CRAINSCLEVELAND.COM I JULY 17, 2023
GUS CHAN FOR CRAIN’S CLEVELAND BUSINESS
Cuyahoga County is ahead of other municipalities in spending millions of settlement money. The opioid epidemic still persists, and those on its front lines are focused on finding the best sustainable uses of the finite funding. PAGE 11
Construction costs are cooling GCP nearly doubles
development map
However, higher prices for materials are here to stay BY STAN BULLARD
Midtown, University Circle added to interactive tool
After the tumult that has roiled the building business the past three years, Jason Jones, the Cleveland regional vice president of Turner Construction Co., sees a calming in the market. “It’s nowhere near as crazy as it has been. We’re adapting to a new normal,” he said. Prices “have not gone down, but the market has adjusted,” Jones added. “Concern has shifted from lead times for materials to the amount of labor on the site, especially among specialty contractors, such as steel erectors, concrete contractors, plumbers and electricians. Specialty contractors generally are so busy getting multiple bids it has been challenging. That’s what drives the pricing everyone is looking for.” See CONSTRUCTION on Page 20
BY MICHELLE JARBOE
Workers prepare a waterfront site for apartment construction on Scranton Peninsula earlier this year. | DAN SHINGLER/CRAIN’S CLEVELAND BUSINESS
VOL. 44, NO. 26 l COPYRIGHT 2023 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED
The Greater Cleveland Partnership, which rolled out an interactive map of development in downtown Cleveland last year, is expanding that resource in hopes of showcasing momentum in Midtown, University Circle and portions of the surrounding neighborhoods. The chamber of commerce is nearly doubling the geographic footprint of the tool, which displays recently finished projects, active construction sites and significant plans. The scaled-up version, launched Thursday, July 13, adds 4 square miles and 169 existing buildings or proposals. The new territory mirrors the HealthTech Corridor, a barbell-shaped district that follows Euclid Avenue east
from downtown to University Circle, stretching a few blocks north and south along the way. The western end of the barbell is the Campus District and Asiatown. The eastern end encompasses the city’s educational, medical and arts district , along with parts of Glenville, Fairfax and Little Italy. The idea is to help developers and investors get a bird’s-eye view of activity — and a fuller sense of potential opportunities. “When you’re considering a development project … it’s really good to have a sense of what’s going on around you,” said Baiju Shah, the partnership’s president and CEO. “We think there’s a lot of merit in bringing disparate sources of information together.” See MAP on Page 20
RESTAURANTS Chef Rocco Whalen raises temperatures with new Fahrenheit at 55 Public Square . PAGE 2
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