Lender sues to seize Shaker Square
COSTAR
The future of landmark Shaker Square on Cleveland s East Side just hit a surprise twist as the lender has filed to appoint a receiver to replace 18-year owner Coral Co. of Cleveland.
Editor s note: The original story was updated on Wednesday, Dec. 23, with comments from the property owner on the court case.
Breaking stride with lender forbearance and other measures that shopping center owners have used to cope with the pandemic s economic fallout, the lender behind an $11 million mortgage on Shaker Square has filed to seize the property through a foreclosure proceeding.
Wilmington Trust National Association of Delaware and Washington, D.C.-based special servicer CW Capital Asset Management on Dec. 17 filed a foreclosure proceeding in Cuyahoga County Common Pleas Court to recoup the landmark shopping center on Cleveland s East Side from Coral Shaker Square LLC, an affiliate of Coral Co. real estate development and management concern.
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RTA urges federal government to provide more coronavirus aid for public transit
Updated Dec 09, 2020;
Posted Dec 09, 2020
RTA was among nine transit agencies on Wednesday urging the federal government to provide more coronavirus aid. Lisa DeJong, The Plain Dealer
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CLEVELAND, Ohio Greater Cleveland Regional Transit Authority on Wednesday was among nine transit agencies that urged the federal government to provide more emergency coronavirus aid for mass transit before the end of Congress’s lame-duck session.
RTA, along with transit systems in New York, California’s San Francisco Bay Area, Denver, New Orleans, Indianapolis, Philadelphia, Miami, and Utah, said the money is desperately needed to avoid deep service cuts, lay-offs, or other austerity measures.
Transit officials around the country warn of service cuts and layoffs pix11.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pix11.com Daily Mail and Mail on Sunday newspapers.