The Allium, a mixed-use redevelopment of the former Southland shopping center in suburban Middleburg Heights, was awarded $50 million in financing from the Port of Cleveland (Dimit). CLICK IMAGES TO ENLARGE THEM.
Middleburg Hts, Strongsville, Richmond Hts projects win
For the first time in a while, the Cleveland-Cuyahoga County Port Authority Board of Directors today approved financing for three development projects that didn’t include one in the city of Cleveland. Instead, its aid will support new housing, retail, hospitality and job creation in Middleburg Heights, Strongsville and Richmond Heights.
In Middleburg Heights, the board approved the Port’s facilitation of a capital lease and the issuance of up to $50 million in lease revenue bonds for The Allium, a mixed-use development that supports the city’s long-term vision for the Southland District.
The multi-year redevelopment effort includes new retail and housing, with plans for streetscape improvements, trail connections, sustainable stormwater infrastructure and additional future development. This project marks the first time the Port has helped facilitate a project in the City of Middleburg Heights.
The Allium is expected to include approximately 14,000 square feet of restaurant and retail space and create 66 full-time jobs within three years of completion.
Construction is expected to begin in October 2026 and conclude in July 2028, with stabilized leasing anticipated by the first quarter of 2029. The Port’s capital lease savings to the project is estimated to be approximately $1 million in sales tax savings.
A standard design for a Home2 Suites by Hilton hotel is planned next to SouthPark Mall in Strongsville. This is the chain’s offering on Engle Road in neighboring Middleburg Heights (Hilton).
In Strongsville, the board approved the Port’s entry into a capital lease and the issuance of up to $25 million in lease revenue bonds for a new dual-branded Hampton/Home2Suites hotel near SouthPark Mall. Developed by J-Roc Development, LLC and Spark GHC, the four-story, 132-key hotel will total approximately 73,000 square feet on 1.7 acres.
The project is expected to create approximately 200 construction jobs and generate $9 million in construction payroll. Once complete, the hotel is anticipated to support 25 permanent jobs and approximately $726,000 in annual payroll.
Construction is targeted to begin in October 2026 and conclude in summer 2028. The Port’s capital lease savings to the project is estimated to be approximately $715,600 in sales tax savings.
“Every project we support is ultimately about creating opportunity and strengthening the communities we serve,” said Port of Cleveland President and CEO Jeff Epstein in a written statement.
“Whether that means bringing new businesses and housing to a redevelopment site, preserving affordable housing or helping a community institution continue its work, development finance gives us another way to deliver meaningful local benefits,” he added.
Construction is well underway for the 70-acre Belle Oaks redevelopment of former Richmond Mall in Richmond Heights (Bialosky).
Lastly, the Port’s board also approved up to $20 million in special obligation revenue bonds for Phase 1B of Belle Oaks, the 70-acre redevelopment of the formerly enclosed mall site in Richmond Heights. It’s the third financing package awarded to Belle Oaks this year.
Developed by DealPoint Merrill through Belle Oaks Marketplace, LLC, the larger project will transform the property into a mixed-use neighborhood with 798 market-rate residential units across 13 buildings, approximately 105,000 square feet of restaurant and retail space and a completed 157,000-square-foot Meijer grocery store.
Phase 1B includes Buildings 4, 5, 6 and 7, totaling 270 market-rate residential units, along with the completed Meijer parcel as part of the pledged-revenue structure — a $285 million development.
Across all phases, Belle Oaks is expected to create more than 1,400 construction jobs and approximately 500 permanent jobs in retail, restaurants and other businesses. The development is also expected to bring approximately 1,100 to 1,900 new residents to Richmond Heights once completed and stabilized.
The Cleveland-Cuyahoga County Port Authority’s Development Finance program provides financing assistance to eligible projects through tools including tax-exempt and taxable bonds, capital leases and other financing structures. The program helps organizations access capital while supporting economic development and community investment throughout Northeast Ohio.
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