May 21, 20196 yr On 5/19/2019 at 5:40 PM, PoshSteve said: I am very Familiar with the people behind that proposal. As far as I know, they have never undertaken new construction before, but they are very bullish on OC, and have diverted more or less all of their resources that way. In addition to what you list, they have a number of rehab projects along Lorain as well. While they may not have experience in new construction yet, they definitely have access to money and investors. Spoke with the teams construction manager today. She confirmed that all financing is in place already, and the only things they need to work through are with the approvals. She also said this is all coming from private investors, and no opportunity zone funds, although they will be exploring that for future projects. I am completely forgetting where, but she also told me they recently purchased a vacant lot in the area where they have another new-build apartment project planned.
May 21, 20196 yr 3 hours ago, bdaily said: Maron Residence by aodkhttp://planning.city.cleveland.oh.us/landmark/agenda/2018/01252018/index.php Thanks! I couldn't find anything, haha. Looks like a solid plan.
May 21, 20196 yr 38 minutes ago, PoshSteve said: Spoke with the teams construction manager today. She confirmed that all financing is in place already, and the only things they need to work through are with the approvals. She also said this is all coming from private investors, and no opportunity zone funds, although they will be exploring that for future projects. I am completely forgetting where, but she also told me they recently purchased a vacant lot in the area where they have another new-build apartment project planned. The crazy thing about Hayoun is he doesn't even need the banks. His investors are professional athletes like Omri Casspi and even Mark Cuban, I'm told. He wants go higher than seven stories at 4005 Detroit but the zoning limits him to 82 feet. If he can rezone the site for next level height district, he can go to 115 feet, or 11 stories. And one of his next projects is a little farther east on Detroit Avenue, but I'm going to hold off on that one until I can put it in my blog. There is too much going on right now to devote an article to each project, so I'm going to summarize them into a single article. Hope to get it done in the next day or two. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 21, 20196 yr One more cool view of Snavely Phase 3 (BTW, did anyone here yet report that Snavely is moving its offices from Chagrin Falls to this development?), which doesn't show the now-under construction Church & State development in the background. How much cooler will this scene look in a couple of years?? The density of this area is going to be tremendous and very vibrant.... Edited May 21, 20196 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 21, 20196 yr I feel like my Big Egg news went unnoticed - but reflects how insane it was to not sell that property
May 21, 20196 yr I actually envision Gold Coast level density in the coming years. Basically between Franklin and Detroit and 45th and the river will be quite a dense little area
May 21, 20196 yr 2 minutes ago, YO to the CLE said: I actually envision Gold Coast level density in the coming years. Basically between Franklin and Detroit and 45th and the river will be quite a dense little area I would love that. The only space that should remain open in perpetuity is that little green space to the East of the Bop Stop
May 21, 20196 yr 57 minutes ago, YABO713 said: I feel like my Big Egg news went unnoticed - but reflects how insane it was to not sell that property As far as I know, the firm that offered to buy the Big Egg still doesn't have a contract to buy another location. Perhaps @Clefan98 has an update? "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 22, 20196 yr So the Voss property is on the market. Cool drone video by Aerial Agents! Edited May 22, 20196 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 22, 20196 yr 8 minutes ago, KJP said: So the Voss property is on the market. Cool done video by Aerial Agents! Kind of sad that Cleveland isn't able to retain Voss. However, their building will make some really cool apartments. The lot across the street is perfect new development to feed off the Market Square development.
May 22, 20196 yr 1 hour ago, imjustinjk said: Kind of sad that Cleveland isn't able to retain Voss. However, their building will make some really cool apartments. The lot across the street is perfect new development to feed off the Market Square development. Will be interesting and probably disappointing seeing how the eventual developer provides parking for the site. Hopefully we see the current surface lot developed, but seems likely it just stays parking. I'm still annoyed that MRN demolished a bar on Lorain Avenue to provide more parking for the United Bank Building.
May 22, 20196 yr 8 minutes ago, StapHanger said: Will be interesting and probably disappointing seeing how the eventual developer provides parking for the site. Hopefully we see the current surface lot developed, but seems likely it just stays parking. I'm still annoyed that MRN demolished a bar on Lorain Avenue to provide more parking for the United Bank Building. MRN has made mostly solid development moves, but they've been on shaky ground. Chinato is leaving bc they wouldn't negotiate with ZB. Ate their Saturday thankfully before they closed. I live in Lofts at Rosetta, and I'm honestly glad to be moving out next month. They've changed A LOT in the past few years that I've lived in their properties. It's really a crime to have any sort of flat surface parking abutting a main corridor such as W. 25th or Lorain.
May 22, 20196 yr Out of curiosity... what bar on Lorain? I remember Envy on 25th being demoed. Envy had some other things going on with it though, if I remember correctly. Like drug money front or something. For the record I hate all the surface lots in this area.
May 22, 20196 yr Can't make out (or remember) the name, but you can see it in this view: https://bit.ly/2YGYNQY
May 22, 20196 yr 21 minutes ago, StapHanger said: Can't make out (or remember) the name, but you can see it in this view: https://bit.ly/2YGYNQY As long as Cleveland keeps approving it, it'll keep happening. That was a great building, too.
May 23, 20196 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 23, 20196 yr Voss Industries property in Ohio City sells for nearly $4.8 million https://www.cleveland.com/business/2019/05/voss-industries-property-in-ohio-city-listed-at-12-million.html By Jordyn Grzelewski, The Plain Dealer CLEVELAND, Ohio –– The longtime Ohio City headquarters of Voss Industries changed hands Wednesday for $4.78 million, according to Cuyahoga County property records. The property was not owned by Voss, but by an entity tied to former Voss executives. That group, Apocalypse Development Ltd., bought the property at 2168 West 25th St. in 2000 for $1.1 million, according to property records. The new buyer is identified in property records as R&L Ohio City LLC, which registered with the state last month. Who is behind the LLC is not clear from public records. When is the last time I-71 turned a profit?
May 24, 20196 yr Well that was fast, and is almost a 1/3rd of the asking price. Seems odd. Edited May 24, 20196 yr by tj111
May 24, 20196 yr It looks like David Rotenberg from Bixby Bridge Capital, LLC is the buyer. He is listed on the incorporation documents for R&L Ohio City LLC.
May 24, 20196 yr DAVID ROTENBERG David Rotenberg is a Principal and joined Bixby in 2007. Prior to joining Bixby, Mr. Rotenberg practiced law in Chicago at a large firm. Mr. Rotenberg graduated with honors from Vassar College in 1999 and received a J.D. from the University of Chicago Law School in 2004. https://www.bixbybridgecapital.com/our-team/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 24, 20196 yr FRIDAY, MAY 24, 2019 Seeds & Sprouts - Early intel on real estate projects This is the first edition of Seeds & Sprouts - Early intelligence on Cleveland-area real estate projects. Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome. Ohio City: Voss plant to become apartment complex More than 250 apartments are planned in Ohio City's Market District following the purchase of Voss Industries' property, 2168 W. 25th St., two sources said. The 4.2-acre site and its multiple buildings totaling 240,000 square feet were sold May 22 for $4.775 million to a paper company formed by David Rotenberg, a principal of Bixby Bridge Capital, LLC in the Chicago suburb of Northbrook, IL, according to Ohio Secretary of State filings. MORE: https://neo-trans.blogspot.com/2019/05/seeds-sprouts-early-intel-on-real.html AND Ohio City: from furniture to Pins Daniels Furniture, 1882 W. 25th St. in Ohio City, is reportedly under a purchase agreement by developer Chad Kertesz for renovation and conversion into a bowling alley named Pins, two sources say. The Ohio City neighborhood is popular with young professionals and bowling is a popular participatory sport among young people, so it's not surprising that a bowling alley is a strike for the Market District. MORE: https://neo-trans.blogspot.com/2019/05/seeds-sprouts-early-intel-on-real.html Edited May 24, 20196 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 7, 20196 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 7, 20196 yr Wo. That is a massive expansion! All the way down Lorain and Detroit! Bravo to Ohio City!
June 7, 20196 yr I don't know if this is the correct thread and I hate to be that person (I know...somebody will post it when there is news) but still....does anybody know what is going on with the Irishtown Bend park project. I know it is massive and funding is and will be difficult but I have not seen anything about it for a long time. I really believe this is a vital project for the city...just as important as the lakefront.
June 7, 20196 yr 12 minutes ago, Htsguy said: I don't know if this is the correct thread and I hate to be that person (I know...somebody will post it when there is news) but still....does anybody know what is going on with the Irishtown Bend park project. I know it is massive and funding is and will be difficult but I have not seen anything about it for a long time. I really believe this is a vital project for the city...just as important as the lakefront. From my understanding (and I may be mistaken so please correct me if so), the funding will not be an issue - rather design approvals, etc. will be an issue due to the unstable nature of the topography and the fact that its an active archaeological site as well.
June 7, 20196 yr 5 minutes ago, YABO713 said: From my understanding (and I may be mistaken so please correct me if so), the funding will not be an issue - rather design approvals, etc. will be an issue due to the unstable nature of the topography and the fact that its an active archaeological site as well. Thanks for the info. Are you aware of which entities are actually responsible for the project (in other words getting it done). Who is taking the lead?
June 7, 20196 yr 1 minute ago, Htsguy said: Thanks for the info. Are you aware of which entities are actually responsible for the project (in other words getting it done). Who is taking the lead? I am not, sorry.
June 7, 20196 yr The issue is funding. Last I heard, the City and Port Authority along with OCI are trying to find money and develop an overall financing strategy to pay for the massive costs identified in the vision plan they did a few years ago. Edited June 7, 20196 yr by mu2010
June 7, 20196 yr 42 minutes ago, mu2010 said: The issue is funding. Last I heard, the City and Port Authority along with OCI are trying to find money and develop an overall financing strategy to pay for the massive costs identified in the vision plan they did a few years ago. I certainly trust your source more than mine - as mine is my neighbor. But, it's curious nonetheless how I heard the exact opposite.
June 7, 20196 yr I've been told that Irishtown Bend has some money but nowhere near enough to move forward. It all starts with the bulkheads and that's a crazy long process with the Army Corps of Engineers. But I will defer to @3231 to lay out the whole picture, including who is the lead sponsor. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 7, 20196 yr Gotta love the Army Corp of Engineers. Not that I have any specific knowledge, but haven't they been dealing (or not dealing) with this issue for years, way before the new Irishtown Bend master plan (which as KJP notes relies on the bulkhead repair). You would think the process would be in its final stages by now. I am surprised the shipping industry and steel plant are not exerting more pressure to get this done.
June 7, 20196 yr My conversation with the port—granted this was years ago—was that they had identified discrete pieces that different groups would be in charge of. The port for bulkheads, cmha for demolition, neorsd for infrastructure, cleveland water for pipes,etc. and that they could do pieces independently. Some funding may be ready for each part
June 7, 20196 yr There is funding to purchase and demolish buildings along 25th north of Riverview towers: http://realestate.cleveland.com/realestate-news/2017/02/ohio_city_park_plan_at_irishto.html The port went out for engineering work for the bulkheads this past winter: http://www.portofcleveland.com/media/1274/poc-itb-stability-design-soq-package.pdf
June 7, 20196 yr 1 hour ago, mu2010 said: There is funding to purchase and demolish buildings along 25th north of Riverview towers: http://realestate.cleveland.com/realestate-news/2017/02/ohio_city_park_plan_at_irishto.html The port went out for engineering work for the bulkheads this past winter: http://www.portofcleveland.com/media/1274/poc-itb-stability-design-soq-package.pdf So we're looking at a year or so before the engineering is done and then another year of funding procurement, assuming there are no federal cutbacks of the Corps, shutdowns or other political BS. Writing of the RFP and bidding could take another year beyond that. Having been a part of a few federally funded projects, you learn to be patient. Not one of my strong suits, however. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 7, 20196 yr Yeah it's just a very long term project. The other thing is the demolitions up on 25th need to be done **very** carefully to avoid exacerbating the instability, so I assume that's what is slowing down that piece. Edited June 7, 20196 yr by mu2010
June 7, 20196 yr Franklin Circle is underway! After years of talk, rumors, and speculation with projects, it’s exciting to see ones come alive. Never gets old.
June 7, 20196 yr 50 minutes ago, G00pie said: This is so cool! two buildings going up at the same time! two crains in Ohio City? It’s a pretty sizable building (116 units). But only 5 floors. So I don’t think we’ll see a crane there. What’s really cool is the city is going to actually make it a traffic circle again. That’s supposed to be done at the same time. Edited June 7, 20196 yr by marty15
June 7, 20196 yr 1 hour ago, G00pie said: This is so cool! two buildings going up at the same time! two crains in Ohio City? I’m having a late September wedding and hoping Church and State’s crane is up by then. Admittedly I want some of my out of town guests to feel that crane envy. Maybe I’ll get lucky and the nuCLEus site will be gated off and Euclid Grand will have a mobile hydraulic crane parked in front of it ?
June 7, 20196 yr You'll probably see a crane at Market Square, however, but probably not until early next year. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 8, 20196 yr 1 hour ago, freethink said: This is going up at the corner of 25th and the infamous Seymour Ave. I take my cat to this clinic. They’re great. Excited to see this going up.
June 11, 20196 yr Will that Animal Clinic go all the way to the sidewalks on both 25 and Seymour? It looks like it might, but can't tell.
June 12, 20196 yr 6 hours ago, Pugu said: Will that Animal Clinic go all the way to the sidewalks on both 25 and Seymour? It looks like it might, but can't tell. http://planning.city.cleveland.oh.us/designreview/drcagenda/2018/08172018/index.php - few pages over
June 13, 20196 yr WEDNESDAY, JUNE 12, 2019 Seeds & Sprouts II - Early intel on real estate projects This is the second edition of Seeds & Sprouts - Early intelligence on Cleveland-area real estate projects. Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome. Ohio City: Hemingway favored to acquire county land The former Cuyahoga County Engineer's headquarters property at the west end of the Veterans Memorial Detroit-Superior bridge is recommended to be sold to Hemingway Development, a county source said. The property, at 2429 Superior Viaduct, went on the market in an open-bid request for proposals (RFP) last winter. MORE: https://neo-trans.blogspot.com/2019/06/seeds-sprouts-ii-early-intel-on-real.html Ohio City: Dalad Group submits plans for Tinnerman Building Nearly three years after purchasing the historic Tinnerman Building, 2038 Fulton Road, The Dalad Group of Independence has declared its intentions to redevelop the largest portion into 53 apartments. The "announcement" came in the form of a zoning variance request to the city's Board of Zoning Appeals (BZA). MORE: https://neo-trans.blogspot.com/2019/06/seeds-sprouts-ii-early-intel-on-real.html Edited June 13, 20196 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 13, 20196 yr ^ the north and south side of Detroit east of W. 25th really need a lot of work. It’s the gateway to the west side / Ohio city. Hemingway is the perfect developer to have site control over the the NE corner of Detroit-W. 25th. Hopefully plans for that come out soon.
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