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Land for Cleveland Casino Site Sold for $85M - ABC News

Wednesday, 02 February 2011 07:43 administrator
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The owner of Cleveland's landmark Terminal Tower has sold 16 adjacent acres and air rights to casino developers for $85

million.

Forest City Enterprises Inc. on Tuesday announced the closing of the deal with Rock Ohio Caesars Cleveland LLC.

The land overlooks the Cuyahoga (ky-uh-HOH'-guh) River in downtown Cleveland and sits behind the Tower City Center shopping, restaurant and office complex.

Ohio voters approved casinos in Cleveland, Cincinnati, Columbus and Toledo. The company led by Cavaliers owner Dan Gilbert will develop the Cleveland and Cincinnati casinos.

Gilbert plans a news conference Thursday to update the Cleveland casino project.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.



Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFXlNi9znFdHFLdSbLRTxdItc9JrQ&url=http://abcnews.go.com/Business/wireStory?id=12820253

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