CDA invests in new home for The Children’s Museum of Cleveland

Cleveland Development Advisors (CDA) provided an $8 million New Markets Tax Credit (NMTC) allocation for the new Children’s Museum of Cleveland (CMC).  CMC has acquired and is renovating the Stager Beckwith mansion on Euclid Avenue in MidTown, one of the last remaining mansions of Cleveland’s historic Millionaire’s Row.  This three-acre property is conveniently located two blocks from I-90 and on the Healthline.  It will provide the museum a larger home complete with green space for an outdoor play area and ample parking.     

CMC is Northeast Ohio’s only museum exclusively dedicated to young children.  The new facility will provide an early childhood education and cultural experience to over 100,000 children and their families annually. 

Chase served as the NMTC investor and Huntington National Bank provided a bridge loan for capital campaign pledges.  This project also marks the first loan made from CDA’s Community Reinvestment Fund.    

The museum will open late 2017.