Cleveland Development Advisors
(CDA), an affiliate of the Greater Cleveland Partnership, provided an $8 million New Markets Tax Credit (NMTC) allocation for the new Children’s Museum of Cleveland (CMC).
CMC has acquired and is renovating the Stager Beckwith mansion on Euclid Avenue in MidTown, one of the last remaining mansions of Cleveland’s historic Millionaire’s Row.
The three-acre property is conveniently located two blocks from I-90 and on the Healthline.
It will provide the museum a larger home complete with ample parking and green space for an outdoor play area.
CMC is Northeast Ohio’s only museum exclusively dedicated to young children. The new facility will provide an early childhood education and cultural experience to over 100,000 children and their families annually.
Chase served as the NMTC investor and Huntington National Bank provided a bridge loan for capital campaign pledges. This project also marks the first loan made from CDA’s Community Reinvestment Fund.
The museum will open late 2017.