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Item A: LTD-EmX Presentation
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Item A: LTD-EmX Presentation
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5/13/2009
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<br />ATTACHMENT G <br />Cleveland Newspaper Article on BRT and Community Development <br /> <br />ARTS <br />Latest arts news and listings from The Plain Dealer <br />Cleveland Arts News in Northeast Ohio <br />Euclid Corridor project helps drive $4 billion in Cleveland development <br />by Steven Litt / Plain Dealer Architecture Critic <br />Sunday February 10, 2008, <br />NEWS ANALYSIS <br /> <br />Amid all the bad news about Cleveland's economy, one big, positive number is sure to impress all but the most <br />hardened cynics: $4.3 billion. That's how much fresh investment -- conservatively speaking -- is being poured into <br />the four-mile-long strip of land flanking Euclid Avenue, the city's Main Street, between Public Square and <br />The spending, which encompasses everything from museums and hospitals to housing and <br />University Circle. <br />educational institutions, includes projects completed since 2000, those now under way and those scheduled for <br />completion within five or six years. <br /> <br />Private developers with proven records as doers, not speculators, are gearing up to start projects worth more <br />than $1 billion along the corridor in the next five years or so. <br /> They include Douglas Price III, Nathan Zaremba, <br />Ari and Richard Maron, and Gordon Priemer. The amounts they and nonprofit institutions are investing will easily <br />dwarf the money spent by government and partners in the 1990s on sports stadiums and the Rock and Roll Hall of <br />One big reason for the energy is the Greater Cleveland Regional Transit Authority's $200 <br />Fame and Museum. <br />million Euclid Corridor project, which is reshaping Euclid Avenue around a bus rapid transit line. <br /> <br />Pundits have long derided the project, funded primarily by federal money, as a boondoggle. Media coverage has <br />focused primarily on businesses that failed during construction, along with the hassle of negotiating a sea of orange <br />traffic cones. The mortgage-foreclosure crisis, which has left as many as 12,000 homes vacant in Cleveland <br />But the developers say they see what's <br />neighborhoods, has also obscured the impending rebirth of Euclid Avenue. <br />coming. With the RTA project due for a ribbon-cutting in October, they're rushing to renovate empty <br />
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