Tax incentives for $260M downtown Cleveland housing project approved by panel

Cleveland City Council’s Development, Planning and Sustainability Committee signed off on tax incentives and aid for Phase I of a project that “would overhaul the former Huntington Building” and provide affordable housing downtown, reports. Cleveland-based Millenia Housing Development is expected to invest about $263.5 million in Phase I to create more than 850 one- and two-bedroom apartments with rents ranging from $712 to $1,370 per month, according to the article. Phase II “would add another 380 residences,” and bring the total project cost to $450 million. For more, read the full article.

Economic Development, Financial Incentives, State Updates