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Cuyahoga County is set to undergo a significant transformation as the Cuyahoga Land Bank secures $23 million in state funding to clean up and redevelop long-neglected brownfield sites. These areas, once hubs of industrial activity, have lain dormant for decades, posing environmental hazards and stalling economic growth. With this infusion of funds, Cleveland’s landscape is poised for a revival that will bring new housing, jobs, and public spaces to the community. A Legacy of Industrial Use   The sites earmarked for cleanup have deep historical roots, with some dating back nearly two centuries when Cleveland was a booming industrial center. The land on the Tower City Center side of the Cuyahoga River, now planned for Bedrock’s Riverfront Development, has been used for various industrial purposes, including paint and varnish production, oil works, and scrap iron yards. The result is a landscape riddled with contamination from hazardous materials like arsenic and lead, which must be addressed before any new construction can begin. The Cuyahoga Land Bank, officially known as the Cuyahoga County Land Reutilization Corp., has been a pivotal player in securing multiple funding awards from the Ohio Department of Development’s Brownfield Remediation Program. This program is designed to help communities reclaim hazardous properties and prepare them for new development. The Land Bank has already been active in demolishing over 1,100 blighted structures, primarily abandoned single-family homes in Cleveland and East Cleveland. However, the latest awards focus on larger, more complex industrial sites that require expert remediation. Key Projects Underway   One of the most prominent projects benefiting from this funding is the Bedrock Riverfront Development. With a $10 million grant, this downtown Cleveland project will involve the remediation of three parcels along the riverfront. These properties, currently used as surface parking lots, are contaminated with industrial pollutants. The cleanup will include removing contaminated soil, demolishing existing structures, and replacing the soil with clean fill. Bedrock Real Estate plans to transform the area into a vibrant mixed-use district featuring public recreation spaces, offices, retail outlets, and parking facilities. The redevelopment is expected to generate long-term economic and recreational benefits for the Cleveland community. Another significant project is the former National Acme site, located at the intersection of Cleveland’s Glenville and Collinwood neighborhoods. This historical machine-tool manufacturing facility has become a public nuisance due to illegal waste disposal and unauthorized demolition. With a $7.6 million award, the site will undergo extensive cleanup, including asbestos removal, waste disposal, and the demolition of remaining structures. The goal is to clear the way for new developments that can breathe life back into the surrounding neighborhoods. In Middleburg Heights, the former Sears Southland Shopping Center is also slated for redevelopment, thanks to a $5.6 million grant. This project involves cleaning up two vacant structures, including a large former department store and an automotive shop. The site will be transformed into a mixed-use development with 375 multifamily rental units, retail space, and public park areas. This redevelopment aligns with the Middleburg Heights Community Master Plan and is expected to create 400 new jobs and retain 270 existing positions. A Broader Impact on the Community   The impact of these projects extends far beyond the individual sites. The Land Bank’s efforts are part of a larger strategy to stabilize and revitalize neighborhoods across Cuyahoga County. As Land Bank President and General Counsel Gus Frangos noted, “This award will have a meaningful impact on the individual cities where we demolish blighted properties and on Cuyahoga County as a whole. We are grateful for the continual support from the State of Ohio, Governor DeWine, and the Department of Development. They have been critical partners in our work and the progress land banking has made across our county.” Demolition is a critical tool in the Land Bank’s strategy. Removing blighted properties not only improves the physical appearance of neighborhoods but also helps to restore community pride and increase property values. In East Cleveland, for example, the long-abandoned Huron Place apartment tower has been a magnet for criminal activity since the nearby Cleveland Clinic Huron Hospital closed in 2011. The Land Bank’s plans to demolish this 13-story eyesore are expected to have a transformative effect on the surrounding area, paving the way for new investment and development. Looking Ahead The cleanup and redevelopment of these brownfield sites represent a significant investment in Cleveland’s future. By turning contaminated, underutilized land into thriving communities, the Cuyahoga Land Bank and its partners are helping to reshape the city’s landscape and create opportunities for economic growth. As these projects move forward, residents can look forward to a revitalized Cleveland that honors its industrial past while embracing a more sustainable and prosperous future.

In a significant development for Cleveland’s urban landscape, the state of Ohio has earmarked $20 million for the North Coast Connector project. This funding is part of a comprehensive,  $3.5 billion capital budget signed by Governor Mike DeWine last month. The budget aims to enhance infrastructure, education, and cultural projects across Ohio’s counties. The Significance of the Funding This substantial state contribution is set to catalyze the North Coast Connector project, which has a projected budget of $230 million. The project’s goal is to directly link the Cleveland Convention Center to the lakefront, enhancing accessibility and connectivity in the downtown area. Mayor Justin Bibb highlighted the transformative potential of this initiative, stating, “The North Coast Connector is a game-changer for Cleveland and will have a lasting impact on our city’s economic growth and development.” Broader Impact on Cuyahoga County The capital budget is set to inject over $175 million into projects in and around Cuyahoga County. This investment spans a variety of sectors and aims to stimulate economic growth, improve infrastructure, and enhance cultural facilities. Key Projects Funded in Cuyahoga County: The Bedrock Riverfront Plan: $10 million This project supports Dan Gilbert’s $3.5 billion vision, which includes the Cavs’ Global Peak Performance Center, expected to open before the 2026-27 season. Rock and Roll Hall of Fame Expansion: $7 million The expansion will add 6,000 square feet for administrative offices, a state-of-the-art education center, and a concert venue with a capacity of nearly 3,000 people. Port of Cleveland Bulk Terminal Modernization: $5 million This project will upgrade the terminal to enhance its operational capabilities. West Side Market: $2.4 million The funds will be used to preserve and improve this historic marketplace. Cleveland Metroparks Zoo’s New Primate Forest: $2 million This will create a modern, enriched habitat for the zoo’s primate inhabitants. Irishtown Bend: $2 million The ongoing redevelopment efforts of this area will receive a financial boost. Blue Abyss Astronaut Training Facility in Brook Park: $1.8 million This facility will serve as a cutting-edge training center for astronauts. The North Coast Connector:   The North Coast Connector stands out as a pivotal project within this budget. Its objective is to create a seamless connection between the Cleveland Convention Center and the lakefront, transforming how residents and visitors interact with the city. By improving access to lakefront amenities, the project aims to boost local tourism, enhance property values, and foster economic development in downtown Cleveland. What They’re Saying Local leaders and stakeholders are optimistic about the potential impact of the North Coast Connector. Mayor Justin Bibb’s statement underscores the broader vision for Cleveland’s future growth and development, emphasizing the project’s role in driving economic progress. Conclusion   The $20 million state funding for the North Coast Connector is a crucial step towards realizing a more interconnected and vibrant Cleveland. This project, along with the numerous other initiatives funded by the state’s capital budget, highlights a comprehensive approach to urban development, economic stimulation, and cultural enrichment. As these projects unfold, they promise to reshape the city’s landscape, fostering a dynamic and thriving community.

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.

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.

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.

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  

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