Crain's Cleveland Business

Page 1

EACH WEEK DON’T MISS OUT ON CRAIN’S SPECIAL REPORT!

BROUGHT TO YOU BY:

WEEKLY FOCUS: LEGAL AFFAIRS, Page 10 VOL. 40, NO. 41

OCTOBER 14 - 20, 2019

Source Lunch

Akron

David Klotz, Precision Metalforming Association president

Startup aims to bring VR to hospices and senior centers Page 18

The List

Page 22

Private and parochial high schools Page 16 REAL ESTATE

Poor air service hobbles HQ bid

DEVELOPMENT

A long trek to downtown

Connection woes, lack of international flights jeopardize retaining Sherwin-Williams By Stan Bullard sbullard@crain.com @CrainRltyWriter

No matter how local and state officials and site-selection executives may paint over it with fiscal incentives, one of the biggest challenges Northeast Ohio faces in retaining the headquarters of The Sherwin-Williams Co. is the region’s air service. Frank Spano, a 30-year veteran of site selection at The Austin Co., a Mayfield Heights-based global design-build company, said that while multiple factors, from construction costs to recruiting, go into such a decision, assessment of the region’s air facilities will be part of the mix. “Given the acquisitions they have made and their global dominance in their industry, they have to really look at air transportation,” said Spano, managing director of Austin’s site-selection unit, Austin Consulting, in an Oct. 10 phone interview. “They have to look at it as an important consideration, not only to hire people but to get people to their headquarters within a reasonable period of time. Any large company in Cleveland with regional and administrative locations knows this. And I don’t see Hopkins improving service to the corporate community.” SEE AIR SERVICE, PAGE 17

Developer Bo Knez is finishing the last phase of the Avenue Townhomes in downtown Cleveland. (Tim Harrison for Crain’s)

A familiar name in the suburbs, Knez Homes is now building in Cleveland By Stan Bullard sbullard@crain.com @CrainRltyWriter

In the early 2000s, Bob Dyer, then an executive with the former land division of Cleveland-based Forest

Entire contents © 2019 by Crain Communications Inc.

P001_CL_20191014.indd 1

City Realty Trust, now part of Toronto-based Brookfield Asset Management, called on Bo Knez, the founder and owner of Knez Homes of Concord Township. “I thought at the time that he was a successful suburban builder, someone I could do business with,” Dyer, now director of acquisitions at apartment developer-owner Redwood Living of Independence and a land development consultant. “I figured he would continue to grow. Did I think he would become a home builder in the city of Cleveland and downtown? No. They seem to be totally different skill sets. The issues you run into in Cleveland are totally different from the suburbs. I can’t imagine doing both. It says a lot about him as a person and his com-

Bo Knez at a glance Age: 54 Hobbies: Riding Japanese sports bikes First construction job: Laborer Secret sauce: Building houses to Energy Star ratings, other green features Why Knez goes green: “I don’t like waste.” Best advice he ever got: Reducing exposure to land inventory before the housing collapse after hearing housing guru Ivy Zelman speak. Mentor: The late Michael J. DiSanto, a Solon-based residential land developer

pany that they are doing both.” That isn’t the only surprising thing about the reach of Knez Homes. Meet a home builder named Bo, even in Northeast Ohio and with a last name such as Knez, and you might expect him to hail from the South or Southwest — Texas, perhaps. But in the case of Knez Homes of Concord Township, Bo is short for Bojan, and he was born in Yugoslavia. Moreover, this Knez, whose company is building the last phase of the Avenue Townhomes in downtown Cleveland and planning Azure, a huge townhouse-apartment complex overlooking Lake Erie near East 55th Street, hails from the St. ClairSuperior neighborhood northeast of Cleveland State University. SEE KNEZ, PAGE 20

10/11/2019 2:27:57 PM


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.