海角破解版

The historic Union Trust building in Downtown Cleveland could be reimagined as workforce housing under a redevelopment plan that鈥檚 been securing public financing in the past few months.

The mostly vacant, 1.3 million-square-foot building, renamed The Centennial, at the corner of Euclid Avenue and East Ninth Street would be home to more than 860 apartments. Plans also include some retail and office space.

鈥淭his is the missing tooth in the center of the mouth of the smile on Euclid Avenue,鈥� said Tom Mignogna, a senior development officer for Millennia Companies, which is leading the redevelopment.

It鈥檚 one of several projects on the block that will fill in underused space between Public Square and Playhouse Square. Next door is the , and across the street, the Cleveland Athletic Club building is now a luxury apartment building called . 

Apartments in The Centennial would rent for rates aimed at tenants making between 50 percent and 80 percent of the local median income, or an annual salary of $38,000 to $60,800 for a family of four, according to the developer.

鈥淚t will offer the amenities of a nice market-rate property but at the same time have rent levels that are going to make it affordable for so many people who live and work 鈥� and want to live and work 鈥� downtown,鈥� Mignogna said. 鈥淗ospital workers, hospitality workers bus drivers, entry-level folks working at the county, at the Clinic.鈥�

Part of the former bank鈥檚 grand, column-lined lobby would become a high-end dinner club, he said, while another section would host displays from the Western Reserve Historical Society鈥檚 Crawford Auto-Aviation Museum.

Millennia is still putting together financing for the project, which could have a final cost as high as $460 million, Mignogna said. The developers are drawing on private funding sources as well as public ones, including state historic tax credits won by a previous owner of the building.

A Cuyahoga County Council committee on Monday discusses a $5 million economic development loan for the project. Late last year, the city of Cleveland approved a tax-increment financing deal valued at $15 million and a $15 million loan from the U.S. Department of Housing and Urban Development.

An earlier version of this story misspelled Tom Mignogna's last name.