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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.

$10 million HUD boost for popular Cleveland Neighbourhood

The ongoing Woodhill Homes development project in the Buckeye-Woodhill neighbourhood, a six-phase, six-year $250 million development project by Cuyahoga Metropolitan Housing Authority (CMHA), the City of Cleveland, and Boston-based The Community Builders (TCB)—just received a post-COVID boost through a $10 million HUD Choice Neighborhood Supplemental Funding Grant. Earlier this month, HUD awarded additional funds to 16 current Choice Neighborhoods Implementation grantees throughout the country, including Buckeye-Woodhill. The additional funds are meant to address the pandemic-related disruptions and will be used on current construction projects for new, high-quality housing. “It allows us to be able to continue to move the project forward,” says CMHA CEO Jeffrey K. Patterson. “The pandemic created a lot of additional costs to the project. This allows us to have the opportunity to try to close some of those gaps and be able to keep things moving forward. We’re really excited about HUD’s efforts to try to support housing authorities with this additional funding.” Patterson says the additional costs were “across the board,” from labor to materials. “I think what’s good is that HUD said, ‘we understand that some of these things have changed. Here are some resources to keep those projects moving forward.’ I think that that is just great.” The Woodhill Homes Choice Transformation Plan first received a $350,000 Choice Neighbourhood Planning Grant in March 2018; then CMHA was awarded a $35 million HUD Choice Neighborhoods Implementation Grant to execute the transformation plan. In May 2021; and Marous Brothers Construction broke ground on the first phase last July at East 93rd Street and Buckeye Road. The $46.4 million phase one of the project will create 120 apartments, 42 one-bedroom, 62 two-bedroom, and 16 three-bedroom units, with 90 units reserved for current Woodhill residents, 18 units for residents earning under 60% Area Median Income (AMI), and 12 units for residents earning under 80% AMI. Other features include a fitness centre, a community room, outdoor picnic area, and playground for a total of 4,520 square feet of community space. Jeff Beam, regional vice president of The Community Builders, which works with the mission to build and sustain strong communities where people can thrive, says he is committed to a stronger Woodhill neighbourhood, where people have accessible and affordable housing options. “We have one-third of the units under construction, and another phase in the planning stages,” Beam says. “Relocation is always challenging, but we’ve developed good relationships. There’s been a tremendous amount of partnership collaboration and trust building.” Additionally, Beam stresses that the Woodhill project is a Buckeye-Woodhill community project. “It’s not our vision, it’s the community’s vision,” he says. “We’re just serving in the technical capacity to get the project done.” Patterson agrees that the project is moving along well, and that phase one should be completed by the first quarter of 2024. He says phase two at East 112th Street and Woodland Avenue broke ground in January. “You’ll begin to see the fences put up around the construction site and they actually are starting to be able to turn some dirt and get some things going on out there,” he says. “So, those are exciting things and [we] are going to create some really good housing opportunities for the folks in that Buckeye-Woodland community, as well as the current residents at Woodhill who get the first opportunity to return to the site.” The original Woodhill Homes was built in 1939 and was one of the first public housing developments in Cleveland, and is one of the oldest in the country. Both Beam and Patterson credit the work of Cleveland City Council president Blaine A. Griffin in his work to make the Woodhill Homes project a reality. Griffin adds that this project can be a positive catalytic change for Buckeye-Woodhill. “We have the potential to change the trajectory of the neighbourhood in a big way,” he says. We’re getting rid of one of the islands of poverty and attracting all these working families and middle-income families to the area. We’re working to stabilise and support the people who are here and attract the middle class with families back to the neighbourhood.” With the increase of new build homes in the area, this can bring economic growth and job opportunities to a community. Demand for properties grow and consequently produces higher property values which is good news for investors. If you would like more information or wish for a call regarding the latest properties Global Investments can offer in this location then please email us today at : invest@globalinvestmentsincorporated.

Cleveland rent increases ranked 3rd highest nationally

In recent months, Cleveland has been making waves nationally for its huge rent increases, outpacing even larger metropolitan areas. This rent surge in Cleveland has captured national attention, with monthly reports from tech real estate companies highlighting alarming trends. Here’s what the latest data reveals: Cleveland’s Remarkable Rankings: Third highest nationally for overall rent increase (6.5% between March 2023 and March 2024). Top ranking for single-family home rent increase (jumped by 9.4% during the same period). Persistent Trends: This surge in rents isn’t an anomaly but has persisted for several months, exacerbating concerns. Outpacing Inflation: Rent increases have far outstripped inflation rates, with the 12-month U.S. Consumer Price Index at 3.5% in March, notably lower than Cleveland’s rental spikes. Response Efforts: Efforts such as pandemic rental assistance aim to mitigate the impact, providing relief to low- and moderate-income families. Market Dynamics: Cleveland’s rental market continues to heat up, ranking second in the country for rental growth in the first quarter of 2024, according to CoStar. Despite efforts, until supply meets demand, renters are unlikely to see relief. National Landscape: Nationwide, while rents remain above pre-pandemic levels, a surge in construction is leading to decreases in high-end rental prices in some areas. Local Policy Impact: Cleveland’s historical incentives for development, like tax abatements, have complex consequences, impacting revenue for entities such as the Cleveland Metropolitan School District. These developments underscore the urgent need for a multi-faceted approach to address the rent spiralling in Greater Cleveland, balancing market dynamics with the needs of its residents. Cleveland’s rent surge is a clear signal that now is the time for landlords to capitalize on the market’s potential. With high rents expected to persist in the foreseeable future, investing in rental properties in Greater Cleveland promises to be a smart and profitable venture for those who are ready to take advantage of the opportunity. If you would like to see our latest Cleveland properties please email. invest@globalinvestmentsincorporated.com

Cleveland Clinic Global Peak Performance Center: A Visionary Collaboration by the Cleveland Cavaliers, Cleveland Clinic, and Bedrock Real Estate

In a groundbreaking collaboration, the Cleveland Cavaliers, Cleveland Clinic, and Bedrock Real Estate have unveiled plans for the Cleveland Clinic Global Peak Performance Center, set to redefine athlete training, community wellness, and urban development in downtown Cleveland. The center, spanning over 210,000 square feet and designed by renowned architectural firm Populous, represents a paradigm shift in the intersection of sports, medicine, and urban planning. Positioned along the picturesque Cuyahoga River, the facility will not only serve as the Cavaliers’ elite performance training hub but also cater to athletes from around the world and offer comprehensive care to the local community. At the heart of this visionary project is a commitment to enhancing athletes’ overall performance and well-being. Equipped with state-of-the-art training equipment, cutting-edge medical facilities, and staffed by experts in orthopedic surgery, sports medicine, cardiology, and more, the center aims to extend athletes’ careers and maximize their potential. Moreover, leveraging advanced technologies such as artificial intelligence and big data analytics, the center will provide novel insights into human performance, benefiting not only athletes but also medical patients, first responders, and the military. Beyond its athletic prowess, the Cleveland Clinic Global Peak Performance Center is a catalyst for urban revitalization. As the inaugural vertical development of Bedrock’s Cuyahoga Riverfront Master Plan—a $3.5 billion endeavor—the center embodies a commitment to accessibility and sustainability. Its strategic location fosters connectivity, with plans for public amenities like a kayak launch point, revitalizing the riverfront and invigorating downtown Cleveland. Dan Gilbert, Chairman of the Cleveland Cavaliers and Bedrock Real Estate, expressed excitement about the project’s transformative potential, stating, “This project is the first step in creating a more vibrant and growth-oriented neighborhood, transforming the look and feel of downtown.” Gilbert’s sentiments were echoed by Koby Altman, President of Basketball Operations for the Cavaliers, who hailed the center as a “generational game changer” that reinforces the team’s commitment to excellence. For the Cleveland Clinic, this venture represents the latest chapter in a longstanding partnership with the Cavaliers. Dr. Tom Mihaljevic, CEO and President of the Cleveland Clinic, emphasized the center’s broader impact on community health, stating, “The Global Peak Performance Center exemplifies the impact we can have when like-minded organizations come together.” As plans for the Cleveland Clinic Global Peak Performance Center take shape, anticipation builds within the Cleveland community and beyond. With groundbreaking anticipated before the end of 2024, the center stands poised to redefine the future of athlete training, community wellness, and urban development in Cleveland and beyond. If you would like more information on our Cleveland properties please email invest@globalinvestmentsincorporated.com

Bloomberg’s Sustainable Cities Program Selects Cleveland as Beacon of Urban Sustainability

Cleveland, Ohio, joins a select group of 25 cities in the prestigious Bloomberg American Sustainable Cities program, marking a significant step towards fostering climate-friendly and equitable development. This initiative, backed by Bloomberg Philanthropies with a substantial $200 million investment over three years, aims to empower cities like Cleveland to leverage expertise and federal funding in pursuit of transformative urban solutions. The announcement, made by Cleveland Mayor Justin Bibb, heralds a new era of sustainability and resilience for the city. With Akron, Columbus, Cincinnati, Dayton, and Pittsburgh also among the chosen cities, this initiative represents a collective effort to address pressing environmental challenges while promoting inclusive growth. Central to the program’s objectives is the provision of dedicated staff members, funded by Bloomberg, to bolster Cleveland’s capacity in driving progress on climate mitigation and equitable outcomes. These skilled professionals bring expertise in data analysis, project management, and human-centered design, among other fields, equipping the city with the tools necessary to implement impactful initiatives. At the heart of the program lies the goal of helping Cleveland access historic levels of federal funding, made available through initiatives such as the Bipartisan Infrastructure Act and the Inflation Reduction Act. By leveraging these resources effectively, Cleveland aims to mobilize public, private, and philanthropic investments, catalyzing the implementation of high-impact urban climate solutions. Mayor Bibb emphasized the importance of addressing historical disinvestment in minority communities, which has left residents vulnerable to environmental hazards. By deploying climate solutions at the neighborhood level, particularly in communities like the Southeast Side, Cleveland seeks to reduce disparities and improve the health, wealth, and safety of all residents. With over $400 billion in federal funding available to local governments, the Bloomberg American Sustainable Cities program presents a unique opportunity for Cleveland to access critical resources for community development. By collaborating with partners such as PolicyLink, Bloomberg Center for Public Innovation at Johns Hopkins University, and the Natural Resources Defense Council, Cleveland aims to incubate and implement transformative solutions in the buildings and transportation sectors. The selection of Cleveland for this initiative underscores the city’s leadership and ambition in building resilient, equitable communities. Despite historical challenges, Cleveland remains steadfast in its commitment to advancing community prosperity amid the climate crisis. Through initiatives like the Bloomberg American Sustainable Cities program, Cleveland is poised to emerge as a beacon of sustainability, setting an example for cities nationwide. As the city embarks on this transformative journey, it stands ready to leverage the power of collaboration, innovation, and community engagement to create a more sustainable and equitable future for all Clevelanders. If you would like more information on our Cleveland properties please email invest@globalinvestmentsincorporated.com

Cleveland News – Largest Hough development in a century

The largest planned, single development in a century is proposed for Cleveland’s Hough neighbourhood by reutilising the huge site of the closed Martin Luther King Jr. High School, 1651 E. 71st St. On that 11-acre property bounded by Hough and Lexington avenues plus East 71st and 73rd streets, 310 housing units and two divisible commercial spaces are planned as part of a neighbourhood destination. They are intended to serve a variety of residents — ranging from the growing workforce and student population in the University Circle area to those retired and looking for modern, single-level housing. In the centre of the development, a roughly 3-acre community park is envisioned with gardens, farms, a pond, fountain and quarter-mile-long walking path. Proposed by Structures Unlimited LLC of Greenbelt, MD in suburban Washington DC, with offices in Cleveland and West Palm Beach, FL, the developer has built major residential and commercial projects in suburban Maryland but also in Baltimore, Durham, NC and elsewhere. The minority-owned firm also touts its use of a panellised building technology made and marketed by Emmedue M2 Systems of Italy to quickly and affordably build structures. Structures Unlimited proposes to build on the MLK school site 213 apartments in two L-shaped buildings featuring 22,789 square feet of commercial spaces on their ground floors facing Hough Avenue. In the commercial spaces, the developer’s Founder and Managing Member Kareem Abdus-Salaam said he he envisions an organic food market, an incubator for entrepreneurs, and a white-tablecloth restaurant. Around the perimeter of the north half of the site, halved by an extension of Quimby Avenue, 97 townhomes are planned. They will range in size from 635 square feet on one level for seniors to as much as 1,917 square feet for market-rate homes. According to plans submitted to the city by the project’s architect LDA of Cleveland, the market-rate townhomes will be for-sale units and there will be 24 senior homes. There also will be 276 off-street parking spaces and 93 on- street spaces. On its Web site, Structures Unlimited said the MLK school site development will feature “a diverse range of housing options, catering to various income levels, thereby fostering a socially diverse and inclusive community. The residential units will be thoughtfully designed, energy-efficient, and equipped with modern amenities, ensuring that residents enjoy a comfortable and contemporary living experience. By prioritising environmental responsibility and social cohesion, this project will set a new standard for future urban developments, paving the way for healthier and more resilient communities. Also, two years ago, the firm requested city approvals to develop the south side of Hough Avenue at East 85th Street with multiple retail spaces called the Madame CJ Walker Business District, named after an early 20th-century African American businesswoman who was active nationwide. But that proposed project, centred at 8502 Hough, was denied a permit by the city’s Building Department due to several nonconformance zoning issues, according to city records. The application will be resubmitted. That project, proposed on city land bank properties yet to be acquired by Structures Unlimited, will likely benefit from the city adopting a form-based zoning code. The design review committee has on its agenda the Hough Form-Based Code Pilot Area on land north of Chester Avenue between East 55th and East 90th streets. The land on which the MLK school was built was originally the site of University School before it moved to Shaker Heights in 1926. The property was sold to the Cleveland Public Schools which remodelled the building as Thomas A. Edison School for boys. Structures Unlimited’s proposed developments could result in restoration of Hough’s former business district.

Cuyahoga Land Bank to Lead $122 Million Redevelopment in East Cleveland

The city of East Cleveland, Ohio, is on the brink of an exciting transformation, thanks to a significant redevelopment project led by the Cuyahoga Land Bank. With a whopping $122 million investment, this project promises to revitalize East Cleveland, breathe new life into its communities, and provide hope for a brighter future. In this blog post, we’ll explore the details of this redevelopment initiative, its potential impact, and the role of the Cuyahoga Land Bank in driving positive change. Understanding the Cuyahoga Land Bank: To appreciate the significance of this redevelopment project, it’s essential to understand the role of the Cuyahoga Land Bank. Established in 2009, the Cuyahoga Land Bank is a nonprofit organization dedicated to repurposing vacant, abandoned, and tax-foreclosed properties. Their mission is to stabilize neighborhoods and promote economic growth through strategic property acquisitions and revitalization efforts. The $122 Million Investment: The $122 million investment represents a considerable commitment to East Cleveland’s revitalization. It encompasses a range of initiatives, including: Housing Rehabilitation: A significant portion of the funds will be allocated to rehabilitating existing housing stock. This means renovating and restoring vacant and blighted properties, ultimately providing safe and affordable housing options for residents. Commercial and Retail Development: The project aims to attract businesses and retailers to the area, creating job opportunities and increasing economic activity. This could be a game-changer for East Cleveland’s local economy. Green Spaces and Community Amenities: The redevelopment plan includes the creation of green spaces and community amenities. Parks, playgrounds, and recreational facilities will enhance the quality of life for residents. Infrastructure Improvement: Essential infrastructure like roads, water supply, and sewage systems will see much-needed upgrades, ensuring that the community has access to reliable services. Potential Impact on East Cleveland: Economic Revival: The injection of $122 million into East Cleveland’s economy has the potential to catalyze economic revival. The creation of jobs, new business opportunities, and increased property values can help uplift the community. Enhanced Quality of Life: The development of green spaces and community amenities will not only improve aesthetics but also contribute to a better quality of life for East Cleveland residents. Community Pride: As blighted properties are transformed into vibrant spaces, residents are likely to feel a renewed sense of pride in their community. Community Involvement: It’s crucial to note that successful redevelopment projects often involve active community participation. The Cuyahoga Land Bank is likely to collaborate with local organizations, residents, and stakeholders to ensure that the redevelopment aligns with the community’s needs and aspirations. Challenges and Considerations: While this redevelopment initiative holds immense promise, it also faces challenges such as managing the logistics of a project of this scale, ensuring that the benefits are equitably distributed, and maintaining the character and affordability of the neighborhood for existing residents. Conclusion: The Cuyahoga Land Bank’s leadership in this $122 million redevelopment project presents an exciting opportunity for East Cleveland. As the project unfolds, it has the potential to transform the city, create economic opportunities, and improve the overall quality of life for its residents. While challenges may arise, the commitment to revitalizing East Cleveland is a significant step toward a brighter future for the community and a testament to the power of strategic redevelopment efforts.

Cleveland News June 2023

‘Re-Imagine Euclid Ave.’ Study Focuses on Pedestrian Safety, Congestion on University Circle Corridor One of the most congested areas on Cleveland’s East Side could see a major road revamp in the next year, a recent study presented Tuesday foretold. “Re-Imagine Euclid Avenue,” a new transportation plan backed by NOACA and the RTA, suggests that the main artery linking Midtown to Uptown is in need of a restructuring, from dedicated bike lanes to an extension of RTA’s HealthLine further into East Cleveland. The Superior Avenue Midway, a centre lane bike corridor which will connect Public Square with East 55th, will be the city’s first modern cyclist corridor of its kind when its constructed—as planned—in 2025. And Shaker Heights’ $23 million Lee Road Action Plan, which was approved by council in March, will give the street its own road diet, adding a sidewalk-level, two-way cycle track, along with expanding sidewalks, seating and boosting lighting. University One, a recent high rise luxury apartment complex close to Euclid, along with the proposed Infinium on East 117th, Circle Square off Stokes Blvd., and a redesign of the nearby branch of the Cleveland Public Library, will only beckon for the fruits of the re-imagining: to enhance University Circle’s walkability. On and off its roadways. Cleveland City Council approves $10 million for waterfront projects Cleveland City Council just approved $10 million for four projects aiming to improve the city’s waterfront. The four projects — Irishtown Bend, expansion of an East Side fishing pier, Euclid Creek Greenway and the Northcoast Connector project — will receive funding through American Rescue Plan Act dollars. Legislation approving the four projects was approved without any no votes during a City Council meeting. The North Coast Connector project aims to connect downtown Cleveland to the lakefront by creating a land bridge from the downtown mall to the lakefront, improving access to the Rock and Roll Hall of Fame and Cleveland Browns Stadium. The $3 million approved would partially fund engineering of the project, which is estimated to cost between $8 million and $10 million, according to city documents. The city says its $3 million contribution is needed to leverage other investment in the project design. Council also approved $1.5 million for design work to improve and expand the East 55th fishing pier. When seeking public comment on how to improve the lakefront, one recurring theme was the need for an improved fishing area, Cleveland City Councilman Anthony Hairston said. The pier improvement is part of the CHEERS project. CHEERS, which stands for Cleveland Harbor Eastern Embayment Resilience Strategy, is a $300 million project designed to improve lakefront access east of the Burke Lakefront Airport. The project plans to do that by reusing dredge material from the Cuyahoga River to expand parks and improve the shoreline. Council approved spending $1.5 million in ARPA funds to design the project’s early implementation phase, which will include adding four to six acres of parkland, fixing a break wall and improving fishing areas, according to city documents. The Irishtown Bend project aims to stabilise a hillside in Ohio City and transform it into a 17-acre park. Cleveland City Council approved putting $5 million in ARPA funds toward the project, which has an estimated total cost of $95 million. The Euclid Creek Greenway would carve a two-mile trail from Euclid Creen Parkway to the lakefront. The multi-phase project is a “missing link” between the city’s East Side and the lakefront, said Joyce Pan Huang, Cleveland’s director of city planning. Council approved $500,000 toward the project which has a total cost of $800,000. The design and engineering phase is expected to go through 2024, as trail routes are not yet finalised If you would like more information or wish for a call regarding the latest properties Global Investments can offer in this location then please email us today at : invest@globalinvestmentsincorporated.

Cleveland Property News May 2023

Chicago developer turns scrap into luxury living with its first Cleveland apartment building From scrap yard to deluxe living, a Chicago developer believes its first entry into the Cleveland apartment market will offer something unique. The TREO Apartments on the 2400 block of West 25th Street on the edge of the Tremont and Ohio City neighbourhoods is the first Cleveland endeavour for Chicago-based Mavrek Development. The land was the former home to a scrap yard owned by Sass Automotive and Wrecking until Mavrek paid $1.2 million for it in 2021. Construction was completed earlier this month and residents have begun to move in. TREO has 170 apartments on four residential floors with floor plans offering studios, one-bedroom apartments, two-bedrooms apartments, and two baths. There are also junior size one-bedroom units of up to 612 square feet, or 200 square feet less than the other one-bedroom units. Rent ranges from $1,223 to $2,160 a month. Some features include dedicated work areas, motion lights in every closet, in-unit washer and dryers and balconies for all but 10 of the units. Cleveland native Adam Friedberg of Mavrek said he believes the apartment building offers some new things to the Cleveland market. “We did some custom stuff at TREO that we hadn’t seen elsewhere in Cleveland. I think we’ve done a really good job at that and so far the feedback has been really, really positive,” Friedberg said. A rendering of the TREO Apartments ahead of completion of construction on April 1.Mavrek Development : One of the units in the TREO Apartments : Friedberg said that Latch, a full-building operating software and security system, will allow residents to use an app to access their apartments and other amenities. Latch also offers residents a package tracking system that gives them codes to pick up packages in a designated place. Other amenities include a large front courtyard, a sizeable gym, private Zoom-rooms for Zoom meetings on the main floor, a fifth-floor activity room that includes a table beer tap that residents can access with their phones, and a fifth-floor patio with unobstructed views of the downtown Cleveland skyline. There is 2,100 square feet of commercial space on the main floor, which Mavrek hopes will eventually be home to a local coffee shop or another business that would act as an amenity to the building. Space would also be open to the community. No.1 most expensive home sold in Cuyahoga County, April 17-24 was in Shaker Blvd, Hunting Valley. Hunting Valley is an eastern suburb of Cleveland, it is part of the Cleveland metropolitan area. The Village of Hunting Valley was incorporated as a village in 1924. The Village is comprised of eight square miles in the Chagrin River Valley, a suburb in the Greater Cleveland area. Known for its picturesque landscape and land conservation. The most expensive home sold in Cuyahoga County, April 17-24 was 3030 Shaker Blvd. The price was $1,600,000. The house was built in 1954 and has a living area of 4,667 square feet. The price per square foot is $343. The deal was finalised on April 6. Financing lined up for Ohio City high-rise apartment, hotel building Bridgeworks, a mixed-use high-rise planned in Cleveland’s Ohio City neighbourhood, has received approval on bond financing from the Port of Cleveland. Two bond financing resolutions were passed by the Port of Cleveland to aid Mass Design Group, M. Panzica Development, and GramMar in constructing the 15-story building. One resolution authorises the issuance and sale of $80 million in taxable Lease Revenue Bonds. The other resolution authorises the issuance and sale of about $4.1 million taxable Bond Fund TIF Bonds through the Port’s bond fund. Bridgeworks Project Rendering : If you would like more information or wish for a call regarding the latest properties Global Investments can offer in this location then please email us today at : invest@globalinvestmentsincorporated.

Cleveland, The Investors Hotspot

If you’re looking to invest in real estate, you may have heard of the growing market in Cleveland, Ohio. Known for its rich history, diverse culture, and thriving economy, Cleveland has emerged as a hotspot for real estate investment. In this blog, we will explore why Cleveland, Ohio is becoming a top choice for savvy investors looking to capitalise on the opportunities in the real estate market. Affordable Real Estate Market: One of the biggest draws for real estate investors in Cleveland is its affordability. Compared to other major cities in the United States, Cleveland offers relatively low property prices, making it an attractive option for investors looking for affordable entry points. Whether you’re interested in single-family homes, multi-family properties, or commercial properties, Cleveland’s real estate market offers a wide range of options at affordable prices, allowing investors to maximise their return on investment. Strong Cash Flow Potential: Cleveland’s real estate market presents strong cash flow potential, which is a key consideration for real estate investors. With relatively low property prices and a steady demand for rental properties, investors can benefit from positive cash flow through rental income. The city’s diverse economy, which includes healthcare, manufacturing, and technology sectors, provides a stable job market, supporting a consistent demand for rental properties and ensuring a reliable source of rental income. Appreciation Potential: Cleveland’s real estate market has also shown appreciation potential over the years. While property prices may not rise as rapidly as some other markets, Cleveland has experienced steady appreciation, making it a stable and reliable market for long-term investments. As the city undergoes revitalisation efforts and attracts new businesses and residents, property values are expected to continue to rise, providing investors with the potential for equity growth. Economic Growth and Development: Cleveland’s economy is on an upward trajectory, with significant growth and development in recent years. The city has seen a surge in new businesses, particularly in the healthcare and technology sectors, which are driving job creation and economic growth. In addition, Cleveland has seen substantial investments in infrastructure and revitalisation projects, such as the development of the Cleveland waterfront, which has further boosted the city’s economic potential. A growing economy translates into increased demand for real estate, making Cleveland an attractive market for investors. Favourable Investment Climate: Cleveland offers a favourable investment climate for real estate investors. The city has a landlord-friendly legal environment, with reasonable property taxes and landlord-friendly laws that protect the rights of property owners. Additionally, Cleveland has a relatively low cost of living, making it attractive to both residents and businesses alike. These factors contribute to a stable and favourable investment climate that can benefit real estate investors in terms of cash flow, appreciation, and overall return on investment. Diverse Neighbourhoods: Cleveland is known for its diverse neighbourhoods, each with its own unique charm and character. From trendy downtown areas like Ohio City and Tremont to historic suburbs like Shaker Heights and Lakewood, Cleveland offers a variety of neighbourhoods that cater to different demographics and lifestyles. This diversity presents opportunities for investors to find properties in neighbourhoods with high growth potential or those that are already established and offer stable returns. Conclusion : In conclusion, Cleveland, Ohio is becoming an attractive hotspot for real estate investors due to its affordable real estate market, strong cash flow potential, appreciation potential, economic growth and development, favourable investment climate, and diverse neighbourhoods. As with any investment, thorough research and due diligence are essential, and it’s recommended to work with real estate professionals who have a deep understanding of the Cleveland market. With its growing economy, diverse neighbourhoods, and favourable investment climate, Cleveland presents a compelling opportunity for real estate investors looking to capitalise on the potential of the Midwest market. Should you have any questions relating to any of the above or if you would like to have a call with one of our experts, please email the team at : invest@globalinvestmentsincorporated.com