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11
a.m., Cleveland
As the sun shines over
Cleveland's Buckeye-Shaker
neighborhood, a dozen
families are moving into
freshly renovated apartments,
shoppers fill the nearby
retail stores and people
start gathering at sidewalk
cafes for a gourmet lunch.
Things weren't always so bright, especially near the Moreland Greens Apartments,
a 15-building, 270 unit housing complex. Over the years, the 1940s buildings
had fallen into disrepair and the adjoining properties also began to destabilize.
The Shaker Square Area Development Corporation convened officials from federal
and local government, a variety of community groups and financial institutions
to create a plan to rehabilitate the massive housing complex. The $15 million
effort would turn the property into a mixed-income housing complex and lower
its density to 10 buildings. ShoreBank provided the gap financing for the
ambitious project.
Now named Livingston
Park Apartments, two
of the buildings are
completed and work has
started on others, including
a $2 million flagship
building with 15 deluxe
suites. What was once
the blight of the neighborhood
is now a crown jewel
in the making.
"Whenever good things
are happening in this
city, ShoreBank is standing
side by side there with
us," says Cleveland
Mayor Jane Campbell.
ShoreBank is committed
to creating vibrant communities
where people can thrive
and prosper. |
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