Businessman and philanthropist, George Gund, owned this house when he passed away in 1966. He became president of the Cleveland Trust Company in 1941and eventually became chairman. Gund became president of the Cleveland Institute of Art in 1942. Under his direction, the institute became a prestigious institution. The George Gund Foundation was created in 1952 and has made grants totaling more than $483 million. The Gund family owned the NBA Cleveland Cavaliers from 1983 until 2005. Quicken Loans Arena was known as Gund Arena until 2005.