Ohio awards historic tax credits to two Canton projects
CANTON − State officials on Tuesday announced $64.1 million in historic preservation tax credits awarded to 21 communities, including Canton.
The Renkert Building at 306 Market Avenue N and the former Folwell-Zollinger or Granger office building at 111 Second St. NW each received money through the Ohio Historic Preservation Tax Credit Program administered by the Ohio Department of Development.
The Renkert Building received $4.77 million ― which is in addition to $5 million in historic preservation tax credits it received last year ― and the Folwell-Zollinger building received $2 million.
The state also awarded the Renkert $3.4 million for asbestos removal through the Ohio Brownfield Remediation Program, which was announced in April during a visit from Gov. Mike DeWine and other lawmakers, and $4.2 million in transformational mixed-use development tax credits.
Developers Steve Coon, of Coon Restoration & Sealants, and David Crisafi, of Ceres Enterprises, are converting the city's first skyscraper into a 92-room, extended-stay hotel with a restaurant and event space. It will be called the Century Plaza Hotel and operate under the Marriott brand.
The Renkert project is estimated to cost $50 million total, according to the state announcement.
Coon also is renovating the Second Street building into market-rate apartments. The total project is estimated to cost $10.6 million and will result in 24 one- and two-bedroom units with first-floor commercial space.
Reach Kelly at 330-580-8323 or kelly.byer@cantonrep.comOn Twitter: @kbyerREP
This article originally appeared on The Repository: Ohio awards historic tax credits to two Canton projects
