CLEVELAND -- Financing has been approved paving the way for an expansion of Cleveland's Steelyard Commons shopping area.
Cuyahoga County Council and County Executive Ed FitzGerald have approved the issuance of $5 million in economic development bonds that will finance the 197,000 square foot expansion
Construction is expected to begin this month. The expansion is projected to bring in $20 million a year from retail sales.
Steelyard Commons opened in 2007 after an old steel mill site was repurposed in a first of its kind project. Steelyard Commons created 1,100 new jobs.
The bonds will be repaid by revenue generated from the expanded retail space.