CRAINSCLEVELAND.COM I JULY 24, 2023
DIVERSIFYING DEVELOPMENT
New program aims to give a boost to small-scale minority real estate developers
A
BY MICHELLE JARBOE
Local nonprofits Cleveland Development Advisors and Village Capital Corp. have teamed up on the program with Capital Impact Partners, a nonprofit lender based in Arlington, Virginia. They’ll select 12 to 15 developers for their first class, which will run from October through May. See REAL ESTATE on Page 16
MICHELLE JARBOE/CRAIN’S CLEVELAND BUSINESS
new program aims to boost the ranks of minority real estate developers in Cleveland — and to give them the tools, from money to financial know-how, to put shovels in the ground.
The application portal opened last week for the Cleveland Equitable Development Initiative, an eight-month program aimed at small-scale developers who are looking to grow. It’s the local version of a curriculum that debuted in Detroit in 2018 and that has since expanded to Dallas, the San Francisco Bay Area and the region around Washington, D.C.
The new Addis View Apartments loom over a house in the Hough neighborhood, on Cleveland’s East Side. A new program aims to help more minority developers get projects moving in long-overlooked city neighborhoods.
Cleveland Soccer Group goes for the goal Association advances stadium plan and eyes 2026 NWSL bid
Lender ordered to provide names of salespeople who may opt into case for unpaid wages, overtime
BY JOE SCALZO
If Cleveland is going to successfully pitch for women’s soccer, it needs a soccer pitch. The Cleveland Soccer Group (CSG) is getting closer to that goal. Michael Murphy, the co-founder and CEO of the CSG, said his group has made “significant progress” on its stadium plan, a crucial element in its bid to land a National Women’s Soccer League (NWSL) team in 2026. The CSG also is expanding its ownership group, something Murphy believes will be “well-received” by the league. See SOCCER on Page 16
BY JEREMY NOBILE
Angel City FC defender Sarah Gordon controls the ball while under pressure from North Carolina Couger forward Olivia Wingate in a July 9 game. Angel City FC joined the NWSL last year. The Cleveland Soccer Group hopes to land a team in 2026. | ALAMY
VOL. 44, NO. 27 l COPYRIGHT 2023 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED
P001_CL_20230724.indd 1
Suit against CrossCountry Mortgage moves forward A federal judge has ordered CrossCountry Mortgage (CCM) to provide names and contact information for current and prior salespeople who may be eligible to opt into a putative class-action lawsuit that accuses the company of failing to pay employee wages, including overtime. It’s unclear how many people may be eligible to join the suit, but it could be a lot. The nationwide lender has more than 7,000 employees in nearly 600 branches
across all 50 states, according to the company. The related case, which is being adjudicated by Judge Dan Polster, was filed on behalf of plaintiff Paul Lundholm of New Jersey on Feb. 14 in the U.S. District Court for the Northern District of Ohio. The suit alleges that Cleveland-based CCM violated both federal and state laws when “knowingly misclassifying” salespeople as exempt from overtime and minimum wage requirements. See LAWSUIT on Page 17
AKRON
RESTAURANTS
Mayor Horrigan fights U.S. EPA to get out of huge and costly sewer overhaul mandate.
Rosewood Grill celebrates a decade in Strongsville, reopens after renovation.
PAGE 4
PAGE 10
7/21/2023 1:15:53 PM