Cleveland, OH
Residences at 700 in Former United Church of Christ Building Downtown Set to Begin Construction After Receiving State Tax Credit
Mark Oprea
With funding secured, construction of the Residences at 700 will begin, K&D said, in October.
Prospect Avenue downtown is about to seem a little less quiet.
On Wednesday, K&D Development, the owners of the property once home to the United Church of Christ, announced that they received a $4 million Ohio State Historic Preservation Tax Credit. That money will cap off K&D’s fundraising push for what’s a $46 million conversion from offices into apartments. It was one of 11 Northeast Ohio projects that received awards this week.
The reactivation of the Electric Building will bring some 120 apartments into the eight-story building, previously home to a collection of office spaces. Construction is slated to begin in October.
That $4 million, K&D spokesperson Aaron Price told Scene, should allow the Residences to keep its rents at so-called market-rate. Namely, one-beds and studios starting at $1,200 and “focused on downtown workers.”
Such a tax credit “allows us to get the price down a lot,” Price said Wednesday. “We’re not really doing anything that’s like ultra luxury, so that’s cool.”
The Residences’ greenlight, as Price framed it, will help to activate a street in Cleveland’s Gateway District that’s had its highs and lows over the past half decade.
In October of 2021, the Winking Lizard’s Gateway spot shuttered, citing pandemic-era staffing issues and unsuitable rents; in late 2023, the Fitworks gym across the way went. And the May Co. Building down the block has struggled to fill its ground-floor retail since its rehab wrapped up in 2020.
Last summer, Geraci’s Restaurant opened up a throwback Slice Shop across the street, with great fanfare and nighttime hours, though hours have turned sporadic this year.
The 124-year-old Electric Building, recognizable for its fiery-red brick facade and tall dark windows overlooking the sidewalk, will also be host to, Price confirmed, an “elevated sports bar concept” that K&D and broker CBRE will wrap up with a deal in mid-July. Price hinted the restaurant is a “national chain” that “will make downtowners happy.” (And “not another BW3,” he joked.)
Despite relatively rough economic headwinds, Downtown Cleveland has seen its share of developmental triumphs in the past two, three years.
The Residences at 700 will join surrounding complexes turning vacant or unused century-old buildings into white-walled towers touting city living—from the City Club Apartments off Euclid Avenue, to the Ten60 Bolivar near Progressive Field, The Bell in the idled Cleveland One Center and hundreds of new units (mostly for theater workers) at the Bulkley Building in Playhouse Square.
And just on Tuesday, the idling Rose Building, once home to Medical Mutual, was put on the conversion train as well. Developers Spark GHC announced their intentions to rehab one of Downtown’s first office buildings into a mixed-use complex of apartments, hotel rooms and a long-awaited retail space.
The Residences at 700, Price said, will see its first tenants move in next spring.
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Cavs center Thomas Bryant thought he had the rookie, until he didn’t.
Cleveland Cavaliers center Thomas Bryant learned the hard way that karma moves quicker than Donovan Mitchell in transition.
Bryant was on the wrong side of a replay after backing down Charlotte Hornets rookie Kon Knueppel for a hook shot.
The journeyman center couldn’t resist an over-the-top celebration … so Bryant flexed his way downcourt, hitting the “too small” gesture at the 20-year-old. Then, gravity struck. Hard.
CLEVELAND, OH – DECEMBER 22: Miles Bridges #0 of the Charlotte Hornets drives to the basket as Thomas Bryant #3 of the Cleveland Cavaliers plays defense during the game on December 22, 2025 at Rocket Arena in Cleveland, Ohio. (Photo by David Liam Kyle/NBAE via Getty Images)
Bryant tripped over thin air, barrel-rolling across the hardwood as he ran back on defense. The Rocket Mortgage FieldHouse crowd went from cheers to raspberries … with the tumbling Bryant looking very small on the floor.
WATCH:
There’s no question Bryant wishes he were riding the same high that Kon has all season.
The rook is leading the Rookie of the Year race, averaging 19.4 points, 5.4 rebounds and 3.6 assists. While Bryant celebrated his layup against a smaller defender, Knueppel celebrated his 100th made three-point shot in just 29 games.
Social media roasted the big man for celebrating too early. “Ball don’t lie is undefeated. Don’t disrespect the opponent when you’re ‘Thomas Bryant,’” one fan posted on X.
The 6-foot-10 vet, who inked a deal with Cleveland this offseason to add some interior muscle, is not expected to do much from the limited scorer.
Go for the fist pump next time, pal.
Send us your thoughts: alejandro.avila@outkick.com / Follow along on X: @alejandroaveela
What: Charlotte Hornets (9-19) (3-11 away) at Cleveland Cavaliers (15-14) (9-8 home)
When: 7:00pm Eastern
Where: Rocket Arena; Cleveland, OH
How to watch: Peacock, FanDuel Sports Network, NBA League Pass
Outfitting: Hornets–Statement (purple), Cavaliers–City (orange)
Game Lines: Hornets +9.5, Hornets money line +310, O/U 238.5
Injuries:
Hornets: LaMelo Ball-probable (wrist), Ryan Kalkbrenner-questionable (elbow), Collin Sexton-doubtful (quad), Grant Williams-out (knee)
Cavaliers: Donovan Mitchell-probable (illness), Craig Porter Jr.-probable (illness), Sam Merrill-probable (hand), Evan Mobley-out (calf), Larry Nance Jr-out (calf), Max Strus-out (foot)
The Hornets are finally getting healthier (for now). LaMelo Ball clearly tweaked his wrist getting knocked over during a brutally physical game against the Pistons, but he seems to be no worse for the wear. Kalkbrenner apparently took a knock too, but he could still gut it out. Sexton probably isn’t playing, but the fact that he’s gone from out to doubtful means that he’s close. That leaves Grant Williams as the only remaining injured Hornet as he works back from the torn ACL he suffered last year. Knock on wood.
They should be feeling good about their chances tonight. They may have gotten drubbed by the Pistons, but they will remember that they beat this very seem Cavs team in this very same arena just eight days ago. Kon Knueppel led the way with 29 points while Brandon Miller and Miles Bridges chipped in decent games as well. And LaMelo didn’t even play. He’s only going to add to the offensive firepower.
The Cavs, meanwhile, played two games against the Bulls between that last meeting and now, and they lost them both by double digits. Both games followed roughly the same pattern. The Cavs were able to score just fine, but they had no answer for a Bulls offense that’s pretty mediocre. A Hornets team with LaMelo Ball and Kon Knueppel should have no problem scoring points. They’ll just need to keep Donovan Mitchell reasonably in check, and they have a chance to take another game in Cleveland.
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Who: Cleveland Cavaliers (15-14) vs Charlotte Hornets (9-19)
Where: Rocket Arena – Cleveland, OH
When: Monday, Dec. 22 at 7:00 pm EST
TV: Peacock, FanDuel Sports Network Ohio, FanDuel Sports App
Point spread: Not yet set
Cavs injury report: Donovan Mitchell – PROBABLE (illness), Sam Merrill – PROBABLE (hand), Craig Porter Jr. – PROBABLE (illness), Evan Mobley – OUT (calf), Larry Nance Jr. – OUT (calf), Max Strus – OUT (foot), Chris Livingston – OUT (G League), Luke Travers – OUT (G League)
Hornets injury report: LaMelo Ball – PROBABLE (WRIST), Ryan Kalkbrenner – QUESTIONABLE (elbow), Liam McNeeley – OUT (G League), Drew Peterson – OUT (G League), Antonio Reeves – OUT (G League), Collin Sexton – DOUBTFUL (quad), Grant Williams – OUT (knee)
Cavs expected starting lineup: Darius Garland, Donovan Mitchell, Jaylon Tyson, Dean Wade, Jarrett Allen
Hornets expected starting lineup: LaMelo Ball, Brandon Miller, Kon Kneuppel, Miles Bridges, Ryan Kalkbrenner
Previous matchup: The Cavs lost in overtime to the Hornets on Dec. 14.
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