Cuyahoga Land Bank and Loiter Cafe and Marketplace are pleased to announce that they have settled their dueling lawsuits concerning the Mickey’s Building, 12550 Euclid Ave., in East Cleveland. The land bank and Loiter said they realized an amicable solution was achievable and in everyone’s best interest.
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One week after the Cuyahoga Land Bank completed a $3.5 million renovation of the Mickey’s building, 12550 Euclid Ave., in East Cleveland, it announced the sale of the building to Verdynt Bio, a Boston-based science facility developer with strong ties to Ohio. Verdynt Bio’s operations partner, SKYLIIT Labs, said it plans to invest more than $12 million into the site to create 100 jobs in a state-of-the-art laboratory and office co-working space.
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In a 30-acre area of targeted investment called the Circle East District, located in East Cleveland, the Cuyahoga Land Bank announced it has completed major features of its first phase to revive the neighborhood. The multi-phase $95 million effort led by the Cuyahoga Land Bank to rebuild the neighborhood from the sewers up began two years ago. However, a commercial component to the redevelopment has hit a legal snag.
Read MoreCircle East improvements continue, more due Read More »
