St. Clair Hotel Building on Near East Side Being Sold to Developer
Community Housing Network (CHN) is in contract to sell the former Hotel St. Clair on the Near East Side.
The affordable housing nonprofit announced in August its plans to sell the building, and has now confirmed that it has a buyer. Tim and Mike Kelley, under the name Innisfree LLC, are currently inspecting the building and making plans for its renovation.
The historic, four-story building at 340 St. Clair Avenue holds 31 affordable senior apartments. It was purchased and renovated by CHN in 2001, but maintenance costs — and an inspection that revealed $635,000 worth of needed repairs — led to the decision to sell the building, according to spokesperson Linda Siefkas.
CHN CEO Samantha Shuler said that Ohio Capital Corporation for Housing has covered operating deficits on the property for 15 years.
“Continuing to sustain these losses would unduly jeopardize our mission to meet the community’s needs for permanent supportive housing,” she said. “Given the great demand for the housing we offer, we have a responsibility to direct our limited resources as efficiently as possible.”
“Community Housing Network believes the Kelleys will be excellent community partners and continue CHN’s good neighbor ethic,” added Siefkas.
New affordable housing has been found for every resident of the building and most will be moved this month, with CHN covering all moving costs. St. Clair residents were given priority placement in Terrace Place, CHN’s new development on East Ninth Avenue in Weinland Park.
Representatives of Innisfree LLC – or its associated company, Donald W. Kelley & Associates – could not be reached for comment.