Westinghouse Redevelopment Project Financing and Energy District Inclusion
Cleveland
Summary
The vacant 1898 Westinghouse building at 1200 West 58th gets an $81 million redevelopment into 116 apartments plus commercial space. A 30-year non-school TIF and $15 million PACE financing make it work, with community benefits including speed tables, bike racks and $50,000 for the Herman Park Trail.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Mar 23, 2026.
Impact analysis
Property taxes on a site now paying $163,000 a year get redirected for 30 years, but schools and the city collect about $23 million plus new income tax during the term.
West Side residents seeking housing, future tenants, nearby neighbors getting streetscape and traffic-calming improvements, and the school district and city through new revenue.
Mentions & discussions (2)
Finance, Diversity, Equity and Inclusion Committee — March 23, 2026
The city is backing an $81 million redevelopment of the historic eight-story Westinghouse building at 1200 West 58th Street into 106 apartments and commercial space using TIF and PACE financing.
Development, Planning and Sustainability Committee — March 10, 2026
The vacant 1898 Westinghouse building at 1200 West 58th gets an $81 million redevelopment into 116 apartments plus commercial space. A 30-year non-school TIF and $15 million PACE financing make it work, with community benefits including speed tables, bike racks and $50,000 for the Herman Park Trail.
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