Union Gospel Press redevelopment moves forward
by Chuck Hoven

(Plain Press, September 2008) The fifteen building Union Gospel Press complex on W. 7th between Jefferson and College is being converted into 103 rental units, says Mryl Roberts, a representative of UGP Properties LLC, the limited partnership set up for the project. Roberts says in addition to the apartment units, there will be a small retail space for a coffee shop at W. 7th and Jefferson.  A health facility will be created as well, and will be available to residents of Union Gospel Press and possibly open to the public, said Roberts.

Roberts estimates the cost of the redevelopment to be roughly $20 million dollars. He says financing for the project includes loans from Key Bank, National City Bank, and a bridge loan from Village Capital Corporation. In addition, the project is receiving financing through the sale of three different forms of tax credits-- a federal historic tax credit, a state of Ohio tax credit, and a new market tax credit from the Port Authority.

Roberts says his brother, Stavros Roberts, initially purchased the building in 2003 from Joseph Scully. He says the property was later placed into UGP Properties, LLC to meet conditions necessary for the complex financing via tax credits.

According to City of Cleveland records, a construction permit was first applied for in August 2005, final payment for the permit was received in June of 2007. Work on the project began late in 2007 and is expected to take two years to complete. The contractor is listed as Dana G. Noel of Jera Contractors, part of Corvallis Development. Roberts says the contractors now have an office at 2190 Professor Avenue.

Because of the financing, Roberts says the 103 apartment units must remain as rental units for 7 years. He says after that time period they will probably be converted into condominiums.  

Roberts says the complex will have 150 parking spaces on site. Additional spaces are being created on the streets around the complex to handle guests and will be open for public use as well.

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