Developer MRN will convert two floors of existing office space in the 10-story United Bank Building to residential use. The office tenants will be relocated within the building. Ohio City continues to see strong demand for market rate apartments. The United Bank Building units, studios and one-bedrooms, will be available in early 2019.
Project Partners: Continental Casualty Company
| Completed | 2019 |
|---|---|
| Location | 2012 W 25th Street, Ohio City |
| Project Type | Residential; Renovation |
| Program | 25 apartments |
| Sponsor | MRN, Ltd. |
| CDA Investment | $2.65 million loan from ACDF |
| Total Project Costs | $4.5 million |
| Community Demographics | Poverty Rate: 45% Median Income: 36.8% Unemployment Rate: 23% |
This project provides a district strategy identified in the Connecting Cleveland 2020 Citywide plan for the Ohio City neighborhood, specifically to establish a mixed-use district around the West 25th St – Lorain Ave intersection.
The project is located on a major bus route and directly across the street from the Ohio City Rapid Station.