On the heels of America’s national foreclosure crisis, the Slavic Village Recovery Project (SVRP) was initiated in direct response to community and housing market needs in Cleveland’s Slavic Village neighborhood. The first of its kind, this strategic partnership was forged through a diverse alliance – Forest City Enterprises, RIK Enterprises, Slavic Village Development, and Cleveland Neighborhood Progress. each came to the table – bringing decades of experience in their respective fields (real estate acquisition, home renovation, urban development and home sales).
Through this collaboration, a target area has been identified for concentrated renovations within Slavic Village. We are acquiring unoccupied houses, giving them major updates for new life as an affordable home. By collaborating in such a way, the Slavic Village Recovery Project aims to steady market volatility, stabilize the larger community and match home-buyers with a move-in-ready home at a good price.