CLEVELAND, Ohio — For the first time in 30 years, Cleveland has opened the doors to a new development in Slavic Village, one the oldest neighborhoods in city.
At the 5115 at the Rising, there are 78 affordable apartments along with 10 townhomes, a fitness center and a community area. The University Settlement, a nonprofit organization, will also have its offices inside along with a food bank and Tri-C center.
“When you can have access to safe housing, you are more confident in your ability to get a job, go back to school and maybe start a business,” said Cleveland Mayor Justin Bibb.
Funds for the development came from a few places.
"The financing for this development is a combination of low-income housing tax credits, traditional permanent loan and then home dollars from the City of Cleveland, and university settlement had worked with a number of other foundations in funders to build up their commercial space," said Scott Skinner, the vice president of development for the NRP Group, which develops affordable multifamily housing.
One of the most important and impactful pieces about the project is that rents will be between 30% and 60% of the area's median income.
“Rents are going to range from $350 on the low end to about $900 on the high end, and those are for one, two, and three-bedroom apartments and townhomes,” Skinner said.
That helps with housing, especially in the Slavic village area, where the community faces lead-poisoned homes and a struggle to find affordable living.
“Once again Slavic Village kids deserve safe, lead-free, comfortable homes,” said Sharena Zayed, a community member.
While the tours took place, community members' excitement was clear.
“This makes me feel so great, just to see the excitement of the neighborhood,” said Christine Nelson, a community member.
“I see a lot of development all over and I’m glad we weren't forgotten,” said Zayed.
But it doesn't stop there; they have already received 2,000 applications from potential residents.
“So we are at we are actively pursuing additional phases. The 2,000 inquiries here just show there's such a need,” said Skinner.
They hope to soon see phases two, three and four, but for phase one, residents will be able to move in as soon as December 1.
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