Hoster Brewery Redevelopment Wins Tax Credits
Dwight McCabe, the developer behind a plan to redevelop the historic Hoster Brewery complex, received some good news from the State of Ohio today.
The Ohio Development Services Agency announced that the $70 million project has been awarded $5 million in Ohio Historic Preservation Tax Credits.
The Brewery District development, located at 477 S. Front St., is the only Columbus project among 28 historic rehabilitation projects statewide that were awarded the tax credits.
Plans for the complex, which were first made public last year, call for a boutique hotel, office and coworking space, a spa and fitness facility, several event spaces and a brewery.
The tax credits, which are awarded by the state twice a year, are used by developers to help close funding gaps for historic renovation projects that would otherwise prove challenging to complete.
The total dollar amount of credits awarded in this round is just over $28 million, which will go toward the rehabilitation of 49 historic buildings. The Ohio Development Services Agency said in a press release that all together, “the projects are expected to leverage approximately $280 million in private investments in 13 communities.”