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📬 In today’s edition:

• 🏟️ Cleveland’s $100M Stadium Deal & Port Projects Take Shape

• 🏘️ CHN Launches $22M Affordable Housing Plan Across 3 Neighborhoods

• 💡 How Lease-to-Own is Changing Cleveland’s Housing Landscape

📰 Cleveland Market Minute

Chester 82 joins Park Synagogue in Port funding

The Port of Cleveland Board of Directors today approved $50 million in bond financing to support two significant development projects

While the Park Synagogue has been in the news lately, the reemergence of the Chester 82 development after a long period of silence is a bit of a surprise.

 🔗 Read More

Gateway parking lots are closed – forever?

Another parking crater in Downtown Cleveland has succumbed to a new development that promises to attract hundreds of thousands of visitors per year.

The latest to disappear is a windswept, 3-acre parking lot in the Gateway District, across Huron Road from Rocket Arena, home to Cleveland Cavaliers basketball and Cleveland Monster hockey games.

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Haslams to fund $100M lakefront stadium demo, redevelopment

A new, enclosed Huntington Bank Field will be built in Brook Park. And the current home of the Cleveland Browns in Downtown Cleveland will be demolished for lakefront redevelopment for which the owners of the Browns will help finance to the tune of $100 million.

That’s the result of a settlement announced today by both sides that effectively ended an often bitter fight over where the National Football League franchise will play its home games after its current stadium lease ends after the 2028 football season.

🔗 Read More

🏡 Just Sold Spotlight – 1951 Columbus Rd, Cleveland, OH 44113

📍 1951 Columbus Rd, Cleveland, OH 44113

• 💰 Sale Price: $575,000

• 📏 Size: 2,700 sq. ft. | 🛏 3 Beds | 🛁 2.5 Baths | 🏠 4 Levels

• 🏘️ Property Type: Townhouse / Single-Family Residence (Irishtown Bend Community)

• 🌳 Lot Info: 1,960 sq. ft. urban parcel | Rooftop & river views

• 🛠️ Year Built: 2006

• 🚗 Garage: Attached 2-car garage (direct access, paved drive)

• 📝 Investor Takeaway

This stylish multi-level townhouse in the heart of Cleveland’s vibrant Irishtown Bend sold for $575,000, offering a rare combination of scenic views, modern design, and premier location. Built in 2006, the 2,700 sq. ft. home is ideal for professionals seeking both city energy and park-side tranquility.

The second-floor layout highlights a chef’s kitchen with stainless steel appliances, granite counters, and a large island flowing into a bright dining area and living room with gas fireplace and balcony access. Upstairs, the primary suite features hardwood floors, skylights, a private deck, and a spa-inspired ensuite with soaking tub and glass shower.

A fourth-level bonus room with wet bar opens to a rooftop deck complete with outdoor fireplace and panoramic Cuyahoga River views, while the lower level provides additional flex space for media or fitness use. Smart features include built-in speakers, surround sound, and a modern security system — all within walking distance to Merwin’s Wharf, Metroparks trails, and the upcoming Irishtown Bend Park (opening 2027).

🏡 Neighborhood Insight

• 📍 Nearby Cross Streets: Columbus Rd & University Rd

• 🏫 School District: Cleveland Municipal

• 🧾 Assessed Taxes: ~$6,972 annually (approx. 2025)

• 🚶 Accessibility: Near Tremont & Flats dining, Metroparks access, and downtown Cleveland

📈 Recent Sales Nearby:

• 627 University Rd – $600,000 | 3 Bed | 3 Bath | 2,200 sq. ft.

• 2165 W 6th St – $655,000 | 3 Bed | 4 Bath | 3,100 sq. ft.

• 2050 W 11th Pl – $585,000 | 3 Bed | 3 Bath | 1,900 sq. ft.

• 2444 W 7th St – $501,500 | 3 Bed | 3 Bath | 1,700 sq. ft.

• 2250 City View Dr – $485,000 | 3 Bed | 2 Bath | 2,000 sq. ft.

📌 Notable Features

• 🏙️ Rooftop deck with fireplace, wet bar & panoramic river views

• 🔥 Dual fireplaces (living room + rooftop)

• 🍳 Chef’s kitchen with granite counters & stainless appliances

• 🎵 Built-in speaker system & great room surround sound

• 🪟 Skylit primary suite with private deck & whirlpool bath

• 🌿 Private patio off dining room with green space

• 🔒 Smart security system with modern HVAC

• 🚶 Steps to Metroparks, restaurants, and the future Irishtown Bend Park

💡 Insider’s Insight

🏘️ Cleveland Non-Profit Expands Affordable Housing Across Key Neighborhoods

CHN Housing Partners has officially broken ground on Parkside East, a major $22.2 million affordable housing project spanning Buckeye-Shaker, Glenville, and Hough.

The new development will deliver 55 family homes, with move-ins expected by 2026, and applications opening late 2025.

Supply vs. Demand

CHN reports a 98% occupancy rate across its portfolio — proof that affordable housing remains one of Cleveland’s most undersupplied markets.

With limited turnover and strong lease stability, projects like Parkside East fill a critical housing gap, especially for working families priced out of ownership.

Neighborhood Revitalization

Buckeye-Shaker, Glenville, and Hough are seeing gradual transformation through non-profit–driven investments.

These areas benefit from strategic infill housing, complementing city efforts to stabilize property values and modernize housing stock without displacing residents.

Lease-to-Own Innovation

CHN’s lease purchase program lets residents earn up to $1,000 per year for 10 years toward a future down payment — creating a real pathway from renting to ownership.

This hybrid model blends affordability, equity-building, and tenant retention, serving as a blueprint for sustainable urban housing.

🏡 House of the Week – Lake Erie Tudor Estate with Private Beach

📍 17820 Lake Road, Lakewood, OH 44107

• 💰 Price: $3,895,000

• 📏 Size: 7,000 sq. ft. + 1,947 sq. ft. finished lower level

• 📅 Year Built: 1921

• 🛏 6 Beds | 🛁 4 Full, 1 Half Baths

• 🚗 2-Car Attached Garage

• 🌳 Lot Size: 0.93 Acre | HOA: $226/month

• 🏫 School District: Lakewood City School District

🧘 Vibes: Set high on a bluff in the prestigious Clifton Park neighborhood, this timeless Tudor offers sweeping Lake Erie views and classic 1920s craftsmanship. Broad porches, sun-filled rooms, and period millwork create warmth and character throughout.

Inside, the home features formal living and dining rooms—each with fireplaces—a cozy wood-paneled den, and a gourmet kitchen with a large center island, pro-grade appliances, double ovens, and dual dishwashers. The breakfast nook and sunroom open onto a covered porch with retractable screens overlooking manicured gardens and the lake.

Upstairs, the primary suite boasts a fireplace, sitting area, walk-in closet, spa bath, and a private balcony with unobstructed lake views. Additional bedrooms, a guest suite, and a flexible third-floor rec space make it ideal for family living or entertaining.

“This is a rare opportunity to own a true lakefront landmark,” says listing agent Kim Crane. “With nearly an acre of land, a private beach, and exclusive community amenities, it’s one of Lakewood’s most coveted properties.”

👉 Listed by: Kim Crane – The Kim Crane Group, Howard Hanna Real Estate Services

📞 440-652-3002 | ✉️ [email protected]

🛠 Tools & Resources We Recommend

• PropStream → Lead generation + property comps

• AirDNA → Short-term rental profitability data

• BiggerPockets Cap Rate Guide → Know how to calculate investment ROI

• Cleveland Housing Court Tracker → Spot eviction risks and distressed deals

• Cleveland Real Estate Investor Facebook Group → Share deals and insights with local investors

📣 Weekly Wrap-Up

Cleveland’s real estate landscape this week mixed major financing approvals, landmark redevelopments, and high-end property moves — a snapshot of a market balancing growth, transformation, and long-term vision.

The Port of Cleveland approved $50 million in bond financing to back two major projects — the Chester 82 development and Park Synagogue expansion — signaling renewed confidence in institutional and mixed-use development corridors.

Meanwhile, another Downtown parking crater bites the dust: the Gateway District’s 3-acre surface lot across from Rocket Mortgage FieldHouse will soon make way for a major destination development expected to attract hundreds of thousands of annual visitors.

And in a game-changing infrastructure shift, the Haslams announced $100 million in funding to demolish the current Browns stadium and redevelop the lakefront site, while building a new enclosed Huntington Bank Field in Brook Park. The settlement ends years of dispute and opens the door for a reimagined downtown shoreline.

🏘️ Affordable Housing Momentum:

CHN Housing Partners broke ground on Parkside East, a $22.2 million project spanning Buckeye-Shaker, Glenville, and Hough — bringing 55 new family homes by 2026. With a 98% occupancy rate across its portfolio, CHN continues to address Cleveland’s deep housing shortage through lease-to-own programs and long-term stability strategies.

🏗️ Revitalization Pulse:

Cleveland’s east side is benefiting from mission-driven investment that balances revitalization with affordability — key to keeping communities stable amid rising property values.

🏡 Just Sold Spotlight – 1951 Columbus Rd, Cleveland, OH 44113

A stunning four-level townhouse overlooking the Cuyahoga River, featuring a chef’s kitchen, rooftop deck with fireplace, and private decks on multiple levels. The sale underscores continued strength in Cleveland’s urban-luxury market, especially near Flats, Tremont, and the upcoming Irishtown Bend Park.

Nearby comps remain strong — with recent sales ranging $485K–$655K — reinforcing the area’s growing appeal among professionals seeking modern living near recreation and dining.

🏠 House of the Week – Lake Erie Tudor Estate with Private Beach

Perched high on a Lake Erie bluff in Clifton Park, this timeless Tudor Revival combines old-world craftsmanship with breathtaking lake views. With a private beach, multiple fireplaces, a chef’s kitchen, and balconies overlooking manicured gardens, it’s one of Lakewood’s most coveted listings — a rare blend of heritage, luxury, and location.

Until next week,

Cleveland Real Estate Investors

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