Pre-Development

Predevelopment Matching Fund. A great beginning for new projects.

One of the Downtown Cleveland Alliance’s goals is to help people with big ideas for Downtown Cleveland to take the next step toward development. The Predevelopment Matching Fund provides financial support for property owners and developers of qualified downtown projects to complete crucial financial and architectural feasibility studies, design development studies, prospective appraisals and historic tax credit qualifications. These studies help to determine the viability of a project before a significant investment is made, and by facilitating them, we support serious developers, property owners and stakeholders.

In recent years, a number of stakeholders have accessed the Predevelopment Matching Fund and funds of other downtown organizations including Historic Gateway Neighborhood, Historic Warehouse District Development Corp., the Quadrangle Inc., Flats Oxbow Association and the Cleveland Theater District Development Corp.

Through generous support from the Cleveland Foundation, The George Gund Foundation, and the Kent H. Smith Charitable Trust, a number of predevelopment studies on Downtown projects have been funded. In addition, numerous matching grants have been made totaling hundreds of thousands of dollars. Project uses have included architectural and housing feasibility studies, a downtown grocery store, mixed-use retail and parking, art space and a museum. And positive outcomes? Absolutely. Projects that received predevelopment grants have resulted in either completed or under-construction values in the millions of dollars. Do you have a Downtown project that could benefit from Predevelopment Funding? Contact us.