The Residential Project involves the construction of 194-units of market rate apartments.  The unit sizes will range from 500-1,100 square feet and include 30 studios, 120 one-bedrooms, and 44 two-bedrooms.  This investment promotes the public welfare by executing a development opportunity identified in the Connecting Cleveland 2020 Citywide plan for this site, specifically to develop mixed-use residential and retail/office on this site. 

Project Partners:  First Merchants Bank

Project Details

Completed Under construction - 2018 completion
Location 2550 Detroit Ave.; Ohio City neighborhood
Project Type Residential; New construction
Program 194 apartments
Sponsor The Snavely Group
CDA Investment $2.5 million loan
Total Project Costs $38.1 million
Community Demographics Poverty Rate: 37.2%
Median Income: 149.5%
Unemployment Rate: 12.9%

Impact

  • Diversity and Inclusion

    The project sponsor committed to construction participation goals for Minority, Female, and Cleveland Small Business (MBE/FBE/CSB) as well as minority, female and City of Cleveland residents.

  • Environmentally Sustainable Outcomes

    The new construction is following the Enterprise Green Communities guidelines.

  • Executed Community Benefits Agreement

    The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.

  • Advances Neighborhood Revitalization

    The project will create a vibrant connection between Ohio City, Hinge Town and the Gordon Square Arts District.