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Update #6

Bond Street Statement on Agreement with Azteca Coalition

Bond Street has formalized an agreement and partnership with Club Azteca, Inc., Comite Mexicano de Cleveland, the Young Latino Network, and the Mexican American Historical Society (collectively, the “Azteca Coalition”), with the support of the Cleveland Foundation, related to the future of the Project, and the Club Azteca building at 5602 Detroit Avenue.

The partnership, a result of nearly 12 months of earnest conversations, education, and cooperation, guarantees the rich history of Club Azteca will be captured and honored for generations to come, and, importantly, fortifies the future of Club Azteca’s mission-driven endeavors.

“The dialogue we have had with the Azteca Coalition over the past year, culminating in this exciting partnership – we cannot overstate how much we have learned through our conversations. We think this process is a testament to what can be achieved through thoughtful public engagement, and empathetic real estate development.” Said Bond Street Principal Justin Strizzi. “The Project is stronger thanks to this process, and the value the Azteca Coalition has brought to it.” He added.

The next major step for Waverly & Oak is a Final Review with the City’s Landmarks Commission on Thursday, April 8th. As part of its agreement with the Azteca Coalition, Bond Street will contribute funds from the Project to an endowment for the Mexican Community, centered around Club Azteca’s decades long mission of social justice.

Bond Street noted that the Project, and the future of the Club Azteca organization, are now pending approval by the Landmarks Commission.

“We are proposing a project that will be truly special for the neighborhood and for the city. We have relied heavily on feedback from local stakeholders and neighbors, to gain insight as to what a project built on this site should deliver. The building we are presenting to Landmarks on Thursday accomplishes each of the neighborhood’s goals, and now will also provide a future for the Club Azteca organization.” Strizzi added.

Bond Street, and the Waverly & Oak project, have earned the full support of Ward 15 Councilperson Jenny Spencer.

"I deeply appreciate the partnership and community leadership shown by so many individuals since the February 25th Landmarks Commission hearing. I admire the Mexican-American and Latinx community leaders who came together to form the Azteca Coalition, and I am impressed by Bond Street's engagement as an active partner to reach this favorable outcome. Waverly & Oak represents a major and significant new investment on Detroit Avenue and I urge the Landmarks Commission to approve the project.” Said Spencer.

Bond Street will also present the project to the Local Historic Design Review Committee on Wednesday April 7th. In advance of the meeting, Adam Stalder, Executive Director of the Detroit Shoreway Community Development Organization shared their support for the project as well, stating, “This project is proof that developers can, and should, work with the community. DSCDO is proud of the community members and advocates who fought hard for this solution and for the preservation of Mexican American history in Cleveland. DSCDO joins the Azteca Coalition and Councilmember Spencer in supporting this project.”