State Supports 26 Historic Rehabilitation Projects
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For Immediate Release: Contact: Penny Martin at (614) 644-8774 December 12, 2018 [email protected] State Supports 26 Historic Rehabilitation Projects Today, the Ohio Development Services Agency awarded $36,057,985 in Ohio Historic Preservation Tax Credits for the rehabilitation of 28 historic buildings. Together, the projects are expected to leverage approximately $250 million in private investments in 10 communities. The awards include a project in one new community (Medina), bringing the total number of Ohio communities with historic preservation tax credit projects to 68. “Giving these buildings new life preserves Ohio’s past and provides economic opportunity for the future,” said David Goodman, director of the Ohio Development Services Agency. “These buildings are expected to be a catalyst for development in the community.” The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity. Once rehabilitated, they will drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified. The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and if the rehabilitation plans comply with the U.S. Secretary of the Interior’s Standards for Rehabilitation. The Round 21 Ohio Historic Preservation Tax Credit recipients are: CENTRAL REGION 1223 East Main Street (Columbus, Franklin County) Total Project Cost: $1,550,000 Total Tax Credit: $191,000 Address: 1223 East Main Street, Columbus, 43205 The three-story commercial building at the corner of East Main Street and Wilson Avenue served its neighborhood for more than 100 years as a small grocery and convenience store. The upper floors were used as apartments and will be renovated into office space. The first floor will be renovated to house a community co-working space. This project is under common ownership with the projects at 1233 and 1278 East Main Street. 1233 East Main Street (Columbus, Franklin County) Total Project Cost: $675,000 Total Tax Credit: $110,000 Address: 1233 East Main Street, Columbus, 43205 Built around 1907 on Columbus' East Main Street, this brick fourplex has suffered from neglect and failed renovation attempts. Though converted to meeting space on the first floor, the building will be returned to its historic use as four residential units. This project is under common ownership with the projects at 1223 and 1278 East Main Street. 1278 East Main Street (Columbus, Franklin County) Total Project Cost: $420,500 Total Tax Credit: $60,000 Address: 1278 East Main Street, Columbus, 43205 One of the smallest buildings to be awarded tax credits, 1278 East Main Street is located in the Near East Side Historic District. Built as a gas and service station, the vacant building will be rehabilitated to house a coffee shop. This project is under common ownership with the projects at 1223 and 1233 East Main Street. Columbus Electrical Works (Columbus, Franklin County) Total Project Cost: $5,850,000 Total Tax Credit: $250,000 Address: 761-767 North 4th Street, Columbus, 43215 The Columbus Electrical Works building in the Old North Columbus Historic District tells the story of the neighborhood's transition from industrial uses to present-day revitalization. The currently underutilized building will be rehabilitated for use as office space and 10 residential units. East Carbarn – Columbus Electric Trolley Barns (Columbus, Franklin County) Total Project Cost: $1,534,000 Total Tax Credit: $250,000 Address: 1600 Oak Street, Columbus, 43205 Part of the Columbus Electric Trolley Barns complex, the East Carbarn once housed one of Columbus' streetcar maintenance and storage facilities. Abandoned for decades, the building will be rehabilitated as restaurant and commercial space, revitalizing the neighborhood near the Franklin Park Conservatory. Another portion of this complex received a tax credit allocation last round. The Hayden (Columbus, Franklin County) Total Project Cost: $19,419,639 Total Tax Credit: $1,940,000 Address: 16-20 East Broad Street, Columbus, 43215 The Hayden project is composed of two adjacent buildings on East Broad Street across from the Statehouse. 20 East Broad Street dates to 1869 and is one of the oldest buildings remaining on Capitol Square; 16 East Broad Street dates to around 1901. The pair of buildings have suffered from many years of vacancy following use as commercial and office space. After rehabilitation, the buildings will provide office space, reactivating an unused space important to downtown Columbus. NORTHEAST REGION Astrup Company Building (Cleveland, Cuyahoga County) Total Project Cost: $16,158,929 Total Tax Credit: $1,615,000 Address: 2937 West 25th Street, Cleveland, 44113 The Astrup Company Building is a former industrial complex in the Clark-Fulton neighborhood south of downtown Cleveland. The project combines the rehabilitation of the historic complex with construction of new residential buildings on a vacant lot. The historic buildings will be converted for community-focused and arts-based end users, including the Boys and Girls Club, Cleveland Museum of Art, dance, theater, and artist studios. New-construction housing will have dedicated affordable units as well as market-rate units. Belden Seymour (Cleveland, Cuyahoga County) Total Project Cost: $2,221,700 Total Tax Credit: $222,000 Address: 3805 Franklin Boulevard, Cleveland, 44113 Built in 1874 in the Italianate Style, the Belden Seymour house was converted from single-family use to apartments. Now vacant, the building's small apartments will be redeveloped into larger units. The tower, reduced in height during a previous renovation, will be restored to its original height. Cleveland Masonic Temple (Cleveland, Cuyahoga County) Total Project Cost: $14,081,500 Total Tax Credit: $1,400,000 Address: 3615 Euclid Avenue, Cleveland, 44115 The Cleveland Masonic Temple, located in Cleveland's Midtown neighborhood, includes an auditorium space as well as former lodge, banquet and office spaces. Designed in the Romanesque Revival style and constructed in 1918-1920, the building is now underutilized. After rehabilitation, the building will become a concert, performance and events venue. Everett Building (Akron, Summit County) Total Project Cost: $4,710,600 Total Tax Credit: $470,500 Address: 39 East Market Street, Akron, 44308 Located in Akron's Main-Market Historic District, the Everett Building has been vacant since a fire in 2016. Originally built to house a performance hall, the building was later converted for commercial and office use. The rehabilitation project will convert the upper floors into 20 market- rate apartments while the lower level and first floor will house office and commercial spaces. Fidelity Building (Cleveland, Cuyahoga County) Total Project Cost: $17,016,250 Total Tax Credit: $1,675,000 Address: 1900-1940 East 6th Street, Cleveland, 44114 The Fidelity Building is an 11-story office building with first-floor commercial spaces and vacant upper floors. After the rehabilitation, the building will become a new hotel along with retail, restaurant and other commercial space. Located just steps from Public Square at Euclid and 6th, the building will serve both business and leisure travelers to the heart of downtown Cleveland. Levinson Building (Cuyahoga Falls, Summit County) Total Project Cost: $1,351,055 Total Tax Credit: $156,727 Address: 2225, 2231 and 2235 Front Street, Cuyahoga Falls, 44221 Located in the Cuyahoga Falls Downtown Historic District, the Levinson Building has been home to a retail clothing store since its construction in the 1930s. Now vacant, the upper floor will be rehabilitated into apartments while the lower level and street level will have retail and office space. Medina Farmers Exchange (Medina, Medina County) Total Project Cost: $5,524,085 Total Tax Credit: $545,000 Address: 320 South Court Street, Medina, 44256 The Medina Farmers Exchange Co. Building served the agricultural community around Medina until it was vacated a few years ago. The building, more than 100 years old, included warehouse, milling and retail spaces with loading facilities for trucks and railroad cars. The rehabilitation project will convert the building into restaurant and farmers market-style retail spaces along with 33 market-rate apartments on the upper floors. This is the first project in Medina to receive Historic Preservation Tax Credits. Ohio Bell Building (Cleveland, Cuyahoga County) Total Project Cost: $42,365,864 Total Tax Credit: $4,214,509 Address: 750 Huron Road East, Cleveland, 44115 The Ohio Bell Building has served the telecommunications industry since its construction in 1927. The Art Deco building was one of the largest telephone switching stations in the U.S. and offices for the company. The project will rehabilitate floors 9-21 plus some common areas on the lobby level into a hotel. Packard Apartments (Warren, Trumbull County) Total Project Cost: $4,113,900 Total Tax Credit: $675,000 Address: 318 North Park Avenue, Warren, 44481 The Packard Apartments is the third historic preservation project in Warren and the first residential project. Built in 1898, the building was constructed for the Packard brothers who went on to automobile fame. It has been vacant since 2006, and the project will create 17 market-rate apartments just outside of downtown Warren. Rhodes Mansion (Cleveland, Cuyahoga County) Total Project Cost: $13,062,715 Total Tax Credit: $1,373,109 Address: 2905 Franklin Boulevard, Cleveland, 44102 The Rhodes Mansion, constructed in 1874, spent its first 40 years as a residence. However, from 1914 until recently, it was owned and used by Cuyahoga County as offices, a nursing home, and archives storage. Now vacant, the historic home, along with an annex built by the County, will be converted into 33 market-rate apartments. An additional nine townhouse units will be constructed on an adjacent vacant lot.