The NRP Group, a vertically-integrated, best-in-class developer, builder and manager of multifamily housing, today announced it will partner with The MetroHealth System and CCH Development Corp. to develop a mixed-use community in Cleveland’s Clark-Fulton neighborhood.
| CLEVELAND, July 19, 2019 /PRNewswire/ -- The NRP Group, a vertically-integrated, best-in-class developer, builder and manager of multifamily housing, today announced it will partner with The MetroHealth System and CCH Development Corp. to develop a mixed-use community in Cleveland’s Clark-Fulton neighborhood.
The innovative public-private partnership will strengthen and revitalize Cleveland’s west side by filling a need for high-quality housing and supporting MetroHealth — a major city employer and health provider — in its ongoing effort to revitalize an oft overlooked part of the city. The development will include more than 250 affordable and market-rate apartments as well as an Economic Opportunity Center, all part of a holistic, sustainable neighborhood designed to support an equitable, diverse and inclusive mixed-income population. “We are very pleased to partner with MetroHealth and CCH to create high-quality, mixed-use, mixed-income housing that integrates community development and workforce training. This is a winning combination that creates pathways to opportunity for the entire community,” said J. David Heller, CEO and co-founder of The NRP Group. “The City of Cleveland and MetroHealth are making significant investments in the Clark-Fulton neighborhood, with the goal of providing economic growth for current residents while attracting new citizens,” said Mayor Frank G. Jackson. “This investment and the development of a mixed-use community aligns with my Neighborhood Transformation Initiative and builds on a shared commitment to improve quality of life and create more sustainable neighborhoods.” This development is another great example of The NRP Group being at the forefront of the “Healthcare and Housing” trend in which local hospitals partner with NRP to improve the surrounding neighborhoods. NRP has worked hand-in-hand with hospitals to positively influence social determinants of health beyond clinical care, including affordable housing, supportive services and workforce training. One example of this occurred in 2017 when NRP opened The Residences at Career Gateway, an affordable workforce development created in partnership with Nationwide Children’s Hospital and Community Development for All People in Columbus, Ohio. That development is comprised of 58 apartments and townhomes and it includes a training center where residents and the people in the surrounding neighborhood can take advantage of classes hosted by Nationwide and other local organizations. “The concept of hospitals playing a role in the betterment of their communities through focus and improvement on social determinants of health is gaining traction in important ways,” said NRP Senior Vice President of Development Aaron Pechota. “We have been involved in other such projects, and we are delighted that MetroHealth is taking such a strong and bold leadership position in this transformative project. We have seen these types of projects have a meaningful and positive impact on the neighborhoods served by urban hospitals.” “MetroHealth’s top priority is the health and well-being of our community and everyone who lives here,” said MetroHealth Director of Economic & Community Transformation Greg Zucca. “And we know that developments like this help neighborhoods thrive, playing a far-reaching and critical role in improving the health and lives of people in the communities we serve.” About The NRP Group The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in- class multifamily housing. Since its founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 19,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income. Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market- rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com. About The MetroHealth System The MetroHealth System, Cuyahoga County’s public health system, is honoring its commitment to create a healthier community by building a new hospital on its main campus in Cleveland. The building and the 25 acres of green space around it are catalyzing the revitalization of MetroHealth’s West Side neighborhood. MetroHealth broke ground on its new hospital in 2019. The project is being financed with nearly $1 billion the system borrowed on its own credit after dramatically improving its finances. In the past five years, MetroHealth’s operating revenue has increased by 40 percent and its number of employees by 21 percent. Today, its staff of 8,000 provides care at MetroHealth’s four hospitals, four emergency departments and more than 20 health centers and 40 additional sites throughout Cuyahoga County. In the past year, MetroHealth has served 300,000 patients at more than 1.4 million visits in its hospitals and health centers, 75 percent of whom are uninsured or covered by Medicare or Medicaid. The health system is home to Cuyahoga County’s most experienced Level I Adult Trauma Center, verified since 1992, and Ohio’s only adult and pediatric trauma and burn center. As an academic medical center, MetroHealth is committed to teaching and research. Each active staff physician holds a faculty appointment at Case Western Reserve University School of Medicine. Its main campus hospital houses a Cleveland Metropolitan School District high school of science and health. For more information, visit metrohealth.org. MEDIA CONTACT:
SOURCE The NRP Group |
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