Hopkins Airport is set for a $1.1 billion transformation
Why it matters: The project is the most ambitious in Hopkins' history and offers a jolt of energy for a facility routinely ranked at or near the bottom of its class in customer satisfaction.
"For us to have a world-class city, we need to have a world-class airport," Mayor Justin Bibb said as officials unveiled a suite of architectural renderings.
Yes, but: The revamp will take years to complete and remains in its early conceptual stages. Hundreds of millions more dollars must be approved before a new terminal rises, and the current plans and pictures are subject to change.
The grand, glass, wave-like structure depicted in the renderings (if built according to the current timeline and budget) wouldn't open to passengers until 2032.
That said, changes are definitely on the horizon.
Airport officials have heard complaints about the grim passenger experience "loud and clear," Hopkins director Bryant Francis told reporters, noting short-term improvements will be made as CLEvolution rolls out in phases.
State of play: Early last year, Hopkins' main airline partners approved spending $175 million to begin modernizing the terminal, a project that began with the demolition of the Sheraton hotel to make way for more parking.
Last week, the airlines approved an additional $301 million to fund additional parking capacity and pave the way for the broader transformation.
What's next: A new 1,600-space lot — the Gold Lot — will debut in 2026.
Once operational, a new vertical garage will be constructed on the site of the current Orange Lot. It will include a new ground transportation center and RTA rapid stop.
Once that garage is completed in 2029, the current Smart Parking garage will be demolished to make way for the new terminal.
Between the lines: Francis noted Tuesday that when Hopkins was a Continental hub, most of the passengers in Cleveland were passing through.
The evolution of Hopkins as an "origin and destination" airport has necessitated increased space for curbside pickup, ticketing and security.
Reality check: A prominent sign at Tuesday's media event reminded attendees that all visual materials were intended for "conceptual and illustrative purposes only."
"They do not represent the final design, specifications, or materials and are subject to change without notice."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Travel Weekly
6 days ago
- Travel Weekly
Atlas Ocean Voyages creates junior suite category
Atlas Ocean Voyages said it is rebranding several staterooms as junior suites and introducing new amenities to distinguish and elevate their value. The staterooms transitioning into junior suites are the former Horizon, Horizon Deluxe and Veranda Deluxe accommodations. Each will now have "junior" in its name and together they will be branded as the Concierge Collection. In addition to welcome canapes and laundry service, guests in Concierge Collection rooms can access 10% savings on spa services, premium WiFi and the onboard boutique; priority access to the behind-the-scenes galley tour; and enhanced in-suite amenities. Guests in higher-tier staterooms will also access the Concierge Collection amenities. The cruise line decided to rebrand the suites and add new amenities to enhance the distinction between the midsize Concierge Collection staterooms and those with the smallest interiors: the veranda stateroom and adventure oceanview, said Jason O'Keefe, Atlas' senior director of guest experience and corporate communications. Adding amenities with the junior suites clarifies that they are a more premium option, O'Keefe said.
Yahoo
6 days ago
- Yahoo
The Retirement Account That Could Cut Your Taxes — Forever, According to a CFP
Question #6 of GOBankingRates' Top 100 Money Experts Series What is a Roth 401(k), and how does it differ from a traditional 401(k)? One of the many challenging aspects of retirement planning is picking the smartest vehicles in which to save and grow your funds. Most people are familiar with traditional 401(k) accounts, typically offered through an employer. For You: Learn More: However, many people are skipping over the Roth 401(k) — if they even realize it's an option. So what's the difference, and why might you choose one over the other? To explore the distinctions, GOBankingRates spoke with Jamie Hopkins, CEO of Bryn Mawr Trust Advisors and chief wealth officer for WSFS Bank. He is also a financial services industry advocate, a Wall Street Journal best-selling author, and founder of the FinServ Foundation, a nonprofit dedicated to helping college students reach their full potential through coaching, mentorship and community. Breaking Down the Differences: Traditional 401(k) vs. Roth 401(k) Hopkins said it's a little 'misleading' to think of Roth and traditional 401(k) plans as entirely separate savings vehicles. They're fundamentally the same type of account — employer-sponsored retirement plans — but they differ in how your contributions and withdrawals are taxed. A traditional 401(k) is an employer-sponsored retirement savings plan that allows for salary-deferral contributions from employees and matching contributions from employers. That means you put money into this type of account before you pay taxes on it, which reduces your taxable income in the year you contribute. You then pay taxes on the money when you withdraw it in retirement. A Roth 401(k), in contrast, is funded with after-tax dollars. Hopkins explained, 'This means taxes are paid before the money is contributed to your retirement account.' The major benefit of a Roth 401(k) is that the money grows tax-free, instead of tax-deferred. Withdrawals in retirement are also tax-free, as long as two conditions are met: The account must be open for at least five years The withdrawal must occur after a qualifying event, typically reaching age 59½ 'While there are other slight differences, the core distinction between a Roth account and a tax-deferred traditional account is when you pay taxes,' Hopkins said. Read Next: Mitigating Taxes on Social Security and Medicare One of the best reasons to open a Roth 401(k) is to get your taxes out of the way before retirement, Hopkins said. Doing so can reduce your taxable income in retirement, and may also help you avoid or minimize taxes on Social Security and reduce your Medicare premiums. 'If most of your income outside of Social Security comes from a Roth account, you may be able to avoid taxation on Social Security benefits and stay within the lowest Medicare premium tiers,' he explained. Traditional 401(k) withdrawals, on the other hand, defer your taxes on the front end and place the burden of taxation on you in retirement — increasing your overall taxable income at a time when you'd prefer to keep it low. This could mean paying higher Medicare premiums, partial taxation of Social Security benefits and reduced eligibility for need-based programs like Medicaid. Key Advantages of a Roth 401(k) If you're still not quite sure which one to go with, here are some of the standout benefits of a Roth 401(k), according to Hopkins: Tax Diversification: Having money spread across taxable, tax-deferred, and tax-free (Roth) accounts gives you more flexibility. Hopkins emphasized that tax diversification helps you manage changing tax rates throughout retirement. 'If tax laws or your personal situation shift, you'll have more control over how and when you pay taxes,' he said. No RMDs for Roth IRAs: While Roth 401(k)s are subject to required minimum distributions (RMDs) beginning at age 73, you can avoid those by rolling your balance into a Roth IRA before that age. 'This gives you more control over when you withdraw funds and allows your money to continue growing tax-free,' Hopkins said. Greater After-Tax Savings Power: On an after-tax basis, Roth contributions may give you more net retirement income. For example, if you contribute $5,000 pre-tax into a traditional 401(k) and your tax rate is 20%, you'd end up with $4,000 after taxes at withdrawal. If you contribute $5,000 after-tax into a Roth 401(k), the full $5,000 can be withdrawn tax-free. However, it would have taken $6,250 in pre-tax income to net that $5,000 in a Roth — so it's important to understand the real trade-offs. Deciding if a Roth 401(k) Is Right For You When weighing whether a Roth 401(k) is the right fit for your retirement strategy, Hopkins recommends asking the following: Do you want to hedge against future tax increases? If so, contributing to both Roth and traditional accounts can provide protection and flexibility. Do you want more control over when to take distributions in retirement and potentially avoid RMDs? If yes, consider the Roth. Do you expect your personal tax rate to rise over time — due to income growth, policy changes, or reduced deductions? Paying taxes now via Roth contributions might be the better choice. 'On the flip side, if you expect to be in a lower tax bracket in retirement, deferring taxes with a traditional 401(k) may be more advantageous,' Hopkins noted. If you're still not decided, don't stress about choosing between the two accounts. 'At the end of the day, the most important thing is to save and invest consistently,' Hopkins said. 'There's no perfect answer.' He often advises splitting contributions between both types of accounts to enjoy the benefits and flexibility of each. This article is part of GOBankingRates' Top 100 Money Experts series, where we spotlight expert answers to the biggest financial questions Americans are asking. Got a question of your own? You could win $500 just for asking — learn more at More From GoBankingRates I'm an Economist: Here's When Tariff Price Hikes Will Start Hitting Your Wallet 3 Little-Known Social Security Rules That Could Save You Thousands Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why 3 Advanced Investing Moves Experts Use to Minimize Taxes and Help Boost Returns This article originally appeared on The Retirement Account That Could Cut Your Taxes — Forever, According to a CFP
Business Wire
11-08-2025
- Business Wire
HRZN Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Horizon Technology Finance Corporation Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Horizon Technology Finance Corporation (NASDAQ: HRZN) and Monroe Capital Corporation is fair to Horizon shareholders. Halper Sadeh encourages Horizon shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ or zhalper@ The investigation concerns whether Horizon and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Horizon shareholders; and (2) disclose all material information necessary for Horizon shareholders to adequately assess and value the merger consideration. On behalf of Horizon shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
