Shaker Square is a hot topic & the discussion around it is once again at the forefront

CLEVELAND, Ohio (WOIO) - Shaker Square is a historic Cleveland neighborhood.

It offers shopping, restaurants, a movie theatre, & apartments.

The Coral Company has owned Shaker Square since 2004 but it has defaulted on a loan of roughly $11 million.

The people who live and work here have a lot to say.

They want a financial shot in the arm for their neighborhood.

“The Receiver has been doing this capital assessment for 6 months when do you get access and why don’t you have access to it now,” said one resident.

Shaker Square has a historic, dynamic legacy which the community says needs to be protected starting with the businesses.

“So first of all what I would like to know is that how would you prioritize the need of the tenants,” one Resident asked.

Terry Hamilton-Brown has been attempting to answer that important question.

She’s the Midwest regional director of a company called “The Community Builders”.

“We have actually have a capital needs assessment that looks at everything so we can see the full picture in order to prioritize investments in items that affect your operation, your ability to run your business, and your ability to attract customers,” Brown added.

Shaker Square is now in receivership, meaning it’s not on solid financial footing.

These residents just hope that better days are ahead for their beloved community.

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