© 2024 Ideastream Public Media

1375 Euclid Avenue, Cleveland, Ohio 44115
(216) 916-6100 | (877) 399-3307

WKSU is a public media service licensed to Kent State University and operated by Ideastream Public Media.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
News
To contact us with news tips, story ideas or other related information, e-mail newsstaff@ideastream.org.

Casino Cash Approved For Cleveland Developments

Ohio's first voter-approved casino, The Horseshoe Casino of Cleveland.  It opened in May 2012 (pic by Brian Bull)
Ohio's first voter-approved casino, The Horseshoe Casino of Cleveland. It opened in May 2012 (pic by Brian Bull)

The Cuyahoga County Council has approved two loans, each $1.5 million. One is to help convert downtown Cleveland’s East Ohio Gas Building into apartments. The other goes towards the Flats Residential Tower, a lakefront apartment and retail development.

Joe Marinucci is President of the Downtown Cleveland Alliance. He says despite overall revenues being a bit lower than first anticipated, the casinos have generated jobs and traffic in areas that need them.

“They’re animating downtown Cleveland, there are pedestrians now walking – not only to and from the casino -- but in the immediate vicinity on a daily basis," says Marinucci. "So from that perspective, they’re doing exactly what we hoped. And they are providing dollars -- in this example -- to two projects that need the financial assistance in order to reach the finish line.”

Cuyahoga County officials say they’ve collected nearly $5 million from the state’s voter-approved casinos. It’s projected that by year’s end, roughly another $5 million will be generated for further development across Greater Cleveland.

A county spokeswoman says another application for funding will be reviewed soon, to support redevelopment of Playhouse Square.