Additional $17.5 Million Awarded for Historic Preservation
COLUMBUS – The Ohio Department of Development today awarded $17.5 million to rehabilitate and restore eight historic buildings, expected to leverage approximately $118 million in private investment.
The awards, part of the Ohio Historic Preservation Tax Credit Program (OHPTC), are in addition to the $64.1 million awarded through Round 29 of the program, announced in December 2022. Today’s announcement brings Round 29 totals to $81,693,579 tax credits, and 60 projects in 21 communities.
Fairfield Shoe Factory (Lancaster, Fairfield)
Total Project Cost: $20,305,200
Total Tax Credit: $3,250,000
Address: 219 N. Columbus St.
Vacant for the last 19 years, the Fairfield Shoe Factory has largely fallen into disrepair. Located on the edge of Lancaster’s historic downtown, the building was part of the shoe manufacturing industry in Lancaster since around 1900 and later utilized to make auto parts. The rehabilitation project will restore the three-story building and create 60 studio, one- and two-bedroom apartments on the upper floors and commercial, retail, and short-term rental units on the first floor.
McKinley School (Cleveland, Cuyahoga)
Total Project Cost: $12,279,022
Total Tax Credit: $1,200,000
Address: 3349 W. 125th St.
Constructed in 1921, the McKinley school is an example of Jacobethan style fireproof school architecture by Cleveland architects Fulton, Taylor, and Cahill. The site will be rehabilitated to serve as its original use, updating classrooms, gymnasium, auditorium, and commercial space to house a dual-language immersion charter school, GALA.
Taylor Tudors (Cleveland Heights, Cuyahoga)
Total Project Cost: $36,994,890
Total Tax Credit: $5,955,232
Address: 1900-1910, 1912-1926, & 1932-1946 S. Taylor Rd.
Originally constructed between 1927 and 1929, these three identical three-story Tudor Revival buildings will be rehabilitated for their historic uses: retail and apartments. The buildings, located on a commercial thoroughfare in Cleveland Heights, is part of a 6.92-acre development known as Stadium Square Historic District. After rehabilitation, the buildings will house street level retail and 44 apartments on the upper floors.
Lostro Building (Athens, Athens)
Total Project Cost: $10,000,000
Total Tax Credit: $1,950,000
Address: 63 S. Court St.
Designed by architect Frank Packard, this property was constructed in 1915 for retail, service, and storage of automobiles by the Lostro Automotive Company. The 24,000 sq. ft. building is located on a prominent corner connecting uptown Athens with Ohio University. The building will be rehabilitated to house 21 extended stay units on the second and third floors with commercial space on the ground floor.
Commodore Apartments (Dayton, Montgomery)
Total Project Cost: $7,394,600
Total Tax Credit: $735,500
Address: 522 Grand Ave. W.
This 10-story apartment building originally opened in 1924 and housed residents of the Steele Hill/Grafton Hill Historic District. The building served as an apartment building through 2018 when it was vacated. The project will be rehabilitated to once again serve as apartments, housing 43 market rate studio and one-bedroom residential units.
Edward Wren Building (Springfield, Clark)
Total Project Cost: $31,750,000
Total Tax Credit: $4,470,000
Address: 31 E. High St.
Located in the heart of downtown Springfield, the Edward Wren Building was originally constructed in 1921 to house Kaufman Department Store and Farmers National Bank. Long vacant, the building was slated for demolition prior to being purchased by The Turner Foundation. The rehabilitation project, along with adjacent new construction, will convert the upper four floors into 89 residential apartments with a residential lobby and single commercial space on the first floor, and an attached 2-level parking garage.
All Round 29 projects:
The additional awards are being made following an evaluation of scoring procedures for Round 29 based on language in Senate Bill 225. These awards should have been included in the previous announcement but were inadvertently left off.
The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.
Senate Bill (SB) 225 was signed by Governor DeWine on June 14, 2022, and became effective Sept. 13, 2022. SB 225 includes temporary and permanent changes to the OHPTC program, which have been incorporated into Round 29. Full guidance on the changes can be found on the program website.
The Ohio Department of Development empowers communities to succeed by investing in Ohio’s people, places, and businesses. Learn more about our work at development.ohio.gov.