Waverly and Oak

Bond Street Group will deliver the first new construction, mixed-use development along Detroit Avenue in the Gordon Square neighborhood. The property sits at the eastern gateway to Gordon Square and will activate what has been an underutilized stretch of this main commercial corridor.  The mid-rise live/work/play community will include a mix of studio, one-bedroom, two-bedroom, and penthouse units, 17,000 square feet of street level commercial space, and below grade and surface parking.

Project Partners: Premier Bank, City of Cleveland

Project Details

Completed Under construction; 2023 completion
Location 5506 Detroit Avenue; Detroit Shoreway
Project Type Mixed-Use; New Construction
Program 126 apartments, 17,000 SF commercial and 140 parking spaces
Sponsor Bond Street Group
CDA Investment $2.38 million
Total Project Costs $47 million
Community Demographics Poverty Rate: 46.7%
Median Income: 56.22%
Unemployment Rate: 6.7%


  • Neighborhood Revitalization

    The project is expected to spark additional investments on the east end of Gordon Square.

  • Diversity and Inclusion

    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.

  • Community Benefits Agreement

    The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.