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The redevelopment of the Broadway Building is moving forward – on paper for now and at the corner of Broadway and West Erie Avenue soon, according to the Lorain Port Authority. Spitzer Great Lakes Ltd. Co. has signed the donation agreement to give the building at 301 Broadway to the Lorain Port Authority.
LORAIN — The Broadway Building is under new management — and ownership. Lorain Port Authority Executive Director Rick Novak said Spitzer Great Lakes Ltd., the now former owner of the building, is donating it to the port authority, which will then lease it to Broadway Partners LLC.
A redevelopment plan for the Broadway Building will continue into 2017. The Lorain Port Authority board of directors on Dec. 20 granted a year-long extension on the needed agreements with Lorain Hotel Investors LLC. The company, led by Chicago-based developer James Louthen, hopes to build about 60 senior residential units in the Broadway Building.
From eyesore to eye-catching. That’s the vision of developers for the former Spitzer Plaza Hotel, which they want to convert to upscale apartments for tenants 55 and older. The proposal got a boost Thursday with the award of a $440,203 tax credit from the Ohio Development Services Agency.
ReTown has more than 100 years’ collective experience, and has designed, financed, and constructed residential, business, and land reclamation developments collectively worth more than $100 million. We excel in all phases of development.
ReTown has a wealth of experience in securing the financing to turn ideas and designs into reality. We routinely partner with both the private and public sectors, and have successfully negotiated TIF redevelopment agreements and secured grants and tax credits.
ReTown believes the heart and soul of every town and city is its community. Each community has unique opportunities and challenges. To preserve the integrity of a place and provide a better quality of life for everyone, we master-plan to reflect fundamental yet vital considerations.
Daniel Burnham: “Make no little plans. They have no magic to stir men’s blood.” With Chicago as its base camp, ReTown admires and is influenced by the work of two men who helped shape the city, architect Daniel Burnham and landscape architect Frederick Law Olmsted. ReTown President & Managing Director Jim Louthen explains: “Both Burnham and Olmsted had the ability to see …
“ReTown is a community-centric concept,” explains ReTown President & Managing Director Jim Louthen. “We truly believe that when we look at the greater good for all of the people involved in both the private and public sectors, the decisions about what to build and where and why become easier.” Alejandro Aravena is Executive Director of Elemental, a socially-motivated architectural practice based …
“We are big sports fans at ReTown,” says ReTown President & Managing Director Jim Louthen, ” and even bigger fans of our friends at Osborn Engineering, who specialize in sports entertainment technology.” Osborn Engineering was recently featured in A Piece of the Game, an Emmy award-winning TV show for people who are passionate about sports memorabilia. Osborn Engineering had a …
