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.