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The Port of Cleveland approved a low-interest loan for 10 planned single-family homes in the St. Clair-Superior neighborhood and support for Silver Birch, a separate 120-apartment assisted-living community planned in Euclid. The approvals, made October 8, 2026, are financing steps—not announcements that either project is complete or open.
What the Port approved
The Port of Cleveland Board of Directors approved support for two housing projects in different communities. The Cleveland project is a small for-sale home pilot on vacant Land Bank lots on East 67th Street. Silver Birch is an assisted-living development planned near Euclid Avenue and Interstate 90.
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| Project | Location and housing | Planned scale and affordability |
|---|---|---|
| St. Clair-Superior homes | East 67th Street, Cleveland; owner-occupied single-family homes | 10 homes, approximately 1,303 square feet each; estimated prices of $169,900 to $201,400 |
| Silver Birch | Near Euclid Avenue and I-90 in Euclid; assisted-living apartments | 120 apartments in an approximately 100,000-square-foot facility; about one-third planned for lower-AMI residents |
The proposals address different housing needs: the Cleveland pilot is intended for homebuyers, while Silver Birch is planned for elderly and disabled residents. The Port describes the latter as affordable, high-quality assisted living; that is the Port’s characterization, not an independent assessment.
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The Port approved a low-interest loan to support construction of 10 new homes on vacant Land Bank lots on East 67th Street. Knez Homes was selected alongside Legacy RED through a competitive City of Cleveland process. The homes are part of the city’s Housing Innovation District Market Pilot, which aims to increase for-sale housing supply in neighborhoods affected by long-term vacancy, deterioration and high concentrations of rental housing.
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Estimated size and sale prices
The Port’s 2026 figures put each planned home at approximately 1,303 square feet, with estimated sale prices ranging from $169,900 to $201,400. These are estimates, not confirmed final prices or an announcement that sales have begun.
The Port says public and philanthropic support, together with savings from its reduced-interest loan, will help bridge the gap between development costs and the estimated sale prices. The release does not state the loan amount, interest rate or other detailed terms.
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Why the pilot matters
The 10 homes are one component of a broader city pilot intended to test scalable, cost-effective ways to rebuild neighborhood housing markets and create more opportunities for ownership. Mayor Justin M. Bibb called the homes “a starting point for changing that pattern,” referring to neighborhood disinvestment.
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What is Silver Birch in Euclid?
Silver Birch is planned for a vacant site near the northwest corner of Euclid Avenue and I-90. Vermilion Development is developing the project, and Silver Birch Living is expected to operate it long term. The Port’s plan calls for 120 apartments in a facility of approximately 100,000 square feet, with about one-third of the units available to residents with lower area median incomes (AMI).
The Port’s approval is support for a planned project; it does not establish that construction is underway, that apartments are available, or that resident applications are being accepted.
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How the East Side financing fits into the larger district
The St. Clair-Superior homes sit within a broader city Housing Innovation District effort. Ideastream Public Media reported that the district includes parts of Hough, St. Clair-Superior and Central, and combines an East Side tax increment financing (TIF) district with permit-fee waivers, code changes intended to reduce barriers, and pilot work on homes and storefront renovations.
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Ideastream reported that the district contains 2,800 vacant lots overall, including more than 2,000 mostly residential parcels in Hough and St. Clair-Superior. Those figures describe the wider district, not the 10-home project. The East Side TIF is intended to capture new property-tax revenue generated by new construction and reinvest it in infrastructure. Ideastream gave a 30-year estimate of $64 million to $182 million, dependent on new construction and tax revenue; it is not guaranteed funding and is separate from the Port’s loan for the homes.
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What has not been announced
The Port’s October 2026 announcement does not provide a construction start or completion date for either project, a date when the homes will be marketed or sold, or a Silver Birch opening or resident-application timeline. It also does not give detailed terms for the Cleveland loan. The published home prices and Silver Birch affordability allocation are plans or estimates, and the announcement does not confirm whether they have changed.
Quick Recap
- Port of Cleveland: approval and project details for the two developments.
- Ideastream Public Media: reporting on the broader Housing Innovation District and East Side TIF estimate.
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