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Cleveland Seeks $260M Federal Grant for Lakefront Revitalization

Cleveland is forging ahead with its ambitious plans to transform the downtown shoreline, undeterred by the uncertainty surrounding the future location of the NFL Browns’ lakefront stadium. In April, the city applied to the U.S. Department of Transportation for $260 million in funding to help cover the costs of a $440 million overhaul of the downtown section of the Ohio 2 Shoreway and the construction of a lakefront “land bridge” from the Mall to North Coast Harbor. This application marks Cleveland’s first significant effort to secure federal funds to create a more beautiful and accessible downtown lakefront after a century of numerous failed attempts. City officials recently discussed the grant application and other lakefront initiatives to clarify that the uncertainty over Browns Stadium is not hampering their efforts. Jeff Epstein, the city’s chief of integrated development, and Scott Skinner, the first director of the city’s new private, nonprofit North Coast Waterfront Development Corp., highlighted the ongoing work on the lakefront and the plans for the next year. They emphasized that revamping the Shoreway and building the lakefront connector, or land bridge, are critical to the city’s vision, regardless of the stadium’s future location. Key Components of the Project   Enhanced Transportation Networks: A significant portion of the funding will improve connectivity between downtown Cleveland and the lakefront. This includes constructing pedestrian bridges, bike paths, and enhanced public transit routes, making the waterfront more accessible to residents and visitors alike. Public Amenities and Recreational Spaces: The project aims to create new parks, recreational facilities, and public spaces along the lakefront. This will provide more leisure opportunities for the community, attract tourists, and stimulate local businesses. Environmental Sustainability: A focus on green infrastructure is central to the project. Plans include implementing sustainable practices such as stormwater management systems, native landscaping, and creating habitats to support local wildlife. Economic Development: By revitalizing the lakefront, Cleveland aims to attract new businesses, restaurants, and cultural attractions. This economic boost is expected to create jobs, increase property values, and enhance the overall quality of life for residents. Community Impact City officials believe the grant will significantly impact the local community by fostering a sense of pride and ownership among residents. The project aims to create a lakefront that is visually appealing, functional, and beneficial for the entire city. “We are incredibly excited about the potential of this project,” said Cleveland Mayor Justin Bibb. “Securing this federal grant would allow us to make transformative changes that will benefit Clevelanders for generations to come. Our lakefront is one of our greatest assets, and this investment will help us unlock its full potential.” Addressing the Stadium Uncertainty The uncertainty regarding Browns Stadium’s location remains, as the team’s owners, Jimmy and Dee Haslam, have proposed a $2.4 billion domed stadium and entertainment district in suburban Brook Park. This proposal raises questions about the future of the current lakefront stadium, where the team’s lease runs out in 2028. Renovating the existing stadium is expected to cost about $1 billion, with taxpayers contributing a substantial portion. Despite this, the Browns have voiced their support for the city’s ongoing lakefront development efforts. “We have stated continuously how we feel about the lakefront and how we feel something needs to happen down there with our stadium or without,” said Peter John-Baptiste, the Browns’ spokesman. Next Steps The application for the federal grant is a competitive process, with cities nationwide vying for a share of the funding. Cleveland’s proposal has been meticulously crafted to highlight the city’s unique strengths and the broad benefits of the project. Community leaders and stakeholders have been actively involved in the planning process, ensuring that the project reflects the needs and desires of Cleveland’s residents. Public meetings and feedback sessions have been held to gather input and build a vision that is inclusive and forward-thinking. Conclusion Cleveland’s pursuit of the $260 million federal grant represents a significant step toward reshaping the city’s lakefront. If successful, this project will not only transform the physical landscape but also invigorate the local economy and improve the quality of life for all Clevelanders. The city’s commitment to innovation, sustainability, and community engagement makes this an exciting chapter in Cleveland’s ongoing development story.

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Cleveland’s Circle East District: A Hub of Green Innovation

The Circle East District in Cleveland is rapidly becoming a beacon of sustainability, showcasing a variety of innovative efforts aimed at promoting environmental stewardship and community well-being. As urban areas worldwide grapple with the challenges of climate change and resource management, Circle East is setting an inspiring example of how local initiatives can drive substantial, positive change. Green Spaces and Urban Agriculture One of the most visible transformations in the Circle East District is the expansion of green spaces and urban agriculture projects. Community gardens and urban farms have sprung up, providing residents with access to fresh, locally grown produce. These spaces not only improve food security but also foster a sense of community and provide educational opportunities about sustainable farming practices. The district’s green spaces are carefully designed to support biodiversity. Native plants and trees have been strategically planted to create habitats for local wildlife, helping to restore ecological balance in the urban environment. These green corridors also contribute to improved air quality and provide natural cooling, reducing the urban heat island effect. Renewable Energy Initiatives Circle East is also at the forefront of renewable energy adoption. Solar panels have been installed on numerous buildings, from residential homes to commercial properties. These installations are part of a broader effort to reduce the district’s carbon footprint and reliance on fossil fuels. In addition to solar energy, the district is exploring wind and geothermal energy options, making it a model of diverse renewable energy use. Energy-efficient building designs are another critical component of Circle East’s sustainability strategy. New constructions and retrofitted buildings incorporate advanced insulation, energy-efficient windows, and smart energy management systems. These measures significantly reduce energy consumption and enhance the overall sustainability of the built environment. Water Management and Conservation Effective water management is a cornerstone of Circle East’s sustainability efforts. The district has implemented innovative solutions to manage stormwater and reduce runoff, which is crucial in preventing flooding and protecting water quality. Permeable pavements, green roofs, and rain gardens are just a few examples of the techniques used to capture and filter rainwater naturally. Water conservation programs encourage residents and businesses to reduce water usage. These programs include incentives for installing low-flow fixtures, educational campaigns on water-saving practices, and initiatives to recycle greywater for non-potable uses. By prioritizing water conservation, Circle East is safeguarding this vital resource for future generations. Community Engagement and Education Central to the success of Circle East’s sustainable initiatives is the strong emphasis on community engagement and education. Regular workshops, seminars, and community events are held to raise awareness about sustainability issues and solutions. These educational efforts empower residents to take an active role in the district’s green transformation. Local schools and universities are key partners in these educational initiatives. Students participate in hands-on projects and research that contribute to the district’s sustainability goals, fostering a culture of environmental responsibility among the younger generation. This collaboration between educational institutions and the community ensures that sustainability remains a priority well into the future. Economic and Social Benefits The sustainable efforts in Circle East are not only environmentally beneficial but also economically and socially advantageous. Green jobs have been created in areas such as renewable energy installation, urban farming, and environmental education. These jobs provide local employment opportunities and support the district’s economic growth. Socially, the emphasis on sustainability has strengthened community bonds. Shared green spaces and community projects bring residents together, fostering a sense of collective ownership and pride. The improved quality of life resulting from cleaner air, better access to fresh food, and enhanced recreational spaces contributes to the overall well-being of the district’s residents. Looking Ahead As Circle East continues to evolve, its commitment to sustainability serves as a powerful example for other urban areas. The district’s comprehensive approach, integrating environmental, economic, and social dimensions, highlights the potential of local initiatives to drive significant progress in the fight against climate change and resource depletion. The journey of Circle East is a testament to the impact of community-driven efforts and innovative thinking. By embracing sustainability, this vibrant district in Cleveland is not only enhancing its own resilience and livability but also inspiring other communities to follow in its footsteps toward a greener, more sustainable future.

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Detroit City Corktown Stadium: The New Heart of Soccer in Detroit

Detroit City Football Club (DCFC) has announced a significant milestone in its journey to establish a permanent home for soccer in Detroit. The club has acquired the site of the former Southwest Detroit Hospital at the corner of Michigan Avenue and 20th Street, with plans to open a state-of-the-art soccer-specific stadium by the 2027 season. “This is a huge step for our organization to build a modern venue to serve our club and community,” said CEO Sean Mann. “As longtime residents of the city, the leaders and founders of the Club view this project not only as an opportunity to grow our organization and sport, but as a civic endeavor to give back to the city we love.” The new stadium will replace the long-abandoned hospital site, transforming it into a vibrant center for soccer and community activities. The project is expected to revitalize the area, creating a positive impact on local businesses and residents. “A DCFC home match is a can’t-miss stop for any true sports fan in the US,” said Alex Wright, Co-Owner and Chief Creative Officer. “Our players, staff, and supporters deserve a stadium with modern amenities that retains the best elements of Keyworth while putting the club on firmer financial footing.” Strategically located near major highways and the re-opened Michigan Central Station, the new stadium will enhance accessibility and convenience for fans. Its proximity to Corktown and Mexicantown will allow DCFC to integrate seamlessly with the existing community, adding to the area’s growing vibrancy. The move is seen as a unique opportunity for DCFC to create a distinct identity, separate from other professional sports teams concentrated in downtown Detroit. By situating the stadium in Southwest Detroit, the club aims to stand out and offer a unique sports experience. “We’re tying into Mexicantown, we’re tying into Corktown,” Mann said. “We want the matchday to be fun, special, unique. It’s an experience, that’s what sports are.” While the new stadium is being developed, DCFC will continue to play at Keyworth Stadium in Hamtramck, preserving the fervent energy of its fanbase. The club remains committed to engaging with supporters, city residents, and community leaders to ensure the new stadium reflects the community’s needs and aspirations. This new development marks a monumental step forward for DCFC and the city of Detroit, promising to deliver a lasting home for soccer and a boost to the local community. If you would like more information on our Detroit properties please email invest@globalinvestmentsicnorproated.com

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UK Locations are a Top Choice for Middle East property Investors

There was a great Article in Arabian Business on 3rd June 2024 talking about UK real estate mentioning that London is top choice for UAE investors with Manchester, Birmingham interest increasing. Here is the article in full, in general the UK as a whole is a safe haven for property investors from the middle east, Here at Global Investments, we have several UK property Investment Opportunities for the Middle East Investor. Please contact one of our Property Experts to discover the options. Starting with London. There are several key factors contributing to London’s allure, including its robust infrastructure, thriving economic environment, and rich cultural heritage The London property market has emerged as an attractive investment sector for GCC investors, especially from Saudi Arabia and UAE, said Adam Price, CEO of Select Property. “London’s appeal to UAE investors underscores its long-standing reputation as a stable and lucrative market for international property investment,” he said. Price highlighted several key factors contributing to London’s allure, including its robust infrastructure, thriving economic environment, and rich cultural heritage. These elements, he noted, make London a prime destination for investors seeking capital growth and secure returns. According to a new survey by Barratt London, London emerged as the most popular destination for real estate investment, for UAE investors, as compared to other property hubs around the world. The survey revealed that over 69 percent of investors picked London as their top choice from a list of 10 global capital cities. Following London, New York and Singapore took the second and third spot on the rankings. “The findings suggest that London is a reliable and secure option for UAE property investors, providing them with profitable investment prospects and opportunities for capital growth,” Stuart Leslie, International Sales and Marketing Director at Barratt London said. Additionally, the surge was driven by attractive mortgage rates and a weakening British pound against the US dollar, making properties in the UK capital appealing to investors from the GCC region. Leslie further suggested that GCC investors looking to buy real estate in London should consider features such as green spaces and transport links. “Choosing to purchase a home overseas can be an exciting journey. This study has revealed some interesting insights into some key elements that GCC investors should consider,” he said. Manchester, Birmingham – Rising to the ranks…………However, Price also pointed out that London is not the only UK city attracting significant interest from GCC investors, particularly those from Saudi Arabia (KSA) and the UAE. “In fact, GCC investors, those from KSA and the UAE in particular, have noticed increased ROI in developments in other established UK areas like Manchester and Birmingham.” “While London remains a prime destination, we have observed that GCC investors are increasingly turning their attention to other established UK areas like Manchester and Birmingham,” Price noted. Manchester has experienced a rise in property values, with an increase of 13 percent over the past five years. Similarly, Birmingham has seen average rents soar by 16.7 percent in 2023 alone. These cities, Price noted, are becoming increasingly sought after for their potential to deliver strong returns on investment. According to research by Joseph Mews, a property investment firm in the UK, the best places to invest in 2024 included Birmingham, Derby, Leeds, Manchester and Sheffield. Best places to invest in UK 2024 Birmingham Average property price: £244,741 Average monthly rent: £1,232 Average rental yield: 6% Price growth prediction (2023-2027): 19.2 percent Rental growth prediction (2023-2027): 19.3 percent Derby Average property price: £229,437 Average monthly rent: £836 Average rental yield: 4.4 percent Price growth prediction (2023-2027): 20.5 percent Rental growth prediction (2023-2026): 12 percent Leeds Average property price: £248,931 Average monthly rent: £1,341 Average rental yield: 6.5 percent Price growth prediction (2023-2027): 14.2 percent Rental growth prediction (2023-2026): 15.9 percent Manchester Average property price: £251,038 Average monthly rent: £1,515 Average rental yield: 7.2 percent Price growth prediction (2023-2027): 19.3 percent Rental growth prediction (2023-2027): 21.6 percent Sheffield Average property price: £244,682 Average monthly rent: £924 Average rental yield: 4.5 percent Price growth prediction (2023-2026): 11.7 percent Rental growth prediction (2023-2026): 11.5 percent Liverpool Average property price: £191,335 Average monthly rent: £920 Average rental yield: 5.8 percent Price growth prediction(2023-2027): 11.9 percent Rental growth prediction (2023-2027): 15.9 percent Newcastle Average property price: £221,796 Average monthly rent: £1,200 Average rental yield: 6.5 percent Price growth prediction (2023-2026): 13.5 percent Rental growth prediction (2023-2026): 12.38 percent Leicester Average property price: £264,558 Average monthly rent: £1,235 Average rental yield: 5.6 percent Price growth prediction (2023-2026): 17.5 percent Rental growth prediction (2023-2026): 45 percent Nottingham Average property price: £262,461 Average monthly rent: £1,227 Average rental yield: 5.6 percent Price growth prediction (2023-2026): 17.5 percent Rental growth prediction (2023-2026): 35.41 percent Glasgow Average property price: £226,741 Average monthly rent: £1,141 Average rental yield: 6 percent Price growth prediction (2023-2026): 14.2 percent Rental growth prediction (2023-2026): 15.3 percent Last year, Bloomberg reported that investors from the Middle East saw a massive surge in prime real estate properties located in central London. The figures hit a four-year high following the weakening currency rate. Buyers from the region accounted for up to 11 percent of transactions in the capital, some located in London’s most prestigious areas. Understanding the dynamics of the best places to invest in UK property involves a comprehensive look at several factors, including past performance, current returns, and future potential, experts say. Key considerations such as property prices, rental yields, tenant demand, transport links, employment opportunities, population growth, and affordability help shape the investment landscape. “More than ever, now is the best time to invest in property. With interest rates lowering as 2024 progresses, and the market continuing to grow, many investors are considering where to invest in UK property,” the Joseph Mews report affirmed. Here at Global Investments, we have several UK property Investment Opportunities for the Middle East Investor. Please contact one of our Property Experts to discover the options. Credit to Arabian Business Magazine on line UK real estate: London top choice for UAE investors with Manchester, Birmingham interest

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