CLEVELAND-It appears the $20-million conversion of a former brewery on West 25th Street here to an apartment building is "off to the races."
The developer, West 25th Street Lofts, LLC, was notified late last week by the US Department of Housing and Urban Development that it had approved a $14-million loan for the project in Ohio City, according to Crain's Cleveland Business.
News of the loan award prompted Chris Smythe, a partner in West 25th Street Lofts LLC, to say: "We're off to the races." He adds that his firm, headed by Smythe and partner Rick Foran, expects to close financing for the venture soon and begin construction in April.
The project calls for the conversion of the former Baehr Brewery, into a two-story, 60-unit apartment building. See story in Crain's Cleveland Business.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
