News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Akron General

Metro RTA

Northeast Ohio Medical University


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Government and Politics


Cuyahoga County reaches $27 million deal with developer for Ameritrust
Complex will become apartments, retail and new county adminisration building if council approves deal
by WKSU's KEVIN NIEDERMIER


Reporter
Kevin Niedermier
 
This part of the Ameritrust complex could become the new Cuyahoga County administration building if council approves a deal to sell the complex.
Courtesy of Kevin Niedermier
Download (WKSU Only)
In The Region:

The future of Cuyahoga County’s controversial Ameritrust Complex is now clearer. The county has announced a deal to sell it to a developer who plans to convert part of it into apartments, and another part into a new county administration building. As WKSU’s Kevin Niedermier reports, the deal is one of several the county will be announcing. 

Click to listen

Other options:
Windows Media / MP3 Download (3:12)


(Click image for larger view.)

 

The Ameritrust Complex, with its 104-year-old rotunda and more modern office tower, was always supposed to be the county’s new administration building. The old county government bought it in 2005 for $22-million, then spent another $20-million on it, but it was never used.  Last summer the county put the facility up for sale along with 12 other excess properties including the administration building.County Executive Ed FitzGerald says the county struck a deal to sell the Ameritrust complex to the Gies Companies for $27-million. The deal includes Gies tearing down part of the complex and building a new 8 story administration building. That project at the corner of East Ninth and Prospect is expected to be finished in July, 2014. The county will lease the building for six-point-six million dollars a year for 26-years.  From the cavernous rotunda, FitzGerald says the lease rate is about half of the county’s annually cost for the 13 buildings being sold, most of which will be consolidated into the new administration building.

The county will save money leasing its administration building

“It’s the best of both worlds, we get to lease and the operations of the facility fall on the developer, but at the end of the lease the county will own the building. So at the end we’ll be turning over to taxpayers a building that’s free and clear that we own that has additional value.”

FitzGerald says the county is still discussing with Geis what will be done with the rotunda. He says it will probably be open to the public as retail space and maybe a restaurant. But, the 28-story office tower will be converted into high-end apartments….

“And the timing for that couldn’t be better because the occupancy rate downtown is nearly 100 percent, so there’s a huge market for housing.  It’ll bring more and more people downtown.”

Geis deal adds to downtown revitalization

A priority for buying one of the county buildings is that there’s a plan to incorporate the redevelopment into the revitalization now underway downtown. FitzGerald says there were 3 serious bids for the Ameritrust complex, but the 2 other offers were only $18-million and $16-milliion dollars. The Ameritrust deal must first be approved by Cuyahoga County Council. Councilman Micheal Gallagher has been following the bidding and heard FitzGerald’s presentation. He says on the surface the deal sounds like the best of both worlds.

County council must still approve deal

“I went to Cleveland State in the 1970s, and to be part of what’s going on downtown, I wish I was 40-years younger. It’s a revitalization of East 9th and Euclid, the center and heart of Cleveland. It brings 750 employees to the heart of the business district.”

The Ameritrust deal was presented to council last night for the first of 3 readings.  A decision is expected by late January.  Deals on the 12 other buildings being sold are expected in the coming weeks.                                    
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Letters from a lost friend: A Beachwood survivor's Holocaust remembrance
What a great story -- and how important it was for both Marlene and her mother to tell it! Thank you.

Akron city council to vote on resolution for hiring ex-offenders
Great as a taxpayer I paid for the police to catch them, the free lawyer, the jail to house them , the food their kids eat the medical for them and all its goin...

5 of 8 rule headed for a vote
this is just another way for kasich to pass the buck and claim that it gives the local districts control. Few schools have enough money because of his cuts. T...

Bill would allow Ohio religious leaders to refuse to do gay marriages
This is just a lot of political posturing. The free exercise clause of the 1st Amendment already protects clergy from being forced by civil authorities to perfo...

Ohio lawmakers want to eliminate background checks, training to carry guns
On the face of this report I don't find the name of the bill or who sponsered it. I will have to google a general bill with this as its content to address it. N...

Ohio lawmaker calls for an investigation into a Dayton women's prison
I was an inmate at DCI and I am so happy that it's being investigated. The staff behavior there is awful unless he/she is your lover. There are more drugs insid...

Ohio's disabled face long waiting list for services
Can we use the Tribble on Disability Care? if so can you send the link to http://voice4thevoiceless.us thank you, Mark J Cleland Sr voice4thevoiceless.us

Treasures rescued from Cleveland's closed Catholic churches
This was found to be a real gift today Good Friday Bless you for your work

Akron mayor says he had reason to fear an "enraged" councilmember
At least we know that York is out sick. Where in the World is Carmen Plusquellic today?

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University