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Committee approves conveyance ordinances to move Franklin Yards redevelopment forward; developer plans 67 apartments and ground-level retail
Summary
The committee approved two ordinances authorizing conveyances needed to assemble title for the Franklin Yards North and South projects; the developer team said the combined projects represent about $19.5 million in investment, 67 apartments (including rehabilitation of historic structures) and roughly 2,000 sq ft of retail facing a city park.
Committee members approved emergency ordinances authorizing acquisition and reconveyance of properties to create a chain of title for the Franklin Yards North and South redevelopment projects so developers can proceed with project financing and construction steps.
City officials described the Franklin Yards project as a two-part initiative that will rehabilitate historic buildings and add new construction on a long-vacant parking lot on Franklin Boulevard. The city presentation said the developer team plans approximately $19.5 million in combined investment to produce 67 apartments and about 2,000 square feet of ground-floor commercial space (a proposed café) facing a city park. The project team said the proposal includes restoration of an 1830s mansion and former YWCA/dormitory buildings, creation of landscaped courtyards with a small amphitheater, and new construction across Franklin on the former surface parking lot.
City staff explained the project will use a back-end non-school TIF (a pilot) to support the rehabilitation and that the project’s net present value over a 30‑year TIF life is modest compared with the developer’s private investment; staff emphasized that the Cleveland Metropolitan School District would receive a majority of tax revenues generated by the project absent a TIF. The developers told the committee they expect more than one job tied to property management and that additional small-business jobs could come from the café and other ground-floor uses. The project recorded community benefits and workforce goals, including MBE/FBE/CSB participation requirements under a community benefits agreement.
Council members praised the reuse of blighted buildings and the activation of a long‑vacant parking lot. The committee approved Ordinance 95-2025 and Ordinance 96-2025; the transcript did not include committee roll-call tallies in the portion provided and noted the project will return for TIF-specific hearings and to finalize related details.
The record showed the director of community development and members of the developer’s team present, including lead counsel and general contractor representatives, and that neighborhood engagement had occurred prior to the committee meeting.
