Eight redevelopment project sites won a total of nearly $18 million from the Ohio Department of Development’s Brownfield Program so the sites can be cleaned up and, in some cases, their existing structures are to be demolished. One of those where demolition is planned is the former Cleveland Thermal steam plant, 2274 Canal Rd., in Downtown Cleveland.
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The decision for Medical Mutual of Ohio to abandon its downtown Cleveland headquarters for suburban Brooklyn was apparently less of a strategic move and more of a matter of which city’s public incentives got used first. And according to a local real estate insider, it was a short-term decision that could end up biting the Fortune 1000 company and downtown in their hind ends in the long term.
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A spokesperson for health insurance industry giant Medical Mutual confirmed that the company’s headquarters will leave downtown Cleveland in 2023. However most of their roughly 1,000 downtown office employees never returned from remote-working during the pandemic, leaving the historic Rose Building at East 9th Street and Prospect Avenue mostly empty over the past two-plus years. Today’s news has led to some wondering if the building could be converted to residential as with other old office buildings downtown.
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