Latest News

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

Detroit turning industrial ruins into revitalised mixed-use spaces

The revitalization of massive Detroit industrial ruins into mixed-use spaces marks a significant chapter in the city’s ongoing transformation. Detroit, historically known as a hub of automotive and industrial manufacturing, faced severe economic decline and urban decay over recent decades. However, efforts to rejuvenate abandoned industrial sites into vibrant community spaces have gained momentum in recent years. Projects like the redevelopment of Michigan Central Station, Packard Plant, and other industrial complexes symbolize Detroit’s resilience and determination to repurpose its past for a brighter future. These initiatives often involve public-private partnerships, community engagement, and innovative design concepts to breathe new life into neglected spaces. The transformation of industrial ruins into mixed-use developments typically includes a blend of residential, commercial, cultural, and recreational elements. These spaces aim to create dynamic neighborhoods that attract residents, businesses, and visitors, fostering economic growth and revitalizing surrounding areas. Such projects not only preserve the architectural heritage of Detroit but also contribute to its cultural identity and economic diversification. By repurposing industrial ruins into vibrant mixed-use spaces, the city can reclaim its status as a center of innovation, creativity, and urban vitality. Moreover, these developments offer opportunities for job creation, affordable housing, and community engagement, contributing to the city’s long-term sustainability and prosperity. The transformation of Detroit’s Fisher Body Plant 21 into a mixed-use residential and commercial complex, named Fisher 21 Lofts, represents a significant step in the city’s redevelopment efforts, particularly on its near east side. Led by a team of African American businessmen under Kappa Construction Corp, this project aims to breathe new life into a dormant industrial site that has been abandoned since 1993. The redevelopment plans for Fisher 21 Lofts include 435 rental apartments, 38,000 square feet of commercial space, and various indoor and outdoor amenities, such as a food hall, café, co-working area, and internal atrium and courtyard. The location of the site, at the intersection of two major freeways, makes it a strategic spot for revitalization efforts. This ambitious project, with a budget of $145 million, showcases the commitment of developers Greg Jackson and Richard Hosey to reimagine and rebuild this historic site. Despite facing challenges in securing financing, including the need to knock on numerous bank doors and navigate various layers of financing, the project has garnered support from both public and private sectors. Detroit Mayor Mike Duggan initially expressed skepticism about the feasibility of saving the structure, but the developers’ track record and substantial investment changed the city’s stance. Crucial gap financing of almost $5 million from the Michigan Economic Development Corporation further facilitated the project’s progress. Furthermore, the developers are committed to diversity and inclusion in the construction process, aiming to involve Black, Hispanic, and female contractors as first-tier contractors, not just subcontractors. This commitment reflects their vision for an inclusive and equitable development process. In addition to Fisher 21 Lofts, another notable project on the far east side of Detroit is the rebuilding of the historic Arthur Murray dance studios into a mixed-use space named The Arthur Murray. This project, led by developer Emery Matthews, aims to preserve the building’s mid-century modern design while revitalizing the surrounding East Warren Avenue business strip. Both Fisher 21 Lofts and The Arthur Murray are among five projects in Detroit announced for grant funding totaling $14.5 million. These investments underscore the city’s commitment to promoting mixed-use developments led by diverse developers in strategic areas, contributing to Detroit’s ongoing revitalization efforts. If you would like information on our Detroit properties please contact us today.

Transforming Detroit’s Historic Neighbourhoods : Millions Invested in Revitalisation Projects

The Detroit Economic Growth Corporation (DEGC) has secured a significant boost for Detroit’s development landscape, with a $14.5 million grant from the Michigan Economic Development Corporation (MEDC) through the Revitalization and Placemaking (RAP) 2.0 program. This funding injection is set to provide essential gap financing for five major mixed-use development initiatives, representing a total investment exceeding $255 million. These transformative projects are strategically positioned across downtown Detroit and vital neighborhood commercial corridors, aiming to invigorate communities and enhance economic opportunities. Today, amidst an atmosphere of celebration, the DEGC, along with Mayor Mike Duggan, Invest Detroit, Midtown Inc., and other city officials, convened at the Jefferson Intermediate School, one of the projects slated to benefit from this funding, underscoring the significance of these investments in driving progress within the city. “The RAP grant activates strategic Detroit developments to advance inclusive growth brick by brick,” remarked Kenyetta Hairston-Bridges, DEGC Chief Operating Officer and Executive Vice President. “This critical funding has the potential to uplift our neighborhoods through impactful housing, jobs, and services that Detroiters deserve.” These five projects, collectively valued at over $255 million, will introduce increased density to key areas through a combination of commercial spaces, market-rate housing, and workforce accommodations. Notably, the majority of these endeavors are spearheaded by African American developers, further emphasizing a commitment to diversity and local engagement in Detroit’s revitalization efforts. With four of the five projects expected to commence construction in the first quarter of 2024 and the Jefferson School already underway and halfway through completion, these grants will serve as vital reimbursement for developers as project phases are completed. The DEGC remains actively involved throughout the construction process, ensuring transparency and accountability to facilitate successful project delivery. The projects recommended for funding through the RAP program encompass a diverse array of initiatives, including: Broadway Lofts: Conversion of three buildings on Broadway Street into a mixed-use property, featuring residential units and ground-floor retail space. Fisher 21 Lofts: Transformation of a 600,000-square-foot building into residential units alongside retail and co-working spaces. The Arthur Murray Building: Conversion of a historically significant structure into residential apartments and ground-floor retail space. Jefferson Intermediate School: Renovation of a school building into a multi-tenant office and innovation/co-working space. The Deco: Revitalization of a long-vacant commercial building into rental apartments and a ground-floor restaurant. These initiatives stand as testament to the collaborative efforts driving Detroit’s resurgence, fostering inclusive growth and revitalization that benefits all residents and stakeholders. If you like more information on our Detroit properties please contact invest@globalinvestmentsincorporated.com

Major Developments Planned for Detroit in 2024 & 2025

Detroit has changed drastically in the last 10 years to become one of the best cosmopolitan cities in the US, the skyline of Detroit, once a symbol of industrial might, is now full of modern innovation and urban revival. In downtown you see new modern glass and steel skyscrapers, designer brand and international fashion houses, award winning restaurants, sleek sleek office complexes. 10 years ago the sidewalks were quiet and people were reluctant to walk the streets, today you’ll see the signs of change. Sidewalks are full of excitement, leading to the newest additions to Detroit’s architectural tapestry. The buzz of conversation about these developments fills local coffee shops and street corners with pride. So you would think they have done enough to revitalise Detroit, you are wrong they haven’t even started, now we look a the huge new developments that are planned for 2024 & 2025 Hudson’s Site Detroit’s Hudson’s site is one of the most anticipated developments of 2024. One of the development’s two buildings was projected to be the tallest structure in Detroit at 800 feet, then at 900 feet with an observation deck, before it was brought down to 684 feet. Although its height will be second to the Renaissance Center’s, this doesn’t impair the elegance of the structure’s glass facade nor negate the availability of 1.5 million square feet of office, retail, hotel, and residential space, which contains 97 luxury condos. Hart Plaza At the center of Hart Plaza’s $9 million renovation — funded by President Joe Biden’s American Rescue Plan Act — is the restoration of the 1981 Horace E. Dodge and Son Memorial Fountain. The plaza’s restoration also includes repairing the amphitheater’s seats. Other technical aspects of the plaza will also be addressed, such as updating the fire alarm systems and replacing plumbing. Gordie Howe International Bridge The construction of what will be the longest cable-stayed bridge span in North America has been going on since 2018, and the end is near. The project was conceived to improve travel efficiency at the Windsor-Detroit Gateway (the Detroit-Windsor Tunnel and the Ambassador Bridge), the busiest commercial land border between the U.S. and Canada Michigan’s First RH Gallery Downtown Birmingham will be home to Michigan’s first full-service RH (formerly known as Restoration Hardware) gallery. The first three levels of the mammoth four-story building will serve as a showroom to display lighting, furniture, and textiles, while a restaurant is planned for the fourth level. Ford’s Michigan Central Station One of the most dramatic rehab jobs in the nation, the formerly abandoned Michigan Central Station off Michigan Avenue in Corktown, will reopen next year as new office, events and community space — and possibly later add a hotel. Joe Louis Arena site apartments, hotel A 25-story glass tower has been built where the old arena stood, and is expected to open in February. Known as The Residences at Water Square, the building contains 496 luxury apartments and went up fast by recent Detroit standards, taking roughly two years from start to finish. Co-Op grocery A new full-service grocery store is coming to 8324 Woodward in the North End. The two-story, 31,000-square-foot Detroit Food Commons building will contain the Detroit People’s Food Co-Op, a cooperatively owned grocery that will be open to the public. The building also will have community spaces and an incubator kitchen for food entrepreneurs. AC Hotel Construction is underway of a new 10-story, 154-room Marriott International AC Hotel. The project includes the restoration of the 120-year-old Bonstelle Theatre — situated next door to the hotel — as future special events space. Both buildings could be finished in September. United Artists Theater building Redevelopment of the 18-story United Artists Theater Building, 150 Bagley St., into a 148-unit, mixed-income residential building called the Residences @ 150 Bagley has been underway since early 2022 and on pace for a possible summer opening. Big New Center development Several segments of a $3 billion collaborative development in Detroit’s New Center area involving Henry Ford Health, the Detroit Pistons organization and Michigan State University are to get underway in 2024. The biggest is a 1.1-million-square-foot expansion to Henry Ford Hospital. It includes a new 21-story hospital tower along West Grand Boulevard and allows for the conversion of all the hospital’s patient rooms — an 877 bed count — into private rooms. Construction could begin in early 2024 for a 2029 completion. District Detroit + UMCI Construction could be in full swing next year on two big separate yet related developments: the $1.5 billion District Detroit and $250 million University of Michigan Center for Innovation, or UMCI. Detroit is turning into an incredible City and we are proud to be part of the journey over the last 12 years, its great to see the City returning to its former glory.

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.

Global Investments Inc launch in Canton Ohio in 2024

Global Investment Inc are very proud to announce the launch of Canton Ohio, not only is Canton a great city in Ohio but we are showcasing and unbelievable new product for our investors. Global Investments have teamed up with one of the largest Developers in Ohio and will delivering fully refurbished single family homes in A + B neighbourhoods. We have been working hard, we have also teamed up with one of largest Mortgage Agencies in the US to be able to provide mortgages for these incredible properties. To qualify for the mortgage you only need to put down a 30% cash deposit if your are an Overseas Investor and only a 20% deposit if you are Domestic Investor, therefore the remaining 70% can be financed over the long term. The 30% down payment will generate you on average a 20% return after paying back your mortgage and other running costs, this figure is even higher if you are a Domestic Buyer. On average your deposit will be under $40,000 including all other fees and administration costs, I think its safe to say this is one of the most exciting products to enter the property market over the last few years. Where else in the US can you buy a fully refurbished three bedroom property in A +B neighbours generating on average $1,300 rent per month and putting down less that $40,000 ? I dont think you will find anywhere else. For those of you who dont know Canton it is a terrific City, Canton is the eight largest city in Ohio and is the largest municipality in the Canton–Massillon metropolitan area, which includes all of Stark and Carroll counties, and is home to 401,574 residents. Canton has an estimated 97% housing occupancy rate. Canton is chiefly notable for being home to the Pro Football Hall of Fame, it’s where the game American Football originated and it also has a bustling economy. One household name we all know “Hoover” started in Canton and its also home to The Timken Company and the Mckinley National Memorial Park. The City of Canton provides its residents with many benefits of big-city living while maintaining its charm as a medium-sized Midwestern town, that’s why investors are finding it so attractive, the cost of real estate is less than half the national average and demand for rentals is very high. Canton, OH is seen as a seller’s market in November 2023, which means that there are more people looking to buy than there are homes available, that is why we think this is one of the best products you can buy, from the minute you buy the property demand is outstripping supply. In November 2023, the median listing home price in Canton, OH was $149.9K, trending up 7.1% year-over-year. The median listing home price per square foot was $103. The median home sold price was $167K. We have managed to secure the majority of our properties for under $100,000 which means you also see instant equity from the minute you buy the property. I know its a lot to take in but lets summarise, our new Canton properties come fully refurbished, generate on average $1,300 per month, are under market value, are in A + B neighbourhoods and you only have to put less than $40,000 down, Wow. I hope you are as excited as we are, this product is exclusive to Global investments and launches in January 2024, this month we will be offering a few pre-launch properties for some of our regular investors. Please register today for our launch in 2024 today as there will be limited availability and properties will be reserved on a first come first served basis.

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.

Detroit news July 2023

10 years after Detroit bankruptcy properties are seeing development again The Residence at Water Square A new skyscraper apartment building, renovated parking garages and a more walkable riverfront space are among the active projects on properties Detroit ceded to creditors in the settlement of the city’s bankruptcy. The city settled more than $1.4 billion in troubled pension debts with New York-based Financial Guaranty Insurance Co. (FGIC) and Bermuda bond insurer Syncora Guarantee Inc. The process resulted in FGIC gaining control of the redevelopment of the former Joe Louis Arena site on prime riverfront real estate, while Syncora also received development rights to riverfront properties and lucrative leases like for the Windsor-Detroit Tunnel. Local developers, however, have since brought the properties under their control. Now that they have, construction has risen, beautification and site preparation are underway and some sites have reopened to the public. The development at the Joe Louis (Arena) site may have taken longer than expected, but is a very beneficial outcome and looks like a positive outcome in the long-term. Joe Louis Arena site The city-funded demolition completed in 2020 of Joe Louis Arena, the home of the NHL’s Detroit Red Wings franchise until July 2017, when the team moved to Little Caesars Arena, is perhaps the most significant change to emerge from Detroit’s bankruptcy land deals. An affiliate of Detroit developer Sterling Group acquired option rights to the property from FGIC in a $14 million deal in 2019, buying the site of the former arena and its nearby parking garage. A hotel originally had been planned for the arena site, though a lawsuit from FGIC against the city in 2018 suggests those plans might have changed based on the city’s preferences as the downtown real estate market shifted. Sterling Group is now completing construction on a 25-story, 496-unit glassy apartment building it calls The Residence at Water Square, which features floor-to-ceiling windows and rooftop lounges that overlook downtown, the Detroit River and Windsor, Ontario. Applications for leasing the studio, one-bedroom and two-bedroom penthouse suites opened last month, with move-ins expected to begin in February, two years after site preparation work began. Danny Samson, Sterling Group’s chief development officer, likened the development to those seen in major real-estate markets like Chicago and New York, saying Detroit is now ready for an apartment complex like this one that can offer a walkable, upscale lifestyle. “It’s indicative of what is happening in the city of Detroit,” Samson said. “We have overcome challenging times and now are onto a brighter future with every opportunity today and for tomorrow.” The site itself has been dubbed Water Square, and there will be a walkable, interactive space around the building in future phases, Samson said, with more details to come. Sterling Group has been in talks with the Detroit Regional Convention Facility Authority board about building a 600- to 800-room hotel that would be connected to Huntington Place. The two entities entered an agreement in January, and property has been deeded to the city for the expansion, Bruce Goldman, the city’s chief assistant corporation counsel, said in an email. The riverfront convention centre sits within a short walking distance of the Residences at Water Square. Residents of the apartment complex won’t have their own parking, though valet service will be available. In early 2021, Grosse Pointe-based Foster Financial Co. purchased the eight-story Joe Louis Parking Garage at 900 W. Jefferson Ave. from Sterling Group to offer parking for tenants of the commercial building it owns at 211 W. Fort St. and for the public. “There is major demand in downtown Detroit, regardless of whether people are working from home,” said Brad Foster, president of Foster Financial. “There is a deficit of parking spaces.” The garage reopened in March 2022 after $10 million in renovations of the first five floors involving concrete work, waterproofing, new lighting and new security measures. Another $14 million in work is expected to be completed in the next year on the top three floors. Developments such as The Residence at Water Square ( just one example ) solidifies the increase and positive future for Detroit. Business, professional services, electronics, software and IT services and of course construction and real estate and financial services are showing great promise in the city. Global Investments are also seeing a growing re-interest in the Detroit buy to let investment market. If you are ready to invest in the Detroit housing market, or wish for a call and more information on the latest properties Global Investments can offer then please email us today at : invest@globalinvestmentsincorporated.

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.

Detroit housing market 2023

Investing in the Detroit housing market has been a source of contention for investors for a long time. When considering whether or not to add properties in the Motor City to your portfolio, keep these three current trends in mind. The city of Detroit is one of the most populous in the Midwest. It also serves as the county seat for Wayne County. When it comes to residential in Detroit, home prices are exceptionally low. Detroit is the most affordable city. The rentals can generate extremely high returns on investment. Since the purchase price of a Detroit single-family home is significantly less, it presents a fantastic opportunity with significant returns and cash flow. It is also the fastest-growing city in the metro for rent. The Detroit housing market has seen a lot of fluctuations in the past few years. The city has been slowly but steadily recovering from the Great Recession, which hit the area particularly hard. In this blog post, we will take a look at the current state of the Detroit housing market, based on the most recent data available. We will analyse key metrics such as home prices, days on the market, and buyer/seller competition to provide insights into what to expect in 2023. Median Sale Price Data by Redfin show that the median sale price for all home types in Detroit in January 2023 was $76K, up 1.1% compared to the previous year. This modest increase is a positive sign for the city’s housing market, indicating that demand for homes is stable. Overall, Detroit’s housing market seems to be recovering but it is still far from pre-recession levels. Buyer/Seller Competition The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive. Based on this metric, Detroit’s housing market is somewhat competitive, with a score of 63. This means that while homes in Detroit receive 3 offers on average, some homes still get multiple offers, making the market somewhat competitive. Detroit, MI Housing Market The following housing market trends are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded. Detroit, Michigan has had its fair share of ups and downs, but when it comes to the housing market, things are definitely looking up. According to the latest report, the median listing home price in Detroit was $79.5K in February 2023, up 6% year-over-year. In addition, the median listing home price per square foot was $69. While the median home price may seem low compared to other major cities in the United States, it’s important to remember that Detroit is still in the midst of a renaissance. With companies like Amazon and Google setting up shop in the city, and a growing tech industry, it’s no surprise that housing prices are on the rise. Despite the increase in prices, Detroit has still considered a buyer’s market as the supply of homes is greater than the demand for homes. With 180 neighbourhoods in Detroit, there’s a wide range of options available for buyers. While Detroit may be a buyer’s market, that doesn’t mean that sellers won’t be able to sell their homes for a fair price. With housing prices on the rise, sellers may be able to get more for their home than they would have a few years ago. Location matters. As with any housing market, location matters in Detroit. Those looking for a high-end home in a prestigious neighbourhood should expect to pay more, while those looking for an affordable option may need to look in less expensive neighbourhood’s. The rental market is also on the rise. With the influx of new businesses and industries in Detroit, the rental market is also experiencing growth. This could be a great opportunity for investors looking to purchase rental properties. Overall, the Detroit housing market is showing promising signs of growth. Whether you’re a buyer, seller, or investor, there are opportunities to be found in this city. With the right research and guidance, anyone can navigate the Detroit housing market successfully. According to Neigborhoodscout, over the last decade, Detroit real estate has appreciated 89.70 percent, which equates to an average annual appreciation rate of 6.61 percent, placing Detroit in the top 30% of all cities for real estate appreciation. In the last twelve months, Detroit’s appreciation rates have remained among the highest in the country, at 20.95 percent. Short-term real estate investors have found success in Detroit over the last twelve months. Detroit’s appreciation rates were 0.87 percent in the most recent quarter, equating to a 3.53 percent annual appreciation rate. Detroit Real Estate Investment Overview Detroit, Michigan is a city with a rich history, known for its role in the automobile industry and its contributions to music, art, and culture. In recent years, Detroit’s real estate market has been on the upswing, making it an attractive destination for real estate investors looking for long-term returns. Investing in the Detroit rental market offers several advantages for long-term investors. One advantage is the potential for long-term appreciation in property values. As the city continues to grow and improve, property values are expected to increase, leading to a significant return on investment for those who invest in rental properties now. Another advantage of investing in the Detroit rental market is the relatively low cost of entry compared to other markets. With lower prices for rental properties, investors can purchase properties at a lower cost, increasing their potential return on investment. Additionally, the high demand for rental properties in Detroit offers the potential for a consistent stream of rental income. As more people move to the city and job opportunities continue to grow, the demand for rental properties is likely to increase, providing a steady source of income for investors. Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional continues to be a