Cleveland Development Advisors announced it has closed on $11.5 million in state and federal new markets tax credits (NMTC) along with a $612,000 capital campaign bridge loan for the CentroVilla25 on November 21, 2023. This project serves as a pivotal anchor in the...
CLEVELAND, November 9, 2023 — Cleveland Development Advisors (CDA) is loaning $5.5 million for a project that will completely make over a West Park neighborhood school into reasonably priced market rate apartments. The $14.9 million historic renovation of the former...
Built in 1972 as one of the first projects built after Cleveland’s Hough Riots, Martin Luther King Jr. Plaza was meant to serve as a beacon of progress for Black entrepreneurship and the rebuilding of the Hough community. Over time, however, widespread disinvestment in the neighborhood eroded retail, leaving the shopping center largely vacant.
Fourteen promising entrepreneurs from diverse backgrounds have been selected to participate in an innovative new real estate development program with a clear mission: to break down historical barriers and empower these individuals with the knowledge and tools needed...
Take a drive through Cleveland’s Gordon Square neighborhood, and it’s the building that surely stands out.
$50 million went into the Welleon, a 7-story 127-unit apartment, restaurant, and wellness complex, where the first tenants have recently moved in.
A new program aims to boost the ranks of minority real estate developers in Cleveland — and to give them the tools, from money to financial know-how, to put shovels in the ground.
The Midtown Collaboration Center (MCC) – An additional Cleveland Foundation project positioned to bridge downtown Cleveland with University Circle – recently closed on construction financing. Cleveland Development Advisors (CDA) provided a $10 million New Markets Tax...
CDA’s annual investor report is out. In it, we highlight last year’s investments and we are proud to announce that we hit a major milestone: more than half a billion dollars invested in projects that are creating catalytic growth and opportunity in #CLE.
Cleveland Development Advisors (CDA), an affiliate of GCP, will provided a $2.5 million bridge loan and a $5 million allocation of New Markets Tax Credits (NMTCs) to support the renovation of the nonprofit May Dugan Center in Cleveland’s Ohio City neighborhood. For...
March 1, 2022 Cleveland Development Advisors, announced that nearly $20 million of an available $50 million in federal New Markets Tax Credits have been finalized for use to help fund two local projects.