CLEVELAND, Oct. 4, 2019 /PRNewswire/ -- The NRP Group, a vertically-integrated, best-in-class developer, builder, and manager of multifamily housing this week announced plans to develop Slavic Village Gateway, a mixed-use community that will help fill the significant need for affordable housing in Southeast Cleveland.
Developed in collaboration with University Settlement, a non-profit organization that has served the residents of the Broadway-Slavic Village area for more than 90 years, Slavic Village Gateway will feature 78 apartments and 10 townhomes in its first phase, including 23 affordable residences that are supported by The Ohio Housing Finance Agency's Housing Tax Credit program designed to increase the supply of quality, affordable housing for low- to moderate-income renters.
Located at 5163 Broadway Avenue, Slavic Village Gateway represents the largest capital investment made in the Broadway-Slavic Village area in more than 25 years. The community will provide a new home for University Settlement, which will relocate its offices to a 20,000-square-foot commercial space on the building's ground floor, helping to support the organization's goals of economic rebirth, and community revitalization and preservation.
"We're thrilled to collaborate with University Settlement and the people of Southeast Cleveland to provide high-quality, affordable housing that will not only provide residents with a safe and supportive place to live, but will also be a place where the community can learn, grow, and care for their families — with an array of crucial services provided by University Settlement," said NRP Group Senior Vice President Aaron Pechota. "Slavic Village Gateway represents an amazing combination of affordable housing and supportive services that can have a transformational impact on both residents and the surrounding neighborhoods."
Once a settlement for Polish immigrants with a peak population of 100,000, Slavic Village is now a community of approximately 20,000. According to University Settlement, the current poverty rate is about 60 percent and the deep poverty rate is about 25 percent.
The first phase of Slavic Village Gateway will comprise 18 one-bedroom units, 48 two-bedroom units and 22 three-bedroom units, as well as 10 townhomes.
"The partnership between The NRP Group and University Settlement lights a beacon of hope for this neighborhood, which is home to a wonderful community, a rich history, and profound potential," said University Settlement Executive Director Earl Pike. "It's impossible for me to overstate how important this is for our community. I'm thrilled to think about the day when those first clients walk across the mantle and into their new space—a space they can be proud to call their own."
University Settlement currently provides aid to more than 12,000 local residents every year in the form of providing case management and critical resources, assistance for homebound seniors, and tens of thousands of pounds of free, fresh produce to those who need it most.
"I believe Slavic Village Gateway will be a catalyst that stimulates more interest and development in the neighborhood and tells our community: 'There is hope,'" said Ward 5 Cleveland City Councilwoman Phyllis Cleveland. "This project will help us spur investment in our neighborhood and prove that Broadway-Slavic Village is bouncing back."
The new development will be included in the Northeast Ohio Areawide Coordinating Agency's Slavic Village Bus Transit Oriented Development Corridor plan, and the area is set to receive enhanced bus service, a bike trail, and more amenities along Broadway Avenue.
"Slavic Village Gateway is not just an investment in our neighborhood—it's also an investment in our families and individuals who will call this home. By incorporating University Settlement into the development, we are signaling to our neighbors that we are committed to the long-term wellbeing of our residents and our community," said Chris Alvarado, Slavic Village Development Executive Director.
"Slavic Village Development is a forward-looking, service-driven organization which honors its neighborhood's resiliency, diverse cultural heritage, and inclusiveness. We are committed to building a community defined by its high quality of life, unique identity, and healthy and active living. We work with and for our residents, businesses, and institutions to promote civic engagement, community empowerment, and neighborhood investment."
Construction for Slavic Village Gateway is expected to begin in mid-2020.
"What's really imperative is economic development oriented toward social change," said Pike. "Once this project is up and running, it doesn't take much imagination to envision the local coffee shop, the local dry cleaner springing up to serve this new, vibrant community."
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in- class multifamily housing. Since its founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 19,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company's formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market- rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit, visit www.nrpgroup.com.
About University Settlement
Since 1926, University Settlement has been offering resources to individuals and families by which they can learn, grow, and thrive. University Settlement is proud to be at the forefront of social service providers in the Broadway-Slavic Village neighborhood. By removing barriers to help families overcome poverty, they empower citizens to maximize their potential and reach their goals. University Settlement does this by protecting and educating children, advancing literacy and job readiness, providing nutritious and sustaining meals, strengthening families, and serving the elderly.
SOURCE The NRP Group