LISC Fund Management in the Press: CHIF’s Funding for Affordable Housing in Cleveland

A media roundup of coverage on the Cleveland Housing Investment Fund (CHIF) and LISC Fund Management’s role in backing Parkside Homes and Walton Apartments.

This October, the Cleveland Housing Investment Fund (CHIF) — managed by LISC Fund Management (LFM) in partnership with LISC Cleveland — announced its first two investments: Parkside Homes and Walton Apartments. Those initial commitments mark a major step toward CHIF’s goal of deploying catalytic, flexible capital to fill financing gaps for affordable and mixed-income housing across Cleveland

CHIF launched in early 2025 with strong public-private backing: an $18 million grant from the City of Cleveland and a $20 million anchor investment from KeyBank, with the fund aiming to raise up to $100 million to support the city’s housing needs.

The first two investments demonstrate CHIF’s range and impact: Parkside Homes is a lease-purchase project creating homeownership pathways for families on Cleveland’s east side, and Walton Apartments will provide affordable senior housing serving lower AMI ranges. These deals illustrate CHIF’s focus on both for-sale and rental strategies to preserve and produce affordable homes.

Below is a roundup of notable media coverage about CHIF and LISC Fund Management’s:

• City of Cleveland – “Cleveland Housing Investment Fund Closes First Investments, Jump-Starts Affordable Housing Pipeline” — Official city press release announcing the first two deals for CHIF

• Spectrum News 1 — “Cleveland Housing Investment Fund starts investing”

• Crain’s Cleveland Business — “LISC issues first CHIF loans to two housing projects” 

  
  

• HERE Cleveland — “Cleveland Housing Investment Fund Launches New Projects”

  
  

• ImpactAlpha — “LISC’s fund gives renters a chance to become homeowners in Cleveland”