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Development & Investments

Downtown Cleveland has had over $7.25 billion in development since 2010.

NEW DEVELOPMENT OPPORTUNITIES

The Alliance’s Business Development Center maintains a database of downtown parcels available for development, including walkable infill sites in the heart of the central business district and dynamic waterfront sites along the Cuyahoga River and Lake Erie shoreline. Contact: For information about these sites, contact Michael Deemer, Executive Vice President for Business Development at 216-325-0998 or mdeemer@downtowncleveland.com or fill out our Site Selector Form here.

 
 

HISTORIC DEVELOPMENT

Downtown Cleveland Alliance and our founding neighborhood partners specialize in adaptive re-use, helping to make Cleveland a national leader in historic redevelopment. Business Development Center staff can provide additional information, consultations and technical assistance on the following resources:

 

Downtown Cleveland Pre-Development Fund 
The purpose of the fund is to encourage development by providing a matching fund for feasibility studies. The fund can be used for architectural, feasibility, adaptive reuse, and historic rehabilitation plans.
 
Federal Historic Tax Credits 
A Federal program that helps retain and renovate historic buildings of architectural merit. Developers of income-producing properties are provided with a 20% income tax credit to developers of income producing properties for office buildings, retail establishments, rental apartments, and others. 

Ohio Historic Preservation Tax Credits
The Ohio Historic Preservation Tax Credit program provides a tax credit in order to leverage the private redevelopment of historic buildings. 
 
Conservation Easements 
Conservation easements are voluntary legal agreements between a landowner and a land trust (or other qualified organization) such as the Merrill Linn Land & Waterways Conservancy in which the land owner, not some outside agency, places restrictions on the use of his or her property, in order to protect the natural values of the land. 
 

CURRENT DEVELOPMENT

In 2017, the Alliance set the goal of achieving 20,000 residents by 2020 in order to support existing retail, attract more amenities, and make downtown’s growth more sustainable. We identified 17 previously announced projects that, if completed by 2020, would carry the downtown population to 20,000 residents. With over 1,000 housing units under construction, 392 recently completed and over 2,000 additional housing units planned, Downtown is well on its way to reaching 20,000 residents by the year 2020.

  • Cleveland Athletic Club

    a mixed use renovation of a landmark historic building to include 161 residential units and 10,000 square feet of retail along Historic Euclid Avenue.

  • Harbor Verandas

    16 units of new lakefront housing next to the Rock and Roll Hall of Fame and Museum in North Coast Harbor.

  • Key Tower Plaza renovations

    Since purchasing Key Tower in 2017 and relocating its national headquarters to the building, Millennia Companies continues to make improvements to this iconic property, the tallest in the State of Ohio, creating new gathering places, adding retail and restaurants, investing in hotel improvements, and opening up Downtown’s newest gym and spa.

  • Quicken Loans Arena renovation

    $140 million upgrade to the home of the 2016 NBA Champion Cleveland Cavaliers, financed through a mix private and public resources.

  • The Beacon

    a new 187-unit residential tower atop existing parking garage at 515 Euclid Avenue

  • The Lumen

    mixed use construction in Playhouse Square, the nation’s second largest performing arts center and national leader in arts-oriented development. A new 34 story high rise apartment complex of 318 units, multi-level parking garage and 22,000 square feet of street front retail on Euclid Avenue.

About DCA

​​Downtown Cleveland Alliance is the not-for-profit organization dedicated to building a dynamic downtown. We're committed to making Downtown Cleveland the most compelling place to live, work and play.

Learn More
Get In Touch

DCA Headquarters

1010 Euclid Ave., 3rd Floor

Cleveland, Ohio 44115

216.736.7799dtcle@downtowncleveland.com
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