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Erieview Tower financing done, work starts ASAP

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Closing of financing for the $218 million redevelopment of the 38-story Erieview Tower and Galleria redevelopment in Downtown Cleveland was announced today by two advisors to the project. The momentous occasion signals an immediate start for residential construction, although some of the remaining office tenants in the building told NEOtrans that site-prep work is already underway.

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Ex-Medical Mutual HQ sale amount ‘A great deal’

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Although the buyer of the former Medical Mutual of Ohio headquarters in Downtown Cleveland publicized earlier this month it had closed on its purchase financing, they declined to reveal the transaction amount at that time. But that amount became public when the deed transfer was filed with the Cuyahoga County Fiscal Officer on Christmas Eve.

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Historic Carriage Co. project in Ohio City advances

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A slew of construction permit applications were submitted to the Cleveland Building Department last week for the redevelopment of the former Voss Industries plant, 2168 W. 25th St., in Cleveland’s Ohio City neighborhood. This $63.4 million project along with a planned bus rapid transit corridor on West 25th promises to expand the vibrancy of the Market District farther south.

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Projects OK’d for affordable housing loan, credits

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In Cleveland, one east-side housing development and one west-side development are set to receive 4-percent Low Income Housing Tax Credits (LIHTC) from the Ohio Housing Finance Agency (OHFA). The agency announced that determination yesterday in a spreadsheet posted on its Web site. A third project won a $1.75 million OHFA loan, OHFA said in a written statement released today.

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Downtown Lakewood megaproject gets final OK

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Two panels of elected officials voted simultaneously last night to approve agreements authorizing the Downtown Lakewood development to start as early as Aug. 30, 2025. The $119 million mixed-use project will finally repurpose the former site of the city-owned Lakewood Hospital that closed in 2016 and has sat largely devoid of structures for five years.

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