Riverside Park

Riverside Park Homes originally consisted of 415 public housing units on 68 acres of land. In 2005, CMHA decided to pursue and infill project to build additional housing on a portion of the underutilized land.  This was the first tax credit project totally developed and managed by CMHA.  The project consists of 90 low income housing units, constructed with all the amenities of market rate housing.  All units were completed and leased by December of 2007.

The project culminated in a new 28-unit senior mid-rise building, as well as 62 townhome style units.  This has opened up greater housing opportunities to residents who wish to reside on the Cleveland’s west side.  The new units have given residents greater access to a more diverse community, in an area with very limited low income housing.  The senior facility is the most attractive building on the far west side and was leased to capacity within the first two days of opening.  As construction drew to a close, many of the townhomes were either pre-leased or leased within one day of becoming available.  These units have more modern amenities than any of Cleveland’s other public housing units, and still have the luxury of greenspace. 

The project also included other community improvements.  In the summer of 2007 a Water Splash Park opened at the estate for children under the age of 13.  This splash park offers on-site water recreation, an amenity that is scarce throughout national public housing, to the hundreds of children living at Riverside Park.  An all-purpose playground and community center are also available at the estate.

The project cost approximately $17.8 million, $7.2 million of which came from tax credit equity through the State of Ohio’s 4% low income housing tax credit program.  Additional financing was achieved through bond issuance, and Replacement Housing Factor funding.