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Akron Children’s Announces $200M Tower Expansion

Akron Children’s Announces $200M Tower Expansion

By Adrian Maties, Associate Editor Akron Children’s Hospital has announced its plans to build a $200 million expansion of its campus in downtown Akron. The project is called ”Building on the Promise” and will help the hospital keep up with the increase in patients and services. This is Akron Children’s…

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Cleveland’s Old Saint Luke’s Hospital Becomes Apartment Complex

Cleveland’s Old Saint Luke’s Hospital Becomes Apartment Complex

By Adrian Maties, Associate Editor Cleveland’s Saint Luke’s Hospital closed in 1999 and sat empty in the heart of the Buckeye-Shaker neighborhood until last year. But after private developer Pennrose Properties and other organizations got together and restored the hospital, it became Saint Luke’s Manor, a huge apartment complex that…

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Hemingway Development to Expand MidTown Tech Park

Hemingway Development  to Expand MidTown Tech Park

By Adrian Maties, Associate Editor Hemingway Development, a division of Streetsboro-based Geis Cos., plans to invest $8.9 million to purchase and renovate a vacant four-story building at 6555 Carnegie Ave. in MidTown Tech Park, in the Health-Tech Corridor. MidTown Tech Park is right in the heart of the Health-Tech Corridor,…

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SIGNET Development Breaks Ground on $130M NEOMED Expansion Project

SIGNET Development Breaks Ground on $130M NEOMED Expansion Project

By Adrian Maties, Associate Editor SIGNET Development, a full-service real estate development and construction management firm co-headquartered in Akron, Ohio, and Jacksonville, Fla., broke ground on July 24 on a new  residential housing village in Rootstown for the Northeast Ohio Medical University (NEOMED). This is the first part of NEOMED’s…

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Cuyahoga County Eyes 250,000-SF Headquarters Space

Cuyahoga County Eyes 250,000-SF Headquarters Space

By Adrian Maties, Associate Editor In a planned series of moves that promise to make a collective splash in the Cleveland real estate market, the Cuyahoga County government is in the hunt  for 225,000 square feet for a new headquarters and another 200,000 square feet for record storage. In addition, the…

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Cleveland to Get New Police Station

Cleveland to Get New Police Station

By Adrian Maties, Associate Editor The city of Cleveland is working together with MidTown Cleveland Inc. on a $17.5 million development project that will bring the first new police station to the city in 34 years. The project will help make the neighborhood safer, will catalyze development–and will free two…

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Cleveland Skyscraper Avoids Foreclosure

Cleveland Skyscraper Avoids Foreclosure

By Adrian Maties, Associate Editor Great news for the Tower at Erieview, one of downtown Cleveland’s best-known buildings. A foreclosure case against the office-retail complex at 1301 E. Ninth St. has been dropped, thanks to the efforts of Werner Minshall, the owner of the property. He managed to find a…

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Cleveland Medical Mart Achieves Milestone in Construction Process

Cleveland Medical Mart Achieves Milestone in Construction Process

By Adrian Maties, Associate Editor The $465 million Medical Mart & Convention Center project under construction in Cleveland has now reached an important milestone. On Friday, June 22, the uppermost steel beam was placed on top of the building in a topping out ceremony. Dignitaries and hundreds of construction workers…

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Investor Trio to Breathe New Life into Avenue Tower

Investor Trio to Breathe New Life into Avenue Tower

By Adrian Maties, Associate Editor With Downtown Cleveland’s occupancies approaching 96 percent and growing, according to Metro Trends, a local group of investors is hoping to acquire the residential portion of the Avenue District condominium tower downtown and rent out the empty apartments. Located at the intersection of East 12th Street…

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Cleveland Clinic, Ohio University to Invest $49.1M into Northeast Ohio

Cleveland Clinic, Ohio University to Invest $49.1M into Northeast Ohio

By Adrian Maties, Associate Editor The United States is facing a growing shortage of primary-care physicians, but the Cleveland Clinic and Ohio University are taking steps to alleviate the situation in Cleveland. They recently signed an affiliation agreement and plan to invest $49.1 million into Northeast Ohio to open a…

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East Side Office Portfolio in Foreclosure

East Side Office Portfolio in Foreclosure

By Adrian Maties, Associate Editor In 2007, Gotham King Fee Owner L.L.C., a joint venture of Gotham Realty Holdings of New York and Beachwood developer and broker Donald King, paid $140 million for nine office buildings in the eastern suburbs of Cleveland. The joint venture acquired the Gotham King portfolio…

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California Pension Fund Acquires Statler Arms

California Pension Fund Acquires Statler Arms

By Adrian Maties, Associate Editor The California State Teachers’ Retirement System acquired a majority stake in LCOR, a Berwyn, Pa.-based unit of the defunct financial giant Lehman Brothers Holdings Inc. Included in the more-than-$800 million transaction are 14 apartment buildings totaling 5,000 units and including Statler Arms Apartments in Downtown…

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