By Kristi Halford

Washington DC based Northern Real Estate Urban Ventures (“NREUV”), led by Dr. Gina Merritt, MBA, closed on the acquisition of Martin Luther King Jr. Plaza, an 88k SF mixed-use commercial property located in the Hough neighborhood of Cleveland. The culturally significant development was originally designed by Robert P. Madison, the first Black architect licensed in the state of Ohio; it was one of the first projects built after the Hough Riots and was intended to be a beacon of progress for Black entrepreneurship and the re-building of the Hough community.

NREUV is reinvigorating the historic site through a multi-phase re-development including the construction of 149 multi-family units, 7,500 sq. ft of commercial space, and 6,700 sq. ft of live/workspace, with future phases of townhomes and multi-family housing.

The first phase of the MLK Plaza project will include 64 one-, two- and three-bedroom apartments, and 25 townhomes, as well as 6,700 sq. ft of small tenant spaces for residents. The second phase will include an additional 60 one- and two-bedroom units and a 7,500 sq. ft commercial building.

NREUV will aim to attract small, black-owned businesses and will be creating a community ownership model offering residents and business owners the opportunity to buy shares in the development.

NREUV is a community development organization that is engaged in a holistic approach to real-estate development in low-income communities.  Using a human-centered approach, NREUV works with local businesses to help grow them, and with local residents to create economic empowerment opportunities, all while performing real estate development activities with a high-level of execution expertise.  NREUV provides consultative services in Real Estate Advisory, Financing and Construction Management.