Market Overview

Groundbreaking Set for Second Phase of Slavic Village Housing Development


Dignitaries Set to Break Ground July 26 on
Second Phase of Trailside

Groundbreaking for the second phase of Trailside Slavic Village will
take place Thursday, July 26, at 3:00 pm at the corner of Aetna Rd and 71st
Street. Third Federal Chairman and CEO Marc A. Stefanski and other
dignitaries, including Cleveland Mayor Frank G. Jackson, will be on hand
to celebrate the next phase of construction, which features six
additional homes. The initial phase featured 10 new homes, all of which
are currently owned and occupied by residents enjoying the convenience
of being minutes from downtown.

This press release features multimedia. View the full release here:

Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

Third Federal is partnering with the City of Cleveland, Slavic Village
Development Corporation, and Knez Homes. The goal of the collaboration
is to continue the revitalization and transformation of the neighborhood
by focusing on brownfield redevelopment through property acquisition and
new construction of single-family homes, to attract new home buyers to
the neighborhood.

"My grandparents settled in Slavic Village in the 1890s and helped build
a vibrant, thriving neighborhood," said Marc A. Stefanski, chairman and
CEO. "Today, more than a century later, Third Federal remains committed
to supporting Slavic Village and enhancing the community by funding new,
energy efficient, affordable homes."

The City of Cleveland is supporting this project through development
grants to address the appraisal gap that exists when building new
construction in certain LMI (low-to-moderate income) census tracts
within Cleveland.

The development's second phase features single-family homes that meet or
exceed Cleveland's Green Energy Standards. The location, between Aetna
Road, East 71st and East 72nd streets, sits
adjacent to Third Federal's headquarters and the Morgana Run
multipurpose trail, which connects to the Cuyahoga Valley National Park.

Home prices for phase II start at $149,900, and will include 15-year
property tax abatements. Down payment assistance will be offered through
Third Federal, allowing prospective buyers to purchase a new home at a
very competitive price point.

More about the groundbreaking ceremony:

  • Thursday, July 26, from 3:00 -3:45 pm inside the Trailside
    development, East 71st Street and Aetna Road
  • Parking will be available on the streets of the development
  • Additional press materials will be available on location during the
  • Interviews will be available after the groundbreaking ceremony

Third Federal Savings and Loan Association (NASDAQ:TFSL), is a leading
provider of savings and mortgage products, and operates under the values
of love, trust, respect, a commitment to excellence and fun. Founded in
Cleveland in 1938 as a mutual association by Ben and Gerome Stefanski,
Third Federal's mission is to help people achieve the dream of home
ownership and financial security. It became part of a public company in
2007 and celebrated its 80th anniversary in May, 2018. Third
Federal, which lends in 21 states and the District of Columbia, is
dedicated to serving consumers with competitive rates and outstanding
service. Third Federal, an equal housing lender, has 21 full service
branches in Northeast Ohio, eight lending offices in Central and
Southern Ohio, and 17 full service branches throughout Florida. As of
March 31, 2018, the Company's assets totaled $13.96 billion. For more,
visit our website at

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