Crain’s Cleveland Business Report
On vacant lots in East Cleveland, a few hundred yards from the bustle of University Circle, signs posted by the Cuyahoga Land Bank warn trespassers away.
Over the last seven years, the land bank has amassed more than 200 properties in this district, at the Cleveland-East Cleveland border. Now the quasi-governmental organization is serving as master developer for 33 acres, where preliminary plans call for building hundreds of homes and luring commercial developers to a depleted stretch of Euclid Avenue.
That vision, with an estimated cost of $122 million, comes at a unique moment for East Cleveland, a once-prosperous inner-ring suburb that now ranks as Ohio’s poorest city.
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