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Cleveland: Random Development and Construction

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I may completely wrong and @KJP would have to confirm one way or another, but I think this speculation on this mega projection has gone in the wrong direction.  It has been a while since KJP's post (and I cannot even recall what thread) but I think KJP was referencing a possible "real estate project or development" and not a particular company.  When he said bigger than Progressive I think he meant the potential development will/would be bigger than the proposed Progressive Building project from the early nineties, not that a company bigger than Progressive is moving to town.  Again I could be wrong but that is my memory of the exchange.

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I am also wondering if this mystery MEGA PROJECT (company or development) that @KJP mentioned in Cleveland's future is this latest acquisition by Cleveland Cliffs?

 

I was under the impression (initially) that perhaps a corporation that is larger than the behemoth Progressive Casualty Insurance Co. was planning on building an enormous presence in our city ... In the form of a brand new headquarters or just by moving here.

 

@KJP, please spill the beans ... Was the mysterious MEGA COMPANY / PROJECT coming to town this latest acquisition by Cleveland Cliffs??

 

Inquiring forum member's are dying to know ...

 

😄😉😁😯😯😯😯😳😳😳🤔🤔🤔🤔🤔

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Any idea why they'd be shoring up this building? Are there any hopes for development or is it just to protect pedestrians? Not sure if it has a name, it's across from Sumner Ave. (22145 E. 14th, after looking into it, it's a Frangos Group property).

 

 

 

Edited by GISguy
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35 minutes ago, John D. Baumgardner said:

I am also wondering if this mystery MEGA PROJECT (company or development) that @KJP mentioned in Cleveland's future is this latest acquisition by Cleveland Cliffs?

 

I was under the impression (initially) that perhaps a corporation that is larger than the behemoth Progressive Casualty Insurance Co. was planning on building an enormous presence in our city ... In the form of a brand new headquarters or just by moving here.

 

@KJP, please spill the beans ... Was the mysterious MEGA COMPANY / PROJECT coming to town this latest acquisition by Cleveland Cliffs??

 

Inquiring forum member's are dying to know ...

 

😄😉😁😯😯😯😯😳😳😳🤔🤔🤔🤔🤔

He already responded to that question on tues 12/7 in the cleve: general Business & economic news thread

AND the answer to that question was   -   NO

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2 hours ago, GISguy said:

Any idea why they'd be shoring up this building? Are there any hopes for development or is it just to protect pedestrians? Not sure if it has a name, it's across from Sumner Ave. (22145 E. 14th, after looking into it, it's a Frangos Group property).

IMG_20191205_130003915_HDR.jpg

 

IMG_20191205_130016843_HDR.jpg

 

I live close by and can tell you that over the last month or so the front shutter has been open frequently and there’s been comings and goings that led me to think it was being emptied out for some reason. Hopefully, all this points to something positive going on...

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And they reckon that the last thing she saw in her life was
Sting, singing on the roof of the Barbican

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If the mega project is the same possible project coming to Fairfax I'm starting to hear about, @NR you are unfortunately not onto something.

Edited by tykaps
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43 minutes ago, tykaps said:

If the mega project is the same possible project coming to Fairfax I'm starting to hear about, @NR you are unfortunately not onto something.

 

Now someone is getting very warm...

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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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46 minutes ago, tykaps said:

If the mega project is the same possible project coming to Fairfax I'm starting to hear about, @NR you are unfortunately not onto something.

Whats coming to Fairfax??

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If I recall some time ago, IBM or Microsoft one or the two decided Cleveland was a growing market. Opening up that amount of land and street front would be perfect for branching fortune 500's.

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If you open up brand-new "developable" property basically in the center of the City, i.e. Fairfax, you're completely molding the entire area the way your business would want for a brand new neighborhood. They're always watching urban real estate markets. My money is on either Microsoft or IBM as I mentioned above. If the Justice Center is moving there, there's still alot of room for some bigwigs. Fairfax will be the new Millionaire's Row. If we have anything to add about it please speak in the Fairfax thread.

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30 minutes ago, skiwest said:

I thought KJP said it wasn't tech?

 

If I did, it wasn't intentional. 

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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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On 11/13/2019 at 11:39 AM, KJP said:

Can't say anymore. I'm sure the facts will come out in a fair amount of time. 

 

On 11/13/2019 at 1:38 PM, KJP said:

It's not Fairmount. You're not going to guess what it is. I wrote it in such a way so that if/when it is announced, it will indicate whether I was told the correct location of where it might be developed. But what "it" is -- you're just not going to get it because it's never been discussed on this forum before.

 

4 hours ago, tykaps said:

If the mega project is the same possible project coming to Fairfax I'm starting to hear about, @NR you are unfortunately not onto something.

 

4 hours ago, KJP said:

 

Now someone is getting very warm...

 

Something makes me think there's a fairly good chance we can say it is Fairfax 😉

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3 hours ago, tastybunns said:

If you open up brand-new "developable" property basically in the center of the City, i.e. Fairfax, you're completely molding the entire area the way your business would want for a brand new neighborhood. They're always watching urban real estate markets. My money is on either Microsoft or IBM as I mentioned above. If the Justice Center is moving there, there's still alot of room for some bigwigs. Fairfax will be the new Millionaire's Row. If we have anything to add about it please speak in the Fairfax thread.

 

Looking back on @KJP's articles on Fairfax over the last year, I looked for any offhand "speculation" that perhaps is more informed than meets the eye.

My initial thought when I heard IBM was Explorys:

 

From "Leveraging the Boomtown": http://neo-trans.blogspot.com/2018/08/leveraging-boomtown.html

 

Quote

First to locate in the New Economy Neighborhood was the headquarters building for Explorys, a Cleveland company acquired by IBM. Its new headquarters is located on East 105th at Cedar Avenue. Additional developments and new housing are planned farther south toward the expanded RTA rail station.

 

I have no clue whether there is more growth or plans than their current presence here.

 

In his "Seeking opportunity in the Opportunity Corridor" article: http://neo-trans.blogspot.com/2019/06/seeking-opportunity-in-opportunity.html

 

Quote

So will the Opportunity Corridor be lined with gas stations and convenience stores? Or with biomedical labs and advanced manufacturing? Or with scrap processors and aggregates dealers? Or with light-industrial/warehousing? Or with townhouses surrounding apartment towers over retail near the Red Line stations?

 

Biomedical labs and advanced manufacturing could be just as much a throwaway nod to Cleveland's medical device and technology background as much as it could be perhaps an "informed hunch" 😉.

 

I spent some time looking at majority property owners in Fairfax to look for consolidated ownership of adjacent parcels, recent transfers, etc. Most are tied to known projects. There is a lot of city owned land spread across tons of slight variations of owner names. Ken has a "cropped (E105th & Quincy)" look at these ownership trends in the Fairfax thread, where this conversation might need to continue.

 

In case anyone is inclined to do some sleuthing outside of the limits of Cuyahoga Myplace...you may find this resource helpful: https://landgrid.com/us/oh/cuyahoga/cleveland/fairfax#b=none

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Unfortunately, I've posed no hints about it in any of my blog articles. And I hadn't heard of this remote possibility of a megaproject when I wrote the "Leveraging The Boomtown" article. Yes, it's a remote possibility. So please don't get worked up over it. If it it happens, it happens. If it doesn't, life goes on.

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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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On 11/16/2019 at 2:51 PM, X said:
On 11/16/2019 at 7:09 AM, KJP said:

We're also home to research facilities for just about every medical imaging device firm. Toshiba was one of the big ones and its imaging biz was recently bought by Canon which wants to greatly expand its medical imaging business.

 

Since this was mysteriously deflected and I don't see it already posted:

Majority stake of Quality Electrodynamics is sold to Canon Inc.

by Scott Suttell

November 01, 2019 09:17 AM

 

Quality Electrodynamics LLC, a Mayfield Village company that makes coils that go inside magnetic resonance imaging (MRI) machines, announced it has sold a 70% stake in the company to Tokyo-based tech giant Canon Inc.

 

Specific financial terms of the deal were not disclosed. Quality Electrodynamics, which is known as QED, will become a subsidiary of Canon but will retain its name, independent identity and local headquarters, the company said in a news release issued late Thursday, Oct. 31.

 

https://www.crainscleveland.com/technology/majority-stake-quality-electrodynamics-sold-canon-inc

 

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The discussion should be about development news, not speculation on any business in the world that may or may not come to Cleveland, or CLE routes.  Shall we get back to that, please?

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1 hour ago, B767PILOT said:

I know i beat this topic to death but it is truly the most advantageous way to get a european route.  United does feed some traffic, albeit small, through Cleveland. A codeshare with LH would work I think to FRA or MUC. But it cant be an ad hoc aporoach. I mean IF it is that important of a destination to have, then the region as a whole must embrace it and support it.  Especially the business community.  Am A330 4 or 5 times a week could really work. But again, itll have to be subsidised in the beginning with a clear business plan to develop abd make the route self supporting when the subsidies end. 


Which brings us full circle back to development news—because this is all predicated on a company from Munich—Siemens—planting a development flag in Cleveland. 
 

Now for KJP to confirm it so the moderators don’t lock this thread down. 🙂

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Trying something new. Thanks so much to @tykaps for posting the heads-up on these!

 

2804+South+Moreland1.jpg

 

TUESDAY, DECEMBER 10, 2019

Son of Seeds & Sprouts - Part I

 

These news tidbits are too small for Seeds & Sprouts but are nonetheless important. They include the last two weeks of items that appeared in public records such as building permits, planning commission filings, real estate listings and similar but brief references showing definitive movement in Cleveland-area real estate. They are listed by Cleveland neighborhood (per city-defined planning jurisdiction) and suburbs. Sometimes there's just too much going on to report it any other way! Thanks to Tykaps/UrbanOhio for providing insights on these tidbits.

 

https://neo-trans.blogspot.com/2019/12/son-of-seeds-sprouts-part-i.html

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22 minutes ago, Dougal said:

Sorry to say, this report would seem to indicate that Cleveland's suggested site is not on the front burner at City Club.

 

https://www.rejournals.com/commercial-real-estate-hall-of-fame-city-club-apartments-holtzman-20191210

 

It does? The only cities listed in the article were the ones that are currently under construction. No clues of future plans were mentioned for any city.

Edited by Clefan98
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4 minutes ago, Clefan98 said:

 

It does? The only cities listed in the article were the ones that are currently under construction. No clues of future plans were mentioned for any city.

 

Ok, that's a fair reading; I guess I'm being impatient. He DID talk about more growth.

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"Holtzman’s plan? His goal is to start three new multifamily communities every year".

 

This is the only phrase where he discusses growth. Could actually be good for Cleveland if they're talking about adding three new communities per year.

Edited by Clefan98
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It looks like all of the new development has led to a 16% YOY increase in rents; the highest YOY rent increase in the nation.  Cleveland average rent for a 1 BDR remains below $1000/mo, but is the highest in Ohio.

https://www.zumper.com/blog/2019/12/zumper-national-rent-report-december-2019/?fbclid=IwAR2zrpS6tr3FKuhby5QQTwHfMU3c_lNnvWxTVgTvY6_zmMscsfb-a9-VdqQ

Edited by Frmr CLEder
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2 hours ago, Frmr CLEder said:

It looks like all of the new development has led to a 16% YOY increase in rents; the highest YOY rent increase in the nation.  Cleveland average rent for a 1 BDR remains below $1000/mo, but is the highest in Ohio.

https://www.zumper.com/blog/2019/12/zumper-national-rent-report-december-2019/?fbclid=IwAR2zrpS6tr3FKuhby5QQTwHfMU3c_lNnvWxTVgTvY6_zmMscsfb-a9-VdqQ

Great find Frmr CLEder!

 

From the report:

Notable Changes This Past Year

 

Upward Cities with the largest year over year growth rates:

 

Cleveland, OH had the fastest growing rent since this time last year, up 16%. This growth rate moved the city up from #74 in our December 2018 Rent Report to #57 in this December 2019 Rent Report, catapulting up 17 spots.

Edited by Larry1962
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^ Maybe they all have the same franchise owner that has hit trouble. The company overall get blowback about the founders penchant for big game hunting, but overall I believe it’s pretty healthy. 

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And they reckon that the last thing she saw in her life was
Sting, singing on the roof of the Barbican

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10 minutes ago, roman totale XVII said:

^ Maybe they all have the same franchise owner that has hit trouble. The company overall get blowback about the founders penchant for big game hunting, but overall I believe it’s pretty healthy. 

They were bought by the parent company of Arby’s and BW3 in October. Maybe they’re going a different route. A quick google search has articles of the same thing happening in some other cites. 

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1 hour ago, Clevecane said:

Anyone know what’s going on with the Jimmy Johns both at CSU and Public Square closing?

 

1 hour ago, Clefan98 said:

^ They closed in Steelyards too.

Same with the one at cedar center. Seems uptown location is still open though

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Im adding up housing units (renovation or new) from permits filed in the calendar year 2019 for different zip codes. Probably off by a few units because I'm just doing this by myself with public access permits. Just did 44113 and it doesn't really fit in any development area/thread so here we go random.

44106 was 501 units for an increase of ~5.26% with some uncertainty due to how many homes are CLE heights vs CLE.

44113 was 1,539 units or an increase of 14.69% in homes. All that in 1 calendar year.

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1 hour ago, tykaps said:

Im adding up housing units (renovation or new) from permits filed in the calendar year 2019 for different zip codes. Probably off by a few units because I'm just doing this by myself with public access permits. Just did 44113 and it doesn't really fit in any development area/thread so here we go random.

44106 was 501 units for an increase of ~5.26% with some uncertainty due to how many homes are CLE heights vs CLE.

44113 was 1,539 units or an increase of 14.69% in homes. All that in 1 calendar year.

That's Awesome!!!   Plus, the 44113 area doesn't include most of the new development down Detroit to the West and Euclid to the East, those have to be huge numbers as well.

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