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.

Area Agency on Aging 10B, Inc.

Don Drumm Studios

Hennes Paynter Communications


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
Economy and Business


Much of Tower City being sold to unnamed California company
Sale of Cleveland shopping and office complex will not include the Terminal Tower
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
Forest City says it won't identify the California-based company buying Tower City until the deal is finalized
Courtesy of WKSU
Download (WKSU Only)
In The Region:
Much of Tower City in downtown Cleveland may soon have a new owner. WKSU’s Kabir Bhatia reports on the future of the downtown centerpiece.
Much of Tower City being sold to unnamed California company

Other options:
Windows Media / MP3 Download (1:02)


Tower City includes the Avenue shopping complex, a parking garage, the Skylight Office Tower and Post Office Plaza. Those are slated for sale to an unnamed California company, but Forest City will retain the Terminal Tower.

Forest City Spokesman Jeff Linton says the company is concentrating on its core markets, including New York, L.A. and Boston, but it has deep roots in Northeast Ohio.

“Cleveland has been our headquarters location since the company was founded in 1920. And we have no plans to change that whatsoever. Our associates and our executives are deeply embedded in the community [and] call this region home.”

Forest City also owns the Halle Building, several apartment buildings in Beachwood and Parma, plus vacant land in the Flats.

The news of the sale came in the company’s earnings report this week, which showed a $130 million loss, much of it related to Tower City. Linton says the sale information was included for the benefit of investors. And he says he does not know if the complex will be converted to residential use.
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

Bringing back ballet in Cleveland
I do think Ballet in Cleveland is doing good things, but the fact that director says "When we have flourishing companies like the New York City Ballet and the A...

Report confirms some Vietnam veterans may have been exposed to Agent Orange
was in nam 1969 exposed va stated lost medical records was in lawsuit from 197? till settled 0 $ 2010 ? said all nam vets will get back disability till 198? jus...

Mentorship grant program redefines "faith-based" provision
Can't anyone have values, beliefs, and morals anymore? How is it anymore unconstitutional for a school partner with a "faith-based" organization than any other ...

Exploradio: The challenge of finding a healthy balance with technology
Thank you, Jeff, for another well done Exploradio. I always learn something interesting about what is happening in NE Ohio.

Northeast Ohio's transgender community rallies around restroom issue
A good first step would be for Cleveland to require restaurants to have a public restroom. Cleveland is the only city I've ever been in where restaurants somet...

Vapor shops say tobacco tax hikes could hit them hard
Maybe you should be DOING a study, since every time you've tried to villianize them all that's happened was the opposite. I'm not a fan of alcohol that's flavor...

New law gives access to birth records to Ohio adoptees
Can siblings also look for their missing brother or sister? And how do we go about it?

Ida McKinley's tiara comes home, with the help of "Pawn Stars"
I donated to the fund to keep the tiara at the museum where I believe it belongs. I took my 16 year old granddaughter to the showing I dont think it will be som...

ResponsibleOhio names 10 counties as possible pot-growing locations
Ohio has always made its money off our prison system ,and ohio is so hard nose on us the public that there voicing concerns saying there on our behalf bullcrap ...

Akron's plan to create its own construction company is on hold -- for now
They talk about displacing workers... This is all about the teamster union. The city is allowing RW Sidley out of Canton to haul concrete for one of the CSO pr...

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