Homeowners looking to move into Cleveland’s burgeoning Circle East District by University Circle may be eligible for up to $40,000 in financial assistance — and possibly more — through an innovative new program from the Cuyahoga County Land Bank.
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Cuyahoga Land Bank and First National Bank (FNB) have announced a new partnership to accelerate development in the Circle East District in East Cleveland by supporting homeownership. Since 2022, the land bank has been busily rebuilding this neighborhood next to University Circle from the sewers up.
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EAST CLEVELAND - July 9, 2024 Cuyahoga Land Bank is thrilled to announce the renovation of 10 homes in Cleveland and East Cleveland in the Circle East District, a 30-acre neighborhood directly adjacent to Lake View Cemetery along Euclid Avenue of which Cuyahoga Land Bank is leading the redevelopment. The newly renovated properties are all owned and occupied by long-time homeowners, with some residents having been there for more than 40 years! Renovations and repairs averaged $19,000 per home and included the installation of new roofs, siding, porches, doors and windows. These improvements have been designed to keep each home…
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Building a sustainable, green neighborhood is one of the key ingredients in the development of Circle East District, the new residential neighborhood being developed just east of University Circle.
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The Cuyahoga Land Bank is thrilled to announce the selection of three exceptional development partners for its Circle East District initiative to revitalize the residential area at East Cleveland’s Eastern gateway to University Circle.
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“We have the opportunity to truly transform a community that desperately needs it,” Roberts said. “Our expectation is there will be roughly 200 new homes in a footprint of about 30 acres. The new homes will be complemented by some townhomes as well.”
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“We’re building an intentionally regenerative and circular economy that understands the value of place, the environment and people — and is willing to say we don’t need to go bigger.”
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A $40 million investment is underway in East Cleveland. The building is on Euclid Ave., and was owned by the county. It’s now in the hands of a developer and is being turned into a destination where small businesses can thrive.
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