Cleveland, OH – In keeping with its mission to foster economic vitality across the region, the Cleveland-Cuyahoga County Port Authority (Port of Cleveland) signed off on resolutions to transform the former downtown May Co. store into a multi-use residential-retail destination, as well financing the mixed-use development project Church + State in Ohio City’s Hingetown neighborhood – totaling $131.5 million in taxable development revenue bonds for both projects.

Full-scale renovations of the 104-year-old May Co. building should start next month, according to Ken Till of Detroit-based Bedrock LLC. The 1.8-acre, 8-story project will feature 309 apartments, 522 parking spaces and 70,000-square feet of commercial space (residents could move-in as soon as June 2020, says Till). The Port board reviewed and approved a resolution authorizing $125 million in taxable development revenue bonds for the May Co. project.

The Church + State development project includes two mixed-use buildings with retail on the ground floor, 161 residential units, 9,500-square feet of public space, a bike garage and subterranean and elevated parking. Getting its name from historic and current Ohio City streets, the project features “the Church,” a five-story building to the east, and “the State,” an 11-story building to the west. The Port board reviewed and approved a resolution authorizing up to $6.5 million in taxable development revenue bonds for the Church + State project.

“The Port is pleased to facilitate financing for projects that are transforming the city of Cleveland and Cuyahoga County,” said William Friedman, CEO and President of the Port of Cleveland. “We are proud to have issued over $4 billion in bond financing for projects that are reshaping where we live, work and play.”

Established in 1993 to promote economic development in Cuyahoga County, the Port’s Development Finance Program has provided $4.1 billion in financing to help transform the region. These projects include Amazon fulfillment centers in Euclid and North Randall, Terminal Tower, the Van Aken District in Shaker Heights, One University Circle, the Cleveland Athletic Club, The Lumen at Playhouse Square and Charter Steel, among many others.