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📬 In today’s edition:

• 🔑 After the smallest Cuyahoga round on record, Ohio's next brownfield grant is the largest ever

• 🔨 Cleveland's biggest highway project needs its own asphalt

• 🏗️ 300 units under construction in one arts district

📰 Cleveland Market Minute

New asphalt plant planned in Cleveland

Akron-based Kenmore Construction Co. has two big jobs in front of it. One is the multiyear reconstruction of Downtown Cleveland’s Central Interchange on Interstate 90 for $329 million. The other is to build a new asphalt plant for up to $20 million so it can pave the interchange’s new lanes and ramps.

According to plans submitted to Cleveland’s Building Department last week, the location for that new asphalt plant is a roughly 6-acre site at the south end of Cleveland’s Slavic Village neighborhood, near where it borders Newburgh Heights and Cuyahoga Heights.

🔗 Read More

A $120M opportunity to remake Cleveland

Returning vacant, polluted industrial sites to productive use in Cleveland and other established communities is typically not cost-effective for private investors to tackle. Yet leaving them rotting and fallow is not an option either.

That’s why the Ohio Brownfield Remediation Program is so important to the region’s urban core. And the next round of grants available from the program will be the largest one yet. It should make up for the last one, which was the smallest yet for Cuyahoga County.

🔗 Read More

West Blvd-Cudell TOD advances

On Cleveland’s West Side, three Transit-Oriented Developments (TOD) are moving ahead within a 10-minute walk of a single Greater Cleveland Regional Transit Authority (GCRTA) rapid transit station.

The West Blvd-Cudell rapid station is served by GCTRA’s heavy rail Red Line, the 24-hour No. 26 bus route, and the crosstown No. 18 bus route — but until recently, a GCRTA-owned property directly west of the station sat completely abandoned.

🔗 Read More

🏠 Just Sold Spotlight – Flagship Tremont Townhouse with Sub-Zero Kitchen, Rooftop Deck, Sonos Throughout & Full Tax Abatement Through 2034 on Scranton Rd

📍 2315 Scranton Rd, Cleveland, OH 44113

• 💰 Sold Price: $835,000

• 📏 Size: 2,608 sq. ft.

• 📅 Year Built: 2019

• 🛏 3 Beds | 🛁 4 Full Baths

• 🚗 Attached 2-Car Garage

• 🌳 Lot Size: 1,620 sq. ft.

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

Closing just $200 below its $835,200 Zestimate after 47 days on market, this Scranton Rd flagship traded at near-perfect valuation alignment rare at this price point in a 44113 market sitting at a buyer-favorable 35/100 index.

🏡 Neighborhood Insight

• 📍 Community: Tremont / Ohio City, Cleveland (44113)

• 🏞 Nearby Landmarks: Lincoln Park, Tremont restaurant corridor, Ohio City, West Side Market, Towpath Trail, downtown Cleveland

• 🚶 Accessibility: Highly walkable; steps from Tremont and Ohio City's best dining, nightlife, and cultural attractions

• 🌿 Lifestyle Appeal: Scranton Rd sits at the intersection of Tremont and Ohio City Cleveland's two most celebrated urban neighborhoods giving this property a lifestyle address that commands consistent buyer demand at every market cycle

📈 Recent Sales Nearby:

• 2275 W 19th St – $650,000 | 3 Bed | 4 Bath | 2.4k sq. ft.

• 2035 W 11th St – $825,000 | 3 Bed | 3 Bath | 2.5k sq. ft.

• 3118 Vine Ct – $825,000 | 3 Bed | 4 Bath | 2.5k sq. ft.

• 2253 W 19th St – $645,000 | 2 Bed | 4 Bath | 2.4k sq. ft.

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

Listed by: Jim Anderson | Progressive Urban Real Estate Co.

📞 216-280-7983| [email protected]

💡 Insider’s Insight

🏗 Gordon Square Building Spree Adds Nearly 300 Residential Units

Cleveland's Gordon Square Arts District, anchored at the intersection of Detroit Avenue and West 65th Street in the Detroit-Shoreway neighborhood, is quietly running one of the most concentrated residential construction booms in the city right now. Close to 300 units are actively under construction across a handful of projects, with an unusually strong mix of affordable senior housing, market-rate mid-rise, luxury lakefront high-rise, and small-format townhomes all going up inside the same walkable district.

The affordable component is anchored by Karam Senior Living at 7918 Detroit Ave., where developer Salus Development and nonprofit partner Northwest Neighborhoods CDC are building 51 senior units atop a rebuilt Walz Branch of the Cleveland Public Library. Gilbane Building Company has framed out the library at the ground floor, and Marous Brothers Construction will build the three residential floors of senior housing above. All apartments are reserved for seniors earning below 60 percent of Area Median Income. Bialosky designed the mixed-use structure.

Most of the rest of the pipeline is market rate. Canopy at 6400 Herman Ave. is the largest active project, a four-story, 135-unit apartment building rising on a former industrial site next to Herman Park. Developer Heirloom Company, led by Justin Strizzi, is partnering with Pride One Construction. Strizzi's previous project, Welleon just east of Gordon Square, exceeded 90 percent occupancy in under a year, which is the number to keep in mind when Canopy delivers.

📌 Gordon Square active pipeline

• Karam Senior Living: 51 affordable senior units + rebuilt Walz Library

• Canopy: 135 market-rate apartments, 141 off-street parking spaces, coworking amenities, outdoor pool

• Lake & 83 Townhomes: 4 units across 2 structures, permit issued July 28, $950,000 build cost

• Naia Noir: 13-story, 110 luxury units at 1200 W. 76th St., nearly topped out

Adding nearly 1,000 more high-wage aviation jobs to a single suburban Cleveland airport site is the kind of announcement that quietly re-rates surrounding commercial real estate for years.

The second is MMY U.S. Inc., a modular housing manufacturer establishing its American headquarters and manufacturing plant at the Wellman-Seaver-Morgan facility, 7000 Central Ave., inside Cleveland's new Midline Priority Investment Area on the near East Side. CEO Robin Bartram-Brown said the site provides the scale and infrastructure to significantly expand steel-framed modular housing capacity, and confirmed the company will use the Port of Cleveland to service Canadian customers.

📌 MMY U.S. at a glance

• 120 new full-time-equivalent positions by end of 2029

• $7.1 million in new annual payroll

• 1.392 percent, 8-year Ohio Job Creation Tax Credit

• $25.7 million renovation of the historic Wellman-Seaver-Morgan plant

• Ohio Historic Preservation Tax Credits already secured

The headline project is Naia Noir, Cuyahoga County's first lakefront high rise in more than 50 years. The 13 story, 110 unit luxury tower at 1200 W. 76th St. is less than three weeks from topping out. Developer J Roc Development previously converted the neighboring former Globe Machine building into The Shoreway, and the two buildings will share a new 169 space garage at the base of the tower. Naia Noir was designed by Evident Architecture Office of Portland, Oregon, with John G. Johnson Construction as general contractor.

🔑 Investor Takeaway

The important story is not any single project, it is the fact that four very different housing products are being built simultaneously inside one arts district. Affordable senior at Karam, workforce-adjacent market rate at Canopy, small-format for-sale townhomes from Insight Holdings, and lakefront luxury at Naia Noir all deliver into essentially the same walkable submarket over the next 18 months.

🏛 925 Euclid Owner Wins 30 More Days to Save The Centennial

The owner of the 1.45 million square foot 925 Euclid Ave. just bought itself another month. On July 28, Millennia Companies affiliate HH Cleveland Huntington, L.P. filed a motion in federal court to extend the equity of redemption deadline from July 30 to August 30. Two days later, U.S. District Court Judge Charles Fleming granted the extension without objection from the court appointed receiver, giving Millennia principal Frank Sinito 30 more days to arrange financing and retain the property.

Sinito's filing stated the company is "only weeks away from obtaining a loan or funding commitment sufficient to redeem the property," and characterized redemption as "a win win for all parties." A company spokesperson confirmed to NEOtrans that HH Cleveland Huntington has "extended existing entitlements and put in place the necessary mechanisms to obtain financing and satisfy the bank loan." Court appointed receiver John Lane did not object to the extension.

📌 The financial picture in one glance

• Original acquisition price (2015): $40 million

• Deutsche Bank loan in default: $33.4 million

• Cuyahoga County loan in the stack: $5 million

• Unpaid property taxes owed to the county: $1.7 million

• Total redemption amount by August 30: $40.1 million

• Public sector grants, loans, and tax credits previously won: $70 million

The court schedule if Millennia does not redeem stays exactly where Judge Fleming set it on June 30. Qualified bids are due October 24, bidders are notified October 28 whether an auction will be held, an auction if necessary is November 3, and the deadline for objections to any sale is November 10. That timeline gives the receiver a full 60 days after the new August 30 deadline to run a proper sale process if redemption fails.

Millennia's planned redevelopment as The Centennial would deliver 870 workforce apartments, 90,000 square feet of Class A office space, and 20,000 square feet of retail inside the 1924 built, 21 story former Huntington Bank building.

🔑 Investor Takeaway

The 30 day extension is not just a procedural pause, it is a real signal that a capital partner is close to committing. Judges grant these extensions when the filing shows credible progress, not because a defendant asks nicely, and the receiver's decision not to object matters just as much.

🏡House of the Week – West Coast-Styled Tremont Gem with 3-Car Garage, Private Sun Deck & Abatement Through 2030

📍 2509 Thurman Ave, Cleveland, OH 44113

• 💰 Price: $649,000

• 📏 Size: 2,183 sq ft

• 📅 Year Built: 2015 | Tax Abatement Through 2030

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

• 🚗 Attached 3-Car Garage

• 🏡 Single Family Residence | Tremont

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: A west coast-inspired single family home on one of Tremont's most coveted streets with a three-car garage, 25-foot soaring ceilings, a fenced backyard oasis, private sun deck, and a tax abatement running through 2030. No HOA.

👉 Listed by: Scott A. Marvin | Team Results Realty

📞 614-382-2124 ✉️ [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