Cleveland’s Renovated Public Square Now a Thriving Hub for the City’s Downtown
The philanthropic and private sector commitment for the project totaled approximately $32 million, with The Group Plan Commission securing $8 million from The Cleveland Foundation, $5 million from The Gund Foundation, $4 million from KeyBank and $1 million from the Kent H. Smith Charitable Trust. Redirected tax increment financing from the former Higbee Building added another $9 million for the project.
In addition to construction costs, corporations and foundations have pledged $3.8 million through 2020 for event programming. The Group Plan Commission’s overall programming goal is $6.8 million.
City leaders have said in recent months that they hope the early success of the Public Square project will lead to more major downtown events in the future, perhaps including another national political convention.
Joe Marinucci, President and CEO of the Downtown Cleveland Alliance, told Cleveland.com, “We have the ability to deliver. We’ve been able to bring a worldwide audience here and do it in a very safe way.”