Slavic Village Recovery Unveils First Rehabilitated Home
First of 200
Properties to Undergo Renovation
FOR IMMEDIATE RELEASE
October 2, 2013
Slavic Village Recovery (SVR) has revealed the first home to
be rehabilitated in its initial target area this week. Hosting an open
house on Tuesday, September 24, SVR welcomed local residents and interested
parties to view its first completed home at 3672 East 54 Street in Slavic
Village. The two-story, two bed-room home that began construction in
mid-July received a complete internal renovation and external face lift,
including a new furnace, carpeting, cabinetry, and new roof. SVR expects to
sell the home at $56,900, making the monthly mortgage payment approximately
$450, including taxes and insurance.
“This home is living proof that renovated, quality
affordable housing can be created in today’s economy,” said Robert Klein,
project partner and Founder and Chairman of Safeguard Properties. “With the
support of our partners, lenders, elected officials and the local community new
residents and first time homebuyers will call Slavic Village home in the
immediate future.”
Before
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After
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This is the first of 200 homes that SVR expects to renovate
in the area to support the transformation of Slavic Village. Interested
homebuyers should contact SVR Project Director, Jeff Raig at 216.641.2586 or
email JeffR@slavicvillage.org.
The goal of the Slavic Village
Recovery Project is to redevelop the historic Slavic Village neighborhood by
taking a holistic approach to community revitalization. The SVRP is a private/non-profit partnership,
initiated in direct response to community blight and housing market needs in
Cleveland's Slavic Village neighborhood. The first of its kind, this strategic
collaboration is a diverse alliance between Forest City Enterprises, RIK
Enterprises, Slavic Village Development, and Neighborhood Progress, Inc., each
having decades of experience in their respective fields. The SVRP aims to steady market volatility, stabilize
the larger community and match home-buyers with a stress-free home at a good
price.
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Contact: Holly Stutz,
RIK Enterprises, Director of Marketing and Communications. 216.990.8767
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