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$2 Million Economic Development Loan for Corporate Headquarters Project Recommended by County

8/29/2019  


Press Release

August 29, 2019

Contact: Miranda Pomiecko: (216) 698-2546; mpomiecko@cuyahogacounty.us


CCCIC Recommends Business Growth and Attraction Loan to Redwood Living, Inc.


CUYAHOGA COUNTY, OH – The Cuyahoga County Community Improvement Corporation (CCCIC) reviewed and recommended a $2 million Department of Development Business Growth and Attraction Loan to Redwood Living, Inc. on Wednesday. The loan is to assist in the funding of Redwood’s proposed new headquarters project which will keep the company in the City of Independence and serve to continue its strong growth within Cuyahoga County.

“We are pleased to be investing in business projects like the Redwood Living Inc. headquarters expansion to help these national headquarters companies continue to stay, grow and thrive in our region,” said Cuyahoga County Executive Armond Budish. “Redwood Living, Inc. will do this by fully renovating and modernizing an underutilized building in Independence and creating good paying management, specialist and administrative jobs as a result.”

Redwood Living, Inc. is requesting funding for the purchase and complete renovation of a 60,000 square foot office building located at 7007 E. Pleasant Valley Road, Independence, OH 44131. The company proposes to relocate its current headquarters operation from leased facilities down the street to the new E. Pleasant Valley Road location.

Redwood Living Inc. is a fully integrated national development and management company, controlling apartment neighborhoods in Ohio, Michigan, Indiana, Iowa, North Carolina and South Carolina. Redwood serves as a full-service developer for each community; the building general contractor as well as management agent; operating and maintaining each housing neighborhood that it creates.

“Redwood is looking forward to expanding our business in the City of Independence and to continue growing our national success and presence in Northeast Ohio,” said David Conwill, Chief Executive Officer of Redwood. “We are extremely grateful to Cuyahoga County for its critical assistance in this effort.”

The total project cost is estimated at $14.4 million. The headquarters project will create 65 new jobs in Independence and Cuyahoga County.