CLEVELAND — The Addis View Apartments project plans to break ground Monday, May 3 on the first of a four-phase project that will create more than 400 affordable apartments over the next two to three years and is estimated to cost roughly $80 million.
The project is coming from Inspirion Group and relatively new developers Lemma Getachew and his wife Guenet Indale.
“I was a pharmacist 25 years ago in that area and I was always asking myself, ‘Why don’t we have affordable housing for students, nurses, and middle-class families,” said Getachew. “So me and my wife decided, ‘Let’s have a workforce environment.”
Getachew says the apartments will be affordable because of their size. He expects them to start at about $900 per month, with micro units and studios to keep the cost down for nurses, students, and other potential residents. The project is across the street from The Cleveland Clinic Main Campus and down the road from University Hospitals, and Case Western Reserve University.
The first building is expected to have about 131 units with construction starting in May. As additional phases begin, other large chunks of East 90th Street will be developed.
Inspirion Group just completed the historic restoration at 3101 Euclid Avenue in Midtown, turning old office space into roughly 90 apartments. That $24 million project also has commercial space on the ground floor that Getachew says would be perfect for a retail or food/coffee business.
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