Development Updates in Cleveland and Medina:
Cleveland city officials, developers, and residents are gearing up for several potential new projects, including a plan to revamp the Cuyahoga riverfront and construct new apartments in Lincoln Heights. In Medina, developers plan to build a new industrial commerce park. If realized, these projects promise to drive multifamily and commercial development in the state.
Cleveland Unveils Riverfront Revamp Master Plan
In partnership with the city of Cleveland and renowned architect David Adjaye, Bedrock unveiled its Cuyahoga Riverfront master plan on December 2nd. This master plan is a 15-20 year vision that will reimagine 35 acres of the riverfront, transforming Tower City Center and prioritizing accessibility, equity, and sustainability in downtown Cleveland. The land is primed for over 3.5 million square feet of brand new development and adaptive reuse projects. It will include adding 2,000 residential units, 850,000 square feet of office space, over 12 acres of public space, and opportunities for future hospitality, retail, and entertainment venues.
Industrial Development in Medina
Atlanta’s Stonemont Financial Group recently acquired 39 acres of land near Medina, Ohio, with plans to build a new industrial commerce park. This project, called Westfield Commerce Park, will bring 450,000 square feet of industrial space to the area and is expected to be completed in early 2023.
Lincoln Heights To Get New Apartments
Geis Cos. plans to build a new, four-story apartment building in Cleveland’s Lincoln Heights neighborhood. The proposal pitches an 85-unit apartment complex at 2485 W. 20th St. near Moltke Court. If developed, the project will join Geis Cos.’ other residential properties in the area, including the Abbey Avenue Townhomes and Lake Avenue Apartments.