Cleveland Rocks: America’s surprising office conversions leader
The Weekly Take from CBRE
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Revitalizing Cleveland: Project Scarlet and Beyond
This chapter explores Project Scarlet, a redevelopment initiative transforming a historic building in Cleveland into a boutique hotel and multifamily units, potentially marking the first branded multifamily development in the U.S. The discussion highlights the rising interest in Cleveland's real estate market, driven by domestic and international investors, as well as the challenges of building conversions amid high costs and land scarcity. Emphasizing collaboration among various stakeholders, the chapter underscores the need for innovative financing and government support to address the housing shortage and facilitate successful transformations in the region.
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