Van Roy Building

NMTC financing to rehabilitate the 30,000 sq. ft. Van Roy Coffee Company building into office space.

Investment

  • NMTC Amount: $300,000
  • Total Project Cost: $4,041,000

IMPACT

  • 150 FTE jobs
  • 20 construction jobs
  • 30,000 sq. ft. of real estate

Investor

Project Description

CDA provided $300,000 to rehabilitate the 30,000 sq. ft. Van Roy Coffee Company building into office space. The building tenants were socially focused non-profits. Tenants included Recovery Resources, which assists clients with overcoming alcoholism and other addictions, and Spectrum of Support Services, which provides vocational and occupational assistance to people with mental illness. The NMTC subsidy enabled the developer to pass on below-market-rate rents to these non-profit organizations that principally service low-income individuals and low-income community residents.

MAP

Address: 2900 DETROIT Avenue, Cleveland, OH 44113

Census Tract: 39035103602

PDF Profile

Other Ohio Projects

New tax credits are expected to boost the new Ronald McDonald House Charities facility near Dayton Children’s Hospital, CityWide Development Corp. said Tuesday. CityWide announced $13 million in federal NMTCs

Construction of a 40,000 sq. ft. “food campus” consisting of a small-scale food market or free food distribution point, plus a community kitchen, meeting rooms for local nonprofits and an
The redevelopment of the historic Baker Electric Car Building transformed the venerable old-economy icon into a "new economy" efficient, modern incubator and post-incubator space for some of Cleveland’s emerging technology-based

Expansion and renovation of the Ronald McDonald House of Columbus Ohio’s current facility. The new facility will increase capacity by 80 rooms equipping RMHC-CO to serve an additional 2,000 families