In The News: New Cleveland housing investment fund aims to fill gaps in the market as costs rise (News 5 Cleveland)
- Apr 2, 2025
- 1 min read
By: Michelle Jarboe
Excerpt: CLEVELAND (March 18, 2025) — At a former elementary school on Cleveland’s West Side, the corridors don’t lead to classrooms anymore. Lockers still line the walls. But they’re waiting for tenants – not kids – to stash their stuff.
A local development group is almost done turning the historic Nathaniel Hawthorne School into 37 apartments, with rents starting around $1,100 a month. The goal is to build a community that nurses, schoolteachers and young professionals can afford...
...On Tuesday, Mayor Justin Bibb and officials from the LISC, a national nonprofit community development organization, announced the formal debut of an investment fund designed to meet a deep need for mid-priced housing.
The Cleveland Housing Investment Fund will provide flexible loans – and, in some cases, preferred equity – for developers of rental and for-sale housing. Those investments will be aimed at relatively small projects like Hawthorne, with less than 50 units.
this article about the new Cleveland Housing Investment Fund was really insightful because it highlights a serious issue so many cities are facing right now — rising housing costs and the growing need for affordable, sustainable solutions — it’s encouraging to see initiatives that focus on filling gaps in the market in a way that supports long‑term community stability instead of just short‑term fixes, the fund’s approach to encouraging investment while also prioritizing equitable outcomes feels like a thoughtful balance and makes you realize how complex social challenges really are and how they require cooperation from different sectors to make progress, reading about it also reminded me that in our own lives whether we’re tackling challenging projects, managing workloads, or…
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