The apartment buildings that line East Boulevard in Glenville boast stunning architectural details such as ornate columns, artisan brickwork and broad balconies that overlook Rockefeller Park. They attest to the wealth that once existed on this grand old street.

Yet for decades, East Boulevard has deteriorated as owners struggled with a soft market, much-needed repairs and soaring energy costs. Despite its proximity to University Circle and Rockefeller Park, the area was long considered "dicey."

Now two apartment buildings have been purchased and renovated by the Famicos Foundation, a nonprofit that serves the Glenville and Hough neighborhoods by developing affordable and market-rate housing. The group has renovated 1341 East Boulevard into six apartments, each with three bedrooms and two baths. All six suites have been pre-leased, with the first tenants taking possession in July.

Although the building's exterior has been carefully preserved -- the massive columns holding up the porches were rebuilt to match the crumbling originals -- much of the interior is new. The developer installed new heating, plumbing and electrical systems, replaced the old kitchens with fresh contemporary ones, added amenities like in-suite laundry, and upped storage space.

Also, many of the exquisite original details have been refurbished -- including oak hardwood floors, leaded-glass windows, fireplaces (many suites have two) and natural woodwork.

David Fagerhaug, Senior Project Manager with the Famicos Foundation and a resident of East Boulevard, says that the 2,000-square-foot apartments lease for $825 per month. Although he'd like to get higher rents, he says it's a good sign that the tenants are frequently professionals and University Circle employees.

The renovation of 1341 East Boulevard was made possible using federal historic tax credits, a $600,000 grant from the City of Cleveland's Housing Trust Fund and $188,000 in federal stimulus funding. Fagerhaug says that he'd like to see more buildings renovated along the street, and to see rents increase so that public subsidy is not needed to justify renovation costs.

The project was also aided by a low interest rate loan from Dollar Bank in partnership with Cleveland Action to Support Housing (CASH), a nonprofit whose mission is to spur neighborhood revitalization through home repair lending.

Source: David Fagerhaug
Writer: Lee Chilcote