Cleveland's Economic Development Success Story

Despite the unfortunate timing of its renovation, Cleveland's Euclid corridor continues to drive development for the city.

"Despite the challenging financial climate, the $197 million renovation of Euclid Avenue has become an economic development engine for the city. More than $3.3 billion worth of projects are in the works or recently finished along five miles of the vital artery.

To be sure, the progress has been slower than many would like. The number of projects would be far greater if not for an economic crisis that has stalled or killed developments across the country. And given a shortage of private lending, many of the high-profile projects along the corridor depend on institutions, tax credits and other incentives.

Nevertheless, builders are staring down the shaky real estate market and finishing town houses in University Circle. They're completing apartments in former department stores downtown. And they're pitching plans to make Midtown a biomedical and technology hub."

Thanks to Streetsblog

Full Story: Cleveland's Euclid corridor project has paved the way to economic development

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!
$28.00
Women's t-shirt with map of Los Angeles

City T-Shirts for the ladies!

Women's Supersoft CityFabric© Fashion Fit Tees. Now available in six different cities.
$24.00