Adding to a small but growing group of new Slavic Village residents, the fifth homebuyer moved into the Trailside Homes development earlier this month. Slavic Village Development Executive Director Chris Alvarado says the group of new homeowners represents the neighborhood and then some.

"This is reflective of the entire city," says Alvarado. "We're bringing folks in from the suburbs as well," he adds, noting that the newcomers are young couples and singles that have also come from Cleveland proper. They've been moving in since late 2013.

The newest resident discovered the project during a Rooms to Let event earlier this year, which coincided with an open house at Trailside.

The homes range from $119,000 to $132,000 and 1,155 to 1,367 square feet. Financial incentives include down payment assistance and 15 year tax abatement.

"These are all energy star homes," says Alvarado, with estimated maximum utility bills of $70 per month, which includes winter heating. "You're talking about less than $700 a month for all of your home expenses."

Construction of Trailside started in 2013, with work focusing on streets, infrastructure, connections to Morgana Trail, and construction of the first ten homes. The development could eventually include between 70 and 100 homes, although the next construction phase is still in the planning stage. The project has been in the works for years, and the developers hope that sales will now pick up.

Third Federal Savings & Loan has driven the project and owns the unsold homes and future lots, which lie north of the organization's 175,000-square-foot Broadway Avenue corporate headquarters.

"Third Fed financed the entire project," says Alvarado, adding that they started back in 2011 when "the market wasn't that great." He lauds the company's commitment to the neighborhood.

"The partnership with them is not just in terms of expanding their campus and building Trailside," says Alvarado. "They have a foundation that is heavily invested in youth development and working with the schools." Other partners on the Trailside collaboration include Zaremba Builders and Progressive Urban Real Estate.

The Trailside project represents Slavic Village Development's vision for the entire Broadway/Slavic Village area, which offers a level of affordability that is largely unavailable in downtown Cleveland or trendier neighborhoods like Tremont. As the community slowly recovers from the devastation of the housing crisis, advocates hope that the neighborhood's assets will eventually drive growth.

"In order for us to stabilize the neighborhood and help people stay here and thrive, they need to have all the things that are a part of a strong neighborhood," says Alvarado, citing strong schools, youth programs and a "dense network of partners that work with one another so that whatever needs you have as a family, we're able to meet those needs and do it in an affordable way."

Perhaps the most unique feature of the Trailside project is that it backs up to Morgana Run, a two mile bicycling and walking path. The Towpath is also easily accessible, and plans are in the works to connect the trail to downtown.

"I want to make sure that this is a neighborhood that is beautiful," Alvarado says, "and has all the services and amenities you could possibly want."