Construction Begins on Five-Story Apartment Building Downtown Cleveland
By Eric Heisig, cleveland.com
Construction is underway for a $65 million apartment building near the West Side Market that will add 241 apartments to the city of Cleveland.
Workers with Marous Brothers Construction broke ground last month for Waterford Bluffs, a building that will sit on a 75-foot high bluff at the western end of the Hope Memorial Bridge. Stoneleigh Cos., the suburban Chicago-based developer aims to finish the building by late next year.
Cleveland City Council in October passed legislation approving a 30-year tax-increment-financing deal for the building. The project qualifies for a 15-year tax abatement on revenues.