Port of Cleveland Board Approves Major Redevelopment Projects, Advances Irishtown Bend Land Transfer

CLEVELAND — November 13, 2025 — The Cleveland-Cuyahoga County Port Authority Board of Directors today approved financing actions supporting two major redevelopment projects—the long-awaited transformation of the Warner & Swasey complex in MidTown and the historic Westinghouse Building in Detroit Shoreway—along with a key land transfer that advances the Irishtown Bend riverfront park.

Taken together, these actions underscore the Port’s commitment to strengthening neighborhoods, expanding housing options, supporting equitable development, and delivering long-term public access to the Cuyahoga River.

“These approvals reflect the core of the Port’s development finance mission—using creative, flexible tools to bring catalytic projects to life,” said Rhonda Winslow, Vice President of Development Finance for the Port of Cleveland. “From affordable housing in MidTown to historic restoration on the West Side, we are helping close financing gaps, attract private investment and strengthen Cleveland’s neighborhoods block by block.”

Warner & Swasey I: Affordable and Workforce Housing for MidTown

The Board approved a capital lease financing for Warner & Swasey Phase I, a $63.3 million mixed-use, mixed-income historic redevelopment of the iconic former manufacturing plant at East 55th Street and Carnegie Avenue, vacant since 1985. Led by developer Pennrose, Phase I will transform 194,000 square feet of the massive complex into:

• 112 units of senior, family, and workforce housing
• Affordable: 30%–60% AMI
• Workforce/market: up to 120% AMI
• 80 surface parking spaces
• Office and technology-oriented workspace aligned with workforce development
• Community amenities supporting MidTown’s long-term growth strategy
• Reuse of a prominent historic structure on a major commercial corridor

Construction is expected to begin in late 2025 and finish in late 2027. The developer is also finalizing a community benefits agreement with the City of Cleveland.

Westinghouse Building Redevelopment: Iconic Reuse on the Near West Side

The Board approved $25 million in taxable lease revenue bonds to support the $56.1 million redevelopment of the historic Westinghouse Building, the 1915 former factory prominently visible from the West Shoreway and adjacent to Edgewater Park. Led by The Krill Company, the project includes:

• Conversion of the historic tower into multifamily residential units
• A new five-story mixed-use building
• 106 apartments, including 10 workforce units
• Two floors of commercial space
• A 222-space underground parking garage
• Roadway, pedestrian, and bicycle infrastructure upgrades

Construction is slated to begin in Q1 2026 and conclude in Q3 2027.

Irishtown Bend: Port Accepts Key Land Transfers for Park Advancement

The Board authorized the transfer of four riverfront parcels donated by West Creek Conservancy, marking a pivotal step toward completing hillside stabilization and launching construction of the long-envisioned Irishtown Bend Park.

The Port has led stabilization efforts since 2013, coordinating federal, state, and local partners to secure funding and prepare the site for public access.

The newly transferred parcels are essential for:

• Completion of stabilization work
• Compliance with federal and state grant requirements
• Seamless transition to park construction
• Long-term stewardship of the riverfront

Additional parcels acquired with Clean Ohio funds will be transferred separately to the City of Cleveland. Trail and park development will proceed in partnership with Cleveland Metroparks.

“Irishtown Bend has been more than a decade in the making, and today’s land transfer marks a true turning point,” said Linda Sternheimer, Vice President of Urban Planning and Development for the Port. “With stabilization nearly complete, we can finally move from protecting the hillside to creating a world-class riverfront park.”