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Title: NEOtrans – Greater Cleveland economic, real estate, development, construction news

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With its lease running out at the end of next year, a major employer in Downtown Cleveland is searching for answers. The questions are -- to stay put and aid in the rebirth of a decaying property? To relocate to another downtown building? Or to move to one of many vacant, modern office buildings in the suburbs?

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In May 2022, NEOtrans broke the news that Timothy L. Tramble, Sr., president and CEO of the St. Luke's Foundation, planned to build 48 mixed-income housing units on East 89th Street through his firm We Rise Development LLC. This development symbolizes a broader trend of renewed investment in Fairfax, from Innovation Square to the expansion of Cleveland Clinic.

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With interior demolition work wrapping up, the Erieview Tower redevelopment team is now getting ready to update the building's life safety infrastructure and convert the tower's midsection to residential.

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Due to higher operating costs, especially in healthcare for its employees, the Greater Cleveland Regional Transit Authority (GCRTA) plans to make significant cuts to bus and rail services in 2026, cutting a lifeline to jobs, education and medical services.

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For the first time ever, a tower crane has risen along Cleveland's lakefront near Edgewater Park on the city's West Side. It marks the spot and the approximate height of a new, luxury apartment tower that will rise next to it over the next 15 months or so.

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