Mayor Bibb's bold bet: Turning Cleveland's lakefront into a destination
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As Cleveland Mayor Justin Bibb heads toward a second term without serious opposition, he's doubling down on one of his biggest first-term ambitions: transforming Cleveland's downtown waterfronts into vibrant, connected neighborhoods.
Why it matters: Waterfront cities should make them accessible, Bibb has long argued.
- And he's willing to stake billions on the premise, as the Browns stadium drama has seemingly been resolved.
Catch-up quick: The city began soliciting developers this summer to reimagine up to 50 acres along Lake Erie between West Third and East Ninth streets.
- The bidding process follows more than three years of master planning and public engagement.
Driving the news: The project took yet another step on Monday when Haslam Sports Group and the city of Cleveland reached a $100 million settlement, paving the way for the Browns to build a new, dome stadium in Brook Park in 2029.
- Part of the money will go towards the demolition of the current lakefront stadium as well as future lakefront developments.
The big picture: The lakefront project is part of Bibb's larger "Shore-to-Core-to-Shore" framework, a financing and planning strategy linking the lakefront, downtown core and Cuyahoga Riverfront.
- On the river side, Dan Gilbert's Bedrock is transforming 35 acres along the Cuyahoga into a new mixed-use district that could ultimately feature 2,000 residential units, 12 acres of parkland and 1.4 million square feet of commercial space.
- A new Cavs training facility is under construction as part of the project's first phase and is expected to open in 2027.
Between the lines: Both waterfront projects are financed through the city's downtown tax-increment financing (TIF) district, expected to generate as much as $7.5 billion over 42 years.
- Bibb told Axios that the concurrent developments would not have been possible but for the TIF.
- "It was the catalyst for us to see real construction and real demand," he said.
What's next: Construction on the long-anticipated pedestrian bridge, the so-called North Coast Connector, is expected to begin in 2027, backed by $130 million from the federal government and $20 million from the state.
- Bibb said despite the federal government's clawback of some Department of Transportation grants, he's confident Cleveland's funding is secure.