Foss & Company Acts as Ohio Historic and Transformational Mixed-Use Development Tax Equity Investor for W Cleveland at Erieview Tower

CLEVELAND, Sept. 10, 2026 /PRNewswire/ -- Foss & Company, a leading tax equity syndicator, announced today it is providing tax equity investment for the Ohio Historic Preservation Tax Credits and Ohio Transformational Mixed-Use Development (TMUD) Tax Credits supporting the redevelopment of Erieview Tower, a 40-story, 1964-era landmark in downtown Cleveland, into W Cleveland, a W-branded hotel and residential community.

Located at East Ninth Street and St. Clair Avenue, Erieview Tower rises 529 feet and remains Cleveland's fifth-tallest building. Listed on the National Register of Historic Places, the tower is being converted into the first W-branded hotel in Ohio, and the first hotel under a Marriott International luxury brand to open in Cleveland since the Ritz-Carlton in 1990.

The project will feature ~19,000 square feet of shared amenity space, including lobby lounge, street level restaurant and bar, a spa and state-of-the-art fitness center; a 15,000-square-foot ballroom and other meeting spaces. A signature restaurant with event space and bar will occupy the Tower's 38th floor, roughly 480 feet above street level, offering unobstructed, 360-degree views of downtown Cleveland and Lake Erie, making it the highest rooftop restaurant and bar in the state of Ohio.

The redevelopment is expected to generate $102,613,690 in qualified rehabilitation expenditures, delivering $10,000,000 in Ohio Historic Preservation Tax Credits and $13,089,150 in Ohio TMUD Tax Credits. Foss & Company is also serving as bridge lender for these state credits.

"Erieview Tower is the kind of catalytic redevelopment our state credit and bridge financing programs are built to support," said Eric Brubaker, Partner and Managing Director at Foss & Company. "Structuring the Ohio Historic Preservation and Transformational Mixed-Use Development tax credits alongside bridge capital allows a project of this scale and complexity to move forward, and we're proud to play that role in bringing new life to a downtown Cleveland landmark."

Erieview Tower is being redeveloped by Erieview Development, with KJK serving as lead counsel and TurnDev as project manager. The W Residences are scheduled to be completed in 2027 and W hotel guest rooms, along with the 38th-floor restaurant and bar, are scheduled to open in 2028.

About Foss & Company
Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that, since its inception, has deployed over $11 billion in tax equity on behalf of insurance, banking, and other large corporate clients into historic rehabilitation projects, renewable energy, and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise in helping its partners navigate the world of tax equity investments. For more information about Foss & Company, please visit www.FossandCo.com.

This press release contains forward-looking statements based on current expectations and projections, subject to risks including changes in tax law, construction/completion risks, energy production variability, and market conditions that could cause actual results to differ materially. Foss & Company undertakes no obligation to update these statements.

SOURCE Foss & Company