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
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
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.