Sunday, January 29, 2023

Centennial project downtown wins $15m HUD loan

One of downtown Cleveland’s largest buildings and one of its
most difficult office-to-residential conversions is The Centennial
at East 9th Street and Euclid Avenue. Despite and because of it
winning multiple sources of public funding, the redevelopment
project continues to lack a start date (Sandvick).

The Centennial, one of downtown Cleveland’s most complicated, expensive and elusive redevelopment projects, got another sign that it is very much alive by winning a $15 million loan guarantee from the U.S. Department of Housing and Urban Development (HUD). The financial assistance will be provided through HUD’s Section 108 Loan Guarantee Program and will be used to help finance the half-billion-dollar conversion of the former Huntington Building, 925 Euclid Ave., from mostly offices into primarily a residential property.


No comments:

Post a Comment