Wednesday, December 7, 2022

Four NE Ohio projects win TMUD credits

One of the most significant developments underway in Northeast Ohio
is the Circle Square megaproject between Euclid and Chester avenues
at Stokes Boulevard. At left is Library Lofts. Behind it is The Artisan
apartments, now the tallest building in University Circle. Front and
center is the historic and recently renovated Fenway Manor Apart-
ments. Behind it is a future hotel. The two buildings to the right
are also future projects — an office building in the foreground
with an apartment tower in the background. (Bialosky).

In the first round of Ohio’s Transformational Mixed Use Development (TMUD) tax credit program, more than half of the major-city credits went to Cleveland. Today, more than half of those credits went to just two projects in Columbus. That left enough TMUD credits to benefit two projects in Cleveland — the Erieview redevelopment in downtown Cleveland and the Circle Square megaproject in University Circle. Unfortunately, that also meant that several other projects in Cleveland and Cuyahoga County were left out.


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