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Overview | Partner Biographies
MRN Limited Partnership (MRN) is a family owned and operated development and property management company. The company was established in 1975 by its' four partners Rick, Paul, Phyllis, and Judy Maron and is presently run by co-founder Rick Maron and his sons Ari and Jori Maron.
MRN is nationally known as specialists in the field of urban development. For 30 years MRN has demonstrated a high level of expertise in financing, new construction and historic renovation, property management, and marketing.
WHAT SETS MRN APART...
MRN prides itself on maximizing community partnerships to make development projects come to life. MRN and its partners have intimate knowledge of the complexity of financing urban development projects. Working closely with community development corporations, the city of Cleveland, and other local organizations, the partners of MRN are experienced in the financing of mixed-use projects, including:
- State and federal historic tax credits,
- New Market Tax Credits,
- Tax Increment Financing,
- Bond Financing,
- Utilizing non-profit and foundation sources,
- Façade and lost development rights construction easements, and...
- Mezzanine debt structures.
New construction and historic renovation set MRN apart from other development companies. Having a deep appreciation for dynamic urbanism, the MRN partners and their team understand how to work with multiple stakeholders to make projects exceed expectation and set a new standard for historic renovation and development.
Ten years ago MRN started purchasing property in and around East 4th Street and lower Euclid Avenue. After buying out 250 owners of property, MRN now controls the property between the May Company Building and the Colonial and Euclid Arcade from Euclid Avenue to Prospect Avenue. As a property management company MRN owns and manages four apartment buildings, totaling 160 units that unite East Fourth Neighborhood in downtown Cleveland.
MRN Ltd. is the only company to successfully complete an urban development project to scale in the city of Cleveland. With the 500,000 square foot development of East 4th Street complete, MRN Ltd. provides the general public a downtown experience they can only get on East 4th Street-the true essence of live, work, and play.
THE MRN COMMITMENT...
MRN views development projects and property management as an opportunity to create a vision for the future-and with hard work, tenacity, and partnerships MRN hopes to create the most sought after urban entertainment centers and mixed-use housing developments in the nation. MRN is committed to forming long-term relationships in which comprehensive problem solving addresses long and short term objectives.
At its core, MRN is deeply rooted in preserving the community it serves. MRN prides itself on creating a sense of place, bringing modern amenities to a neighborhood, and marketing those changes to a diverse group without stripping away the historic characteristics that make up a community.
The goal is never to change, or overhaul a neighborhood or city, but rather to expound upon the history of the neighborhood and enhance and update what already exists to provide an improved quality of life for its residents and visitors.
RECOGNITIONS...
In 1996 The Cleveland Growth Association/Downtown Marketing and Development Council presented MRN with the Downtown Recognition Award for outstanding achievement and contribution to downtown Cleveland for the renovation of The Historic Buckeye Building.
In April of 2005 MRN received the Robert P. Berman Award from the Convention & Visitors Bureau of Greater Cleveland for helping to build a greater Cleveland tourism industry, entrepreneurial vision and leadership. In addition, Downtown Cleveland Partnership awarded MRN with the Downtown Development Award for the historic renovation of FREDRICK @ Fourth, a 37-unit luxury apartment building on East 4th Street.
In October 2006, MRN Ltd. was honored with the 8th Annual Ruth Ratner Miller Award for their commitment to serving and preserving downtown Cleveland by creating a sense of place, bringing modern amenities to urban neighborhoods, and marketing those changes without stripping away historic characteristics.
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