Thread by @GreaterOhio

Two weeks ago, we featured on our #GOPCThread the legacy cities which received the first-ever Transformational Mixed-Use Development Tax Credits, or #TMUD

https://twitter.com/GreaterOhio/status/1501966183658147847

#TMUD provides a tax credit against development costs incurred during the construction of a project that will be a catalyst for future development in its area. Development includes new construction and/or improvement of vacant buildings…

that will have a major economic impact on the site & the surrounding area. This development must be a combination of retail, office, residential, recreation, structured parking, & other similar uses into one mixed-use development. Projects may be either the entire Development or

a phase or contiguous phases within the development. Awardees were designated in two groups, major cities & general. A Major City Project is located either within a major city, as defined in program guidelines, or within a ten-mile radius of the corporate boundary of the city.

This week, we are going to take a look at the five projects that were awarded #TMUD credits in Ohio’s major cities - three in Columbus and two in Cleveland. These projects were awarded credits worth $76,693,955.

First in @DowntownCLE is the CC Superior Holdings project, which is renovating six continuous historic buildings totaling more than 400K sq. ft., transforming vacant, deteriorating buildings into restaurant, retail, office & residential space neo-trans.blogspot.com/2020/01/up-to-…

The Centennial - a historic building designed by the same firm the designed the Terminal Tower & features a rooftop ticket lobby + waiting room designed for dirigible flights to New York & Chicago (which sadly was never utilized due to Lake Erie winds) en.wikipedia.org/wiki/The_925_B…

Upon completion, The Centennial will house 864 affordable housing units w/ boutique hotel suites on several floors. The ground floor will house a restaurant, event space, & a museum, The Cleveland Exposition, a tribute to northeast Ohio’s rich history. crainscleveland.com/real-estate/ce…

Connect Housing Block will redevelop a site on approximately 27 acres in the Linden n'hood of @ColumbusGov, which has been vacant since '08. Phase one of the project will rehab the existing spaces into a manufacturing site for modular residential units. dispatch.com/story/business…

This should to produce approximately 1,500 affordable units per year. Additional phases will construct residential apartment buildings w/ the modular units & a clubhouse/community center that will host community services related to education & healthcare. dispatch.com/story/business…

The project will focus on transportation, broadband, access to healthcare, & access to affordable + workforce housing for site residents & the surrounding area.

Also in Columbus on a former brownfield site in West Franklinton, the @CoverMyMeds Campus consists of two headquarters buildings that will house more than 1,600 employees.

The multi-purpose site will also host on-site trails, plazas, recreation/event spaces, bball courts, an amphitheater, a boathouse, EV charging stations, community gardens, & improved river access that will be accessible to residents of @FtonDevelopment
dispatch.com/story/business…

A free art gallery and coffee shop will also be available to the public during business hours.

The second phase of the Gravity II development also in Franklinton was the final major city project awarded a TMUD credit. The mixed-use project, when completed, will include a 12-story, 257-unit residential apartment with ground-floor commercial space

dispatch.com/story/business…

Also included is a 5-story, 24-unit townhome building, the six-story Creative Office Building featuring ground-floor retail, art, & recreation spaces, as well as a new business incubation space for nonprofit social innovators.

Each of these projects promises to truly be transformative for the communities where they are located. We extend our most sincere congrats to all of the #TMUD recipients

Follow @OhioDevelopment for more info on the next round of #TMUD credits