Port of Cleveland advances financing for 80-unit mixed-income project in Hough
The Port of Cleveland board approved financing actions July 9 for Gateway 66, a planned mixed-income residential development in Cleveland’s Hough neighborhood that is expected to include 80 affordable housing units.
The board action is a financing step for the proposed development, not an announcement that construction has begun or that the project is complete. The Port of Cleveland’s release identifies Gateway 66 as one of the housing and mixed-use investments addressed by the board.
Planned for vacant East 66th Street land
Gateway 66 is planned for approximately 1.6 acres of vacant land on East 66th Street. The development is described by the port as mixed-income, while the announced housing count is 80 affordable units.
The project remains a plan based on the information released with the board action. The announcement does not provide a construction start date or a completion date.
It also does not state Gateway 66’s total development cost or identify the specific financing instrument approved by the board. The action should therefore not be characterized as a grant based on the available information.
Part of broader financing actions
The port said its July 9 financing actions advance more than $200 million in housing and mixed-use investments across Northeast Ohio. Gateway 66 is one of the developments included in that broader activity.
For Hough, the announced proposal would place 80 affordable units on a vacant East 66th Street site if the planned development proceeds. The port’s announcement does not specify how the more than $200 million in broader investments is allocated to Gateway 66.
What is known next
The board’s July 9 approval is the confirmed next step publicly identified for Gateway 66. No further project milestone, construction timetable or completion deadline was included in the port’s announcement.
The available details establish the project’s proposed location, its mixed-income designation and its expected affordable-unit count, but do not establish when residents could move in. Additional project scheduling and cost information was not provided in the announcement.