According to the Cleveland Plain Dealer, nearly $11.7 million out of $36 million worth of historic preservation tax credits from the state will be plowed into nine projects located in Northeastern Ohio. Every Cleveland-based project that was pitched came away with an award. The Dallas-based developer Todd Interests is planning to use $4.2 million in credits to turn the upper floors of the Ohio Bell Building into a Canopy Hotel by Hilton.
A former corporate headquarters and central telephone hub, the building at 750 Huron Road now houses AT&T servers and other equipment on its lower floors. Under Todd’s plans, AT&T would continue to own that space and the 22nd floor through a condominium structure. The developer would acquire the balance of the building, with the goal of starting construction in the spring and opening the hotel by mid-2020.
The 11-story Fidelity Building, often called the Baker Building, in downtown Cleveland is earmarked for a makeover as a hotel. A second, less visible downtown building, on East Sixth Street, also is in play for a hotel. The 11-story Fidelity Building, often called the Baker Building, could be rehabilitated as a hospitality project, with ground-floor retail and restaurant spaces. Bookended by the Leader Building and the under-construction Beacon apartment tower, the Fidelity Building is the missing link in a chain of recent revitalization projects along East Sixth between Euclid and Superior avenues.
Elsewhere in Cleveland, developer Rick Foran secured $1.6 million in credits for his planned $16.1 million revamp of the longtime Astrup Company Building at 2937 W. 25th St., about a mile north of the MetroHealth System’s main hospital campus. The historic complex, where workers once labored over canvas sails for ships and window awnings for downtown buildings, will become a hub for arts, cultural and community-focused tenants. New rental homes, including affordable housing, could rise on adjacent land.
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