Samsel Supply Building on Cleveland’s Old River Road Awarded $5 Million in Ohio Historic Preservation Tax Credits by the DeWine Administration

CLEVELAND, OH - Ohio Governor Mike DeWine and Ohio Department of Development Director Lydia Mihalik announced today that the Samsel Supply Building at 1235-1285 Old River Road has been awarded $5 million in Ohio Historic Preservation Tax Credits. The project's application was filed on behalf of GBX Group LLC, and the award is part of $86 million in tax credits announced today to support the rehabilitation and reuse of historic buildings across Ohio.

Located in Cleveland's Old River Road Historic District, the project includes two connected historic buildings, one dating to approximately 1895 and another constructed in 1916-1917. The buildings are closely tied to Cleveland's industrial riverfront history and have long been part of the Flats' historic built environment.

GBX Group continues to advance design and construction documents for the project and envisions a mix of residential and commercial uses for the historic property.

"We are grateful to Governor DeWine, the Ohio Department of Development, and the State of Ohio for their continued support of historic preservation and riverfront revitalization," said Brian Cappelli, President of Real Estate Investments for GBX Group. "This award is a critical factor in making the Samsel Supply Building redevelopment feasible and will help preserve an important piece of Cleveland's industrial history while bringing new housing, commercial activity, and energy to Old River Road. We see this project as an important part of the broader momentum happening along Cleveland's waterfront."

The planned redevelopment will transform approximately 150,000 square feet of former industrial and commercial space into a mixed-use development. Current plans feature approximately 103 residential units, ground-floor commercial and retail space, resident amenities, and on-site parking. Total project investment is estimated at approximately $51.8 million.

The Ohio Historic Preservation Tax Credit award will help support the rehabilitation and adaptive reuse of the historic buildings as GBX continues to move the project forward. Located along a historically significant corridor between downtown Cleveland and the Flats, the project area reflects the connection between the city's industrial past and the next chapter of riverfront investment.

View the full Ohio Department of Development announcement: Governor DeWine Announces State Support for 37 Historic Preservation Projects | Development

About GBX Group

GBX Group LLC specializes in acquiring, preserving and operating historic real estate in urban markets. The company partners with investors to fund the acquisition and preservation of historic real estate with the goal of generating community revitalization and economic growth. As of January 2026, GBX has been involved in 216 real estate projects in 24 states. For more about GBX, visit gbxgroup.com/.

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