New Markets Tax Credit Coalition

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  • Cleveland,
  • OH
  • (2008)
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Arbor Park Place

District: Shontel Brown (D-OH11)

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

Investor

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.

External Profile

MAP

Address: 4600 Euclid Avenue, Cleveland, OH 44103

Census Tract: 39035109701

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PDF Profile

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