LUMEN ABOVE RAILROAD PARK PLUS

What will Playhouse Square Foundation (PHS) in downtown Cleveland do for an encore if early leasing at The Lumen apartment tower on Euclid Avenue at East 17th Street meets or exceeds expectations? The next performance could well be another residential tower for the theater district. The Lumen apartment tower, under construction at EuclidДЄvenue and East 17th Street, soars into Cleveland's May skyДЄs the Playhouse Square Foundation considers its next moveДЇollowing completion next year (Ichabod The Crane/Twitter). To the north of the station, and despite putting the project on hold if not considering selling the property outright, Brickhaus Partners will reportedly pursue development of the mixed-use One West Twenty after all.Д¬learly, the real estate market near the West Side Market and the GCRTA train station is picking up steam. Just east of Market Square, Carnegie Development won a bid from the Greater Cleveland Regional Transit Authority (GCRTA) to develop 1.3 acres of land next to the Ohio City Red Line station and additional space above the tracks south of Abbey Road.

LUMEN ABOVE RAILROAD PARK PLUS

The site is across West 25th from the Market Square development, where Harbor Bay Real Estate Advisors, LLC of Northbrook, IL (same hometown as Bixby Bridge Capital) expects to break ground this year on a 10-story 150,000-square-foot office building, a 7-story 267-unit apartment building (both buildings timber-framed), plus 75,000 square feet of retail and 560-space parking deck. Numerous Cleveland-area projects are moving forward as a result of this new program. The Voss Industries site is located in an Opportunity Zone, making it eligible for a new source of equity from the OZ program. They also provide equity to renovation projects, carried out in partnerships with developers. Plus, there is likely to be ground-floor restaurant/retail uses in the redeveloped factory which dates to 1936, per its deactivated LoopNet listing.Д«ixby Bridge Capital invests primarily in Sun Belt real estate, with some Midwest exceptions, mostly in Chicago. The number of proposed apartments should translate to about 400 residents, or more than the current 267 jobs at Voss IndustriesВ (it had 320 jobs in the early 2010s), which is relocating to a more modern plant in Berea. The 4.2-acre site and its multiple buildings totaling 240,000 square feet were sold May 22 for $4.775 million to a paper company formed by Dп»їavid Rotenberg, a principal of Bixby Bridgп»їe Capitalп»ї,п»ї LLп»їCп»ї in the Chicago suburb of Northbrook, IL, according to Ohio Secretary of State filings. More than 250 apartments are planned in Ohio City's Market District following the purchase of Voss Industries' property, 2168 W. Ohio City: Voss plant to become apartment complex That's the same home city as the companyДeveloping the Market Square mixed-use complex across Ground-floor restaurants/retail following its sale to a Northbrook, Ohio City is due to be redeveloped with housing and likely some Voss Industries' aging, multiple-structure plant on West 25th in Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome. This is the first edition of Seeds & Sprouts - Early intelligence on Cleveland-area real estate projects.

Lumen above railroad park