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| Just south of downtown Cleveland, the Scranton Peninsula site of a former Republic Steel mill that manufactured chrome-plated nuts and bolts will soon become home to about 1,000 residents in more than 600 apartments roughly equally split among two developments. One of those is the NRP Group’s The Peninsula, in the center-foreground, which won a $6 million Brownfield grant from the state last year for site clean up (Adam Greene). CLICK IMAGES TO ENLARGE THEM. |
Several things have long slowed Cleveland’s post-industrial transition to embrace new economic drivers. One of the biggest is the lack of large, clean properties near existing labor. The city recently announced a $50 million land assembly program that could be boosted to $100 million with other funding. While some of that funding could come from the private sector, another source may well come from a new round of state funding to aid redevelopment, announced today.
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