Author Topic: Cleveland: Downtown Cleveland Alliance News & Discussion  (Read 77557 times)

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Offline MuRrAy HiLL

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #420 on: January 30, 2015, 10:48:58 AM »
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Offline KJP

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #421 on: January 30, 2015, 11:29:30 AM »
@mjarboe has jumped on the story!

Downtown Cleveland apartment occupancy climbs, office supply shrinks due to conversions (photos)
By Michelle Jarboe McFee, The Plain Dealer
on January 30, 2015 at 11:53 AM, updated January 30, 2015 at 12:13 PM

CLEVELAND, Ohio -- Downtown Cleveland apartment occupancy ended 2014 at a near-record high, while the office market continued to constrict thanks to residential conversion projects.

A report released Friday by the Downtown Cleveland Alliance showcased a pivotal shift under way in the center city, a longtime office district that is becoming a mixed-use neighborhood. Apartment makeovers of historic buildings and, to a lesser extent, hotel projects are chewing up cheap, old office space. As a result, the pool of empty downtown offices is shrinking, making the market healthier despite tepid demand from corporate tenants.

And the residential push doesn't seem to be slowing. Downtown added just over 400 market-rate apartments last year, boosting supply by 7.8 percent. Renters quickly snapped up those dwellings, helping the center city end the year with a 97.8 percent occupancy rate.

MORE:
http://www.cleveland.com/business/index.ssf/2015/01/downtown_cleveland_apartment_o.html
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Offline SixthCity

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Offline MuRrAy HiLL

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #423 on: May 04, 2015, 12:56:56 PM »
2015 Q1 report:

http://www.downtowncleveland.com/media/243493/q1_2015updatefinal_spreads.pdf


I always get excited when these are released... Thanks! 

BTW, I was heavily considering buying a Downtown condo recently at the Pointe at Gateway.  Both units were bought with cash offers (still pending I believe) within days...like 1-3 days...of the listing.  They're still listed on Zillow as "For Sale"...but they're both gone already. 
« Last Edit: May 04, 2015, 12:59:45 PM by MuRrAy HiLL »
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Offline KJP

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #424 on: May 13, 2017, 05:43:44 PM »
http://www.downtowncleveland.com/news/may-2017/downtown-cleveland-alliance-releases-its-q1-2017-u

Downtown Cleveland Alliance Releases its Q1 2017 Update
May 10, 2017
 
Today, Downtown Cleveland Alliance (DCA) released the Downtown Cleveland Market Update for the first quarter of 2017. This comprehensive overview of office, retail, hospitality and housing markets solidified this past quarter as the start of an important year in the continuation of Downtown’s growth.
 
This is particularly true in the residential market. With the opening of the Residences at Leader in Q1 2017 and the 1,100 additional residential units that will come online this year as a result, the Downtown population is on pace to increase to 16,000 by early 2018. Other buildings with units that will come online this year include The Garfield and The Standard, that each utilized Historic Tax Credits to fund the projects.
 
Also in Q1 2017, the central business district continued to feed off the success of 2016, while still working to improve livability, connectivity and decrease commercial vacancy. This quarter, Millennia Companies purchased Key Tower on Public Square and announced that their staff will relocate to the building. This announcement was followed by Forest City Enterprises who announced that they will keep their headquarters in Downtown and move into Key Tower, as well.

The following highlights from Q1 offer a glimpse into Downtown Cleveland’s progress and momentum:

+ Hotel Occupancy, Average Daily Rate and Revenue Available per room all exceeded 2016 comparisons, despite the addition of 1,000 new hotel rooms since the same time last year.
+ Twelve (12) Downtown office locations recommitting to Downtown Cleveland.
+ K&D’s Residences at Leader welcomed its first wave of residents.
+ In March, Cuyahoga County Council approved financing for the Q Transformation project to provide updates to the arena that competes with others across the country to host concerts and shows. Cleveland City Council separately approved financing for the project in April.
+ The 41st Cleveland International Film Festival set record attendance by welcoming more than 106,000 visitors into Downtown Cleveland; it also announced its return to Downtown in 2018.
+ Downtown Cleveland Alliance hosted Downtown Cleveland Restaurant Week in February that welcomed more than 500 people to the Kick-off Party at The Arcade.

For additional highlights, a digital version of the Downtown Cleveland Q1 2017 Market Update is available here:
http://www.downtowncleveland.com/work/resources-reports
"Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for."-- Barack Obama

Offline KJP

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #425 on: August 11, 2017, 11:33:41 AM »
http://www.downtowncleveland.com/news/august-2017/downtown-cleveland-alliance-releases-its-q2-2017-u

Downtown Cleveland Alliance Releases its Q2 2017 Update
August 3, 2017
 
Today, Downtown Cleveland Alliance (DCA) released the Downtown Cleveland Market Update for the second quarter of 2017. This comprehensive overview of office, retail, hospitality and housing markets solidified this past quarter as the start of an important year in the continuation of Downtown’s growth.
 
In the second quarter of 2017, Downtown Cleveland made strides to connect the collection of vibrant downtown neighborhoods to each other and the surrounding areas. The improvements to downtown transit options also helped create strong, pedestrian connections. Increasing public transit options provides direct access to the growing number of jobs in Downtown Cleveland. In Q2, the Greater Cleveland Regional Transit Authority (RTA) and Northeast Ohio Areawide Coordinating Agency (NOACA) continued to build their offerings to accommodate downtown workers and residents. These improvements are highlighted in the report.
 
Downtown’s transportation options and other amenities allow organizations to use a downtown Cleveland office location as a recruiting tool. In Q2 2017, Robots and Pencils and NRP Group both announced that their offices would relocate to downtown Cleveland to gain access to talent and the amenities as part of the city center.
 
Additional Q2 report highlights showcase downtown Cleveland’s progress and continued momentum:
 
+ Playhouse Square announced plans for a 34-story apartment building.
+ Three residential projects in the downtown area were awarded Historic Tax Credits.
+ Three national restaurant chains opened in downtown Cleveland.
+ RTA extended C Line Trolley service to the Flats East Bank area, weekdays 7 p.m. to 11 p.m. and Weekends 11 a.m. to 11 p.m.
+ Successful advocacy efforts to protect the Ohio Historic Preservation Tax Credit in the 2017-2019 state budget and to renew the City of Cleveland tax abatement program, both of which are essential tools for sustaining housing development in downtown and other city neighborhoods.
 
For additional highlights, a digital version of the Downtown Cleveland Q2 2017 Market Update is available here:
http://www.downtowncleveland.com/DCA/media/DCA_Media/Work/Reports/Downtown-Cleveland-Q2-2017-Office-Market-Update-Spreads.pdf
"Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for."-- Barack Obama

Offline clvlndr

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #426 on: August 11, 2017, 01:39:07 PM »
^Just skimmed the Q2 report... It looks quite interesting and positive; well laid-out 2. 

It contains a couple transit clunkers imho: I don't see how 57K parking spaces and cheap parking is a positive to creating a dense, walkable CBD.  And I still don't see how extending the C-Line Trolley, that gets stuck and traffic and that doesn't even serve Public Square (into the Flats) is a positive while the built WFL, which can handle bigger crowds better, sits idle.

Offline Pugu

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Re: Cleveland: Downtown Cleveland Alliance News & Discussion
« Reply #427 on: August 12, 2017, 01:04:16 PM »
^p.9 of the DCA report---hotel occupancy in 2016Q3--77%---is the same as 2016Q2?  With the RNC, shouldn't Q3 be higher?  Also 43% for 16Q4--i don't know why they don't show 15Q4 for an honest comparison, 43% looks pretty bleak.

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