It appears that although for most of the decade University Circle’s big business has been booming with construction (to the tune of about $2billion), it’s surrounding areas have been struggling to survive.
According to the Plain Dealer neighborhoods such as Hough, Fairfax, Glenville and Buckeye-Shaker, areas that are right down the street from the constant noise of Cleveland Clinic construction, have been devastated by blight, vacancy and foreclosure for some time now.
Fortunately, it appears someone is planning to actually DO something about it instead of simply TALKING about what should be done.
The strategy has been dubbed The Greater University Circle Initiative. It’s goals include taking steps to change this unfortunate disparity between struggling neighborhoods and the local business so the whole community might truly become strong healthy and harmonious.
Over the next five years University Circle’s biggest employers and foundations will pledge $5million in funding toward grants and forgivable loans for buyers who decide to invest in the surrounding neighborhoods. There will also be incentives for investors as well as renters. The hope is that this will act as a launching pad to restore and revitalize the community.
Its like they say in the commercials “just one more reason we can all believe in Cleveland!”