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Ten Northeast Ohio Rehabilitation Projects Receive More Than $20M In Historic Tax Credits

Ten Northeast Ohio Rehabilitation Projects Receive More Than $20M In Historic Tax Credits

Round 12 of the Ohio Historic Preservation Tax Credit program has brought good news to 35 rehabilitation projects in 13 communities across the state of Ohio. They will receive a total of $37.7 million in tax credits. According to the Ohio Development Services Agency, these 35 projects are expected to…

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Devonshire REIT Buys Beachwood’s Pavilion Shopping Center for $35M

Devonshire REIT Buys Beachwood’s Pavilion Shopping Center for $35M

Devonshire REIT, Inc. announced on Monday, June 16, the addition of a new grocery-anchored power center to its 44-property portfolio. The real estate investment trust paid $35 million to acquire the Pavilion Shopping Center, located in the Cleveland suburb of Beachwood. Huntington Bank provided financing for the transaction.…

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Cleveland Clinic, Select Medical to Build New Adult Inpatient Rehabilitation Hospital in Avon

Cleveland Clinic, Select Medical to Build New Adult Inpatient Rehabilitation Hospital in Avon

The Cleveland Clinic has recently formed a joint venture with Select Medical, one of the nation's largest providers of specialized acute and post-acute care. The two organizations plan to enhance inpatient rehabilitation services in Northeast Ohio and build a new 60-bed adult inpatient rehabilitation hospital in Avon.…

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Cleveland City Council Approves $700M Lakefront Development

Cleveland City Council Approves $700M Lakefront Development

Cleveland’s lakefront is getting a makeover. The city has recently approved plans to develop over 20 acres of lakefront property close to Cleveland’s central business district.The project is expected to cost $700 million.…

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Joint Venture Buys Large Cleveland Industrial Portfolio

Joint Venture Buys Large Cleveland Industrial Portfolio

A joint venture has recently acquired a large industrial portfolio in the Cleveland area. Alex. Brown Realty, Inc., a real estate investment firm headquartered in Baltimore, teamed up with Biynah Industrial Partners, LLC, a Minneapolis-based real estate private equity firm, to buy the Great Lakes Industrial Portfolio. The seller was…

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Cleveland’s Victory Center Wins 2014 Preservation Achievement Award

Cleveland’s Victory Center Wins 2014 Preservation Achievement Award

Victory Center is the result of a $26.6 million redevelopment of the almost 100-year-old four-story building at 7012 Euclid Avenue. This new, mixed-use complex is located in the core of Cleveland’s Health-Tech Corridor, and is now ready to house the city’s growing incubator and accelerator growth-stage companies.…

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Trulia Study Ranks Ohio Cities High for Affordable Housing

Trulia Study Ranks Ohio Cities High for Affordable Housing

Are you a middle-class American looking to buy a home? Head to the Midwestern United States and make sure you stay away from California. In a recently released study, real estate research firm Trulia took a look at the 100 largest metros in the country and listed the least and…

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Developers Plan to Break Ground This Fall of Phase I of Intesa

Developers Plan to Break Ground This Fall of Phase I of Intesa

In March 2012, University Circle Inc., a nonprofit corporation established in 1957, announced it had hired the Coral Co. of Cleveland and Panzica Construction Co. of Mayfield Village to develop the Intesa, a mixed-use project, one of the largest to be constructed in Cleveland’s University Circle neighborhood. Ground breaking was…

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Developers Break Ground on $272M, 600-Room Hilton Cleveland/Downtown Convention Center Hotel

Developers Break Ground on $272M, 600-Room Hilton Cleveland/Downtown Convention Center Hotel

Cleveland is getting ready to say hello to a new skyscraper. On Monday, April 28, ground was broken on the new Hilton Cleveland/Downtown Convention Center Hotel, a massive structure, standing 32 stories tall. Cuyahoga County Executive Ed FitzGerald and Cleveland Mayor Frank Jackson joined Ted Ratcliff, Senior Vice President of…

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Local Investors Buy Historic Aurora Inn, Plan Full Renovation

Local Investors Buy Historic Aurora Inn, Plan Full Renovation

A group of local investors has acquired the historic Aurora Inn this month. Led by Dan Bliss, Stephen Mansfield and Matt Lopatin, Aurora Hotel Partners, LLC plans to invest into this well-known fixture in the center of Aurora’s historic district and give it a full makeover.…

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Akron’s Newest Luxury Student Housing Community to Open in August

Akron’s Newest Luxury Student Housing Community to Open in August

In May, 2013, the Cleveland-based NRP Group, one of the largest multifamily developers in the nation, started work on a 624-bed, four-story luxury student housing community in Akron. Called the Depot, the project is now nearing completion. It is scheduled to open for residents this August.…

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Developers Plan $130M, 28-Story Apartment Tower in University Circle

Developers Plan $130M, 28-Story Apartment Tower in University Circle

Cleveland is getting ready to say hello to a new residential tower, the first to be developed in the city in more than 40 years. The new high-rise will cost $130 million and will be located in the city’s University Circle neighborhood.…

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