Cleveland
Pinecrest Development in Orange One Step Closer to Construction Start
A small village in Northeast Ohio is about to have a huge impact on the entire area. On November 5, residents of the village of Orange voted to approve plans to rezone a residential neighborhood and pave the way for a 76-acre mixed-use project that will bring new, upscale shopping to the region. According to unofficial results from the Cuyahoga County Board of Elections, 709 people voted for Issue 51, while 532 were against it.
Cleveland Named Most Affordable Housing Market in United States
Looking to buy a house in Cleveland? You’re in luck! The Northeast Ohio city is the most affordable housing market in the nation, according to an annual report by Coldwell Banker Real Estate, the oldest national real estate brand in the United States.
Smartland Buys Lee-Yorkshire Apartments in Cleveland Heights
Smartland, Cleveland’s largest real estate investment firm and one of Ohio’s top property management companies, has purchased the Lee-Yorkshire Apartments. The price of the transaction was not disclosed.
Developers Break Ground on New Cambria Suites Hotel in Avon
Another hotel is under construction in the Cleveland area. Choice Hotels International, Inc., Ceres Enterprises, LLC, and Consolidated Construction Company started work on October 21 on a new Cambria Suites hotel at 35600 Detroit Road in Avon. The cost of the project was not announced.
$250M Project to Deliver Marriott Autograph Collection Hotel, 205 Apartments to Downtown Cleveland
The GEIS Companies and Sandvick Architects, both based in Cleveland, have teamed up to bring new life to the intersection of East Ninth Street and Prospect Avenue, a long overlooked area in the city’s downtown. Dubbed The 9, the $250 million development calls for the renovation and transformation of the former AmeriTrust Tower and historic Cleveland Trust Rotunda into a high-end complex featuring a luxury hotel, apartments, and much more. The project will create 1,000 construction jobs.
Jacobs Real Estate Services Sells Acreage in Avon for New Marriott Hotel
A new hotel is coming to Avon next year. Westlake-based Jacobs Real Estate Services, an independent affiliate of The Richard E. Jacobs Group, announced on Tuesday, October 1, it has agreed to sell a 4.27-acre site on Just Imagine Drive to Emerald Hospitality Associates Inc. and Nimbus Investment Fund. The price of the transaction was not disclosed.
Troubled Cleveland Shopping Center Going to Internet Auction
Retail Properties of America, one of the largest owners and operators of shopping centers in the United States, is trying to unload a five-story shopping center in University Heights, so it listed the property for sale on the Auction.com website.
Westfield Sells Two NE Ohio Malls to Starwood Capital Group
Two shopping malls in Northeast Ohio will have a new owner by the end of the year. The two properties are part of a portfolio of U.S. shopping centers The Westfield Group, a multinational company headquartered in Sydney, Australia, has agreed last week to sell to an affiliate of Starwood Capital Group, an American private investment firm headquartered in Greenwich, Connecticut.
$110M Project Could Bring 400 Apartments to Cleveland’s May Co. Building
Downtown Cleveland is a magnet for multimillion dollar developments. The newest project on the list which includes Cleveland Convention Center and Global Center for Health Innovation, the renovation of Public Square, the Flats East Bank or the Horseshoe Casino Cleveland could transform the massive May Co. building on Public Square into apartments.
CNL Healthcare Properties Buys Elyria Medical Building for $20M
The Cleveland Clinic Elyria Family Health and Surgery Center has a new owner. Orland-based CNL Healthcare Properties Inc. has acquired the property as part of a six-building portfolio for which it paid a total of $59.5 million.