A new 82-unit apartment complex is now open in Cleveland, funded in part by Cleveland Clinic, to expand modern mixed-market-rate living options for workers.
Aura at Innovation Square is a $26 million development with 82 studio, one- and two-bedroom units in Fairfax, a neighborhood on the East Side of Cleveland and less than a mile away from Cleveland Clinic's main campus.
Cleveland Clinic assisted developers with site acquisition and a $10 million investment for the overall project, which opened March 19.
"Access to affordable housing is a critical social determinant of health and imperative to helping build a stronger community," Vickie Eaton Johnson, chief community officer at Cleveland Clinic, said. "We are proud to support the economic health of our neighborhoods and contribute to this pivotal community revitalization effort."
PNC Bank, city of Cleveland, Cleveland Foundation, the George Gund Foundation, Port Authority of Cleveland and Urban Strategies also funded the project.
In 2024, Ohio as a whole is short of more than 267,000 affordable housing units for nearly 445,000 extremely low-income households with a deficit of 56,560 affordable units in Cleveland, according to a new report released by the National Low Income Housing Coalition and the Coalition on Homelessness and Housing in Ohio.