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.
Project Partners: First Merchants Bank; Somerset Trust Company
| Completed | Under Construction; 2021 Completion |
|---|---|
| Location | 75 Public Square, Downtown |
| Project Type | Mixed Use; HIstoric Renovation |
| Program | 114 apartments and 4,300 SF of Commercial Reas Estate |
| Sponsor | Millennia Companies |
| CDA Investment | $3 million loan |
| Total Project Costs | $43 million |
| Community Demographics | Poverty Rate: 31.05% Median Income: 103.81% Unemployment Rate: 6.80% |
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.
The new construction is following the Enterprise Green Communities guidelines.
The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.
