Northeast Ohio is primed to add about 3,300 suites over the next year. However, real estate developers believe the window for such huge expansion here may be closing.
Krueger Group of Cleveland and RHM Real Estate of Lyndhurst have formed partnerships to pursue a multimillion-dollar upscale apartment project in Rocky River as well as snag a surprisingly large, 6-acre parcel in the suburb's downtown for a potential mixed-use project.
Rising interest rates may slow future apartment deliveries in Northeast Ohio, but developers are finding rates remaining good enough, and construction costs stabilizing, to keep new projects coming out of the ground.
TREO, the apartment rising near the West 25th Street Bridge, and The Edison in the Detroit-Shoreway neighborhood are on the market. Plus, there's a new Nosal in the Northeast Ohio realty brokerage game, and a Beachwood real estate company closed a big deal out of town.