CLEVELAND – March 13, 2025 – Two transformative projects — a nearly $50 million West Side Market overhaul and a $44 million Superior Arts District mixed use project — received significant support today from the Port of Cleveland board of directors.

“These projects will redo two historical properties in our city and we are proud to be able to help make both projects happen,” said J. Stefan Holmes, Port board chair. “The West Side Market is a cherished institution that attracts visitors from around the world, some of them who arrive via cruise ships using our Port. And the textile building project will bring much needed housing and retail space to a growing, vibrant neighborhood.”

Revitalizing the West Side Market

The $49.5 million West Side Market transformation will breathe new life into the 112-year-old landmark. The market’s metamorphosis involves renovation of the Market Hall, adjacent arcades and the basement. The capital lease financing approved by the Port Board allows exemption of state sales and local taxes on construction materials.

Renovations will begin this summer, starting with the East Arcade, a largely vacant produce hall between the parking lot and the main market building. Early improvements will include:

• New HVAC systems and upgraded vendor stalls.
• Basement renovations featuring mechanical upgrades, walk-in coolers, a shared commercial kitchen and a new freight elevator.

Future phases will transform the North Arcade and Courtyard into vibrant destinations with new seating areas, restaurants, event spaces, food stalls, full-service bars and public dining options.

“We have one of the most stunning market structures in the country, and this initiative is focused not only on preserving this vital historic treasure, but also supporting small businesses and having greater community impact,” said Rosemary Mudry, executive director of the Cleveland Public Market Corporation, the non-profit that manages the West Side Market for the City of Cleveland, which owns the property. “We have received tremendous support from many partners and we are immensely grateful to the Port for their assistance in making this great regional asset even better.”

“The West Side Market is a cherished institution that attracts visitors from around the world, including some who arrive via cruise ships using our Port,” said Holmes. “We’re proud to support this vital renovation, which will ensure the Market continues to thrive for generations to come.”

A New Chapter for the Superior Arts District

The Port Board also approved issuing up to $25 million in lease revenue bonds to support TurnDev’s redevelopment of the historic Heller-Keller-Kohn textile buildings at 2202 and 2230 Superior Avenue, converting them from old textile buildings into a mixed-use development. The project will include:

• 100 market-rate apartments.
• 2,261 square feet of street-level retail space.
• 108 climate-controlled parking spaces

The two former industrial buildings housed garment manufacturing operations until the later part of the 20th century. The project is across the street from the CrossCounty Mortgage headquarters, which TurnDev led. TurnDev is renovating Superior Avenue’s historic ArtCraft building into Cleveland’s new police headquarters.

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Since 1993, the Port of Cleveland has provided over $5.4 billion in financing for close to 200 projects across Cuyahoga County and beyond, playing a pivotal role in the region’s economic transformation. The Port’s financing initiatives have consistently catalyzed growth, revitalized communities, and strengthened Northeast Ohio’s economic foundation. As demand for these services continues to rise, the Port remains a driving force behind strategic development that shapes the region’s future.

Holmes added: “The Port is proud to support investments that create jobs, attract residents, and strengthen our neighborhoods.”

Contact: Nancy Lesic, 216.392.9634

CLEVELAND – March 13, 2025 – The Port of Cleveland’s Board of Directors today elected David Wondolowski as the new Chair of the Board, alongside J. Stefan Holmes as Vice Chair and Peggy Zone Fisher as Secretary/Fiscal Officer.

Wondolowski expressed gratitude for the opportunity to lead the Board at such an important time.

“I’m honored to take the helm of this vital organization,” said Wondolowski. “I deeply respect the trust placed in me, and I’m committed to building on the strong foundation laid by my predecessor. The Port plays a crucial role in driving economic growth and connecting our region to the world, and I look forward to working with my colleagues to advance that mission.”

The Board expressed its appreciation to outgoing Chair Holmes for his dedicated service, recognizing his steady leadership and commitment to the Board. His guidance has been instrumental in advancing key initiatives that have strengthened Cleveland’s position as a hub for commerce and development.

CLEVELAND – February 13, 2025 – The Port of Cleveland continues to play a critical role in advancing redevelopment projects across Northeast Ohio, today approving financing, sales tax savings, and PACE bonds to support more than $97 million in transformative projects in Cleveland and Lakewood.

The approved projects include the redevelopment of a historic Ohio City property, the transformation of a former auto dealership in Lakewood, and the construction of a new senior living and library facility on Cleveland’s west side.

Together, these projects will add more than 300 new apartments, including 51 units of affordable senior housing, along with commercial and community spaces.

With this latest action, the Port has now approved more than $850 million in financing assistance since January 2024.

The projects approved today are:

· Barry Buick Redevelopment (Lakewood) – $24.4 Million Lease Revenue Bonds The Port approved $24.4 million in lease revenue bonds to support the redevelopment of the former Barry Buick auto dealership and service center on Detroit Road. The $30.5 million project will feature two four-story mixed-use buildings with 124 apartments and 1,500 square feet of commercial space. Construction is slated to begin in Q1 2025 and finish by Q2 2026. The development is led by NewBrook Partners and The Krueger Group.

· Rauch & Lang Carriage Company (Voss Aerospace Building, Ohio City)– Capital Lease and $8 Million PACE Bond Fund Bonds

The Port is partnering with MRN Ltd subsidiaries to redevelop the historic Voss Aerospace building into Rauch & Lang Carriage Company, a $51.6 million mixed-use project. The Port will provide sales tax savings through a capital lease and issue $8 million in PACE (Property Assessed Clean Energy) bonds for energy efficiency improvements. The project will include 129 apartments, 8,000 square feet of commercial space, 5,000 square feet of retail/restaurant space, and parking for 122 vehicles.

Originally constructed in the 1870s, the building played a key role in Cleveland’s carriage and auto industries before being repurposed for materials handling. Construction is expected to begin in Q1 2025, with completion by end of year 2026. The project is led by MRN’s Jori Maron, a developer with more than 20 years of experience redeveloping historic properties in Cleveland.

· Karam Senior Living & Walz Library (Cleveland’s West Side) – $5 million in lease revenue bonds

The Port is partnering with Northwest Neighborhoods CDC and Salus Development LLC to develop the $21.2 million Karam Senior Living featuring 51 affordable senior apartments and a new branch of the Cleveland Public Library at 7918 Detroit Avenue. The Port is providing a capital lease to provide sales tax savings to the project.

Located at West 80th Street and Detroit Avenue, Karam Senior Living will include a community room, laundry facilities, on-site parking, and a wellness center. Construction is scheduled to begin in Q1 2025, with completion in Q3 2026.

Northwest Neighborhoods, a community development corporation (CDC) is the nonprofit provider of affordable housing and community development services for Cudell, Detroit Shoreway and Edgewater on Cleveland’s west side.

The CDC’s executive director, Bridget Kent Marquez, said, “The Port has been another key partner in the interconnected relationships that are ensuring success for this catalytic project.”

“The Port Authority continues to be a pivotal force in advancing redevelopment across the Cleveland region,” said J. Stefan Holmes, Port Board Chair. “We are proud to support these projects that will transform key sites, create much-needed housing, and enhance our communities.”

Since 1993, the Port of Cleveland has provided over $5.4 billion in financing for close to 200 projects across Cuyahoga County and beyond, playing a pivotal role in the region’s economic transformation. The Port’s financing initiatives have consistently catalyzed growth, revitalized communities, and strengthened Northeast Ohio’s economic foundation. As demand for these services continues to rise, the Port remains a driving force behind strategic development that shapes the region’s future.

In 2024 alone, the Port approved 20 projects totaling $753 million in development financing—making it the second-highest revenue year for development finance in its history. Notably, the Port set a new record for revenue while keeping expenses under budget, reinforcing its commitment to fiscal responsibility and high-impact investments.

CLEVELAND, February 13, 2025 – The Port of Cleveland has approved a $110,000 grant to Argonaut, a nonprofit organization that provides maritime and aviation career training to students at Davis Aerospace and Maritime High School in the Cleveland Metropolitan School District. This hands-on program not only prepares students for future careers in the maritime industry but also enhances critical safety operations on the Cuyahoga River and Lake Erie.

With this funding, Argonaut will continue to increase the of students in its Marine Safety Program, expanding opportunities for Cleveland high school students to gain real-world experience in maritime careers and strengthen their connection to the city’s growing waterfront economy.

The Port’s grant will allow Argonaut to:

· Expand student participation in the Marine Safety Programs

· Strengthen maritime and waterfront education and training programs

· Enhance youth workforce training opportunities in a high-demand industry

· Support ongoing safety operations for Cleveland’s recreational and commercial maritime communities

“We are committed to ensuring that economic development benefits every corner of our community,” said Carl Naso, Port CFO. “Argonaut has been a vital partner in providing hands-on workforce training while also playing a critical role in keeping our waterways safe. This grant allows them to expand their impact, providing more Cleveland students with career opportunities while bolstering safety on the Cuyahoga River and Lake Erie.”

Argonaut’s program gives students real-world experience while contributing to public safety efforts on Cleveland’s waterways. In 2023, Argonaut’s crew:

· Assisted 91 ships navigating Cleveland’s harbor

· Partnered with the U.S. Coast Guard and emergency services on 123 missions

· Led 10 active in-water rescues and assisted with 32 additional rescue operations

Additional Argonaut programs help keep Cleveland’s waterways clean. Students use specially designed tandem vessels, Flotsam and Jetsam, to remove floating debris from the Cuyahoga River and Inner Harbor. Four active Davis students and two Davis graduates manage clean-up

efforts four days a week after school and throughout the summer. They also gain hands-on experience with mechanical, fueling, safety inspections, and vessel operations.

The Port of Cleveland contracts with Argonaut to captain the vessels and work with students.

By combining education, workforce development, and public safety, Argonaut is creating a pipeline of future leaders in Cleveland’s growing waterfront economy.

“The Port’s continued investment in the future of Cleveland’s maritime workforce is invaluable,” said Drew Ferguson, Founder and CEO of Argonaut. “This funding allows us to provide students with immersive, real-world learning experiences while making Cleveland’s waterways cleaner, safer, and more accessible for everyone.”

A number of Argonaut graduates at the Port board meeting told stories about how life-changing the program has been for their career trajectories.

The Port’s Community Investment Fund —made possible by the success of the Port’s development finance program—is funded by 10% of revenues from development finance projects. This ensures that the Port’s economic development efforts create tangible benefits for historically disadvantaged communities by supporting workforce training, economic opportunity, and community improvement initiatives.

Since its launch, the Community Investment Fund has supported a range of impactful projects across Cuyahoga County. With this latest grant, the Port’s total investment in Argonaut now totals $380,000 since 2019, underscoring its long-term commitment to strengthening Cleveland’s workforce, creating educational opportunities for students, and improving quality of life for the region.