Arbor Park Place

Cleveland,
OH
(2008)

Arbor Park Place

Infrastructure, Mixed-use, Transportation and Ports

The $6.2 million revitalization of the Longwood Plaza shopping center in Cleveland, Ohio, of which $1.57 million was made possible by the NMTC program.

Investment

NMTC Amount: $5,298,300
Total Project Cost: $6,321,658

IMPACT

23 FTE jobs
18 construction jobs

CDEs

Key Bank

Investor

Key Bank

Project Description

One of the exceptional aspects of the New Market Tax Credit (NMTC) is how it brings together public and private entities to funnel capital to low-income urban and rural areas where, in the past, the risk for investors would have been too great. A case in point is the $6.2 million revitalization of the Longwood Plaza (now renamed Arbor Park Place) shopping center in Cleveland, Ohio, of which $1.57 million was made possible by the NMTC program.