Port approves $50 million in bonds for Hough apartment project and redevelopment of historic Park Synagogue

CLEVELAND – October 9, 2025 – The Port of Cleveland Board of Directors today approved $50 million in bond financing to support two significant development projects — the redevelopment of the historic Park Synagogue in Cleveland Heights and a new apartment community along Chester Avenue in Cleveland’s Hough neighborhood.

“We’re proud to help advance these projects — one of which will breathe new life into an iconic architectural landmark,” said Rhonda Winslow, Vice President of Development Finance for the Port of Cleveland. “The Port is an eager partner for developments that strengthen our neighborhoods and preserve community assets.”

The approved projects are:

• Park Synagogue Redevelopment:
  The long-vacant Park Synagogue campus in Cleveland Heights will be transformed into a vibrant education and community arts center. The $42.2 million redevelopment will feature approximately 40,000 square feet dedicated to community arts and activities and 25,000 square feet leased to Oberlin College for its five-year BA/BFA program. Planned amenities include indoor and outdoor classrooms, performance and rehearsal spaces, lecture halls, and breakout rooms designed to foster collaboration and creativity.

  To support the project, the Port of Cleveland will issue up to $20 million in lease revenue bonds.

  Originally constructed between 1948 and 1953, Park Synagogue was designed by renowned modernist architect Erich Mendelsohn. Its hemispheric dome, expansive sanctuary, and fan-shaped classroom wing remain defining architectural features. Over time, as the congregation shifted activities to its Pepper Pike campus (completed in 2005), the Cleveland Heights property became underutilized.

  The redevelopment will be led by Sustainable Community Associates, with Panzica Construction serving as general contractor, under the stewardship of Friends of Mendelsohn, a nonprofit formed to preserve and repurpose the site’s historic 28-acre campus. The project is expected to create 115 construction jobs and 39 permanent positions, while ensuring the preservation of one of Northeast Ohio’s most architecturally significant landmarks.

• Chester 82 Multifamily Housing Project:
  Located at 1898 East 82nd Street, the five-story, 131-unit Chester 82 apartment building will feature 29 studio, 80 one-bedroom, and 22 two-bedroom units, along with 71 indoor and 65 outdoor parking spaces. Amenities will include an elevator, fitness center, package room, dog wash station, and outdoor amenity deck.

  Marous Development Group is developing the $31.7 million project, with the Port authorizing up to $30 million in lease revenue bonds for financing.

Continuing a Legacy of Impact

Since 1993, the Port of Cleveland has provided more than $5.4 billion in financing for nearly 200 projects across Cuyahoga County and beyond — fueling economic growth, neighborhood revitalization, and job creation throughout the region. As demand for its development finance tools continues to rise, the Port remains a driving force behind strategic investments that strengthen Northeast Ohio’s future.

About the Port of Cleveland

The Port of Cleveland is an economic engine for Northeast Ohio, driving job creation, global competitiveness, and waterfront vitality. As one of the largest ports on the Great Lakes, the Port connects our region to world markets through maritime trade, innovative development finance, and critical infrastructure projects.

Each year, roughly 13 million tons of cargo move through Cleveland Harbor, supporting more than 23,000 jobs and generating over $7 billion in economic impact. The Port of Cleveland is the only local government agency solely dedicated to spurring economic growth in Cuyahoga County—building a stronger economy, a more resilient waterfront, and a brighter future for our community.