Council committee approves TIF, requires community-benefit contributions for Shoreway Tower project

An emergency ordinance authorizing the director of economic development to enter a tax-increment financing (TIF) agreement with Shoreway Tower LLC won committee approval, clearing the way for a 13-story addition to the existing Shoreway building in the Detroit Shoreway neighborhood.

The ordinance, No. 499-2025, tasks the director with finalizing a TIF agreement that will support construction of a project that developers say will total about $92,000,000 and create 161 apartment units, including an addition of roughly 110 units to the existing converted Shoreway building. Tom McNair, director of economic development for the city of Cleveland, told the committee the city expects the development to produce tax revenues over time but will use a back-end TIF to incent the project.

The project team said the new tower will include studios through three‑bedroom units, about 4,000 square feet of retail—reworking the existing Good Company restaurant space—public gallery space, and 169 indoor structured parking spaces. Adam Comer of J Rock Development described the total investment as “a roughly $92,000,000 investment in the community.”

Why it matters: city staff framed the TIF as necessary to close financing gaps that otherwise would prevent the private investment, and committee members emphasized the project’s neighborhood…