The last few months in Cleveland and Northeast Ohio have been a whirlwind. Perhaps the biggest takeaway from this influx of regional and national attention is that Cleveland is a destination. Cleveland (together with Akron) just hosted the Gay Games, which is an international event, and previously we hosted the National Senior Games – another major event. There is much more to come, including the 2016 Republican National Convention (RNC).Details are scarce at this point, but we have already had preliminary discussions with the Greater Cleveland Partnership (GCP) about what our members can begin to expect for the RNC. Here is what we know now: Buildings near the official convention site (Quicken Loans Arena) can expect to begin fielding inquiries from entities interested in renting out space for potential special events (cocktail receptions, breakfast/lunch/dinner for dignitaries, temporary office space, etc...).BOMA and the GCP will be having ongoing discussions to iron out logistical information and potential ways for our members to highlight their first-class facilities. We will certainly be providing more information as it becomes available. Contact Scott or Janice if you have any questions about the 2016 RNC.A major benefactor from these special events heading to Cleveland has been the philanthropic boost that the Group Plan has seen for their plans to give Public Square downtown a complete makeover. The Cleveland Foundation contributed $8 million and the Gund Foundation contributed $5 million to the proposed $30 million project. Construction could begin as soon as this fall and the slated completion date is mid-2016.There also continues to be a trend of developers announcing the conversion of office space to apartments. This is primarily happening downtown, but there have been examples of this happening in the Detroit-Shoreway and Ohio City neighborhoods on the near west side. Some of the most recently announced downtown projects have involved landmark properties like the Standard, Leader, and Garfield buildings. Most recently completed is the Residences at 1717, which just welcomed its first residents in the former East Ohio Gas Building at East 9th & Superior Avenue.Cleveland Mayor Frank Jackson has made two prominent appointments in the past month. Freddy Collier, Jr. was named Planning Director. Director Collier has said he would like to place an emphasis on improving public health through parks and bike trails – focusing on economically challenged areas in Cleveland. Ed Rybka was named the Chief of Regional Development, which oversees many entities, including the airport and economic development. One of the main projects he will undertake is the redevelopment of city-owned lakefront property.In federal news, the United States Senate approved an extension of the Terrorism Risk Insurance Act (TRIA), which is scheduled to expire at the end of the year. BOMA International supports extending the TRIA, which ensures commercial office buildings have access to this crucial insurance. If commercial office buildings were to lose their terrorism risk insurance they could potentially default on existing loans and find themselves unable to finance any new projects. Now the United State House must act on the proposed TRIA extension.
