The Cleveland Cavaliers entered the offseason without a whole lot wiggle room in terms of their financial situation. If they were going to legitimately improve, they were going to have to get creative.

That’s why it is not at all surprising to see the Cavaliers essentially sitting on the sidelines in the early stages of NBA free agency.

The free-agent period kicked off Sunday evening, and Cleveland has been relatively silent. There were some Cavs rumors, but nothing all that concrete. Instead, the Cavaliers have watched as some of their top Eastern Conference competitors have added key pieces.

But should Cleveland fans panic? Not really.

Again, this was expected. The Cavs have very little money to give to free agents, and they are understandably more concerned about extending Donovan Mitchell than they are about signing other players.

That isn’t to say that the Cavaliers should stand pat entirely. They do need to make a move or two, whether that comes via trade, a shrewd free-agent signing, or both.

The New York Knicks traded for Mikal Bridges. The Philadelphia 76ers signed Paul George. The Orlando Magic landed Kentavious Caldwell-Pope.

These are the teams Cleveland is competing with in the Eastern Conference, and they are all getting better.

The Cavs won 48 games and finished with the No. 4 seed in the East this past season. They were able to best the Magic in a tight seven-game series in the first round before losing to the Boston Celtics in five games. No one is expecting the Cavaliers to beat the Celtics next year, but Orlando was right there with Cleveland this past season.

Now, the Cavs have to worry about a young, upstart team like the Magic potentially surpassing them (remember: Orlando just finished one game behind the Cavaliers in the standings). But unlike the Cavaliers, the Magic actually had the cap space to make a significant addition. So did the 76ers.

The Knicks, on the other hand, did what Cleveland should be doing: they got innovative. New York had to worry about re-signing OG Anunoby (which it did) and still has to concern itself with retaining Isaiah Hartenstein. But that did not stop the Knicks from swinging a major trade for Bridges.

Of course, the question is, what can the Cavs really do? They don’t really have a treasure trove of assets, and any truly groundbreaking trade they could make would probably involve moving one of their big four, which they do not want to do.

Not only that, but Brandon Ingram—who has been mentioned as a potential trade target for the Cavaliers—is entering the last year of his deal and wants a max contract. Cleveland is reluctant to give that to him, which could mean the New Orleans Pelicans will end up sending Ingram elsewhere (and the Sacramento Kings are evidently interested).

The Cavaliers are caught between a rock and a hard place at the moment. They obviously want to make some changes in order to better position themselves for a deeper playoff run next spring, but they don’t want to break up their core. Plus, Isaac Okoro is a restricted free agent. Yes, Cleveland can match any offer, but that’s just money the Cavs will have to spend to keep one of their own guys.

We knew it wasn’t going to be easy for the Cavaliers this summer. It may really just be about maintaining more than anything else. Perhaps the best thing Cleveland can hope for is the improvement of young players like Evan Mobley and Darius Garland.

There are certainly still some low-cost options out there. Cleveland has already been urged to pursue Indiana Pacers free agent Jalen Smith, for example. But there is no doubt that the free-agent pool is starting to run a bit dry, and it wasn’t all that rich to begin with.

We’ll see what the Cavs have up their sleeves

Prospect Avenue downtown is about to seem a little less quiet.

On Wednesday, K&D Development, the owners of the property once home to the United Church of Christ, announced that they received a $4 million Ohio State Historic Preservation Tax Credit. That money will cap off K&D’s fundraising push for what’s a $46 million conversion from offices into apartments. It was one of 11 Northeast Ohio projects that received awards this week.

The reactivation of the Electric Building will bring some 120 apartments into the eight-story building, previously home to a collection of office spaces. Construction is slated to begin in October.

That $4 million, K&D spokesperson Aaron Price told Scene, should allow the Residences to keep its rents at so-called market-rate. Namely, one-beds and studios starting at $1,200 and “focused on downtown workers.”

Such a tax credit “allows us to get the price down a lot,” Price said Wednesday. “We’re not really doing anything that’s like ultra luxury, so that’s cool.”

The Residences’ greenlight, as Price framed it, will help to activate a street in Cleveland’s Gateway District that’s had its highs and lows over the past half decade.

In October of 2021, the Winking Lizard’s Gateway spot shuttered, citing pandemic-era staffing issues and unsuitable rents; in late 2023, the Fitworks gym across the way went. And the May Co. Building down the block has struggled to fill its ground-floor retail since its rehab wrapped up in 2020.

Last summer, Geraci’s Restaurant opened up a throwback Slice Shop across the street, with great fanfare and nighttime hours, though hours have turned sporadic this year.

The 124-year-old Electric Building, recognizable for its fiery-red brick facade and tall dark windows overlooking the sidewalk, will also be host to, Price confirmed, an “elevated sports bar concept” that K&D and broker CBRE will wrap up with a deal in mid-July. Price hinted the restaurant is a “national chain” that “will make downtowners happy.” (And “not another BW3,” he joked.)

Despite relatively rough economic headwinds, Downtown Cleveland has seen its share of developmental triumphs in the past two, three years.

The Residences at 700 will join surrounding complexes turning vacant or unused century-old buildings into white-walled towers touting city living—from the City Club Apartments off Euclid Avenue, to the Ten60 Bolivar near Progressive Field, The Bell in the idled Cleveland One Center and hundreds of new units (mostly for theater workers) at the Bulkley Building in Playhouse Square.

And just on Tuesday, the idling Rose Building, once home to Medical Mutual, was put on the conversion train as well. Developers Spark GHC announced their intentions to rehab one of Downtown’s first office buildings into a mixed-use complex of apartments, hotel rooms and a long-awaited retail space.

The Residences at 700, Price said, will see its first tenants move in next spring.

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Mary E. (nee Ceboll) Code, 78, of Mentor, passed away Wednesday, June 26, 2024, at David Simpson Hospice House in Cleveland. Born Dec. 11, 1945, in Cleveland, Mary was a lifelong Lake County resident. Mary loved to work in her craft room, making beautiful greeting cards for family and friends. But her favorite hobby was spoiling her 7 grandchildren. Mary loved to shop, including annual shopping trips to Brown County, Ind. She was the owner of an impressive shoe collection. Given the nickname “Lola” by her husband Tim, he would often say, “whatever Lola wants…Lola gets.” She was the beloved wife of Timothy Code; loving mother of Matthew (Tricia) Code, Heather (Steve) Carter and Sara (William) Bitzer; cherished grandmother of Emily (Jeff) Farkas, Erin Carter, Noel Carter, Grace Bitzer, Timothy Bitzer, Madison Code and Meghan Carter; sister of David Ceboll; aunt of Denise Collins; and sister-in-law of Connie Code. Mary is preceded in death by her parents, Elmer H. and Lillian (nee Hayden) Ceboll; and sister, Shirley Pritts. Family will receive friends from 4 to 8 p.m. Monday, July 1, at the Abbey of Willoughby, 38011 Euclid Ave. (located on the grounds of McMahon-Coyne-Vitantonio Funeral Home), in Willoughby, where a Funeral Service will take place at 11 a.m. Tuesday, July 2. To leave condolences for the family or to order flowers, visit www.MCVfuneralhomes.com.