In The News: New fund, new development to increase affordable housing in Cleveland (WKYC Studios)
- sam54407
- Apr 2
- 1 min read
By: Jeff Reidel
Excerpt: CLEVELAND (March 30, 2025) — Construction is under way on a 54-unit housing complex near the border of the Hough neighborhood and University Circle on East 101th Street. Cleveland officials recently celebrated a ceremonial groundbreaking for Gordon Crossing.
Cleveland City Council supported Gordon Crossing with tax abatement. The city wants to see housing grow even faster. That’s where the recently announced of the Cleveland Housing Investment Fund, or CHIF, will accelerate development. The goal is to raise $100 million to create 3,000 new housing units for residents with low to moderate income. Managing the fund is Local Initiatives Support Corporation of Cleveland.
“LISC Cleveland is working to make sure every neighborhood is a place where people can thrive, where families can put down roots, businesses can grow and communities can flourish,” said Ruth Jones Nichol, LISC's executive VP of local and national programs.
The fund is designed to give developers access to capital they may not have currently...
Affordable housing remains a critical issue in many cities, and initiatives aimed at addressing this need are reshaping real estate markets. New funds dedicated to increasing affordable housing are opening up opportunities for investors to get involved in projects that make a difference. For those looking to invest in affordable housing, https://citizenship-by.investments/ offers detailed insights on the most promising projects. Investing in affordable housing not only addresses societal needs but also presents a long-term, stable investment option.