Construction on a mixed-use Detroit Ave. project that includes apartments, retail and event space will soon begin, thanks to half a dozen real estate attorneys at Walter | Haverfield.
The legal team represented Project 29 Partners, LLC, the developer behind the Church + State project. For the past year, Walter | Haverfield’s attorneys worked closely on the development and financing process and advised the developer team through critical steps.
Church + State will consist of 158 apartments, 20,000 square feet of retail space and a public plaza. An amphitheater, rooftop soaking pool, a large rotating public art installation and a splash fountain will also be incorporated into the property.
Walter | Haverfield’s real estate team secured the complex funding for the project, including the crucial HUD 221(d)(4) program insured loan. Just as essential was the tax increment bond financing, which closed concurrently with the HUD insured loan. The firm’s attorneys also successfully concluded a loan from Cuyahoga County and funding from Cleveland’s Neighborhood Development Program as well as its Vacant Property Initiative. TIF Bond financing came via the Cleveland-Cuyahoga County Port Authority and was underwritten by Huntington National Bank.
Walter | Haverfield has played an integral role in helping to revitalize the Detroit Ave. stretch of Ohio City commonly known as Hingetown. In 2016, the firm’s real estate attorneys closed on the $6 million Music Settlement space in The Quarter building at W. 25th and Detroit Ave. They also represented The Music Settlement when it received the donation of the Bop Stop, an intimidate jazz performance venue, at W. 29th and Detroit Ave.
The Church + State project is set to be completed in 2020.
Since 1932, Walter | Haverfield attorneys have served as strategic counselors to private businesses, public entities and high net-worth individuals, providing creative and customized solutions that deliver outstanding results at an exceptional value. Our track record has allowed us to sustain year-after-year growth. Walter | Haverfield has doubled its size in the past decade to become one of the top ten Cleveland-based law firms. Today, our team of nearly 80 attorneys is focused primarily in the areas of corporate transactions, real estate, intellectual property, labor and employment, tax and wealth management, liquor control law, litigation, public law and education.