Project Management Consultants LLC (PMC), a subsidiary of Thompson Hine LLP, is pleased to announce that it succeeded in helping three clients receive awards from Round 35 of the Ohio Historic Preservation Tax Credit (OHPTC) Program. The program provides a tax credit of up to 35% of eligible costs, capped at $5 million per project, to leverage the private redevelopment of Ohio’s historic buildings.
- The West Side Market was awarded $5 million in OHPTC for the planned redevelopment of one of Cleveland’s most significant historic landmarks and the city’s oldest operating public market. This is expected to net the project approximately $4 million towards its remaining $18 million fundraising campaign to complete Stage 2 of the $70 million West Side Market Transformation project. In April 2025, PMC helped close on more than $50 million toward Stage 1 of the project, including more than $20 million of grants, tax credits, and loans secured with PMC support.
- A partnership between Witness Investment and MRN Family of Companies was awarded $3.25 million in OHPTC for the New England Building, the planned rehabilitation of an existing hotel at 629 Euclid Avenue in downtown Cleveland. This project will rehabilitate and upgrade the hotel floors and rooms, generating more hotel and sales tax. The project will also create a new hotel lobby in the storefront space, which will encourage more foot traffic along Euclid Avenue.
- The George F. Otte Carpet Company Building in downtown Cincinnati was awarded $2.84 million in OHPTC for the planned redevelopment of the George F. Otte Carpet Company Building in downtown Cincinnati into a boutique hotel. The redevelopment will revitalize this beautiful historic structure in the heart of Cincinnati, generating new jobs and tax revenue.
629 Euclid and George F. Otte Carpet Company Building plan to break ground in 2026. The West Side Market’s transformation is already underway. These wins enhance PMC Financial Services’ track record for securing incentives for historic rehabilitation projects, one of the firm’s strongest practice areas. PMC Financial Services and Thompson Hine’s joint national historic rehabilitation practice has significant experience with projects in Ohio, Texas and the Midwest, helping clients maximize and monetize available incentives for more than 30 historic rehabilitation projects over the past decade.
PMC and Thompson Hine have extensive experience converting historic buildings to other uses, preserving the historic fabric of our communities. The team leverages financial support from programs including historic tax credits, PACE, brownfield remediation incentives, Transformational Mixed-Use Development tax credits (Ohio), and Opportunity Zone tax credits (Ohio), to help make projects feasible.
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About PMC. Founded in 1997, Project Management Consultants LLC (PMC) is a wholly owned subsidiary of Thompson Hine LLP consisting of seasoned construction, design, finance and real estate professionals, including licensed architects, engineers, construction managers, financial strategists and experienced construction lawyers. PMC’s professionals have extensive experience in design, finance, construction consulting, construction management, partnering facilitation and owner’s representation, and work seamlessly with Thompson Hine’s lawyers to provide integrated services to the marketplace. PMC’s four primary services for the real estate, design and construction industries are owner’s representation, public and private financing consulting, project and risk management consulting, and design and construction partnering facilitation and mediation. For more information, please visit aboutPMC.com.
About Thompson Hine LLP. Thompson Hine LLP, a full-service business law firm with over 400 lawyers in 10 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by the Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/Innovation/SmartPaTH.