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

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