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'the beginning of a rust belt rebound?' asks architect's newspaper

“Cleveland, Columbus, and Cincinnati are rebuilding their urban cores to lure and retain young professionals," writes Christopher Bentley of The Architect's Newspaper. "These cities are pursuing development strategies that reflect the distinct character of each place. Is it the beginning of a Rust Belt rebound?”
 
In the article titled "Can the Centers Hold? Cleveland, Columbus, and Cincinnati are rebuilding their urban cores in what could be a sign of a Rust Belt rebound," Bentley expresses concern that redevelopment of urban environments are costly and that steps are being taken to ensure scarce dollars are not being wasted. He notes a consensus among leadership that the last thing anyone wants is a repeat of the boom and bust of the recent past.
  
“Everyone kind of expected in the 1990s that if we build it they will come,” said Greg Ward, vice president of Wells Fargo’s Real Estate Group in Cleveland. “Now there are concerned people in the real estate community saying, ‘How do we make sure we don’t fumble this round of big development?’”
 
Cleveland is trying again this time with the Cleveland Medical Mart & Convention Center as well as the New Horseshoe Casino. Downtown rental housing demand is greater than supply fostering the building or redevelopment of new properties. Additional developments are on the way.
 
Read the full story highlighting Cleveland as well as Ohio’s two other major cities here.

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