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ODOT Will Close Part of I-490 in Cleveland for 2 Years
By Rich Exner, cleveland.com
Drivers of 39,000 cars and trucks each day are going to have to find new roads to travel around a section of highway south of downtown Cleveland for the next two years.
The Ohio Department of Transportation late next month will close the half-mile stretch of Interstate 490 -- from I-77 east to East 55th Street -- as part of a major reconstruction job to improve traffic between there and University Circle.
When the entire job is completed in about three years, the $220 million Opportunity Corridor will provide a direct link between University Circle and I-77 with a new boulevard interrupted by just a handful of stop lights.
Developer-Builder to Invest $1B in Heartland Opportunity Zones by 2022
By Kim Slowey, Construction Dive
Developer-builder Decennial Group — a joint venture between developers Clayco and Farpoint Development — announced it will invest $1 billion in U.S. heartland opportunity zone development projects, according to a company press release. That investment, according to The Real Deal, should come in the next three years, but the company could sink as much as $20 billion into new projects during the next 10 years.
Opportunity zones are located in economically challenged areas and stand to benefit from investment tax incentives created through President Donald Trump’s tax reform bill. There are 8,700 designated opportunity zones nationwide.
MetroHealth Breaks Ground on New ‘Hospital in a Park’
By Ginger Christ, The Plain Dealer
The MetroHealth System on Monday will break ground on the centerpiece of its $946-million transformation plan, an 11-story 264-bed hospital on its main campus on West 25th Street in Cleveland.
The transformation project kicked off in 2014, and already has included the expansion of the system’s Critical Care Pavilion and the construction of a new parking garage, among other things. Later, a new central utility plant will be built.
Construction of the hospital is expected to be complete in 2022, and the first patients will be seen in early 2023. Once the new hospital is operational, demolition of MetroHealth’s iconic towers will begin.