The projects will support new housing, retail, hospitality and job creation across Northeast Ohio
CLEVELAND , OH — The Cleveland-Cuyahoga County Port Authority Board of Directors today approved financing for three development projects that will support new housing, retail, hospitality and job creation in Middleburg Heights, Strongsville and Richmond Heights.
In Middleburg Heights, the Board approved the Port’s facilitation of a Capital Lease and the issuance of up to $50 million in lease revenue bonds for The Allium, a mixed-use development that supports the city’s long-term vision for the Southland District. The multi-year redevelopment effort includes new retail and housing, with plans for streetscape improvements, trail connections, sustainable stormwater infrastructure and additional future development. This project marks the first time the Port has helped facilitate a project in the City of Middleburg Heights.
The Allium is expected to include approximately 14,000 square feet of restaurant and retail space and create 66 full-time jobs within three years of completion. Construction is expected to begin in October 2026 and conclude in July 2028, with stabilized leasing anticipated by the first quarter of 2029. The Port’s capital lease savings to the project is estimated to be approximately $1 million in sales tax savings.
In Strongsville, the Board approved the Port’s entry into a Capital Lease and the issuance of up to $25 million in lease revenue bonds for a new dual-branded Hampton/Home2Suites hotel near SouthPark Mall. Developed by J-Roc Development, LLC and Spark GHC, the four-story, 132-key hotel will total approximately 73,000 square feet on 1.7 acres. The project is expected to create approximately 200 construction jobs and generate $9 million in construction payroll. Once complete, the hotel is anticipated to support 25 permanent jobs and approximately $726,000 in annual payroll. Construction is targeted to begin in October 2026 and conclude in summer 2028. The Port’s capital lease savings to the project is estimated to be approximately $715,600 in sales tax savings.
“Every project we support is ultimately about creating opportunity and strengthening the communities we serve,” said Port of Cleveland President and CEO Jeff Epstein. “Whether that
means bringing new businesses and housing to a redevelopment site, preserving affordable
housing or helping a community institution continue its work, Development Finance gives us
another way to deliver meaningful local benefits.”
Lastly, the Board also approved up to $20 million in special obligation revenue bonds for Phase 1B
of Belle Oaks, the 70-acre redevelopment of the formerly enclosed mall site in Richmond Heights.
Developed by DealPoint Merrill through Belle Oaks Marketplace, LLC, the larger project will transform the property into a mixed-use neighborhood with 798 market-rate residential units across 13 buildings, approximately 105,000 square feet of restaurant and retail space and a completed 157,000-square-foot Meijer grocery store.
Phase 1B includes Buildings 4, 5, 6 and 7, totaling 270 market-rate residential units, along with the completed Meijer parcel as part of the pledged-revenue structure. Across all phases, Belle Oaks is expected to create more than 1,400 construction jobs and approximately 500 permanent jobs in retail, restaurants and other businesses. The development is also expected to bring approximately 1,100 to 1,900 new residents to Richmond Heights once completed and stabilized.
The Cleveland-Cuyahoga County Port Authority’s Development Finance program provides financing assistance to eligible projects through tools including tax-exempt and taxable bonds, capital leases and other financing structures. The program helps organizations access capital while supporting economic development and community investment throughout Northeast Ohio.
About the Port of Cleveland
The Port of Cleveland is a key economic driver for Northeast Ohio, generating over $7 billion in annual economic activity and supporting more than 23,000 jobs. As a leading hub for international and Great Lakes shipping, the Port handles roughly 12 million tons of cargo each year. Established in 1968, the Port also advances regional growth through infrastructure improvements, shoreline resiliency projects, and development financing that supports both public and private investments. Guided by a nine-member board, the Port’s mission is to foster job creation, economic vitality, and global competitiveness for the Greater Cleveland region.
For more information on the Cleveland-Cuyahoga County Port Authority, visit www.portofcleveland.com.