Residences at 668
Once the largest unoccupied building on Euclid Avenue, Residences at 668 is now home to affordable apartment units as well as office and retail space. The historic redevelopment and adaptive reuse of the former William Taylor and Son department store, built in 1870, was one of the first projects to successfully utilize the Ohio State […]
Avenue District Project
The Avenue District project entailed development of underutilized surface parking lots in downtown Cleveland into an eight-story, new construction, for‑sale housing project with street-level retail as well as for-sale townhome units. CNMIF provided a $2 million loan to this pioneering project’s first phase.
West 25th and Detroit
Construction of mixed-use building with commercial space, parking, grocery store, Eastside School (early childhood education), co-office space and a restaurant.
Menlo Park Academy
Rehabilitation of the vacant Joseph And Feiss Company factory location into a home for Ohio’s only k-8 tuition free community school focused on gifted learners.
800 Superior
Addressing the vacancy issue and related challenges of the NineTwelve District has been recognized by a number of civic and business interests as an important priority. AmTrust Financial Services acquired and redeveloped the nearly-vacant building at 800 Superior Avenue for its operations bringing 1,000 new jobs to downtown Cleveland.
Steelyard Commons
In 2007 First Interstate properties transformed an abandoned steel mill into a regional shopping center with the creation of Steelyard Commons. Phase II(a) will build on the success of the first phase and incorporated an apparel retailer and (70,000 sq. ft.) as well as other complementary retail units.
Hemingway at Richmond
Construction of the new Marcus Thomas headquarters enabled the privately owned local marketing firm to stay in the existing community and expand its workforce.
The Corner Alley
MRN Ltd. undertook the redevelopment of East 4th Street between Euclid and Prospect Avenues. This destination neighborhood is a thriving entertainment and dining area of downtown. The Corner Alley was a $9 million redevelopment that entailed rehabilitation of the first two floors of a historic structure into a 28,000 sq. ft. entertainment/restaurant venue with 15 […]
The Tudor Arms Cleveland Hotel
Transformed a landmark building at the edge of University Circle into a 154-room hotel, with a vintage swimming pool, a wood-paneled lobby and a floor of restored ballrooms and event spaces.
Charter Manufacturing Company, Inc.
Acquisition of equipment and machinery for an owner-occupied steel and iron manufacturing company.
Shoreway Commerce Park
Located four miles from downtown Cleveland, Shoreway Industrial Park turned a partially occupied truck manufacturing site into a logistics and distribution hub for the metro area.
100 Public Square
The project is a collaborative public/private effort to dramatically update the 10-acre Public Square into a catalytic, dynamic, world-class public space in the heart of downtown Cleveland.
University Hospitals Rainbow Center for Women and Children
The UH Rainbow Center for Women & Children, a newly constructed facility of UH Rainbow Babies & Children’s Hospital and UH MacDonald Women’s Hospital, will serve a federally designated medical/dental underserved area. This urban health center houses 46 exam rooms plus group care/community rooms and co-located social services. Patient visits increased by 5% a year.
MAGNET awarded $5 million in New Markets Tax Credits for Midtown headquarters
Cleveland Development Advisors allocated $5 million in federal NMTCs to the Manufacturing Advocacy and Growth Network (MAGNET) for the build-out of the organization’s Midtown headquarters.
East Ohio Gas
Finaning for a 350,000 sq. ft. mixed use project with a residential and retail component.
Cleveland Development Advisors finalizes projects using $20 million in federal tax credits
The Greater Cleveland Food Bank will receive $10 million for the construction of a new 197000-square-foot warehouse and distribution center in Collinwood
Jeff Epstein, MidTown Cleveland, Inc., Cleveland, Ohio
New Markets Tax Credits have been absolutely essential in bringing health care, grocery, office, and economic development projects into our neighborhood in the last decade – projects bringing much needed strength to our community that would not have happened without the NMTC program.
Radhika Reddy, Ariel Ventures, LLC, Cleveland, Ohio
NMTC has helped numerous high impact catalytic projects to happen, which would not be possible without the NMTC.
Glenville Circle North
The first of Mayor Frank Jackson’s Neighborhood Transformation Initiative projects, Glenville Circle North combines small business incubator spaces in collaboration with the City of Cleveland, 63 units of housing, a business accelerator and small market.
Boys Hope Girls Hope
NMTC financing helped create a 11,000 sq. ft. Academy Center for a nonprofit fighting for academic opportunities in underserved communities.
St Martin De Porres
A new school at E. 62nd Street and St., a modern three-story building on a site that once was home to the former Kausek Brothers Department Store.
Ronald McDonald House Cleveland
An $11.2 million, 20,000 sq. ft. expansion of a Ronald McDonald House added 17 new guest rooms to the current 37.
Boys Hope Girls Hope of Northeastern Ohio
The construction ofthe Rajan Academy Center allowing more than 200 Scholars to participate in an empowering home-like education atmosphere.
Arbor Park Place
The $6.2 million revitalization of the Longwood Plaza shopping center in Cleveland, Ohio, of which $1.57 million was made possible by the NMTC program.
Anke Schreiber, Historic Preservation Specialist, LDA Architects Inc., Cleveland, Ohio
The NMTC is an important financing tool to support projects that are generally more difficult to achieve because of budget constraints and their locality. They allow feasibility in neighborhoods that are located in distressed urban and rural communities. The NMTC is a critical source of financing for projects that otherwise would not be economically viable.
Rick Foran, Developer, Astrup Awning Renovation Project, Cleveland, Ohio
[The NMTC] was the difference between making the redevelopment of a blighted neighborhood being reborn and letting it continue to deteriorate. The jobs aspect of the program is a key driver of the success and gaining local support.