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11/11/2011
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$2.00/NOVEMBER 14 - 20, 2011
VOL. 32, NO. 1
NEAR A BOTTOM? Rising home sales suggest modest market rebound, yielding hope for real estate stakeholders By STAN BULLARD sbullard@crain.com
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achel Torchia, owner of Gateway Title Agency, said November “is usually one of the deadest months” at her Brecksville company, which handles residential real estate title transfers. That’s because the approach of winter
and the looming holiday season take many prospective buyers’ minds off the housing market. This year is different. “So far it’s better than the last couple of years, except when we had the federal (new home buyer) tax credit,” Mrs. Torchia said. “That kept See HOUSING Page 37
Chamber groups ready to revive reform agenda Changes in collective bargaining and education still sought after SB 5 rebuke By JAY MILLER jmiller@crain.com
The voter rejection of state Issue 2 was a big disappointment for the state’s major business groups. But they already are planning on which measures they will be pushing in the months ahead as the Republicandominated Legislature regroups. Education reform is likely to be at
the top of the list. “Our greatest priority still is teacher seniority and teacher accountability measures that we think are absolutely critical for the Cleveland school system and other school systems,” Joe Roman, president of Greater Cleveland Partnership, said. “We were involved in (those issues) before they turned into Senate Bill 5 and See REFORM Page 37
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City to make splash with lakefront development plan By JAY MILLER jmiller@crain.com
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Finally. The city of Cleveland will roll out today, Nov. 14, a sweeping downtown waterfront plan that Mayor Frank Jackson believes will alter the way people think about the city. The highlight of the Consolidated Downtown Waterfront Plan, as it’s called, is a new, $50 million allweather pedestrian bridge to link downtown to the Lake Erie waterfront. The city already has applied for federal grant money to help build the bridge. The city also has plugged in a
spot for a waterfront hotel that, because of the new bridge, could serve visitors to the new convention center and medical merchandise mart. It could take 20 years or more to flesh out what basically is a broad concept for future development along nearly three miles of Lake Erie waterfront. Waterfront development has been anticipated for years, at least since Mayor Jane Campbell’s 2004 lakefront plan whetted the appetite of citizens for access to the water. But the city sees the overall design and legislation it is presenting today to Cleveland City Council as creating See LAKE Page 7
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