Where is Cleveland getting the money?!?! (Euclid, Mayfield: real estate, loans, hotels)

[Peregrine]

Originally Posted by Clevelander17

University Circle is financing it's own mistakes.

Who peed in your Wheaties?!?!? wtf Negative Nancy. Mistakes?? Really? None of that... repeat NONE of that... looks like a mistake to me.

[Cleveland_Collector]

Originally Posted by Clevelander17

I was more referring to the Medical Mart project.

University Circle is financing it's own mistakes.

And, the Medical Mart/Convention Center is a "boondoggle" how exactly?

University Circle finances nothing. It is a neighborhood, not a bank.

It's fairly obvious that you are being negative for the sake of being negative. It's also fairly obvious that you're completely clueless about many things. Either have a basis in fact or turn it down a notch or seven.

[andremclippers]

I think a lot of people see a ton of potential in Cleveland... I feel like it's an untapped resource almost.

The city has so much potential... so many areas that have chances to invest in. I think A lot of people know that especially investors... problem is we had the "three stooges" taking all the money away from the city. We truly were a corrupt city.. and have been for a long time (the flats, prime example).

Ever since they left have you noticed how many projects have received the "green light"

Also doesn't help our mayor can't put together a sentence. Although I think he's done a decent job, we need new blood in our government, But that's another arguement.

[rranger]

Originally Posted by Cleveland_Collector

I sense that you believe that this development has just been thrown together recently and that the driving force is mostly the government. This really isn't the case. Of course, city government has been doing what is necessary to facilitate the development. However, much of this has been in the works for years. The financial holdbacks are now being released.

With all due respect, I think you presume a lot, perhaps because the reflexive reaction - based purely on what I've read in other threads - is to assume people think Cleveland is "no where". On the contrary, I live in Boston, and development here has clearly dried up in the past three years - even for projects that were on the docket for years!

I'm astonished that ANY CITY can keep it going through these times. So, I was curious (and still am) as to what the source of the funding was. I guess a lot of the funding comes from activity around Cleveland Clinic and Case Western (at least anecdotally), but I'm not sure.

What's particularly stunning about what I've read is that most of the work is taking place on the Euclid/Carnegie corridor between University Circle and Downtown - an area that as recently as ten years ago was written off. Apparently, Cleveland's leaders aren't as backward as some posters here would have a reader believe. And, yes, BTW, I'm sure much of the initiative is driven by the guuuvernmunt - not a dirty word in my book!

[rranger]

Originally Posted by citydudeallover

So Am I, but I am not surprized, Cleveland is not going to let herself die,
Did you not see it coming ? it all started in 1700's when the Cuyahoga River and the swamp made most people die , yet she grew like the blacksheep of the family because of it . See I can not answer your
question , without a question . Why did you leave be honest !
To feel part of the community one needs to get involved.





I'm stunned!

[/quote]

What (TF)?

[Cleveland_Collector]

Originally Posted by rranger

With all due respect, I think you presume a lot, perhaps because the reflexive reaction - based purely on what I've read in other threads - is to assume people think Cleveland is "no where". On the contrary, I live in Boston, and development here has clearly dried up in the past three years - even for projects that were on the docket for years!

I'm astonished that ANY CITY can keep it going through these times. So, I was curious (and still am) as to what the source of the funding was. I guess a lot of the funding comes from activity around Cleveland Clinic and Case Western (at least anecdotally), but I'm not sure.

What's particularly stunning about what I've read is that most of the work is taking place on the Euclid/Carnegie corridor between University Circle and Downtown - an area that as recently as ten years ago was written off. Apparently, Cleveland's leaders aren't as backward as some posters here would have a reader believe. And, yes, BTW, I'm sure much of the initiative is driven by the guuuvernmunt - not a dirty word in my book!

You think that I presume a lot? How so?

The initial Euclid Corridor renewal was funded by the county (RTA) and the Medical Mart is being funded by a 0.25% increase ($0.0025 hike per dollar spent) in county sales tax. Other than this, it's a mix of small grants and private and non-profit investment. Of course, local government wants much of this to happen and is taking the initiative to lure business to the area (providing land, abatements, improving infrastructure, etc.). However, much of the money is private or from a non-profit organization. Examples of this include: E. 4th Street, The Power House aquarium, the flats project, the casino project, everything at CCF and UH.

Government isn't a dirty word in my book either. However, I would rather see a symbiotic mix of both public and private dollars. That's essentially what we have here.

[rranger]

Originally Posted by Cleveland_Collector

You think that I presume a lot? How so?

This is how: "I sense that you believe that this development has just been thrown together recently and that the driving force is mostly the government. "

There was nothing in my post that should have led you to that conclusion. I hope that clears things up for you.

[Traveler87]

Originally Posted by Clevelander17

I was more referring to the Medical Mart project.

University Circle is financing it's own mistakes.

Mistakes? Where?

When you have two world renowed medical institutions, all I see is constructions cranes building progress for people from around the world to get world class medical care. A university (Case Western) doing top-notch research to fight diseases.

Negative folks are such a broken record.

[Traveler87]

Originally Posted by rranger

With all due respect, I think you presume a lot, perhaps because the reflexive reaction - based purely on what I've read in other threads - is to assume people think Cleveland is "no where". On the contrary, I live in Boston, and development here has clearly dried up in the past three years - even for projects that were on the docket for years!

I'm astonished that ANY CITY can keep it going through these times. So, I was curious (and still am) as to what the source of the funding was. I guess a lot of the funding comes from activity around Cleveland Clinic and Case Western (at least anecdotally), but I'm not sure.

What's particularly stunning about what I've read is that most of the work is taking place on the Euclid/Carnegie corridor between University Circle and Downtown - an area that as recently as ten years ago was written off. Apparently, Cleveland's leaders aren't as backward as some posters here would have a reader believe. And, yes, BTW, I'm sure much of the initiative is driven by the guuuvernmunt - not a dirty word in my book!

The area you are referring to is Midtown. Yes, there is a lot of development going on there, and in the next few years will only skyrocket with the new Euclid Corridor. But University Circle and Downtown are basically doing their own thing, while with the development in Midtown, will probaly join the two. Downtown is already taking off with The convention center, medical mart, Flats East Bank, and casino.

It is funny. People have no idea about Cleveland, at all! The city offers excellent light and heavy rail. Was the first city to link its international airport to its downtown via rail. One of the best metro park systems in the country, and a national park just a short drive from the CBD.

A huge theatre district. One of North America's best art museums. One of the US's "Top 5" orchestras. The Cleveland Museum of Art recieves an endowment of over $600 million annually. Trust me, people in this city/metro love their cultural institutions.

Cleveland has an unemployment rate at 8.5%, well below the US average. When the med economy is your highest employer, and is building like crazy all over your metro area; all you can do is look up. Case and Cleveland State are doing awesome things. Case with its research, Cleveland State with its law school and urban affairs school. Not to mention CSU is building and expanding like crazy. Cleveland's downtown grew by over 32.2% in the last few years. It already has the second highest downtown population in the Midwest outside of Chicago. And with new developments like 668 Euclid Avenue sold out even before construction ended, that tells me there is a market there for it.

The whole idea of "how the hell can Cleveland do this?" is really getting old. The majority of this country knows jack sh** about Cleveland. Nothing against the OP, your curiousity is good. But Cleveland is by far America's most underrated city right up there with St. Louis.

[lisa12230]

Originally Posted by Traveler87

Mistakes? Where?

When you have two world renowed medical institutions, all I see is constructions cranes building progress for people from around the world to get world class medical care. A university (Case Western) doing top-notch research to fight diseases.

Negative folks are such a broken record.

I agree..I've been seeing a pattern on this forum that really kinda pisses me off....Everytime new projects come up in Cleveland, somebody comes out of the gutter and talk about "well, how can they afford it".....The statement should be is that "How can the city afford NOT to do these projects"......these projects are bringing in a ton of jobs, not to mention what its doing for people like me who are coming BACK to the city, and the people who are interested in the city......So please think about comments like this before you post