CLEVELAND--(BUSINESS WIRE)--KJK congratulates Kassouf Development on the successful closing of all financial components for the transformative Erieview Tower and Galleria redevelopment. Located at the corner of East Ninth Street and St. Clair Avenue in downtown Cleveland, the redevelopment will breathe new life into a critical community asset while delivering lasting benefits to the City of Cleveland and the broader region.
As lead counsel for the developer, KJK collaborated closely with TurnDev, which served as Project Manager for the Erieview redevelopment, to successfully navigate the complex legal and financial landscape and bring this project to fruition. KJK would also like to thank the other parties who worked closely on this deal, including Brown Gibbons Lang & Company (BGL), Berardi + Partners LLC, Turner & Townsend, and Novogradac & Company LLP.
A Landmark Redevelopment Project
The Erieview Tower and Galleria master plan envisions a vibrant mixed-use destination, including:
- 227 W-branded by Marriott luxury apartments
- A 210-room W-branded luxury hotel
- A 38th-floor fine-dining restaurant
- A 15,000-square-foot ballroom
- Renovated office spaces across 12 floors, enhanced by world-class amenities
- The connected retail Galleria
This redevelopment aims to create a rare live, work, and play building in downtown Cleveland, where residents, workers, and visitors can enjoy a truly all-encompassing space with access to best-in-class amenities. Listed on the National Register of Historic Places, the Erieview Tower and Galleria complex holds significant historical and cultural value for Cleveland, making its revitalization a key community milestone.
Financing a Complex Vision
The project’s financing structure underscores its complexity and the collaborative nature of public-private partnerships driving its success. Contributions from the Ohio Department of Development, the City of Cleveland, Cleveland-Cuyahoga County Port Authority, Cuyahoga County Land Bank, and other entities demonstrate the shared commitment to this catalytic development.
The funding stack includes a combination of:
- Federal and Ohio historic tax credits
- C-PACE financing
- Ohio Brownfield Remediation Program funds
- City of Cleveland property tax abatements and tax increment financing
- Cleveland-Cuyahoga County Port Authority incentives
- Senior debt through Huntington National Bank
These funding solutions highlight the project’s capacity to generate substantial community returns, both financially and through economic growth, by its expected completion in late 2026.
KJK’s Role in Driving Transformation
KJK is proud to serve as lead counsel to the developer for this transformational project. Our Economic Development & Incentives practice group played a key role in securing critical funding and incentives from the City of Cleveland, the Brownfield Remediation Program, Cuyahoga County, and the Cleveland-Cuyahoga County Port Authority. These efforts have been instrumental in driving this revitalization project, which is expected to create hundreds of jobs, attract new businesses, and enhance the City’s appeal.
“The Erieview Tower redevelopment project is an important step forward for Cleveland, and KJK is proud to have played a role in its progress. We look forward to the next stages and to continuing our efforts to strengthen and grow our community,” said Jon Pinney, KJK Managing Partner.
Next Steps
The Erieview Tower and Galleria redevelopment marks an exciting chapter for Cleveland’s future, as it holds great significance for the community. We are excited to see this vision brought to light by Beyer Blinder Belle (BBB), an international architectural firm, and Rockwell Group, a world-renowned and award-winning design firm, who will spearhead the next stages. KJK is honored to be part of this milestone achievement, reinforcing its commitment to driving meaningful projects that shape the region’s economic landscape.
The developers will begin interviewing for a marketing firm to promote both office and retail spaces.
About KJK
With offices in Cleveland and Columbus, KJK serves companies of all sizes and sectors, including Fortune 500 corporations, nonprofits, mid-market companies, small businesses, start-ups and other entrepreneurs. We are a full-service law firm built for business – and beyond. Our robust practice areas serve clients locally and nationally, with the combined experience of our skilled team of 50+ attorneys. For more information, visit kjk.com.
