Tag: Southeast

An immersive sports and entertainment venue is on tap for Downtown Cleveland as the anchor tenant for a major project just north of Rocket Arena.

Cosm, a technology and entertainment company based in California, plans to open the venue at East Fourth Street, Prospect Avenue and Huron Road. The complex will include a planetarium-like dome where patrons can watch live sports and performances, from pro football and mixed martial arts to horse racing and Cirque du Soleil.

Bedrock, the real estate arm of Cleveland Cavaliers owner Dan Gilberts Rock family of companies, and Rock Entertainment Group announced the deal Monday afternoon. Theyre kicking off the development of a roughly 3-acre site theyre calling the Rock Block, where Bedrock also envisions retail, hospitality and parking.

The timeline for starting construction isnt clear yet. However, Bedrock announced a deal with Cosm in Detroit in November and has recently broken ground, with the goal of opening the venue in late 2026.

Cleveland will be Cosms fifth market, after Los Angeles, Dallas, Atlanta and Detroit.

The venue will stream live sports through Cosms partnerships with leagues and major broadcasters, including FOX Sports and ESPN. Cosm also expects to use the domed theater to present films, art and live music.

Outside the theater, Cosms venues each feature a sports bar with large displays and an outdoor viewing space.

Bedrock is working on the project with Rosetti, a Detroit-based architectural firm. Renderings of the venue and the broader Rock Block plans were not available on Monday, but images from Los Angeles and Dallas give an idea of what Clevelanders can expect.

Cleveland has long been recognized as a premier entertainment and sport town with one of the most dedicated fan bases in the country, making it the ideal location for Cosm, Nic Barlage, the CEO of Gilberts Rock Entertainment Group, said in a news release. This groundbreaking, innovative technology represents the future of live sports and attractions and Rock Block, next to Rocket Arena, will be the go-to destination for visitors from the region and beyond to experience it.

Rock Entertainment Group runs Rocket Arena and is responsible for the Cavs, the Cleveland Monsters, the Cleveland Charge G League basketball team and a future WNBA expansion team, which is set to debut in Cleveland in 2028.

Cosm will offer a novel way for Clevelanders to gather for big games, Jeb Terry, the companys president and CEO, said in a news release. He used the term shared reality to describe the viewing experience. This venue will be more than just a destination, he said.

Bedrock bought the Gateway District development site in early 2023 after another developers plans for the land fizzled. Under a prior owner, the property was earmarked for a massive, mixed-use project called NuCLEus, which never got off the ground.

Watch more about the scrapped NuCLEus plans here:

nuCLEus delayed, but not dead developers say

The previous developer, Cleveland-based Stark Enterprises, also saw the potential for bringing sports and entertainment to the block. In 2017, plans for NuCLEus included a nearly 48,000-square-foot venue called Cleveland Live!, designed for watch parties, dining and other gatherings.

A joint venture led by Stark ultimately scrapped its development plans and sold the 3.17-acre property to Bedrock for $26.5 million, according to public records.

The Cosm deal is the first look at what Bedrock is planning for the Rock Block, where the company razed a dilapidated parking garage in late 2023 and is sitting on a sea of surface parking.

The Detroit-based developer has been focused on a massive project just down the hill, on a sweep of riverfront land behind Tower City. Bedrock, one of Downtown’s largest property owners, controls about 35 acres along the Cuyahoga River and has a city-approved master plan for $3.5 billion in development there.

Bedrock forges ahead on Cleveland riverfront

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The company broke ground last year on its first riverfront project a practice facility for the Cavs and a sports medicine hub operated by the Cleveland Clinic. Bedrock plans to hold a topping-off event for that complex, the Cleveland Clinic Global Peak Performance Center, on Tuesday morning. It’s set to open in 2027.

A later phase of the riverfront project could include a 17-story building with a hotel, an entertainment venue, restaurants and retail. A tax credit application filed with the Ohio Department of Development last year says the building will draw on the inspiration, energy and ethos of rock music in Cleveland, Ohio the Rock n Roll capital of the world.

Browns HQ expansion, Cleveland Riverfront are among projects chasing state tax credits

RELATED: Cleveland riverfront is one of the projects chasing state tax credits

Now Bedrock is making big plays in two Downtown locations forging paths down to the waterfront while filling gaps in the heart of the city.

This is a major milestone for our Downtown Gateway District, Mayor Justin Bibb said in a news release. And the arrival of Cosm is a testament to our communitys spirit and resilience. With its engaging technology and diverse programming, Cosm will not only elevate the visitor experience but also strengthen our local economy and community connections. We are proud to partner with Bedrock on this transformative project.

The citys potential role in the project isnt clear yet. Cleveland previously offered tax breaks and other incentives for the NuCLEus deal, which was set to include an office tower, apartments and parking. That proposal also got attention from state lawmakers, leading to the creation of a tax credit program for so-called transformational mixed-use projects.