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State rescinds historic tax credits for Ohio Bell Building redevelopment in downtown Cleveland Michelle Jarboe/Crain s Cleveland Business An out-of-state developer that hoped to remake much of the Ohio Bell Building in downtown Cleveland s Gateway District as a hotel recently lost state tax credits for the preservation project. The 22-story building is owned by AT&T. The state has revoked a $4.2 million historic tax credit award for the Ohio Bell Building in downtown Cleveland, where a planned hotel conversion stalled out last year. In a letter dated Feb. 19, the Ohio Development Services Agency notified Todd Interests that it had rescinded the award after the Dallas-based real estate company failed to show progress. The highly sought-after credits, which the state doesn t pay out until projects are complete, will go back into a pool for future preservation-minded applicants.

United statesWest side marketCleveland museum of artTom yablonskyBryan sommersHubbell benesCleveland landmarks commissionHistoric gateway neighborhood corpOhio development services agencyHilton worldwide holdings incUnion trust buildingOhio bell buildingTodd interestsArt decoWorldwide holdingsCurio collection