Residences at 700 in Former United Church of Christ Building Downtown Set to Begin Construction After Receiving State Tax Credit

📆 6/27/2024 2:49 PM
📰 ClevelandScene

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United Church Of Christ,City Club Apartments,Downtown Cleveland

Prospect Avenue downtown is about to seem a little less quiet. On Wednesday, K&D Development, the owners of the property once home to the United Church of Christ, announced that they received a $4 million Ohio State Historic Preservation Tax Credit.

Residences at 700 in Former United Church of Christ Building Downtown Set to Begin Construction After Receiving State Tax CreditProspect Avenue downtown is about to seem a little less quiet.

That $4 million, K&D spokesperson Aaron Price told Scene, should allow the Residences to keep its rents at so-called market-rate. Namely, one-beds and studios starting at $1,200 and"focused on downtown workers." In October of 2021, the Winking Lizard's Gateway spot shuttered, citing pandemic-era staffing issues and unsuitable rents; in late 2023, the Fitworks gym across the way went. And the May Co. Building down the block has struggled to fill its ground-floor retail since its rehab wrapped up in 2020.

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