East Ohio Gas

New Markets Tax Credit Coalition

Cleveland,
OH
(2013)

East Ohio Gas

Community, Historic Rehabilitation, Housing, Mixed-use, Mixed-use and Commercial, Retail

Finaning for a 350,000 sq. ft. mixed use project with a residential and retail component.

Investment

NMTC Amount: $18,340,000
Total Project Cost: $65,563,485

IMPACT

90 FTE jobs
200 construction jobs
Rehabilitation of a vacant or under-utilized historic structure.
350,000 sq. ft. of real estate

CDEs

Cleveland Development Advisors, Grow America, PNC

Investor

PNC

Project Description

East Ohio Gas (EOG) is a 350,000 sq. ft. mixed use project with a residential and retail component. K & D Group will redevelop the vacant East Ohio Gas building into 223 units of housing, 10,300 sq. ft. of retail space and a parking garage with 550 spaces. The NMTC equity will ensure that 45 of the apartments were brought to the market as affordable units. The project is located in the heart of Cleveland’s “NineTwelve” Redevelopment District, which the City of Cleveland has designated to be of critical importance to the stabilization of the downtown area. The goal of the district is to create a distinct neighborhood within downtown Cleveland that is dynamic and vibrant, creating a new identity for the floundering former financial district.

MAP

Address: 1717 East Nineth Street, Cleveland, OH 44114

Census Tract: 39035107701

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