News from the Plain Dealer: Hudson Holdings wins $25 million 'catalytic' tax credit for project in Cleveland

Reporter Michelle Jarboe at The Plain Dealer has this news about a Hudson Holdings project in Cleveland, Ohio. A crucial vote is scheduled in Lake Worth, Florida, on another Hudson Holdings project: the renovation and development of the Gulf Stream hotel project—you can read about that here. Below are two excerpts from the article in The Plain Dealer:

     A $270 million plan to revive a nearly vacant building at one of downtown's most visible intersections got a big boost Wednesday, with the announcement of a highly coveted, and competitive, tax-credit award.
     The former Huntington Building snagged $25 million in state tax credits reserved for "catalytic" historic-preservation projects – redevelopments packing the greatest potential economic punch. Hudson Holdings of Florida bought the massive building in June and plans to fill it with hundreds of apartments, a hotel, traditional offices, creative live-work space, retailers, restaurants and event facilities.

[and. . .]

     "Obviously we're not happy," Carney [developer John Carney and his May Co. project lost out to Hudson Holdings] said Wednesday afternoon. "We think the most important project for downtown Cleveland was the May Company project because of where it's located, because it's been dilapidated for years. And the Huntington Building is still a good-looking building.
     "By the same token," he added, "we want to congratulate the owners of the Huntington Building. It's $25 million coming to Cleveland."