Market Rate Housing - Cleveland

  • Berkadia Secures $50M in Financing for Cleveland Project

    The company secured the loan from Related Fund Management for the development of Centric Apartments, a 272-unit community.

    03 January 2017 08:33
  • Out-of-State Investor Buys 70 Units in East Cleveland

    The 70-unit Parkview Estates Apartments in East Cleveland, Ohio was bought by Florida-based investors for $850,000, or $12,142 per unit.

    29 February 2016 18:08
  • A New Tower in the Works for University Circle

    In the hot Cleveland multifamily market, two developers are looking to build a new apartment tower. The project could be the first new high-rise apartment construction in the city since the 1970s.

    28 August 2015 19:34
  • Huge Win for Huge Greater Cleveland Development

    The $225 million Pinecrest mixed-use development in Orange, a village just southeast of Cleveland, has recently received a helping hand from a national investor.

    07 August 2015 19:08
  • Cleveland Developers Can’t Get Enough Apartments

    A new residential project just broke ground near downtown Cleveland.

    29 July 2015 15:59
  • Four Northeast Ohio Projects Get Historic Tax Credits

    Four more Northeast Ohio real estate projects have received assistance from the state in the month of June. This time, the funds are Ohio State Historic Preservation Tax Credits.

    03 July 2015 04:45
  • Massive Cleveland Historic Building’s Massive Transformation

    More details have come to light about the redevelopment of Cleveland’s former Huntington Building. On June 16, during a press tour of the historic building, the new owner revealed that it indents to convert the mammoth structure into a mixed-use property.

    18 June 2015 02:58
  • Downtown Cleveland Multifamily Property to Make Fresh Start This Year

    A former warehouse-turned apartment building is getting ready for a fresh start. The downtown Cleveland property will continue to serve as an apartment building, but it will do so with a new look and a new name.

    08 June 2015 20:46
  • Boston-Based Investor Buys 50-Unit Apartment Complex in Cleveland Heights

    Noble Summit Apartment Properties LLC is the new owner of the apartment complex at 2734 Noble Road in Cleveland Heights. The Boston-based company paid $1,330,000 or $26,600 per unit, to purchase the multi-family property in a transaction which closed earlier this year.

    22 March 2015 04:54
  • Developers Plan Almost 400 New Apartments for Downtown Cleveland

    Although apartment construction in Greater Cleveland has reached a five-year high, it doesn’t seem to want to stop here. Developers continue to announce more and more projects. The two most recent ones are expected to bring almost 400 new units to the city’s downtown area.

    12 July 2014 04:42
  • 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.

    05 June 2014 13:27
  • 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 scheduled for early 2013, but the project was delayed and many people started to wonder if it will ever happen. The answer is: it will.

    10 May 2014 04:04
  • Cleveland Metro Area Apartment Construction Achieves Five-Year High

    In recent years, the soft job market and the uncertainty about the local economy kept many people in the Cleveland area from buying new homes. Instead, they opted to rent. That’s why, during 2012, apartment vacancy in the metro area reached one of the lowest levels of the last decade. Marcus & Millichap reports that apartment construction in the Cleveland area has reached a five-year high, as many developers looked to take advantage of the low vacancy levels. 550 units were completed in 2013 and builders are expected to deliver 750 units this year. Apartment construction projects seem to be springing up like mushrooms after the rain.

    18 February 2014 05:00
  • $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.

    14 October 2013 00:38
  • Work Resumes on Schofield Building Conversion; Eight Northeast Ohio Projects Receive Historic Preservation Tax Credits

    After a 3-year break, work is restarting on the conversion of the 14-story Schofield Building in downtown Cleveland. The $50 million project will deliver a 122-room hotel, 55 luxury apartments, a ground-floor restaurant and retail space at East Ninth Street and Euclid Avenue by late 2014.

    09 July 2013 20:26