Entry Title: ANCHOR
Team Code: 2025-17045
School: Georgia Tech

Overview (Narrative Excerpt from Original Project Submission):

Anchor is a $347.8 million development that will cost $383.4 million and be delivered over three phases. The development creates a mixed-use town center, accessible lakefront, and fosters diversity of housing and opportunities to act as an economic and social anchor for Cleveland. Transportation is Anchor’s spine. Anchor extends Addison Street into the site to create a curved, dynamic main street that connects with existing RTA bus routes and is lined with townhomes and affordable developments. A pedestrian bridge over I-90 links Cleveland and the proposed CHEERS project. Anchor connects the artistic and cultural networks of St. Clair Superior by extending downtown and East Cleveland through the site. With one million square feet of public use space, Anchor provides ample green space, a community health club, and designated art-walk. The development features 623 rental units including 51% affordable units aimed to increase avenues to home ownerships and allow residents to buy into a green future and build equity.  Anchor acts as a vehicle of economic opportunity, emphasizing growing local talent in the Maker District – a dense, mixed-use environment that pays homage to the industrial history of Cleveland and offers employment and educational opportunities. Financing is powered through layered incentives, spread throughout phasing, including the Federal LIHTC, State OLIHTC, Opportunity Zone Tax Credits, Housing Investment Fund, and Inflation Reduction Act 45-L funding.