Government Market News StaffThe state of Ohio will invest $68.5 million in tax credits to preserve 43 historic buildings statewide that are vacant or generate minimal economic activity. The projects will renovate the buildings into residential housing, commercial and office space and manufacturing facilities.
Ohio will provide $10 million to support the $171.9 million Kroger Bakery Complex renovation project in Columbus. The facility has been vacant since 2019. The project will redevelop the existing buildings into a large residential complex and build on-site apartments. Plans include installing systems and finishes while preserving the buildings’ historic industrial design.
The Spitzer Building in Toledo will receive $9.2 million in tax credits for its $92 million rehabilitation project. The 11-story building was built in 1896 and was owned and operated by the Spitzer family until 2009. The building was vacated in 2013 for safety reasons. The project will rehabilitate the building into 152 residential units and five commercial spaces. Plans include converting the building’s penthouse into resident amenity space while retaining the structure’s interior and exterior historic features.
The state will allocate $5 million to the $50 million Heller and Keller-Kohn Building rehabilitation project. The project consists of two former industrial buildings in Cleveland – the Heller Building and the Keller-Kohn Building. Plans include converting the buildings into 134 residential units, parking and commercial spaces.
The projects are part of the state’s Historic Preservation Tax Credit Program, an initiative dedicated to preserving historic buildings through private redevelopment. To date, the initiative has supported 708 projects and has rehabilitated more than 952 buildings.
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