The Corner Alley

New Markets Tax Credit Coalition

Cleveland,
OH
(2006)

The Corner Alley

Retail

Investment

NMTC Amount: $1,400,000
Total Project Cost: $9,000,000

IMPACT

125 FTE jobs
44 construction jobs
28,000 sq. ft. of real estate

CDEs

Cleveland Development Advisors

Investor

Unknown

Project Description

MRN Ltd. undertook the redevelopment of East 4th Street between Euclid and Prospect Avenues. This destination neighborhood is a thriving entertainment and dining area of downtown. The Corner Alley was a $9 million redevelopment that entailed rehabilitation of the first two floors of a historic structure into a 28,000 sq. ft. entertainment/restaurant venue with 15 bowling alleys, billiard tables, special event space, restaurant and bar. The upper three floors were transitioned into 50 market-rate apartments. CNMIF provided a $1.4 million loan to this project that anchors the north end of the East 4th Street neighborhood.

MAP

Address: 410 EUCLID AVENUE, Cleveland, OH 44113

Census Tract: 39035107701

Other Ohio Projects

West 25th and Detroit

Cleveland,
OH
(2016)

Grocery and Fresh Food, Mixed-use, Retail

CDE(s): Capital One, Cleveland Development Advisors, Finance Fund

Construction of mixed-use building with commercial space, parking, grocery store, Eastside School (early childhood education), co-office space and a restaurant.

Greater Cleveland Food Bank

Cleveland ,
OH
(2022)

Shelters and Community Food

CDE(s): Cleveland Development Advisors, Development Fund of the Western Reserve, The Community Builders, Truist

The construction of a warehouse and distribution facility totaling to house the fresh, dry and frozen food for a foodbank in the Collinwood neighborhood.

Toledo Port Expansion

Toledo,
OH
(2012)

Infrastructure, Transportation and Ports

CDE(s): Finance Fund, PNC

Finance Fund provided NMTC financing to Ironville Improvement, LLC., a subsidiary of Midwest Terminals of Toledo, Inc. for expansion of the Port of Toledo’s Midwest terminals.

Freeport Printing Press

Freeport,
OH
(2010)

Business Development, Manufacturing, Rural

CDE(s): Finance Fund

With the fiscal support of Finance Fund, Freeport Press was able to purchase a Komori Systems 38-S Web commercial printing press for their growing business.