Aug 4, 2025 - Education

Why CSU turned down $5M in historic tax credits for Fenn Tower

Sam Allard

Rows of vintage cars line both sides of a wide street leading to a tall beige Art Deco building under a clear blue sky. A man walks on the right sidewalk. — Fenn Tower in the 1950s. Photo: Cleveland Memory Project, Cleveland State University

Cleveland State University declined a $5 million state historic preservation tax credit last month for its planned renovation of Fenn Tower — which would have been the largest such allocation in Cuyahoga County this year.

Why it matters: The surprise rejection raised questions about how the public university is managing its high-profile renovation projects, and why it would walk away from apparently free money.

The intrigue: CSU offered only vague reasons when first contacted by Crain's Cleveland Business, saying the tax credit was not "financially beneficial."

What they're saying: CSU spokesperson Kristin Broka elaborated in a statement to Axios, saying the university weighed "a number of considerations."

"Fenn Tower would need to be transferred to a newly formed for-profit entity, which creates significant complexity and risk to the University," she said.

Zoom out: Broka also noted that accepting the credit would have triggered additional, unbudgeted renovations to student dorm units.

That would've increased both the project's cost and timeline.

What's next: CSU's priority is ensuring Fenn Tower is ready for student occupancy by fall 2026.

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Why CSU turned down $5M in historic tax credits for Fenn Tower

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