Cuyahoga County Recommends $1 Million For Brownfield Remediation Loan
Media contact: Miranda Kortan: (216) 698-2546; email@example.com
CUYAHOGA COUNTY, OH
– The Cuyahoga County Community Improvement Corporation (CCCIC) reviewed and recommended a $1 million Brownfield Remediation for the Silverpoint Redevelopment Site at its February 12 meeting. The loan is to support Cannata Companies Ltd. with the Brownfield Remediation of this vacated building located at 4291 Richmond Road in the City of Warrensville Heights.
“The clean-up of contaminated properties like this vacant facility in Warrensville Heights is an essential part of ensuring the continued revitalization of our communities in Cuyahoga County,”
said Cuyahoga County Executive Armond Budish. “Once this site is cleared of hazardous materials and ready for redevelopment, it will allow for better use of the property to meet the needs of the community and provide great potential to create jobs.”
“We are looking forward to collaborating with Cuyahoga County and Cannata Companies Ltd. in their efforts to remediate and revive the site for future growth. Nestled in our thriving business corridor, our plan is to expand development down Richmond Road to feature Class A office space, retail, and high-end residential housing. It will be exciting to see the transformation, expansion and new additions to the Friendly City in the near future,”
said Warrensville Heights Mayor Brad Sellers.
Cuyahoga County’s Brownfield Redevelopment Fund is a revolving loan fund established to help clean up sites contaminated with petroleum and/or hazardous substances. Through the fund, the Cuyahoga County Department of Development awards low-interest loans to encourage redevelopment, reduce neighborhood blight, enhance green space and create jobs.
Cannata Companies purchased a 3-story former nursing home facility, previously operated by the Little Sisters of the Poor in 2015. This now vacant facility occupies over 14 acres of prime real estate. Other nearby facilities include: the University Hospitals of Cleveland Ahuja Campus, Cuyahoga County Community College, Eaton Corporation’s Headquarters, and retail centers such as Harvard Park.
A property assessment, conducted in 2019, revealed that the building contains Asbestos Containing Materials throughout the structure. In order to make way for the redevelopment of this structure, an asbestos contamination remediation will be conducted and funded through the County’s $1 million Brownfield Loan.
Once the site has been environmentally remediated and cleared, redevelopment plans could include a range of housing, commercial office, hotel, heath care, and education in mixed-use development configurations.