Once the largest unoccupied building on Euclid Avenue, Residences at 668 is now home to affordable apartment units as well as office and retail space. The historic redevelopment and adaptive reuse of the former William Taylor and Son department store, built in 1870, was one of the first projects to successfully utilize the Ohio State Historic Preservation Tax Credit.
Project Partners: City of Cleveland; Cuyahoga County; Fifth Third; PNC
| Completed | 2009 |
|---|---|
| Location | 668 Euclid Avenue; Downtown |
| Project Type | Mixed Use; Historic Rehab |
| Program | 65,000 SF office and retail; 236 apartments |
| Sponsor | K&D Group |
| CDA Investment | $1.5 million loan from Civic Vision Housing Fund; $5 million NMTC allocation from CNMIF II |
| Total Project Costs | $69.8 million |
| Community Demographics | Poverty Rate: 53% Median Income: 15.6% Unemployment Rate: 18.7% |
47 of the apartments will be reserved for people with 80% AMI providing an affordable housing option.
The developer committed to construction participation goals for Minority, Female, and Cleveland Small Businesses (MBE/FBE/CSB) as well as minority, female, and City of Cleveland resident workers.
The project created 200 construction jobs and 400 permanent jobs.
The project is located on the RTA Healthline, the bus route that connects University Circle to Public Square.