Port of Cleveland Approves $68M in Projects to Boost Northeast Ohio Economy
CLEVELAND — The Port of Cleveland has greenlit two major redevelopment initiatives aimed at revitalizing key areas and fueling economic growth in Northeast Ohio.
Highland Hills Office Redevelopment: A New Hub for Medical Innovation
The first project will transform a vacant 127,680-square-foot office building in Highland Hills into a state-of-the-art pathology lab for University Hospitals.
Financed through $60 million in Taxable Lease Revenue Bonds, the development is expected to take 18 months, with completion slated for September 2027. The facility will support cutting-edge medical research and create high-quality jobs in the healthcare sector.
The Marginal: Breathing New Life into Cleveland’s St. Clair-Superior Neighborhood
The second project, dubbed “The Marginal,” will repurpose the former Woodhill Supply building into a vibrant mixed-use space. The 82,470-square-foot property will feature:
- Retail spaces
- A showroom
- Warehouse facilities
- A social club
To jumpstart the development, the Port is providing a $310,000 flexible bridge loan from its Community Investment Fund. The project aims to foster local business growth and community engagement in the historic neighborhood.
A Commitment to Economic Growth
Jeff Epstein, President and CEO of the Port of Cleveland, emphasized the broader impact of these investments:
“These projects reflect our dedication to driving economic progress, creating sustainable jobs, and strengthening our communities. Whether it’s advancing healthcare innovation in Highland Hills or building a dynamic hub in St. Clair-Superior, these developments will leave a lasting mark on Northeast Ohio.”
For more details, visit the Port of Cleveland’s official announcement.
— Reported by Nexio News
