University Circle Development Secures Initial Financing

The argument for spending $250 million on the Euclid Corridor project just got a boost. MRN Ltd. developers has secured $44 million for Phase I development in University Circle, which includes Little Italy, Case Western Reserve University, and is the arts hub of Cleveland (Art museum, history museum etc.). It is a cultural center that is now linked to downtown through the Euclid Corridor Health Line (in honor of the Clinic of course). The new development, as the Plain Dealer is reporting, includes 102 "higher-end" apartments and 56,000 square feet of stores and restaurants. Though apparently scaled down from its initial design, the project is a very welcome step in making Cleveland a more vibrant place.

Photo courtsey of The Plain Dealer from