Asiatown was a neighborhood that was on the upswing 20 years ago. There were new restaurants, shopping venues like Asia Plaza, Tyler Village and other commercial developments, multiple new housing offerings such as the Asian Evergreen and Body Block Arcade apartments, plus several longstanding grocers including Dave’s Market, 3301 Payne Ave., had renovated their properties.
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In Cleveland, one east-side housing development and one west-side development are set to receive 4-percent Low Income Housing Tax Credits (LIHTC) from the Ohio Housing Finance Agency (OHFA). The agency announced that determination yesterday in a spreadsheet posted on its Web site. A third project won a $1.75 million OHFA loan, OHFA said in a written statement released today.
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Three years after a development team planned a mixed-use project at the closed Dave’s Market, 3301 Payne Ave., in Cleveland’s Asiatown, some members of that development team are back to invest in that site again. This time, a $42.3 million development is proposed with a more focused approach on affordable housing atop ground-floor commercial and community uses.
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