The Warner & Swasey Company is a former manufacturer of machine tools, instruments, and speciality equipment, best known for its astronomical telescopes and turret lathes for astronomical observatories and military installations. It was founded as a partnership in 1880 by Worcester Reed Warner and Ambrose Swasey in Cleveland, Ohio.
The Carnegie Avenue plant has been closed since 1985 after the company was acquired, downsized and moved out to more modern facilities. Its derelict plant casts a long shadow at the prominent corridor of Carnegie Avenue and East 55th Street. Several stories tall and immensely large in footprint, the Warner & Swasey complex sits in the Health-Tech Corridor, a designated area for biomedical, healthcare and technology companies.
In 2010, the building was acquired for a high-tech office, laboratory and manufacturing center and environmental remediation began. A deteriorating commercial market and renovation costs that far exceeded expectations caused the project to wither and collapse.