Feds award $32 million loan for office building at Cleveland's Flats East Bank project

Another key piece of financing for the $275 million Flats East Bank Neighborhood project is falling into place.

U.S. Sen. Sherrod Brown, D-Avon, announced that the U.S. Department of Housing and Urban Development plans to award a $32 million loan for the office tower component of the project. A news release from Sen. Brown's office said he repeatedly had urged HUD to approve the loan.

“This news will keep over a thousand good-paying jobs in Cleveland and create hundreds more construction jobs,” Sen Brown said.

The project includes a new office tower that will house the Ernst & Young accounting firm and the Tucker Ellis & West law firm, as well as a hotel, retail space and a parking garage.

(Article courtesy of CrainsCleveland.com)