December 6, 2021 — Cleveland Development Advisors (CDA) is providing a $4.5 million long-term (five-year) loan with below-market rates to Western Reserve Land Conservancy that will help enable them to acquire the Euclid Beach Mobile Home Park, spanning 28 acres of lakefront land along the Cleveland-Euclid border.
Efforts to acquire the property and place it into local control date back to the 1980s. The prior property owner was contemplating the sale of the land, including to an owner that would consider developing the land into high-rise apartments or a commercial retail center.
“We are confident that Western Reserve Land Conservancy is the right entity to take control of this lakefront property,’’ said Yvette Ittu, President of CDA, an affiliate of Greater Cleveland Partnership. “The Land Conservancy has an exemplary track record of partnering with the community to create healthy and safe environments throughout the region. We have no doubt that they will be thoughtful in both how they treat the tenants and the development of a long-term strategy that will complement the investments underway in nearby North Collinwood and Euclid.”