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PROJECT
TIMELINE
2019
Partner Selection: RFP released by the City of Cleveland to select development partner and RFP awarded to Pennrose
2020-2023
Pre-Development: 9% Low-Income Tax Credits State Historic Tax Credits awarded. 24 sources compiled to complete this capital stack.
2026
Construction: Project closes and Phase 1 construction demolition, stabilization, and construction begins.
2026-27
Construction & Engagement: Continue Phase 1 of construction and begin planning for phase 2. Launch a series of engagements to inform the community and identify retail partner(s).
2027
Phase 1 complete
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A Vision for the Future
Pictured : Warner & Swasey in its factory days, circa 1940
Pennrose, in partnership with MidTown Cleveland Inc., is transforming the long-vacant Warner & Swasey machine-tool factory into a mixed-use, mixed-income community anchored by residential and commercial space. The adaptive reuse leverages the historic five-story building, vacant since 1985. and protects its architectural legacy while introducing new life to the site. In Phase I the building will consist of 112 units of low income apartments for families and seniors. Phase II will provide twenty-eight additional units of workforce housing.
When the project is finished, amenities will include preservation-styled spaces, such as a second-floor rooftop terrace and outdoor gathering areas, celebrating the buildings manufacturing heritage. This project has been a long time coming, but the result will return this historic building to its former glory.
Warner and Swasey will serve as a symbol of the revitalization of the MidTown neighborhood and Cleveland at large in context to the rich heritage this building communicates. A revitalized Warner and Swasey will serve as a gateway to the center of MidTown and a connector in the long chain of industrial reuse coming via the MidLine.
Project DETAILS
A CATALYTIC PROJECT FOR THE NEIGHBORHOOD
The overall project will create approximately 140 units in a mix of Studio, 1-, 2- and 3-bedrooms on the upper floors.
The residential units offer senior and family housing affordable to households earning 30% and 60% of Area Median Income (AMI), as well as market rate workforce housing affordable to households earning 60% to 120% AMI. This age integrated and mixed-income approach creates a dynamic mixed-income affordable housing solution that serves a spectrum of existing and new MidTown residents. The project will consist of 140 family housing units. There will be 28 studios, 72 one-bedrooms, 36 two-bedrooms, and 4 three-bedrooms.
The ground floor of the existing buildings will house approximately 20,000 SF of commercial space. We anticipate a dynamic interaction between the activity happening in the commercial spaces and the residents living above.
Layouts & Renderings
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