Cleveland Development Advisors closed on financing for CentroVilla25, providing $10.5 million of federal new markets tax credits (NMTC) allocation, $1 million of state NMTCs, and $612,891 capital campaign bridge loan.
Cleveland Development Advisors loaning $5.5 million for redeveloping Hawthorne School into apartments
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...
Cleveland Developer Aims to Create Generational Wealth by Redeveloping Once-Bustling Plaza
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.
Inside the brand-new, high-end $50 million apartment building in Gordon Square
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.
MRN’s redo of Voss property seeks Cleveland aid on taxes
Midtown Collaboration Center receives $10 million New Markets Tax Credit allocation from Cleveland Development Advisors to support construction of unique job creation hub
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 2023 Investor Report
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.
Food producer wins $9.6 million USDA grant for project on Cleveland’s East Side
International Food Solutions bought a former Goodwill building in Cleveland’s Central neighborhood in November. The meal-production company plans use the building as a poultry-processing plant with more than 200 employees.
Cleveland-based groups win $80 million in federal New Markets Tax Credits to aid projects
Two Cleveland-based community development organizations collectively nabbed $80 million in federal tax credits last week to support investments in low-income neighborhoods. CDA was awarded $35 million in NMTC..
$80 Million In New Market Tax Credits Awarded To Cleveland
CDA, the real estate affiliate of GCP, has been awarded $35 million in NMTC. The Northeast Ohio Development Fund, LLC, was awarded an additional $45 million, bringing $80 million of NMTC to fund transformative projects in Greater Cleveland.