Cuyahoga County, through its Department of Development, was awarded a $3 million Clean Ohio Revitalization Fund (CORF) grant for a $270 million redevelopment project located in the cities of Cleveland and East Cleveland. The funds will be used for soil remediation, asbestos abatement and demolition activities on a 6.3-acre property, which will facilitate The Medical Center Company’s (MCCo) redevelopment of the site into an advanced energy facility.
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MCCo is a non-profit organization that provides reliable, low-cost energy to key University Circle institutions, such as University Hospitals of Cleveland and Case Western Reserve University. Some of the utilities they provide include; steam, electrical power, compressed air, and chilled water. MCCo projects a 25% increase in energy load demand over the next 15 years as their members continue to grow. This CORF grant will allow them to continue to meet their customers’ needs, retain 30 jobs, and lead to the creation of 10-30 new jobs.
In stark contrast to the bustling University Circle area just one-mile away, our project is along a struggling business corridor and near residential neighborhoods that need new investment and job opportunities. This property was used for a variety of commercial and industrial purposes since the early 1900s and has had seven former owners and more than 30 tenants. The site has been vacant for nearly a decade and building conditions are beyond repair. MCCo purchased a portion of the property in 2006 for $2.1 million dollars and purchased the remaining part of the project area in 2009 for $90,000 dollars. This project leverages the $200 million Euclid Corridor Transportation Project and will increase development along Euclid Avenue.
The Cuyahoga County Department of Development’s mission is to foster strong neighborhoods, provide safe, decent and affordable housing and promote economically sound communities through programs that address issues vital to local business growth and enhanced employment opportunities within Cuyahoga County.