Deal to transfer ownership of historic Shaker Square to two nonprofits nearing completion

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Deal to transfer ownership of historic Shaker Square to two nonprofits nearing completion
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Good news for those looking to save Shaker Square; an “agreement in principle” has been announced involving the two local non-profits looking to purchase the historic shopping center.

CLEVELAND — Good news for those looking to save Shaker Square; an “agreement in principle” has been announced involving the two local non-profits looking to purchase the historic shopping center out of foreclosure.

"It would just get picked up by a developer, sat on and done nothing with. I mean, it's what we've seen with the residential properties,” said Shaker Square Alliance founder Charles Bromley. But once repairs are done, the hope is it spreads beyond the square itself."By saving Shaker Square it will have a domino effect and it will effect the apartments around the community,” said alliance member Meg Weingart.

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