There’s no shortage of historical significance tied to Cleveland’s Shaker Square, the oldest planned shopping center in Ohio – and the second oldest shopping center in the nation.

Construction of Shaker Square began nearly a century ago in 1927 at the intersection of Shaker Blvd. and Moreland Blvd., where there was an existing public rail transit station (then known as the Shaker Heights Rapid Transit and currently the Greater Cleveland Rapid Transit Authority) connecting the suburbs to downtown. With the use of personal automobiles rising in the early 20^th century, the shopping center stood out as one of the first of its kind to accommodate cars.

With the ability to draw residents from across Greater Cleveland, Shaker Square quickly established itself as a top dining and retail destination. Over the decades since its formation, Shaker Square has been home to a range of successful restaurants, businesses, offices, and community programming.

In addition to attracting visitors from throughout Cleveland and its surrounding suburbs, the Shaker Square retail district serves the daily needs of Cleveland’s Buckeye, Larchmere, Woodland Hills, and Shaker Square neighborhoods. Residents of these neighborhoods depend on the Square for its amenities such as a grocery store, pharmacy, and access to public transportation.

Given the historic nature of Shaker Square and its importance to the surrounding neighborhoods, it’s long been a goal to keep the shopping center in the hands of local owners that recognize and have the community’s best interests in mind.

Prior to this purchase, Shaker Square suffered from deferred maintenance and other challenges – making clear the need for this jewel of a neighborhood to be protected and improved for current and future generations.

This is where local ownership comes into the picture. As of August 2022, Shaker Square is jointly owned by Cleveland Neighborhood Progress (CNP) subsidiary New Village Corporation and Burten Bell Carr (BBC). These local organizations, in partnership with FASS Real Estate Services, maintain the property and pursue development opportunities that bring economic vitality to the shopping center while preserving its historical roots and community ties.

Keeping ownership of Shaker Square in local hands was made possible with the support of the City of Cleveland, which approved $12 million in low-interest loans to CNP and BBC. Cleveland Mayor Justin Bibb and Councilwoman Deborah Gray, who represents Shaker Square, have prioritized efforts to revitalize the neighborhood.

This joint-ownership model has also created new opportunities for ongoing community engagement, allowing input from local residents and tenants to be prioritized,

Transferring ownership to CNP and BBC is designed to be a temporary move. Work is underway to create a future for the Square that includes local, long-term ownership that provides essential services to area residents and visitors while reinventing the historic district into a bustling retail hub.

Support has also come from philanthropic sponsors, including the Saint Luke’s Foundation and the George Gund Foundation.