Cleveland ‘sequel’ offers hope beyond foreclosure crisis: Jeffrey M. Ramsey

Posted on July 25th, 2011

a deteriorated shell of a 1920s movie palace emblematic of urban disinvestment. Now, the Capitol is one of the catalysts fueling the neighborhood’s resurgence along with Battery Park, a 328-unit housing development overlooking Edgewater Park, and the 46 new businesses that have opened since 2006. However, this progress was threatened due to the black pall of foreclosures that descended in 2005.

an incredible achievement any developer would envy. The vacant house rehabs saved the city of Cleveland more than a half-million dollars in demolition costs and brought new tax revenue as well.

one that is much different and more hopeful than the film featured at the Capitol.

Ramsey is the executive director of the Detroit Shoreway Community Development Organization.

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