LlamaLawyer

Let's just wait and see when real numbers come out. We know the 2020 estimates are wrong by about 100,000 people for Ohio. We don't know where those people will fall. Don't forget that the 2010 census numbers are from April 2010, and the region hadn't realized the full effects of the mortgage crisis by that point. So even if there is a negative change from 2010 to 2020 (which there probably will be), that doesn't rule out the possibility that the city has grown over the last five or so years.

Pretty significant rezoning just approved by CPC. Hopefully just a first step in the area being developed into a new mixed use neighborhood.

Chester 75 got final approval.

I think you can add some blanks in this question and the answer is the same. "Do you know what is spurring [insert person] to invest in [insert project]?" "Money."

Also Crop Bistro closed (*cries*). I know Crop wasn't a steakhouse, but its disappearance leaves a bit of a fine dining gap.

Right, but the above could still be technically true if it's an entity purchase. You'd still have to do a lot split in any event. It's probably an asset purchase; I'm just spitballing. The failure to close (yet) just worries me a little because it suggests some kind of due diligence is still going on, which may or may not be an issue at all.

Are we sure there's actually supposed to be a recorded property transfer? The LLC that owns the plot appears to be a single-asset entity. Maybe they're doing an entity purchase, although I don't know why they'd do it that way.

Regarding UC microunits, to carry over a point raised in the Little Italy thread, average American household size is about the smallest it has ever been, having fallen from about 3.5 in 1960 (which was already lower than previous decades) to roughly 2.5 now. These micro-units aren't being marketed to families of seven. They're being marketed to active single people who live alone and have absolutely zero need for a 1000 sq. ft unit. For about a year after my wife and I had our first child, we lived in a roughly 600 sq. ft. apartment. That's 200 sq. ft. per person for the math challenged. On a separate note, I'm amazed by the pessimism of the folks upset by this development. From the article: I mean come on. By that reasoning, the Feast of the Assumption in Little Italy is in grave danger, because many parking lots have been filled with new development. The annual Fourth of July fireworks downtown are also in jeopardy if the parking lots north of FE are developed because then WHERE WILL PEOPLE PARK AND WATCH THE FIREWORKS??!

This project has exactly 0 of the characteristics that have historically created slums. The surrounding area is too diverse and high income.

To carry over a discussion happening in the Columbus housing thread, 59% of Cleveland homes currently sell in one week. Columbus and Denver are tied for first, with 74% selling in a week. https://www.zillow.com/research/days-to-pending-april-2021-29511/ Given the dilapidated state of much of Cleveland's housing stock (obviously nowhere near the same problem exists in Columbus), I'm pleasantly surprised homes are selling as fast as they are in Cleveland. Even in the lowest tier of housing prices, more than half of Cleveland homes sell in a week.

Two other factors to point out re the above. 1) This is based on census estimates, which we know are off by 110,000 for Ohio. That will change the numbers. 2) As far as how Cleveland stacks up against Columbus and Cincinnati, don't forget that the Cleveland metro has been losing population, while Columbus and Cinci Metros have been gaining. In a sense, gaining immigrant population while losing overall may be more significant than gaining immigrant population while gaining overall.

Here's an Axios article which includes the graphic and a key. https://www.axios.com/immigration-heartland-america-immigrants-jobs-arkansas-94e1101b-a8dc-48fe-a320-9db24fbae6d8.html And this report has a little more detail. https://heartlandforward.org/wp-content/uploads/2021/05/GlobalHeartlandFinal.pdf I love the narrative of explosive immigration growth in the "heartland," but I would want to see more data points (i.e. previous trends, absolute immigration numbers) before thinking too much of the data. The trends in most cities could be adequately explained as regression to the mean. Because, on a basic level, OBVIOUSLY, the biggest percentage increases in immigrant populations will come in cities that have lower starting immigrant populations. E.G. In 1,000,000 person City A, where 1% of the population is immigrant, if you have a 10% increase in residents over ten years and 1/5 of them are immigrants, your immigrant population will have more than doubled. In 1,000,000 person City B, where 50% of the population is immigrant, if you have a 10% increase in residents over ten years and 1/5 of them are immigrants, your immigrant population will have grown by a much smaller percentage. Cities A and B receive exactly the same immigrant and non-immigrant inflow, but City A looks great according to the Heartland metric and City B looks bad. Regression to the mean may not erase the whole story, but you do have to account for it.

https://www.clevescene.com/scene-and-heard/archives/2021/05/18/browns-dj-teams-up-with-darnell-superchef-ferguson-to-open-haunted-house-themed-restaurant-in-former-cleveland-heights-melt-space Never heard of the chef, but I love this concept.

Basically we're replacing one of the ugliest millionaire's row houses with one of the most beautiful new developments in midtown. EDIT: AND, it's essentially workforce housing, since rents start at $800/mo.

This is fair enough, and I must concede that I couldn't read the pay-walled article to see the details of the project that was opposed or the opposition. A lot of NIMBYism is self defeating. My point is that in a city that has explosive growth and a REAL gentrification problem, NIMBYism is understandable, even when the specific criticisms may miss the mark. It's very different from people who live in one of the cheaper cities in the country complaining about how a lot which used to have a building on it but has been a vacant lot or parking lot for the last forty years is now getting a building on it again. That's not gentrification, it's just rebuilding the city.

I think one can be a little more sympathetic to NIMBYs in a city like Seattle with a sustained population explosion and Amazon essentially taking over the town. A friend of mine from Seattle has remarked that since Amazon became huge, a lot of his favorite things about Seattle are gone, and it doesn't have the charm it once had. Those kinds of complaints make a lot less sense in a city where 2/3 of the population is gone and the population rebound has either just begun or not started yet.

I think the above map boils down almost entirely to natural disaster propensity. The only exception is CA with earthquakes, but I would point out 1) damaging earthquakes are pretty rare compared to tornadoes or hurricanes, and 2) the CA building codes are very exacting, so there’s even less of an earthquake risk than you’d think. Wildfires are also a relatively low risk because they tend to hit more rural areas where fewer people live. You will hear about Houston or Miami getting slammed by a hurricane, but you’re not gonna get a wildfire in central LA.

Marquette Williams is a Cleveland native who has been making films in California for many years now. He has the land and most of the capital stack to open a 150,000 sq. ft. film studio he plans on building which would employ about 1,000 people over the next five years. Cleveland doesn't really have a full service film studio, and so the nearby facilities would make Cleveland an appealing shoot location for a wider range of projects. The article also says that on a national level, the film industry is growing much faster than there are facilities or workforce to accommodate.

Good news. I’d worry if the start date was just idling at May 1 with nothing going on.

To be clear, this would mean not just that they tried to drop false hints to mislead reporters, but that they released a false site plan to the public.

https://www.crainscleveland.com/real-estate/cinema-city-project-marries-film-studios-social-mission This seems like it could be a huge deal if it pans out.

The Columbus and Cinci metros do have total nonfarm employment numbers, just not labor force numbers. Cinci looked great, Columbus was essentially flat.

$1000 for a 525 sq. ft. studio on public square is very attractive!! The Mayfield Station micro units in Little Italy are about $1400 to $1500, and they appear 100% booked. These K&D units should do great.

Also, on the state-level data, employment was actually up even though non-farm labor and wage was down. The biggest loss in non-farm labor and wage came in Leisure and Hospitality. Do part time employees count as a full payroll or only as a fractional payroll? If the former, it could be employees who had multiple part time jobs switching to one full time job as reliable hours pick up.

Interestingly though manufacturing was in the "virtually flat" category as it ticked just barely down. Professional and business services were way up, however.