Shaker Square tenants question Cleveland’s $12 million loan for business district

  • 📰 cleveland19news
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 68%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The City of Cleveland will loan two non-profits $12 million to run, restore, and re-sell Shaker Square but some tenants say the historic shopping district is overvalued and question the city's involvement

CLEVELAND, Ohio - “The Square’s bigger than all of us,” said Edwin’s owner Brandon Chrostowski. “It’s truly the gateway to the East side, so Shaker Square’s a big deal.”

The former owner of Shaker Square, the Coral Company, foreclosed last March and a receiver has run the district for the last 13 months. But Chrostowski questions whether Cleveland should involve itself financially. Chrostowski said the property is valued at about $5 million and the bank has the property overvalued.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 70. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines