The NRP Group, a US-based developer, has broken ground on a mixed-use residential community, dubbed 5115 at The Rising, in Ohio, US.
Located in Broadway-Slavic Village neighbourhood of Cleveland, the project is being developed in partnership with University Settlement, a provider of premier social services.
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The project is claimed to be the largest capital investment made in Broadway-Slavic Village in more than two decades.
5115 at The Rising will feature 78 apartment homes and 10 townhomes, which will include 18 one-bedroom, 48 two-bedroom, and 22 three-bedroom units.
The project will be funded by several local and regional partners including The Ohio Housing Finance Agency, Ohio Capital Corporation for Housing, KeyBank, The City of Cleveland, and Third Federal Foundation.
The NRP Group development senior vice president Aaron Pechota said: “Broadway-Slavic Village is a unique area that has a lot of potential, and we’re happy to have a hand in contributing to its growth with 5115 at The Rising.
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By GlobalData“We’re grateful to be partnering with University Settlement on this initiative as they have strong roots in the neighbourhood and can help us deliver the highest quality affordable living environment to the community, tailored specifically to meet the needs of the area’s residents and preserve its diverse culture.”
Apart from the residential units, the mixed-use project will provide a new home for University Settlement.
The premier social services provider will relocate its corporate office to a 20,000ft² space on the ground floor of the building.
University Settlement executive director Earl Pike said: “We’re excited to work with The NRP Group on 5115 at The Rising to improve the Broadway-Slavic Village area while continuing to honour the community’s inclusiveness.
“University Settlement has been active in this area dating back to 1926, and our mission has always been to provide the local community with exactly what they need to live and thrive. We are confident that 5115 at The Rising will do just that.”
Work on 5115 at The Rising is anticipated to be completed in early 2022.
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NRP Group begins construction on mixed-use residential community in Ohio, US. (Credit: PRNewsfoto/The NRP Group)
