Port of Cleveland backs 10 new homes in St. Clair-Superior, 120 affordable senior apartments in Euclid

NewsThe Port of Cleveland has approved financing support for two housing projects, including 10 new single-family homes planned in Cleveland’s St. Clair-Superior neighborhood and a 120-unit affordable assisted-living community in Euclid. (Google Maps)Google MapsBy Kaylee Remington, cleveland.comcleveland.com Express DeskCLEVELAND, Ohio -- The Port of Cleveland has approved financing support for two housing projects that would add 10 new single-family homes in Cleveland’s St. Clair-Superior neighborhood and 120 affordable assisted-living apartments in Euclid.The Port’s board of directors approved the projects on Oct. 8.The board approved a low-interest loan for the construction of 10 owner-occupied homes on vacant land bank lots along East 67th Street in St. Clair-Superior, according to a news release. The homes are part of Cleveland’s Housing Innovation District, a city initiative aimed at increasing the supply of for-sale housing in neighborhoods with long histories of vacant and deteriorating properties.Knez Homes is developing the project after being selected with Legacy RED through a competitive city process, the release says.The homes are expected to be about 1,300 square feet, with estimated sale prices ranging from $169,900 to $201,400. Public and philanthropic funding, along with the port’s reduced-interest loan, will help close the gap between construction costs and sale prices.The project is intended to create more opportunities for homeownership, put vacant lots back into use and encourage additional investment in the neighborhood, the port said.“For too long, St. Clair-Superior residents have carried the weight of disinvestment while watching opportunity flow somewhere else,” Cleveland Mayor Justin M. Bibb said in a statement. “These 10 market pilot homes are a starting point for changing that pattern.”The housing project also adds to more than $365 million in public and philanthropic investment planned or underway in the surrounding area, according to the Port of Cleveland. That includes the port’s CHEERS project, which is expected to turn dredged material into about 100 acres of parkland, trails and habitat along the Lake Erie shoreline.In Euclid, the port approved support for Silver Birch, a planned assisted-living community on vacant land near Euclid Avenue and Interstate 90.The project would be built on a 6.7-acre site at 27981 Euclid Avenue, just east of I-90 and near the border with the city of Wickliffe. Current plans are for a three-story, elevator-served building with 120 apartments for residents age 62 and older.According to an Ohio Housing Finance Agency application, the development would include studio and one-bedroom units, as well as amenities such as a library, beauty and barber shop, wellness and therapy areas, walking paths and laundry facilities. The project is part of a state effort to expand affordable assisted-living options, which supporters say can provide lower-cost alternatives to nursing home care for older adults and people with disabilities.“Through strong public-private partnership, we are creatively using our capacity to assist in the conversion of vacant land into lasting homes, workplaces and thriving communities,” Rhonda Winslow, vice president of development finance for the Port of Cleveland, said in a statement. “This is an example of the port using our financing tools creatively to support innovative efforts by partners like the city of Cleveland and city of Euclid on projects that address real community needs while creating lasting economic and neighborhood benefits.”Kaylee Remington joined cleveland.com and The Plain Dealer in 2016 and is the news organization's Cuyahoga County suburban cities reporter, focusing on the communities surrounding Cleveland. Her reporting...