Shoreway Commerce Park -
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BACKGROUND INFORMATION
The $20 million transformation of the former White Motor Company that closed over 30 years ago, began in 2009. The 30-acre site is located in a severely distressed neighborhood with 41% of residents living below poverty and an unemployment rate 5.9x the national average. Located four miles from downtown Cleveland, adjacent to CSX’s rail lines and just south of I-90, its geographical attributes make it an optimal venue for a world class distribution, warehouse and logistics industrial park with access to rail, water and highways. The plan included rehabilitating 450,000 sf of existing buildings, constructing a two lane-heavy duty drive connected to I-90, revitalizing a rail spur, and environmental remediation and demolition of 400,000 sf of dilapidated structures creating 17 acres of clean, site ready land to attract new business aimed at creating over 200 full time job opportunities.

PROJECT INFORMATION

Address: 842 East 79th Street

Date Close: 10/1/2009

Developer: First Interstate Properties, Ltd.

TOTAL PROJECT COST: $17,955,377

New Markets Tax Credit Allocation: $6,235,000

CDA Loan: N/A

Project Name: Shoreway Commerce Park Website: Neighborhood: East 73rd & Saint Clair

Uses:
  • Warehous/Industrial

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