CLEVELAND – June 12, 2025 – The Port of Cleveland’s Board of Directors today approved $92 million in financing to support three major development projects: two mixed-use housing developments in Cleveland totaling 355 residential units, and a new 136-room AC Marriott hotel at the former VA hospital site in Brecksville.

Together, the projects reflect the Port’s continued role as a catalyst for community revitalization and regional economic growth. Projects approved are:

· $35 million in tax-exempt revenue bonds inducement request for the Watterson Lake Apartments, for a new mixed-use affordable housing development by Bridging the Gap Development (BTG) at West 74th Street and Detroit Avenue. The project will include 136 units ranging from studios to four-bedroom apartments, all affordable to households earning 80% or less of the area median income. Thirty units will be under CMHA project-based voucher contracts. The building will feature 9,100 square feet of retail, a playground, and community meeting space. BTG, led by emerging developer Derrick Tillman, was selected by Enterprise Community Partners as part of its Equitable Path Forward initiative. The non-binding action is needed to acquire Low Income Housing Tax Credits. Full consideration and approval will be made at a later date.

· $32 million in taxable lease revenue bonds for construction of a six-story AC Marriott Hotel at Valor Acres in Brecksville—the ambitious redevelopment of the former Veterans Administration hospital site. The $42.9 million hotel will include 136 rooms and a rooftop bar, adding a key hospitality component to the 185-acre mixed-use campus, which includes offices, housing, retail, entertainment, and parking. Construction is expected to begin in July, with completion in early 2027. The hotel is planned by DiGeronimo Development LLC and Crawford Hoying LLC.

· Up to $25 million in taxable lease revenue bonds for the redevelopment of a former county garage site into Bridgeworks, a $82.5 million mixed-use project at the west end of the Detroit-Superior Bridge in Ohio City. Led by Michael Panzica and Graham Veysey, the project includes 219 apartments, a 199-space garage, and 1,200 square feet of retail. Construction is expected to begin soon, with completion projected in the second quarter of 2027.

“These investments reflect the Port’s commitment to using creative financing tools to advance transformative projects,” said Carl Naso, Port CFO. “Whether it’s affordable housing in our neighborhoods or hotel development on a former hospital site, we’re helping move catalytic projects forward while protecting public dollars and delivering long-term value to the region.”

Fueling Growth Across Cuyahoga County

Since 1993, the Port of Cleveland has provided over $5.4 billion in financing for close to 200 projects across Cuyahoga County and beyond, playing a pivotal role in the region’s economic transformation. The Port’s financing initiatives have consistently catalyzed growth, revitalized communities, and strengthened Northeast Ohio’s economic foundation. As demand for these services continues to rise, the Port remains a driving force behind strategic development that shapes the region’s future.

Cleveland – June 12, 2025— The Port of Cleveland Board of Directors has approved nearly $8 million in project management contracts to support two major initiatives: modernizing the iron ore conveyance system at the Cleveland Bulk Terminal and overseeing critical infrastructure rehabilitation and electrification efforts at the Port’s general cargo dock.

A $5.2 million contract with The Ruhlin Company will provide construction management for the aging iron ore conveyor system at the Bulk Terminal. This system plays a vital role in the regional steel supply chain, moving ore from lake freighters and loading it onto smaller vessels for delivery up the Cuyahoga River to the steel mill.

The Port acquired the iron ore terminal in 1997 and since then has invested significantly in modernizing the site’s infrastructure. In 2021, the Port extended the tunnel and conveyor system to allow for taconite blending and increased throughput. However, the original segment of the system is now nearing the end of its useful life and is in need of major rehabilitation —a project expected to take at least two years, according to Dave Gutheil, interim CEO and chief commercial officer.

Modernizing Key Infrastructure and Advancing Port Electrification

The board also approved a $2.7 million agreement with Jacobs Engineering to manage a multi-phase infrastructure and electrification project that will significantly reduce emissions and improve operational efficiency. This work will help reduce carbon emissions of port operations by 40 percent and makes considerable progress towards the Port’s Climate Action Plan.

This initiative includes the rehabilitation of Warehouse A, the Port’s largest warehouse built in 1975, as well as major electrical infrastructure enhancements to support clean energy operations. The effort includes installation of rooftop solar panels, battery energy storage, microgrid technology in partnership with Cleveland Public Power, and electric equipment across port facilities. Key upgrades include:

· Ten electric forklifts and charging stations (replacing six diesel units)

· A new electric mobile harbor crane

· Two electric tugboats and associated charging infrastructure procured and installed by Great Lakes Company

· Shore power installation at Dock 24

· Rooftop solar and microgrid systems at Warehouse A

Jacobs Engineering will provide day-to-day oversight of these improvements, which are expected to be completed by December 2028.

A Climate-Driven Investment in Cleveland’s Maritime Future

The Port’s modernization efforts are supported by two major public grants: $27.2 million from the U.S. Department of Transportation’s Maritime Administration and $4.9 million from the Ohio Department of Transportation’s Maritime Assistance Program. Together, these investments are transforming the Port of Cleveland into a national model for sustainable shipping.

These infrastructure and electrification upgrades are projected to cut the Port’s carbon emissions by 40 percent—a major step toward achieving the goals outlined in the Port’s Climate Action Plan, which calls for net-zero greenhouse gas emissions by 2050. Once completed, the Port of Cleveland will be the first Great Lakes port to implement such an ambitious and comprehensive decarbonization strategy, reinforcing its leadership in climate-forward maritime innovation.

In other business, the Port of Cleveland welcomed Catherine Tompkins, Senior Counsel at KeyBank, as the newest member of its Board of Directors, appointed by County Executive Chris Ronayne and replacing Andrew Jackson. Tompkins brings extensive financial expertise and deep knowledge of credit risk management to the board. Her appointment begins Thursday, and she is expected to play an important role in guiding the Port’s ongoing infrastructure investments and long-term strategic planning.

CLEVELAND — The Port of Cleveland debuted a powerful new documentary shining a spotlight on Cleveland  and the working-class heroes behind the steel that drives America.  “Made in America: How the Port of Cleveland Supports the Region’s Economy” is a cinematic tribute to the people, processes and places that form the backbone of US industry.

Underscored by stunning visuals of the Great Lakes and bustling docks, the film tells the story of how raw materials flow through the Port of Cleveland and become high-strength steel that supports America’s cars, appliances, bridges and buildings.

“This one is for the masters of American craftsmanship,” opens the narrator, setting the tone for a story that honors the laborers whose hands forge the future of the nation — from miners and longshoremen to steelworkers and ship captains.

At the center of the story is the Port of Cleveland, a critical hub for transporting iron ore from the mines of the upper Great Lakes to Cleveland-Cliffs’ steel mill, where it is transformed into finished steel.

We are proud to be part of a process that is not only made in America, but made with American strength, innovation, and pride,” said David Gutheil, interim CEO of the Port. Through interviews with port officials, manufacturing leaders, and vessel line executives, the documentary sheds light on the essential — and often overlooked — supply chains that underpin U.S. manufacturing. With over 23,000 jobs tied to the Port of Cleveland and $7.07 billion in annual economic activity generated, the film makes clear the port’s local and national significance.

“Each steel coil is produced for a specific customer to ensure they get the right product at the right time in the right way,” said Chad Asgaard, General Manager, Cleveland-Cliffs, in the film.

The documentary also addresses the Port’s forward-looking environmental and technological initiatives — including new ore tunnel extensions and eco-conscious logistics — positioning it as a model of modernization and sustainability.

With stakes reaching beyond Northeast Ohio, the film touches on broader economic themes. According to a Department of Homeland Security report cited in the documentary, the closure of a single lock in Northern Michigan could plunge the nation into recession, highlighting just how vital Great Lakes shipping is to the national economy.

“This is more than a story of steel,” Gutheil said. “Made in America  is a tribute to the strength, resilience, and the enduring legacy of American industry.”

CLICK HERE to watch!