A groundbreaking ceremony has been held for phase 1 of The Aura at Innovation Square in Cleveland. The mixed-use market-rate housing complex has been planned to benefit the local workforce and community.
The Aura will have 82 one- and two-bedroom rental units when it opens in late 2023. PNC, Cleveland Clinic, City of Cleveland, and Cleveland Foundation contributed financial support. George Gund Foundation, Port Authority of Cleveland, and Urban Strategies, Inc also gave a hand.
The Cleveland Clinic and Karamu House Theatre are located in the Fairfax neighborhood, which is the focus of a wider neighborhood revitalization initiative led by FRDC.
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There will be single-family houses for sale and rent, and mixed-use buildings with office and commercial space. Moreover, green areas, are all included in the Innovation Square concept. Cleveland Clinic and FRDC have partnered to support a number of community development initiatives.
They are aimed at enhancing the health and wellness of the Fairfax neighborhood and its environs. The clinic financed the design process for the building so that they could proceed as planned during the COVID-19 epidemic. They have contributed $10 million to support the whole project in addition to helping with site acquisition.
Commentary on the Aura at Innovation Square
“A key element of our redevelopment plan from the start has been the accessibility of high-quality, reasonably priced housing. Housing for local employees at all income levels. We have a responsibility to protect the ability of workers to stay close to their place of employment, as well as provide housing options for existing residents,” said Denise VanLeer, Executive Director of FRDC.
“Demand for both market-rate and affordable housing remains extremely high in Fairfax and surrounding neighborhoods. Cleveland Clinic’s CEO and President, Tom Mihaljevic, M.D., declared, adding that Cleveland Clinic is committed to enhancing the neighborhood we call home and building a healthier community.