it could be?