Port Approves Capital Lease Incentive for Fairfax Neighborhood Apartment Project

Cleveland – Dec. 14, 2023— The Port of Cleveland Board of Directors has approved the issuance of up to $6 million of bonds to help finance construction of the first modern, market rate rental development in the central part of Cleveland’s Fairfax neighborhood.

The $10.5 million 89th Rising Housing Development is planned by a company founded by Timothy L. Tramble Sr., president of We Rise Development and a resident of the Fairfax neighborhood. Tramble is also president and CEO of the Saint Luke’s Foundation and has more than 20 years of community development experience.

The project’s first phase will include 48 one-bedroom and two-bedroom market rate rental units along East 89th Street between Cedar and Quincy avenues. The apartments will be in 6 large structures designed to give the appearance of the rambling Victorian houses that once anchored the street. They will have large porches, gables, turrets and variegated facades. Construction is expected to start in early 2024.

“My wife and I built our home in Fairfax in the mid-1990s,’’ said Tramble. “My career interests, efforts, and accomplishments have centered revitalization of disinvested, low-wealth neighborhoods of Cleveland. Our street is in need of revitalization, so as a vested stakeholder I am using my skills to effectively address the vacancy and blight. The assistance from the Port’s capital lease program will help our company do just that.”

“The Port is happy to partner with We Rise Development on this project,’’ said Rhonda Winslow, Vice President of Development Finance for the Port of Cleveland. “This project is a great addition to the Fairfax neighborhood and a great complement to projects the Port has assisted with in the neighborhood over the last few years.”