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Defense Spending Is Surging. Here's Where It's Going.

Global defense budgets are expanding, but the allocation has changed. A growing share of spending is going toward AI-enabled systems, satellite networks, and advanced aerospace, not the platforms that dominated the last generation of procurement. We identified five companies at the center of this reallocation in a single research brief. Inside, you'll find the investment case for each, the contracts driving revenue, and the risks worth understanding before you commit capital. If you want exposure to defense sector growth beyond the traditional mega-caps, this report is a practical starting point. Free, concise, and built for investors who want to move ahead of the crowd.

Read the report

📬 In today’s edition:

• 💧 Utility Concerns Grow Around Data Center Expansion

• 🛒 West Side Market Lands Major Redevelopment Funding

• 🏭 Cleveland Stove Co. Redevelopment Moves Forward

📰 Cleveland Market Minute

Tremont, Duck Island developments near completion

Cleveland’s Tremont neighborhood is one of the most desirable in the city — and its tight housing market reflects that. But with a handful of developments now wrapping up, it may be the perfect time for those considering a move to the area.

At the northwest corner of the neighborhood, in Duck Island, new townhome and single-family infill developments are expanding the stock of owner-occupied housing. The larger urban residences are perfect for families, or remote workers who need space for a home office.

🔗 Read More

City loses another fight against spread of downtown parking lots

An historic church in Downtown Cleveland’s Gateway District won its case before the city’s Board of Zoning Appeals (BZA) today to use a newly purchased property at 1212-1260 Sumner Ave. as a surface parking lot for up to 90 vehicles.

In an emotionally charged two-hour debate, after nearly a year of disagreements, BZA voted unanimously to grant St. Maron Church, 1245 Carnegie Ave., a variance to ignore the city’s zoning laws.

🔗 Read More

Cuyahoga gets its $1M brownfield allocation

Although each county in Ohio was limited to $1 million in Ohio Brownfield Remediation grants in this round of funding awards, Cuyahoga County made the most of it despite its voracious appetite for such grants as it repositions its former, massive industrial base in the post-industrial era.

Two projects in Cleveland won funding — the renovation of the West Side Market in Ohio City and the repositioning of the former Cleveland Cooperative Stove Co. site in the newly announced Midline redevelopment district in the Central neighborhood.

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🏠 Just Sold Spotlight – Historic High-Rise Condo with Brand-New Windows, Skyline Views & Walkable Downtown Living at The Pointe at Gateway

📍 750 Prospect Ave E APT 605, Cleveland, OH 44115

• 💰 Sold Price: $220,000

• 📏 Size: 1,049 sq. ft.

• 📅 Year Built: 1913

• 🛏 2 Beds | 🛁 2 Full Baths

• 🚗 No Garage

• 🌳 Lot Size: —

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

At $210/sq. ft. and a sold price slightly below the $234,300 Zestimate, this Downtown Cleveland condo closed at a compelling value in one of the city's most walkable zip codes. The Pointe at Gateway commands a $671/month HOA that covers sewer, water, trash, security, and reserves — making carrying costs predictable for both owner-occupants and investors. With a Rent Zestimate of $1,735/month and recent comparable sales ranging from $164,000 to $255,000 in the immediate corridor, this unit's fully updated condition and brand-new windows (a $16,000 improvement absorbed by the seller) positions it well above the floor of the submarket.

🏡 Neighborhood Insight

• 📍 Community: Downtown Cleveland / Gateway District

• 🏞 Nearby Landmarks: Rocket Mortgage FieldHouse, Progressive Field, Playhouse Square, East Fourth Street

• 🚶 Accessibility: Exceptionally walkable; steps from Cleveland's premier dining, sports, and entertainment destinations

• 🌿 Lifestyle Appeal: Urban living at its most connected — professional, sports-forward, and entertainment-rich with everything downtown Cleveland offers at your doorstep

📈 Recent Sales Nearby:

• 1104 Prospect Ave E APT 302 – $242,000 | 2 Bed | 2 Bath | 1.1k sq. ft.

• 1951 W 26th St APT 502 – $229,900 | 2 Bed | 2 Bath | 1.1k sq. ft.

• 1951 W 26th St APT 301 – $255,000 | 2 Bed | 2 Bath | 1k sq. ft.

• 750 Prospect Ave E APT 701 – $164,000 | 2 Bed | 2 Bath | 1k sq. ft.

• 2222 Detroit Ave APT 503 – $223,000 | 2 Bed | 2 Bath | 1.1k sq. ft.

📌 Notable Features

• 🪟 Brand-new wall of windows valued at ~$16,000 — fully paid by the seller at no cost to the buyer

• 🏙 Sweeping city skyline views from a secured high-rise in the heart of the Gateway District

• 🍽 Updated kitchen with stainless appliances, tile backsplash, and added cabinetry

• 👑 Renovated primary suite with new tiled walk-in shower, updated vanity, flooring, and mirrors

• 🛁 Second full bath with new flooring, updated vanity, and added linen closet

• 🧺 In-unit laundry on the main level for everyday convenience

• ✨ Fresh paint, new lighting throughout, and updated molding and trim in every room

• 🏋 Building amenities include secure access, an attractive lobby, and a workout room

• 🔑 HOA at $671/month covers water, sewer, trash, security, and reserve fund

💡 Insider’s Insight

⚡ Ohio Data Center Tax Breaks Top $550M

🏛 State Incentives Surge Alongside Data Center Boom

Ohio handed out more than $550 million in sales tax breaks for data centers in 2024 — massively exceeding the original estimate of roughly $130 million.

📍 Cleveland Pushback Intensifies

Cleveland recently rejected a permit application tied to the proposed $1.6 billion Slavic Village hyperscale data center, while City Council weighs a temporary moratorium on new data center development.

💬 Mayor Justin Bibb Responds

Mayor Justin Bibb says the city is reviewing stronger safeguards focused on:

• 🌱 Environmental impact

• ⚡ Rising utility costs

• 🏙 Community transparency

• 📋 Future zoning and policy controls

🏗 Statewide Trend

At least 18 Ohio communities have already enacted or considered temporary pauses or moratoriums on new data center projects as concerns grow around infrastructure strain and energy demand.

📈 Bigger Picture

The controversy reflects a growing national debate:

• 🤖 AI growth is accelerating hyperscale development

• ⚡ Massive power usage is stressing utility grids

• 💧 Water consumption remains a concern

• 💰 Cities are questioning whether tax incentives outweigh long-term costs

🏭 Cleveland Brownfield Redevelopment Update

🛒 West Side Market Receives Brownfield Funding

💰 Grant Award

The historic West Side Market secured a $763,750 Ohio Brownfield Grant to support environmental remediation and redevelopment preparation.

🏗 Renovation Scope

The project includes:

• 🧱 Remaining asbestos abatement

• 🎨 Lead remediation

• 🔨 Interior demolition work

• 🍽 Expanded food hall and vendor areas

• 🎉 New event and courtyard spaces

📊 Economic Impact

Officials estimate the project could generate:

• 👷 193 new jobs

• 🏙 Increased tourism and business activity

• 📈 Long-term revitalization for Ohio City

🏛 Additional Funding

The market previously received a $5 million Ohio Historic Preservation Tax Credit supporting a larger $71.3 million renovation initiative.

🏗 Cleveland Cooperative Stove Co. Site Redevelopment

🚧 Emergency Demolition Begins

📍 Historic Industrial Site at Risk

The former Cleveland Cooperative Stove Co. facility at 6700 Central Ave. is undergoing emergency demolition after storm damage caused severe structural instability.

⚠ Immediate Safety Concerns

Key issues include:

• 🌪 Roof collapse from storm damage

• 🧱 Risk of wall collapse into streets and rail lines

• 🚧 Road closures near East 67th Street

• 🚂 Proximity to active Norfolk Southern rail tracks

💰 Brownfield Grant Award

The site received a $236,250 Brownfield Grant for:

• 🧪 Phase I & II environmental assessments

• ☣ Asbestos and hazardous material studies

• 📋 Redevelopment planning

🏭 Future Redevelopment Potential

The site sits within Cleveland’s new Midline Priority Investment Area, a 350-acre redevelopment corridor spanning:

• Central

• Fairfax

• Kinsman neighborhoods

Officials believe the site could support future:

• 🏗 Light manufacturing

• 🏢 Industrial reuse

• 👷 Job creation initiatives

📈 Projected Impact

The redevelopment effort is expected to:

• 👷 Create 222 new jobs

• 🏭 Retain existing industrial activity

• 🔄 Transform underutilized industrial land

🏡House of the Week – Four-Level Corner Unit with Lake Erie Views at The Belvedere

📍 1219 W 69th St, Cleveland, OH 44102

1. 💰 Price: $460,000

2. 📏 Size: 2,464 sq ft

3. 📅 Year Built: 2001 | Recently Updated

4. 🛏 3 Beds | 🛁 2 Full Baths + 1 Half Bath

5. 🚗 Attached 2-Car Garage

6. 🏡 Corner Unit Townhouse Condominium | Gordon Square Arts District

7. 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: Four levels. Lake Erie views. A third-floor great room with soaring ceilings that stops visitors in their tracks. This corner unit at The Belvedere sits at the intersection of Cleveland's most culturally rich neighborhood and its most coveted lakefront address — and at $187 per square foot, it's priced like the market hasn't caught up yet.

The main living level makes an immediate impression with a light-filled great room anchored by a gas fireplace finished in custom marble tile, flowing into a dining area and eat-in peninsula kitchen built for both daily living and easy entertaining. Fresh paint throughout, continuous vinyl plank flooring across all four levels and staircases, and upgraded kitchen and living room lighting give the interior a clean, move-in-ready feel without the new-construction premium.

👉 Listed by: Doug Stillwagon | Berkshire Hathaway HomeServices Stouffer Realty

📞 312-835-1475 | ✉️ [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 Real Estate Weekly | Brownfield Revival, Downtown Value & Lakefront Living

Cleveland's market continues balancing two realities at once: large-scale redevelopment and expanding inventory. While national housing momentum slows and buyers gain leverage, Cleveland remains active with new investment pipelines, adaptive reuse projects, and strong demand for premium urban housing.

📊 Market Momentum: Brownfields, Data Centers & Neighborhood Identity

Ohio's data center debate is heating up — with $550M in state tax breaks colliding against Cleveland's growing pushback, permit rejections, and a potential moratorium.

💡 Takeaway: Cleveland is shifting into a more balanced market — still affordable relative to national averages, but increasingly competitive on quality product.

🏠 Just Sold Spotlight | Historic High-Rise Condo with Skyline Views at The Pointe at Gateway

• 📍 750 Prospect Ave E APT 605, Cleveland, OH 44115

• 💰 $220,000 | 📏 1,049 sq ft

This Downtown Cleveland condo closed at $210/sq. ft. — slightly below its $234,300 Zestimate — in one of the city's most walkable zip codes.

💡 Insider Insight

Cleveland is entering a more sophisticated phase of its real estate cycle. Unlike overheated Sun Belt markets correcting sharply, Cleveland's affordability advantage remains intact while development activity expands across industrial, residential, and mixed-use sectors.

The result is a healthier market environment where pricing discipline, location quality, and differentiated assets matter more than pure momentum.

🏡 House of the Week | Four-Level Corner Unit with Lake Erie Views at The Belvedere

• 📍 1219 W 69th St, Cleveland, OH 44102

• 💰 $460,000 | 📏 2,464 sq ft

A four-level corner unit in Gordon Square's Belvedere community offering Lake Erie views, a soaring great room with custom marble-tile gas fireplace, and move-in-ready finishes across all four levels — at $187/sq. ft.

Cleveland Real Estate Investors

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