BGL Managing Director Anthony Delfre, who leads the firm’s Real Estate Advisors team, is quoted in an article published by Crain’s Cleveland Business entitled, “Erieview Tower, Circle Square, Hall of Fame Village win big tax credits for ‘transformational’ projects.”
The article discusses the approval of $13 million in tax credits for the mixed-use renovation of the Tower at Erieview. The Kassouf family, a longtime BGL client and owner of the Tower at Erieview, will transform the 40-story building into Ohio’s first W hotel, a luxury brand under Marriott International Inc.; with the addition of the hotel and over 200 apartments, the building’s office space will shrink by 57%.
In the article, Delfre discusses the positive impact the project will have in reducing vacant office space and transforming the landscape of downtown Cleveland.
BGL’s Real Estate Investment Advisors team are the exclusive financial advisor for the project and arranging the financing for the $162 million project, including state and federal tax credits for historic preservation.
The complete article is available on the Crain’s Cleveland website: https://bit.ly/CrainsCleveland