Last week, we announced the latest round of awards from the Affordable Housing Leverage Fund (AHLF). $11.2MM to 12 projects delivering 357 units of affordable housing to Cincinnati residents. We’re proud of the results and – because it matters to those results – the process we used to get there. A little on both, then. This is all possible because the City of Cincinnati and Hamilton County, in their genuine wisdom, committed to investing in CDF together. This allowed us to consider a much larger pool of projects and advance multiple strategic priorities at once: - Leveraging state funding: aligning our timing with multiple state funding cycles allowed CDF to boost the chances of Cincinnati-area projects for highly competitive state funds; - Targeting affordability in “hot” neighborhoods: specifically encouraging affordability in areas seeing lots of investment delivered projects in OTR, Walnut Hills, Northside, and Evanston; - Building developer capacity: continuing to support the growth of smaller developers to expand the region’s capacity to build, and affordably. This round of awards brings the total AHLF investment since late 2022 to $51 million in grants and loans to 44 projects delivering 1448 units (1357 income-restricted, 85% at 60% AMI or less). Work that responded to a loud community demand for affordability. And with an active pipeline of 19 projects (1055 units) seeking AHLF funding, that work continues.
CDF’s Affordable Housing Leverage Fund (AHLF) is pleased to announce 12 awards totaling $11.2 million to development projects committed to producing or preserving 357 affordable housing units in Cincinnati. 85% of the units serve Cincinnatians earning 60% AMI and below. The projects are located in 8 different neighborhoods and range significantly in size of developer and unit count. CDF manages AHLF on behalf of multiple funders, including the City of Cincinnati and Hamilton County, to make investments in critical affordable housing projects. This round of awards illustrates the AHLF’s role in deploying multiple funding sources together, which advances the strategic goals of leveraging other funds, bringing affordability to high-investment areas, and growing the developer pool. We are grateful to our financing and developer partners for their commitments to bringing much-needed affordable housing to Cincinnati. See the complete list of projects on our website.
CGO and Co-Founder, TeamCentral
8moLuke - have not connected in a while but great to see you continue to be involved in the community, and making an impact.