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Cleveland, OH (2019)

Astrup Revitalization

Redevelopment of the historic former Astrup Awning Company Building located at the corner of West 25th Street and Seymour Avenue in the Clark Fulton neighborhood of Cleveland, Ohio into a community focused arts, social service, and maker space.

Investment

  • NMTC Amount: $7,790,000
  • Total Project Cost: $12,416,678

IMPACT

  • 35 FTE jobs
  • 46 construction jobs
  • The Project is projected to help spur over $1 billion of additional private investment into La Villa Hispana from Metro Health and other private developers and community organizations into new affordable housing, parks and green space, a new LEED certifie
  • 79,990 sq. ft. of real estate

Investor

Voices from the Community

[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.

-Rick Foran, Developer, Astrup Awning Renovation Project, Cleveland, Ohio

Project Description

Redevelopment of the historic former Astrup Awning Company Building located at the corner of West 25th Street and Seymour Avenue in the Clark Fulton neighborhood of Cleveland, Ohio, into community-focused art, social service, and maker space. Leases with flexible rates and terms will be offered to the following anticipated tenants:

  • Cleveland Museum of Art: 19,585 sq. ft. (projected to provide programs to 240 students annually);
  • Progressive Arts Alliance: 7,250 sq. ft. (since its founding in 2001, PAA has inspired more than 30,000 students;
  • Boys and Girls Club of Northeast Ohio: 8,055 sq. ft. provides meaningful arts programs and instruction to LIC and public school students;
  • Inlet Dance Theater: 7,500 sq. ft. (rehearsal and performance facility with 4-6 week dance camps for students, offering scholarships for 15 students;
  • Cleveland Rape Crisis Center: 4,100 sq. ft. to provide therapy, advocacy, care coordination services, outreach, and education by adding approximately 30 professional staff to serve at least 250 survivors of rape and sexual abuse;
  • LatinUS: 4,100 sq. ft. to host theater productions exclusively in Spanish to encourage members to become engaged in drama;
  • Collaborative to End Human Trafficking: 3,250 sq. ft. (a collaboration of members with expertise in education, health care, law, and social service to work together to provide a safety net in northeast Ohio for those victimized by this crime;
  • Don Frey Studio: 1,000 sq. ft. (studio for a local modern art painter);
  • The Cleveland Family Center for Missing Children & Adults: 2,500 sq. ft. (founded by the family of Gina DeJesus, a survivor of Ariel Castro’s kidnapping), Cleveland Missing supports and assists families going through kidnapping to provide a support network in the Project area, which is where Ms. DeJesus’ kidnapping occurred.

The project is located in a severely distressed and underserved community, characterized by a poverty rate of 45.5%, a median family income equal to 39.25% of the applicable area median family income, and an unemployment rate of 25.5%, which is 3.07 times the national unemployment rate.

MAP

Address: 2937 West 25th Street, Cleveland, OH 44113

Census Tract: 39035104100

Other Ohio Projects

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Cincinnati, (2020)