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Economy and Business


May Company building could be converted to apartments
Details of $100 million project are still pending, but it could bring 400 units to downtown Cleveland
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
In The Region:
A once-prominent, but long-dormant, Cleveland landmark could be headed for a makeover. WKSU’s Kabir Bhatia reports that developers are considering converting the May Company building into apartments.
May Company building could be converted to apartments

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Details of the $100 million project are still being hashed out, but Cleveland developers are looking at the upper floors, if not the whole building, for 400 apartments. The ground floor currently houses a restaurant and Cuyahoga Community College’s hospitality studies center.

Tom Jablonski of the Downtown Cleveland Alliance says, as other historic buildings convert to apartments, downtown’s residential occupancy rate has held steady at around 96 percent.

“It’s a cultural destination. It’s a lifestyle choice. And clearly the trends show wanting to live in an active lifestyle area with its sports, theater district, access to lakefront and riverfront.”

Jablonski says, despite alterations to the 101-year-old building, it should still be eligible for historic preservation tax credits when construction begins. That could be next spring.

The nearly 1 million square foot downtown May Company building closed in 1994, and has seen sporadic tenants since then.
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