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📬 In today’s edition:

• 🏗 Former Dave’s Site Targeted for New Development

• 🌅 Lake Erie View Townhome Featured Listing

• 🏀 Cavs Legacy Inspires New Public Space

📰 Cleveland Market Minute

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.

🔗 Read More

New downtown park with basketball court fast-tracked

Plans for a re-imagining of the “Meet Me Here” park in Downtown Cleveland were fast-tracked by the City of Cleveland planning commission on Friday.

The expedited process is now more clear given that developers seek to open it in time for the 10th Anniversary of the Cavaliers’ 2016 National Basketball Association (NBA) Championship.

🔗 Read More

Michael Symon joins River Roots’ move to Flats

Celebrity chef Michael Symon announced he is partnering with a local, new-start whiskey distiller in its planned move to Cleveland’s Flats. NEOtrans reported nearly a year ago that River Roots Barrel Company was making a move to the Columbus Road peninsula along the Cuyahoga River.

His investment in the project will expand it from a liquor bottling and barrel storage operation to a bar with food and, of course, liquid refreshment.

🔗 Read More

🏠 Just Sold Spotlight – Luxury Downtown Condo with Lake & Skyline Views

📍 701 W Lakeside Ave APT 1008, Cleveland, OH 44113

• 💰 Sold Price: $444,400

• 📏 Size: 1,632 sq. ft.

• 📅 Year Built: 2005

• 🛏 2 Beds | 🛁 2 Full + 1 Half Baths

• 🚗 2 Assigned Garage Parking Spaces

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

This sale at the Pinnacle Condominiums highlights sustained demand for luxury high-rise living in Downtown Cleveland, particularly units offering premium views and full-service amenities. Trading around $272 per square foot, the property falls within its estimated valuation range of $425K–$469K, reinforcing stable pricing for well-positioned downtown condos.

With an estimated rent of $2,496 per month, the unit offers moderate rental potential but is primarily positioned for lifestyle-oriented buyers or executive housing rather than yield-driven investors. Over the past decade, the property type has experienced over 200% value growth, reflecting broader appreciation in Cleveland’s urban residential core.

For investors, furnished units like this—paired with concierge services and walkable access to major employment centers—can perform well as corporate rentals or longer-term executive leases, especially in buildings with strong amenity packages and secure parking.

🏡 Neighborhood Insight

• 📍 Community: Downtown Cleveland – Warehouse District / Lakeside Corridor

• 🏞 Nearby Landmarks: Lake Erie shoreline, Huntington Convention Center, FirstEnergy Stadium, Rock & Roll Hall of Fame

• 🚶 Accessibility: Walkable to Downtown offices, lakefront attractions, and public transit

• 🌿 Lifestyle Appeal: High-rise living with lake views, dining, entertainment, and cultural venues nearby

📈 Recent Sales Nearby:

• 701 W Lakeside Ave #501 – $415,000 | 2 Bed | 3 Bath | 1.9k sq. ft.

• 701 W Lakeside Ave #905 – $707,000 | 3 Bed | 3 Bath | 2.0k sq. ft.

• 1237 Washington Ave #1202 – $637,500 | 2 Bed | 2 Bath | 1.9k sq. ft.

• 1237 Washington Ave #408 – $329,000 | 2 Bed | 2 Bath | 1.2k sq. ft.

• 1237 Washington Ave – $307,000 | 2 Bed | 2 Bath | 1.1k sq. ft.

📌 Notable Features

• ✨ 10th-floor condo with panoramic lake, river, and city views

• 🪟 Floor-to-ceiling windows bringing in abundant natural light

• 🔥 Double-sided gas fireplace connecting living room and primary suite

• 🍽 Granite kitchen with wood cabinetry and stainless appliances

• 🛏 Two bedrooms with en-suite baths and walk-in closets

• 🌇 Private balcony overlooking Downtown and the waterfront

• 🚗 Two covered parking spaces included

• 🏢 Full-service building amenities: 24-hour concierge, fitness center, sauna/yoga rooms, and outdoor resident patio with grills

💡 Insider’s Insight

🏗 Collinwood Redevelopment Moves Forward

The City of Cleveland has formally engaged First Interstate Properties to study the redevelopment of the former Dave’s Supermarket and adjacent Ponderosa site at 15900 Lakeshore Boulevard in the Collinwood neighborhood.

The 6.4-acre property, acquired by the city in January 2025, has remained largely inactive since the grocery store closed in April 2022, leaving the neighborhood without a full-service grocery option.

City officials are now launching a structured feasibility process in partnership with the Cuyahoga Land Bank, evaluating the site for a mixed-use redevelopment concept.

Key elements of the feasibility phase

• Market demand analysis

• Environmental assessments

• Financial modeling

• Preliminary design concepts

• Traffic and infrastructure studies

The goal is to determine whether the site can support a financially viable, community-focused development that restores food access and reinvigorates the Lakeshore Boulevard corridor.

📍 The corridor targeted for revitalization stretches roughly from East 156th Street to East 171st Street.

Market Signal

If approved, the redevelopment could serve as a catalyst for broader Collinwood neighborhood investment, particularly with nearby improvements including lakefront upgrades at Euclid Creek Reservation.

🏢 $119M Lakewood Common Development Goes Vertical

Construction is advancing on the Lakewood Common mixed-use development, a $119 million project transforming the former Lakewood Hospital site in Downtown Lakewood.

The project is being developed by CASTO, with Panzica Construction leading the build and Dimit Architects handling design.

Phase One Highlights

• 132 residential apartments

• 25,000 square feet of retail

Five-story mixed-use building

Full Development Plan

• When completed, Lakewood Common will include:

• 132 apartments in the first building

• 74 additional apartments

• 87 more apartment units

• 7 townhomes

• 536-space parking garage

• Community plaza along Detroit Avenue

• A small neighborhood park

Historic Element

The development will also renovate the Curtis Block, a historic building dating back to 1913, preserving its storefront retail space and five residential units.

Completion Timeline

The first phase of the development is expected to finish in 2027.

Market Signal

Lakewood Common fills the long-vacant hospital site and is expected to reconnect Downtown Lakewood’s urban fabric, bringing new housing density and retail activity to Detroit Avenue.

🏡House of the Week – Lakefront Corner Townhome in Gordon Square

📍1219 W 69th St, Cleveland, OH 44102

• 💰 Price: $499,000

• 📏 Size: 2,464 sq ft

• 📅 Year Built: 2001 (Updated/Remodeled)

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

• 🚗 Attached 2-Car Garage

• 🏡 Four-Level Corner Townhome | Casa Belvedere Condominiums

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: This beautifully updated corner-unit townhome at Casa Belvedere blends modern interior updates with sweeping Lake Erie and marina views in the heart of Cleveland’s vibrant Gordon Square Arts District. With four levels of living space, expansive windows, and multiple balconies, the home captures unforgettable sunsets and a true North Coast lifestyle.

The main living level welcomes you with a light-filled great room, highlighted by a fireplace finished in custom-sized marble tile, flowing seamlessly into a generous dining area and eat-in peninsula kitchen designed for both everyday living and entertaining. Recent updates include fresh paint throughout, continuous vinyl plank flooring across all four levels, and upgraded lighting that enhances the modern feel of the space.

The second level features an oversized owner’s suite with walk-in closet, private full bath, and balcony access, along with a spacious guest bedroom and an additional full bathroom. Above, the third level showcases soaring ceilings and breathtaking Lake Erie views, creating a versatile space perfect for a third bedroom, media lounge, or entertainment level.

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

📞 216-303-7301 | ✉️ [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

A high-level look at the projects, sales, and momentum shaping Northeast Ohio right now.

⚽ Stadium Uncertainty & Downtown Activation

A proposed $100M USL soccer stadium at Cleveland State University appears to be on hold, delaying a larger $250M redevelopment concept tied to the Wolstein Center site.

At the same time, Downtown’s “Meet Me Here” park redesign is being fast-tracked to open in time for the 10-year anniversary of the 2016 title by the Cleveland Cavaliers.

In the Flats, celebrity chef Michael Symon is partnering with River Roots Barrel Company to expand a planned whiskey distillery into a bar and hospitality concept along the Cuyahoga River.

Market Signal: Downtown growth is increasingly tied to experiential destinations and public gathering spaces.

🏠 Just Sold Spotlight | Downtown Luxury Condo

• 📍 701 W Lakeside Ave APT 1008, Cleveland, OH 44113

• 💰 $444,400 | 1,632 sq ft | 2 Bed | 2.5 Bath | Built 2005

This 10th-floor condo at Pinnacle traded near $272/sq ft, reflecting stable pricing for Downtown luxury units with lake and skyline views.

Estimated rent around $2,496/month positions the property more for lifestyle buyers or executive rentals than yield-focused investors.

Investor Takeaway: Amenity-rich buildings with concierge services and secure parking remain attractive for corporate renters.

💡 Insider’s Insight

Cleveland’s market story right now is steady reinvestment.

Large megaprojects may pause, but mixed-use housing, neighborhood redevelopment, and entertainment-driven destinations continue advancing across the region.

The shift signals a market focused less on speculation and more on long-term urban livability and diversified growth.

🏡 House of the Week | Lakefront Corner Townhome in Gordon Square

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

• 💰 $499,000 | 2,464 sq ft | 3 Bed | 2.5 Bath | Built 2001

This four-level corner townhome at Casa Belvedere offers sweeping Lake Erie and marina views, multiple balconies, and updated interiors including vinyl plank flooring, fresh paint, and a marble-tile fireplace.

Located in the heart of the Gordon Square Arts District, it combines walkability, lakefront access, and flexible living space across four levels.

Until next week,

Cleveland Real Estate Investors

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