Cleveland – September 10, 2026 -- Foss & Company is providing tax equity investment and bridge financing for the redevelopment of Erieview Tower, a 40-story 1964 landmark in downtown Cleveland, into W Cleveland, marking the first W-branded hotel in Ohio.
Redevelopment generates $102.6 million in qualified rehabilitation expenditures
The project is expected to produce $102,613,690 in qualified rehabilitation expenditures, unlocking $10,000,000 in Ohio Historic Preservation Tax Credits and $13,089,150 in Ohio Transformational Mixed-Use Development (TMUD) Tax Credits. Foss & Company is structuring both credit programs while also serving as bridge lender for the state credits.
Tower becomes first Marriott luxury brand hotel in Cleveland since 1990
Erieview Tower, located at East Ninth Street and St. Clair Avenue, rises 529 feet and remains Cleveland's fifth-tallest building. Listed on the National Register of Historic Places, its conversion into a W-branded hotel and residential community will mark the first hotel under a Marriott International luxury brand to open in the city since the Ritz-Carlton in 1990.
38th-floor restaurant will sit 480 feet above street level
The redevelopment includes roughly 19,000 square feet of shared amenity space, a lobby lounge, street-level restaurant and bar, a spa, and a fitness center, alongside a 15,000-square-foot ballroom and additional meeting space. A signature restaurant, bar and event space will occupy the tower's 38th floor at approximately 480 feet, offering 360-degree views of downtown Cleveland and Lake Erie and becoming the highest rooftop restaurant and bar in Ohio.
Eric Brubaker frames the deal as a model for large-scale catalytic redevelopment
"Erieview Tower is the kind of catalytic redevelopment our state credit and bridge financing programs are built to support,