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📬 In today’s edition:

• 🏛 Cleveland Streamlines Real Estate Development

• 🏙 Ohio City High-Rise Living Under $200K

• 🥗 Cleveland Clinic Invests in Community Health

📰 Cleveland Market Minute

Canon Healthcare USA HQ comes into focus

After nearly a year since it acquired an office building in Cleveland’s University Circle and two years since it announced a partnership with Cleveland Clinic.

Canon Healthcare USA has now revealed that it is moving forward with modifications to that office building for its headquarters.

 🔗 Read More

Richmond mall redo, Old Brooklyn bank jobs get Port financing

The Belle Oaks Marketplace redevelopment will convert the former Richmond Mall site—currently a non-tax-generating property—into a vibrant mixed-use community expected to bring 1,100 to 1,900 new residents to the city.

The project is projected to create more than 1,400 construction jobs and, once complete, approximately 500 permanent jobs in future stores, restaurants, and businesses.

🔗 Read More

Clinic to coach healthy cooking at new kitchen

A large number of a hospital’s patients are treated for avoidable health problems, with many of those traced to what we eat. For many of us, we didn’t learn enough about healthy foods or how to prepare them.

The Cleveland Clinic hopes to change that by making a big investment in developing the Langston Hughes Community Health Food Services, 2390 E. 79th St., near the Clinic’s main campus in Cleveland’s Fairfax neighborhood.

🔗 Read More

🏠 Just Sold Spotlight – Avenue District Townhome with Lake & Skyline Views

📍 1438 E 14th St, Cleveland, OH 44114

• 💰 Sold Price: $475,000

• 📏 Size: 2,228 sq. ft.

• 📅 Year Built: 2020

• 🛏 3 Beds | 🛁 3 Full Baths + 1 Half Bath

• 🚗 2-Car Attached Garage (electric + door opener + interior access)

• 🏘️ Subdivision: Avenue District / Downtown Cleveland

• 💸 HOA: $115/mo (maintenance grounds, snow removal, trash)

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

This modern Avenue District townhome represents a rare downtown opportunity combining tax abatement, strong rental demand, and premium urban design. With an estimated rent of $3,774/month, the property delivers compelling cash-flow potential while benefiting from reduced tax exposure through 2035.

Spanning over 2,200 sq. ft. across multiple levels, the layout supports both owner-occupant and executive-rental use. The first-floor bedroom suite with a full bath adds flexibility for guests or short-term rental strategies, while the rooftop terrace—complete with wet bar and skyline/lake views—creates a high-value lifestyle feature that differentiates this asset within the downtown market.

🏡 Neighborhood Insight

• 📍 Community: Downtown Cleveland – Avenue District

• 🏞 Nearby Landmarks: Playhouse Square, Progressive Field, Rocket Mortgage FieldHouse, Cleveland Public Library, Heinen’s Downtown, restaurants, theaters, and entertainment

• 🚶 Accessibility: Walkable downtown living with excellent freeway access; minutes to I-90, I-77, and lakefront amenities

📈 Recent Sales Nearby:

• 1462 E 14th St – $540,000 | 3 Bed | 3 Bath | 2.2k sq. ft.

• 2157 Columbus Rd – $675,000 | 3 Bed | 4 Bath | 2.2k sq. ft.

• 2503 Thurman St – $578,500 | 3 Bed | 5 Bath | 2.3k sq. ft.

• 2102 Willey Ave – $535,000 | 3 Bed | 3 Bath | 1.8k sq. ft.

• 1481 Lindazzo Ave – $385,000 | 3 Bed | 4 Bath | 2.1k sq. ft.

📌 Notable Features

• ✨ Tax abatement through 2035

• 🔥 Custom marble electric fireplace (living room centerpiece)

• 🪟 Hardwood floors on all levels

• 🍽 Quartz kitchen countertops with breakfast bar + stainless appliances

• 🛏 Primary suite with walk-in closet and spa-style bath (dual sinks + tiled shower)

• 🛏 Second bedroom with ensuite bath and walk-in closet

• 🛏 First-floor bedroom suite with full bath (ideal guest or rental flexibility)

• 🍸 Rooftop terrace with wet bar, storage closet, and lake + skyline views

• 🧺 Upper-level laundry closet

• 🌿 Energy-efficient HVAC, insulation, windows, and thermostat

• 🏙 Modern brick, steel siding, and stone exterior

• ❄️ Forced air heating + central air cooling

💡 Insider’s Insight

🏙️ Cleveland Real Estate Brief | December 10, 2025

🏗️ A New Era for Cleveland Real Estate Development

Cleveland City Council has approved a major restructuring of City Hall’s development operations, officially renaming the Department of Economic Development to the Department of Development and consolidating the city’s real estate functions under one roof.

🔍 Why It Matters

City development responsibilities were previously spread across multiple departments, causing delays, backlogs, and confusion for residents and builders. The reorganization creates a single “front door” for commercial and residential projects, aiming to make Cleveland easier to do business in and more attractive to investors.

🧩 What’s Changing

• 🏢 18 staffers moved from Community Development into the new department

• 🗂️ Land Bank & asset redevelopment now centrally managed

• 🧭 Creation of a new Office of Land Strategy

• 👥 5 new positions added to support land acquisitions and sales

📊 The Big Number

• 📍 18,000 vacant parcels currently exist across the city

🗣️ What City Leaders Are Saying

Cleveland’s Chief of Integrated Development, Tom McNair, says the new structure will “radically speed up transactions” by eliminating internal bottlenecks and helping the city focus on growing long-term revenue not just reallocating limited resources.

Mayor Justin Bibb called the move a key step toward a more modern, responsive City Hall, stating simply: “Change is coming!”

🏙 House of the Week – Stonebridge Condo with City & Sunset Views

📍 2222 Detroit Ave #717, Cleveland, OH 44113

• 💰 Price: $185,000

• 📏 Size: 775 sq. ft.

• 📅 Year Built: 2005

• 🛏 1 Bed | 🛁 1 Bath

• 🚗 1 Assigned Garage Space

• 🏫 School District: Cleveland Municipal School District

🧘 Vibes: Experience luxury urban living in the heart of Ohio City at the highly sought-after Stonebridge Condominiums. This move-in-ready high-rise condo features an open-concept layout with floor-to-ceiling windows that flood the space with natural light and lead to a private covered balcony perfect for city and sunset views.

The kitchen is both stylish and functional with black granite countertops, warm wood cabinetry, stainless steel appliances, and a center island with breakfast bar seating. The living area offers laminate flooring and flexible space ideal for relaxing or a home office setup.

Unwind in the serene bedroom retreat, while the bathroom delivers spa-like comfort with a jetted tub. Additional conveniences include in-suite washer and dryer and elevator access.

Stonebridge residents enjoy heated interior parking, 24-hour fitness center, concierge service, on-site security, and a resident lounge—all just minutes from Downtown Cleveland, The Flats, Tremont, Ohio City, Gordon Square, Edgewater Park, and the Towpath Trail.

👉 Listed by: Ed Huck & Shannon Dubin | Keller Williams Citywide

📞 440-617-2500 | ✉️ [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 | December 2025

🏥 Canon Healthcare USA HQ Takes Shape

Canon Healthcare USA is moving forward with renovations to its University Circle office building, formally advancing plans for its U.S. headquarters following its partnership with Cleveland Clinic. The move strengthens University Circle’s role as a global healthcare and innovation hub.

🏗️ Major Redevelopment Wins Port Financing

The Belle Oaks Marketplace redevelopment at the former Richmond Mall site secured Port of Cleveland financing. Once complete, the mixed-use project is expected to welcome 1,100–1,900 new residents, generate 1,400+ construction jobs, and support 500 permanent jobs, converting a long-idle property into a new economic engine.

🧭 Insider’s Insight | City Policy & Development (Dec 2025)

Cleveland City Council approved a major overhaul of development operations, consolidating real estate, land bank, and asset strategy under the newly restructured Department of Development.

Why it matters:

• One centralized “front door” for developers

• Faster land transactions and approvals

• Strategic focus on activating 18,000 vacant parcels

City leaders expect the streamlined structure to significantly accelerate project timelines and improve investor confidence citywide.

🏠 Just Sold Spotlight – Avenue District Townhome

• 📍 1438 E 14th St, Cleveland, OH 44114

• 💰 $475,000 | 3 Beds | 3.5 Baths | 2,228 sq. ft. | Built 2020

A modern downtown townhome featuring a rooftop terrace with lake and skyline views, flexible multi-level layout, and tax abatement through 2035. Estimated rents near $3,774/month highlight strong executive and long-term rental potential in the Avenue District.

🏡 House of the Week – Stonebridge Condo

• 📍 2222 Detroit Ave #717, Cleveland, OH 44113

• 💰 $185,000 | 1 Bed | 1 Bath | 775 sq. ft.

High-rise living in Ohio City with sunset and city views, private balcony, and full-service amenities including fitness center, concierge, and heated garage parking. A highly accessible, entry-level investment minutes from Downtown, The Flats, and Edgewater Park.

Until next week,

Cleveland Real Estate Investors

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