Cleveland – October 10, 2024— The Port board today approved issuing up to $15 million in taxable bonds for financing of the $25.6 million Taylor Tudor Plaza Project, part of the first phase of a larger $150 million mixed use neighborhood revitalization of the Taylor Road neighborhood in Cleveland Heights.

The Taylor Tudor project is the cornerstone of the Cain Park Village revitalization project. It will redevelop three three-story city-owned vacant historic buildings into 44 apartments, including eight live/work units, amenities including fitness and office space and 11,000 square feet of street level commercial suites.

The Taylor Tudors were built between 1927 and 1929. An Ohio Historic Preservation Tax Credit was granted to the development in 2023.

Work on the project is expected to start by the end of 2024, with the completion planned by the second quarter of 2026.

The Taylor Road project is being planned by WXZ, a Fairview Park based family-owned real estate developer who was selected by the City of Cleveland Heights to develop the properties.

In other business, the board approved a plan under which the Port becomes owner of the Gateway East parking garage and leases it to the Guardians, allowing the team to take over garage operations from the City of Cleveland. The City of Cleveland approved the sale earlier this year. The Port will receive $35,000 per year in fees to facilitate the arrangement between the City and Guardians.

CLEVELAND, September 12, 2024 – In a major step toward decarbonizing the port, modernizing its facilities and enhancing its operational capabilities, the Port of Cleveland has approved $2.9 million to hire The Whiting-Turner Contracting Company as the construction manager for an important upgrade at its 49-year-old General Cargo Terminal. This project will rehabilitate a key warehouse and enhance the terminal’s electrical infrastructure as a first step for decarbonization, ensuring the port remains competitive and sustainable for decades to come.

Whiting-Turner, a national construction management firm with a local office in Cleveland, was selected through a competitive public process. The company will partner with The AKA Team, a Cleveland-based minority construction management firm, which will handle 30% or more of the contract. This collaboration reflects the Port’s commitment to diversity and inclusion in its major projects.

The modernization efforts will include:

• The Rehabilitation of Warehouse A: A comprehensive overhaul of the terminal’s largest warehouse, including structural steel repairs, installation of a new overhead crane, window replacements, a new concrete slab, updated lighting, and a new roof. Built in 1975, Warehouse A requires significant updates to accommodate evolving technologies critical to the Port’s operations.
• Electrification: Bring in new medium/high voltage Cleveland Public Power (CPP) feed to Warehouse A to establish the Terminal’s electric distribution hub. This new electric distribution hub will support future electrification efforts, including cargo handling equipment, charging stations, switching locomotives, powering ships at dock, mobile harbor cranes, and potential solar arrays on warehouse roofs.
• Enhanced Stormwater Management: Installation of stormwater collection and treatment infrastructure to ensure clean discharge into Lake Erie. This effort will build resilience against climate change impacts, such as increased storm intensity and heavy rainfall.
• West 3rd Lot Cargo Movement Efficiency Improvements: Demolish existing cargo handling equipment maintenance facility and hiring hall building and reconstruct as annexed wings off Warehouse A.

Whiting-Turner brings extensive experience managing public and private industrial, warehouse, and electrical infrastructure projects with state and federal funding. As a Construction Manager at Risk

(CMAR), Whiting-Turner is engaged from the design phase to provide pre-construction input, manage all construction contracts, and ensure the project stays within the guaranteed maximum price.

When completed, the work involved will ensure ongoing efficiency of Port facilities and prepare the Port for upcoming electrification efforts.

The modernization project is funded through two major grants:

• $27.2 million from the U.S. Department of Transportation Maritime Administration’s Port Infrastructure Development Program to improve safety, efficiency and reliability of movement in and around the Port.
• $4.9 million from the Ohio Department of Transportation’s Maritime Assistance Program for projects enhancing efficiency and capacity of cargo terminal operations.

William Friedman, President and CEO of the Port of Cleveland, underscored the importance of this investment.

“Hiring a Construction Manager at Risk makes good business and economic sense,” he said. “Whiting-Turner is highly qualified and will ensure these projects stay on track and within budget. We are committed to safeguarding taxpayer investments and keeping the Port operational for the future.”

This initiative is part of a broader $93.8 million investment in Port infrastructure since 2015, with over 75% of funding provided by state and federal grants. The upgrades align with the Port’s recently implemented Climate Action Plan, which aims to achieve net-zero greenhouse gas emissions by 2050, making Cleveland the first Great Lakes port to adopt such an ambitious environmental goal.

Cleveland – September 12, 2024—The Port of Cleveland’s board of directors has approved $170 million in bond financing to fuel a series of high-impact projects, including a major manufacturing expansion, the revitalization lanSeptd that contained a former Veterans Administration facility, and refunding bonds for a 501c3 school. These investments underscore the Port’s pivotal role in driving economic growth, facilitating access to the tax-exempt bond market, and supporting cultural institutions across the region utilizing its credit enhanced bond fund program.

Since June alone, the Port has approved more than $311 million in bond financing, reflecting the significant demand for its services and the vital role it plays in supporting regional development.

“These projects, coupled with others approved by the Port board in recent months, show just how crucial this agency’s support is for economic development and community growth,” said Rhonda Winslow, Vice President of Development Finance.

The projects approved today include:

Momentive Technologies Expansion: Up to $50 million in lease revenue bonds were approved for the $40.2 million expansion of Momentive Technologies’ High Quality Quartz production facility in Richmond Heights. This project, critical to industries ranging from semiconductors to aerospace, will see a significant upgrade with new furnace equipment and a reconfigured, modernized manufacturing process. The expansion, covering 18,000 square feet on a 26-acre site, is expected to be completed over five years, and adding 14 skilled jobs to this global company that has approximately 850 employees.

Valor Acres Redevelopment: The first phase of Valor Acres in Brecksville being developed by the DiGeronimo Companies, will receive approximately $93 million in lease revenue bonds. This ambitious mixed-use development, on the former Louis Stokes Cleveland Veterans Administration Medical Center site, will include residential units, retail space, and office buildings, with 292 permanent jobs expected upon completion.

The first phase include five buildings with a total project cost of about $128 million on about 23.75 acres at the intersection of Brecksville and Miller Road. The development will comprise about 221,204 square feet, with a total of 221 residential units, 70,000 square feet of retail space and 146,000 square feet of office space. About 292 permanent jobs are expected to be created on completion of this phase.

Constellation Schools Renovation: The board approved up to $35 million in tax-exempt bonds to refinance bonds issued 10 years ago, with a small portion allocated for upgrading facilities. This funding will support the purchase and renovation of seven school buildings in Cleveland and Parma, benefiting over 4,400 students and 550 employees across more than 20 schools managed by Constellation Schools LLC. Renovations will improve the educational environments to support students’ success in Northeast Ohio. The work will take place at several schools in Cleveland and Cuyahoga County.

Toledo Museum of Art Energy Efficiency Upgrades: The board approved $7 million in tax-exempt Property Assessed Clean Energy (PACE) revenue bonds to support the Toledo Museum of Art’s energy efficiency and alternative energy improvements. This project spearheaded by the Toledo-Lucas County Port Authority with partnership by the Columbus-Franklin County Finance Authority and Cleveland-Cuyahoga County Port Authority addresses critical HVAC issues and enhances the museum’s infrastructure, ensuring its sustainability and continued cultural contributions

Replacing the HVAC will cost about $18.25 million, with an additional $1.75 million of improvements needed for the museum’s building envelope, which is the building enclosure between the conditioned and unconditioned environment of a building, including the resistance to air, water, heat and light.

“The Toledo-Lucas County Port Authority has been actively involved in collaborative funding efforts, alongside partners at the Port of Cleveland and the Columbus-Franklin County Finance Authority, to support large-scale projects such as this energy efficiency improvement project for the Toledo Museum of Art,” said Thomas J. Winston, president and CEO of the Toledo-Lucas County Port Authority. “This collaboration illustrates how Ohio port authorities contribute to sustainable development by improving energy efficiency and supporting economic growth through shared resources.”

J. Stefan Holmes, chairman of the Port board, said “The depth of these projects, coupled with others before the board in recent months, show just how much the Port can do to help economic growth and development in Greater Cleveland.”

Since 1993, the Port of Cleveland has provided more than $5 billion to more than 160 projects in Cuyahoga County and beyond. Since its inception, the Port’s financing initiatives have been instrumental in transforming Cuyahoga County and beyond, demonstrating a consistent commitment to the region’s growth and prosperity. As demand for these services continues to rise, the Port remains at the forefront, driving the development that shapes the future of Northeast Ohio.

Cleveland – August 20, 2024 —

In 2025, the Port of Cleveland will welcome the return of Victory Cruise Lines to the Great Lakes and Cleveland.

The Port of Cleveland first began welcoming cruise ships to its docks in 2017.  Since then, each year, cruise season in the Great Lakes begins in late May and lasts through mid-September.

In 2024, the Port of Cleveland welcomed just over 20 cruise ships to its dock. However, in 2025 that will change thanks to the return of Victory Cruise Lines.

“This is very good news for Cleveland and the Great Lakes and shows that interest in cruising on Great Lakes is strong,” said Dave Gutheil, chief commercial officer for the Port of Cleveland.  “Cleveland is one of the most popular stops on the itineraries.”

After a 1-year hiatus, Victory Cruise Lines will soon return to the Great Lakes and Cleveland with more than 30 calls already scheduled. The cruise line will return to the waters with two vessels, Victory I and Victory II, both of which have sailed the Great Lakes for nearly a decade.

In 2019, both ships were purchased by American Queen Steamboat Co., later known as American Queen Voyages. In early 2024, the company declared bankruptcy and put several of its vessels up for sale. Former American Queen Steamboat Co. owner, John Waggoner, bought the two vessels with plans to reintroduce the vessels in 2025.

“As long-time enthusiasts of maritime adventures, my wife Claudette and I are thrilled for the team to open reservations for the inaugural season as we prepare to sail these magnificent waters,” said Waggoner.

The two vessels, with a passenger capacity of approximately 190 people each, explore all five of the Great Lakes making stops in Chicago, Mackinac Island, Sault Ste. Marie, Toronto and more. The cruise line is currently booking trips for 2025 and beyond.

For more information on vessel arrivals in Cleveland, click here.