$2 Million Economic Development Loan for Corporate Headquarters Project Recommended by County
August 29, 2019
Contact: Miranda Pomiecko: (216) 698-2546;
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.