Winter Can’t Slow Down Development in the HTC
While it has admittedly been one of the warmer Cleveland winters on record, current developments in the HTC continue to make progress. The framing is up on the Link59 project in Midtown and renovations are underway in the neighboring Phoenix Building. Dealer Tire is putting the finishing touches on its new headquarters and parking garage. Construction continues on Case Western Reserve University’s new Health Education Campus in the middle of the Cleveland Clinic campus. Developers broke ground on the mixed-use Centric project in University Circle that will include 272 apartments and 27k SF of commercial space and site work is now underway. More new housing will soon be available in the HTC with One University Circle adding 270 apartments and the Innerbelt Lofts adding 56 new units.
New Report Provides Insights on Biomedical Growth in Cleveland
A new report from BioEnterprise and Team NEO provides insights into the growth of Cleveland’s biomedical sector. The sector grew 59% between 2000 and 2016 to become a $5.6 billion industry. These gains helped to offset losses in manufacturing during this time. BioEnterprise also reports that the number of biomedical startups in the area receiving venture investments jumped from 34 in 2015 to 46 in 2016. Medical device companies led the way with 45% of capital funding in the region followed by biotech and pharmaceuticals at 29% and health IT at 25%.
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