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📬 In today’s edition:

• 📊 Where Cleveland Is Building Next

• 🏟️ CSU Stadium Deal Slows Down

• 💼 Smart Developers Are Pivoting Here

📰 Cleveland Market Minute

New apartment complex sought near Clinic

A potentially large, mixed-use residential-retail development is in the early stages of planning, to be located just west of the Cleveland Clinic’s Main Campus.

The site, 8000 Euclid Ave., notes a familiar, yet neglected city-designed landmark — the former bell tower of St. Agnes Church in the Fairfax neighborhood.

🔗 Read More

USL soccer stadium at CSU on hold

A proposal by Cleveland State University (CSU), the United Soccer League (USL) and local backers to build a $100 million soccer stadium and $250 million in supportive development where the Wolstein Center arena now stands appears to be, at best, on hold.

Its emergence may have served only to delay and dramatically increase the construction costs of a competing soccer stadium.

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Sterle’s site to become Living at 55

After a brief pause, the next chapter for a block of East 55th Street, between Bonna and Prosser avenues, is proposed to begin. That block, in Cleveland’s St. Clair-Superior neighborhood, held Frank Sterle’s Slovenian Country House for 68 years — an icon in Cleveland’s Slovenian and Croatian communities.

But now it is planned to become a 63-unit, income-restricted, senior housing development for people aged 55 years and older, led by Famicos Foundation, a community development corporation working in east-side neighborhoods.

🔗 Read More

🏠 Just Sold Spotlight – Gordon Square Historic Charm Meets Modern Living

📍 5206 Herman Ave, Cleveland, OH 44102

• 💰 Sold Price: $650,000

• 📏 Size: 3,540 sq. ft.

• 📅 Year Built: 1910

• 🛏 3 Beds | 🛁 2 Full + 1 Half Baths

• 🚗 Detached 2-Car Garage

• 🌳 Lot Size: 6,599 sq. ft.

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

This Gordon Square sale reinforces the premium buyers are willing to pay for fully renovated historic homes with modern functionality in walkable, lifestyle-driven neighborhoods. At roughly $184 per square foot, the pricing reflects strong positioning within the local comp set—especially given the home’s size, updates, and lake-facing appeal.

The property’s value is driven by its blend of character (original woodwork, hardwood floors) and flexibility (walk-up third level, multiple living spaces). These features create optionality for owner-occupants and investors alike—whether as a primary residence, long-term rental, or hybrid live/work setup. With a rent estimate near $3,300/month, the asset presents stable income potential in a high-demand submarket with limited turnkey inventory.

🏡 Neighborhood Insight

• 📍 Community: Gordon Square Arts District, Cleveland

• 🏞 Nearby Landmarks: Edgewater Park, Detroit Ave dining corridor, Downtown Cleveland

• 🚶 Accessibility: Highly walkable; under 10 minutes to Downtown with quick access to I-90

• 🌿 Lifestyle Appeal: Arts district energy, lakefront access, restaurants, nightlife, and cultural venues

📈 Recent Sales Nearby:

• 1777 W 57th St – $463,000 | 2 Bed | 3 Bath | 2.6k sq. ft.

• 6213 W Clinton Ave – $502,500 | 3 Bed | 3 Bath | 2.1k sq. ft.

• 1330 W 61st St – $510,000 | 4 Bed | 3 Bath | 2.3k sq. ft.

• 1882 W 47th St – $320,000 | 3 Bed | 3 Bath | 2.1k sq. ft.

• 2311 W 40th St – $479,900 | 3 Bed | 3 Bath | 1.8k sq. ft.

📌 Notable Features

• ✨ Renovated Colonial blending historic charm with modern finishes

• 🍽 Open-concept kitchen with stainless appliances, gas range, and wet bar

• 🪵 Original hardwood floors and detailed woodwork throughout

• 🔥 Cozy living room fireplace with additional flex living space

• 🛏 Spacious primary suite with dual sinks and private balcony

• 🧘 Walk-up third floor ideal for office, studio, or guest retreat

• 🌅 Lake Erie views with deck for outdoor relaxation

• 🌳 Fully fenced backyard for privacy

• 🚗 Detached 2-car garage with added storage

• 💸 Strong rental estimate (~$3,294/mo) supporting income potential

💡 Insider’s Insight

🏗️ Development Watch: “Living at 55” Signals Strategic Shift in East Side Housing

A significant infill redevelopment is taking shape along East 55th Street in Cleveland’s St. Clair-Superior neighborhood, where the former Sterle’s Country House once stood as a cultural landmark.

The proposed “Living at 55” project introduces a 63-unit, income-restricted senior housing community, backed by a $21 million investment and led by Famicos Foundation. Designed for residents aged 55+, the development targets households earning between 30% and 70% of the area median income—directly addressing a persistent affordability gap in the market.

The four-story project blends modern residential design with supportive living infrastructure, including accessible units, sensory-friendly layouts, on-site services, and community-centered amenities such as wellness areas and shared gathering spaces.

From a development standpoint, this project represents more than adaptive reuse—it reflects a strategic repositioning of underutilized urban land into high-demand housing segments, particularly senior and workforce housing.

📊 Professional Insight:

Affordable senior housing remains one of the most undersupplied asset classes in secondary markets like Cleveland. Projects like this not only stabilize neighborhoods but also create long-term occupancy resilience due to demographic demand trends.

🏙️ National Housing Market: Transition Phase Taking Hold

February 2026 data confirms that the U.S. housing market is continuing its transition away from the hyper-competitive seller conditions of recent years into a more balanced environment.

Inventory levels have now increased for 28 consecutive months, rising 7.9% year-over-year. However, despite this sustained growth, total supply remains nearly 17% below pre-pandemic norms—highlighting a recovery that is still incomplete and uneven.

At the same time, buyer activity is quietly strengthening. Pending home sales have climbed 4.2% annually, supported by mortgage rates dipping below 6%, marking the strongest contract activity in over a year.

Pricing trends are beginning to soften on a national level, with the median list price declining 2.1% year-over-year. However, this headline number masks significant regional divergence—Midwestern markets are holding firm, while Southern and Western markets are experiencing more noticeable price adjustments.

Homes are also taking longer to sell, averaging 70 days on market, signaling reduced urgency and increased negotiation leverage for buyers.

📊 Professional Insight:

This is not a downturn—it’s a normalization cycle. The market is recalibrating toward equilibrium, where pricing discipline, property condition, and location quality are once again the primary drivers of transaction success.

📍 Cleveland Market Positioning: Stability in a Shifting National Landscape

Cleveland continues to demonstrate relative stability compared to national volatility, reinforcing its position as a value-driven market with consistent demand fundamentals.

Current data shows:

• Median home price hovering around $241K (essentially flat year-over-year)

• Inventory expanding modestly (+7.8%)

• Slight pullback in new listings (-2.4%)

• Marginal increase in days on market

Unlike overheated metros that are now correcting, Cleveland’s pricing remained grounded, which is now proving advantageous. The market is not experiencing sharp declines—instead, it is absorbing inventory at a steady pace.

📊 Professional Insight:

Cleveland is increasingly attractive for long-term investors and out-of-state buyers seeking affordability without sacrificing urban infrastructure. Stability here is not stagnation—it’s a sign of a fundamentally healthy market.

📈 Strategic Takeaways for Buyers, Sellers & Investors

• Buyers now have more negotiating power, particularly on days-on-market and pricing

• Sellers must prioritize presentation, pricing strategy, and timing

• Investors should watch workforce and senior housing as high-demand segments

• Developers continue shifting toward mixed-use and affordability-driven projects

The broader signal is clear: we are entering a more disciplined, data-driven housing cycle.

🏡House of the Week – Lakeview Luxury Townhome with Rooftop Retreat in Battery Park

📍1232 W 73rd St, Cleveland, OH 44102

• 💰 Price: $565,000

• 📏 Size: 1,916 sq ft

• 📅 Year Built: 2023 (12-Year Tax Abatement Through 2038 – Significant Long-Term Savings)

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

• 🚗 Attached 2-Car Garage (EV Charging Hookup)

• 🏡 Four-Level Contemporary Townhome | Park Place at Battery Park

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: This newly built luxury townhome in Battery Park delivers modern lakeview living with rare long-term tax advantages, combining architectural sophistication with everyday efficiency. With three outdoor spaces and a private rooftop deck overlooking Lake Erie, the home is designed for both elevated entertaining and relaxed lakeside living.

The main living level features a bright open-concept layout with clean lines, contemporary finishes, and wood flooring throughout, seamlessly connecting the living, dining, and kitchen spaces. Thoughtful upgrades like under-cabinet lighting, staircase accent lighting, and wood window blinds enhance both function and design.

Upstairs, two well-appointed bedroom suites offer privacy and comfort, each paired with spa-inspired bathrooms. A private den on the entry level adds flexibility for a home office, gym, or guest space.

👉 Listed by: Kristin E. Rogers | Howard Hanna

📞 440-279-7080 | ✉️ [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 | Market, Development & Sales

New apartment complex sought near Clinic

A large mixed-use project is being explored near Cleveland Clinic’s main campus, targeting 8000 Euclid Ave. The site includes the historic St. Agnes bell tower—an underutilized landmark that could anchor future redevelopment in Fairfax.

USL soccer stadium at CSU on hold

Plans for a $100M stadium and $250M mixed-use development involving Cleveland State University and the USL appear paused, potentially impacting broader downtown sports development timelines.

Sterle’s site to become Living at 55

A historic East Side property is being redeveloped into a 63-unit senior housing community, signaling continued investment in affordable housing across Cleveland’s neighborhoods.

🏠 Just Sold Spotlight | Gordon Square Charm with Lake Views

• 📍 5206 Herman Ave, Cleveland, OH

• 💰 $650,000 | 3,540 sq ft | Built 1910

• 🛏 3 Beds | 🛁 2.5 Baths | 🚗 2-Car Garage

This Gordon Square property reflects strong buyer demand for renovated historic homes near Edgewater Park and the Detroit Ave corridor. With premium finishes, lake views, and flexible living space, it blends lifestyle appeal with long-term upside.

📊 Investor Takeaway

Well-located character homes continue to command strong pricing, with rental potential (~$3.2K/month) supporting hybrid lifestyle/investment strategies.

💡 Insider’s Insight

Cleveland’s development landscape continues to shift toward strategic infill and demand-driven housing, with projects like “Living at 55” highlighting a growing focus on affordable and senior living. At the same time, areas like Scranton Peninsula are rapidly transforming into high-density residential hubs, supported by infrastructure investments and prime connectivity between Downtown and Ohio City.

On a national level, the housing market is stabilizing—inventory is rising, price growth is cooling, and buyers are regaining leverage. However, Cleveland stands out for its relative price stability and steady absorption, avoiding the sharp corrections seen in overheated markets.

📊 Bottom Line: This is a normalization cycle—not a downturn. For investors and developers, the opportunity lies in targeting undersupplied segments like workforce and senior housing, while leveraging Cleveland’s affordability and long-term growth fundamentals.

🏡 House of the Week | Lakeview Luxury in Battery Park

• 📍 1232 W 73rd St, Cleveland, OH

• 💰 $565,000 | 1,916 sq ft | Built 2023

• 🛏 2 Beds | 🛁 2.5 Baths | 🚗 2-Car Garage

Modern 4-level townhome in Battery Park featuring rooftop lake views, multiple outdoor spaces, and a 12-year tax abatement. Designed for elevated urban living with strong long-term value.

🧘 Vibes: Clean, modern, low-maintenance luxury near the lake—ideal for professionals or lifestyle buyers.

👉 Listed by: Kristin E. Rogers | Howard Hanna

Until next week,

Cleveland Real Estate Investors

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