Incredibly, the 10-story apartment tower 9410 Hough looks brand-new after a $47-million redevelopment and includes the new-construction PCC Hub at right where supportive community services are provided (NEOtrans). CLICK IMAGES TO ENLARGE THEM.
9410 Hough helps restore its neighborhood
Today, developers Northern Real Estate Urban Ventures and SLSCO hosted a ribbon cutting celebration for the reopening of 9410 Hough at its namesake address in Cleveland’s Hough neighborhood. It officially marked the revival of a forlorn building that was left for dead and held back its surrounding neighborhood.
Several local elected officials and community leaders participated in the ceremony that marked the recovery, including Cleveland City Council President Blaine Griffin of Ward 6 and Councilwoman Stephanie Howse Jones of Ward 8.
Built in 1973 and condemned for a decade, 9410 Hough features 116 one- and two-bedroom units that serve households earning 60 percent of the area’s median income — $41,760 to $53,700 annually.
The structure was funded by the U.S. Department of Housing and Urban Development (HUD). Because of that, HUD affordable-housing restrictions ensure the property remains affordable in perpetuity; rents will range from $900 to $1,200 per month.
“The $47 million investment at 9410 Hough represents a major milestone for this historic neighborhood and a testament to the power of strategic partnerships,” Griffin said in a written statement.
Officials get ready to cut the ribbon earlier today on the new 9410 Hough apartments (C3 Visionary Strategies).
“This investment goes far beyond brick and mortar,” he added. “It’s about economic mobility and providing our residents with direct access to essential services — from healthcare and financial literacy to small business consulting — right in their own community.”
Each unit includes a full kitchen and the building features a community amenity center, called The PCC Hub, that provides residents with mental and physical health services, education, training, financing literacy, entrepreneurship development, employment services, and arts and music programs.
The project’s developer, NREUV of suburban Washington DC, partnered with Famicos Foundation, a Cleveland-based community development non-profit whose mission is to improve the quality of life in greater Cleveland, to provide children’s programming at the center.
Gina Merritt, founding principal of NREUV, led the financial structuring of the complex deal, which includes 14 types of public and private funding including $8 million in American Rescue Plan Act (ARPA) funds from the City of Cleveland and $1.1 million in financing from Enterprise Community Partners.
“We are committed to restoring dignity and hope for the long-neglected Hough community,” Merritt said. “Today, we celebrate more than new housing.”
Sporting a fresh, contemporary design and finishes, 9410 Hough is ready to be the affordable home for people of all ages seeking to live near the booming University Circle ((Josh Rice Photography).
Other lenders and investors include real estate brokerage JLL, Freddie Mac, Citizens Bank, CREA LLC, Ohio Housing Finance Agency, and Village Capital Corporation.
WFL Collective, a 501(c)(3) non-profit organization that leverages a network of social service, educational and training providers, to help underestimated individuals to access employment opportunities and create career pathways, is partnering with NREUV on the project.
It provided $2.8 million in combined funding from The Cleveland Foundation ($1.5 million), The George Gund Foundation ($500,000), the State of Ohio ($557,000), and Cleveland Development Advisors ($250,000). WFL Collective will support programming and coordinate services at The PCC Hub.
“Through The PCC Hub, residents and members of the community will have access to critical mental and physical health services as well as financial literacy and job training and placement services that will help create economic prosperity and begin developing generational wealth,” Merritt noted.
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