Supporting Cleveland’s Historic Revival

A recent Wall Street Journal article spotlighted Cleveland’s continued momentum in historic rehabilitation and highlighted how landmark buildings are being reimagined as apartments, hotels, retail and community-focused spaces across downtown. The piece points to a market shaped by adaptive reuse, historic character and sustained demand for urban living.

Foss & Company is proud to have supported that momentum by providing capital through federal and state historic tax equity and bridge loans for projects that have helped reshape the city. As the article puts it, downtown Cleveland renters are “moving back to the future” as historic buildings are reborn for modern use.

To date, Foss & Company has been involved in 17 projects in Cleveland, OH, representing more than $762 million in total construction costs and more than 3.4 million square feet redeveloped. Across those projects, our teams have financed the creation of 1,566 apartment units, 337 hotel units and more than 1 million square feet of commercial space. These numbers reflect not only the scale of redevelopment in Cleveland but also our continued commitment to the market.

Several of the properties referenced in the Journal article are part of that broader Cleveland story. Foss & Company worked with K&D Group on Terminal Tower Residences, Heinen’s Grocery Store at The 9 and Residences at Halle. Each of these projects reflects the power of historic rehabilitation to preserve iconic buildings while repositioning them for modern use. The article notes Terminal Tower’s significance as a 1920s landmark, highlights Residences at Halle as part of the downtown adaptive reuse movement and features Heinen’s Grocery Store at The 9 as a notable retail use within a historic former bank building.

Beyond the projects named in the article, Foss & Company also worked with K&D on 55 Public Square, another important Cleveland redevelopment. Taken together, these projects demonstrate the range of our involvement in the city, from residential conversions that bring new life to legacy office and department store buildings to hospitality and commercial components that help strengthen downtown as a place to live, work and gather.

What stands out in Cleveland is not just the number of historic buildings being preserved, but the way those projects contribute to the city’s ongoing evolution. As the Journal describes, these conversions are helping reshape downtown living and attract a mix of renters drawn to character, convenience and one-of-a-kind spaces.

As Cleveland’s revitalization continues, Foss & Company is proud to support projects that preserve historic character and create lasting value. To learn more about how we finance and support historic rehabilitation projects across the country, connect with our team.