Several apartment buildings near Shaker Square had deteriorated under out-of-town ownership. Mayor Justin Bibb’s administration and community groups said that the best way to revitalize them was to have a local company in charge.
They have gotten their wish.
The 15 apartment buildings, formerly known as the Steiner properties, are now controlled by Elevate Shaker Square LLC, which includes South Euclid-based Milton Property Management (Milton PM) and other investors. Lender Fannie Mae started foreclosing on the $22.6 million mortgage in 2024. The 14 buildings in Cleveland and one in Shaker Heights had been owned by Hatz One LLC and Hatz Two LLC, Brooklyn, New York-based real estate investment companies that had been controlled by the late Mendel Steiner…