The project financed tenant improvements to accommodate a new headquarters for Rosetta, the nation’s largest independent interactive agency. The growing digital marketing company relocated over 370 employees to downtown Cleveland. The balance of the building was renovated for rental residential use.
Project Partner: US Bank
| Completed | 2011 |
|---|---|
| Location | 629 Euclid Avenue; Downtown |
| Project Type | Mixed Use; Rehab |
| Program | 72,000 SF office; 97 apartments |
| Sponsor | MRN Ltd. |
| CDA Investment | $1.5 million loan from CNMIF |
| Total Project Costs | $9.3 million |
| Community Demographics | Poverty Rate: 53% Median Income: 15.4% Unemployment Rate: 18.7% |
The developer committed to construction participation goals for Minority, Female and Cleveland Small Businesses (MBE/FBE/CSB) as well as minority, female, and City of Cleveland resident workers.
The project will create 220 construction and over 200 permanent jobs.
The project is located on the RTA Healthline, the bus route that connects University Circle to Public Square.
