TIF

Voss factory conversion comes into focus

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Legislation was introduced this week by several Cleveland City Council members to help finance the conversion of the abandoned Voss Industries plant, 2168 W. 25th St., in Cleveland’s Ohio City neighborhood into a mixed-use complex. The projected price tag to carry out the redo is at least $62 million. While the property’s owner and developer MRN Ltd. has been kicking around various ideas for reusing the property for the last couple of years, none of those concepts have advanced as far as this stage of nailing down its financing for a specific program.

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Bridgeworks wins financing, start date

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For more than two years, a planned high-rise at the west end of the Detroit-Superior Bridge in Cleveland’s Ohio City neighborhood has sought public funding to fill a financing gap. After missing out twice on tax credits from a statewide program, the developers looked closer to home and found the resources to start and finish construction. This week, the developers united under Bridgeworks LLC were awarded the final pieces of the fiscal puzzle to the $108 million project, allowing them to start work in June, they said.

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