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Medical Mart Site Expected By End of Year

Friday, August 31, 2007 at 12:00 AM

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Leaders of the Greater Cleveland Partnership say they expect to recommend a site for a new convention center and medical mart by the end of the year. ideastream's economics reporter Tasha Flournoy has more.

Greater Cleveland Partnership chairman Fred Nance announced Thursday the formation of four advisory groups that will shape the project now that financing has been secured.

Nance will head a site selection committee that will look at 13 possible locations identified by Merchandise Mart Properties, the Chicago-based company that will manage the medical mart.

A county sales tax that takes effect October 1st will pay for the public end of the project.

As the deal broker between the Cuyahoga County Commissioners and Merchandise Mart, Nance says the medical mart would ideally be built first. But, he says that is a rough guideline.

Fred Nance: The public dollars will be used to build the trades how slash convention center, but primarily private dollars will be used to build the med mart.

But Nance says exactly how the integrative project will unfold. It’s expected to cost in the neighborhood of $500 million dollars, and supporters say it will attract 50 trade shows a year.

Tasha Flournoy 90.3.

Tags

Government/Politics, Health, Regional Economy/Business - Analysis and Trends, Regional Economy/Business - News

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