Affordable Housing Leverage Fund 

At CDF, we work hard to make a difference in the communities we serve.

John Arthur Flats

John Arthur Flats is a 57-unit, affordable senior project in the Northside neighborhood of Cincinnati. CDF provided predevelopment financing to assist with architectural, engineering and environmental expenses during the early stages of the project. The units are available to seniors earning 60% or less of the area median income.  

Impact: 

  • 57 affordable units at 60% AMI and below 
  • Blight removal and redevelopment of a vacant store/parking lot 

Amount: $500,000 

Slater Hall   

CDF provided predevelopment financing to Slater Hall, a 62 unit, permanent supportive housing project in the West End neighborhood of Cincinnati. The project was a partnership between Tender Mercies, the nonprofit operator and sponsor, and Over-the-Rhine Community Housing, a nonprofit developer.  

Impact: 

  • 62 units of permanent supportive housing 
  • Activation of a vacant lot 

Amount: $500,000  

Vandalia Point  

Vandalia Point is a multi-family, multi-site project with 52 units serving families earning between 30-60% AMI in Cincinnati’s Northside neighborhood. The project involved the construction of one new building and the rehabilitation of two other buildings. It was co-developed by Urban Sites and Over-the-Rhine Community Housing. CDF provided a predevelopment loan and directed Hamilton County ARPA funds to the project. 

Impact: 

  • 52 affordable units, 30-60% AMI 
  • Construction of new building, rehabilitation of two existing buildings 
  • Increased population to support neighborhood business district 

Amount: $705,000 predevelopment loan, $2,700,000 subsidy (Hamilton County ARPA) 

Maple & Montgomery

Maple & Montgomery is a $58 million, 174-unit senior affordable housing community in the City of Norwood, Ohio. Located on the site of a former hotel, the project will provide high-quality, affordable housing to seniors earning less than 70% AMI. CDF participated in the project by providing a Construction loan and by directing County ARPA dollars. 

Impact: 

  • 174 new affordable units (35 income restricted at 50% AMI, 104 income-restricted at 60% AMI, 104 income-restricted at 70% AMI)  
  • Blight removal and activation of high visibility site in first-ring suburb 

Amount: $1,500,000 Construction Loan, $4,000,000 subsidy (Hamilton County ARPA)  

The Bridge

The Bridge is a mixed-use, multi-family affordable rental housing development in the Evanston neighborhood of Cincinnati. The $8.2 million investment included the rehabilitation of 3 vacant and blighted historic buildings in the heart of the neighborhood business district.   

Impact: 

  • Three buildings rehabilitated, 27 affordable units created, 6,735 sf of commercial space activated 
  • $8.2 million investment in Evanston 

Amount: $2,520,000 CDF Construction Loan, $250,000 Storefront Activation Loan, $1,800,000 City of Cincinnati Affordable Housing Trust Fund, $1,300,000 City of Cincinnati ARPA (City subsidies directed by CDF) 

Photo Credit: Phil Armstrong

State Avenue Lofts

State Avenue Lofts involved the complete rehabilitation of two historic buildings in Lower Price Hill by Kaiker Development + Construction, an emerging Cincinnati-based developer. CDF provided three notes to the $2.6 million project, which created 12 affordable units. 

Impact: 

  • Complete rehabilitation of two historic buildings in Lower Price Hill 
  • Creation of 12 affordable units 
  • Support for emerging developer 

Amount: $630,000 CDF Direct Loan, $349,475 CDF Historic Tax Credit Bridge Loan, $720,000 forgivable loan (Hamilton County ARPA)  

Paramount Launch  

Paramount Launch is the $30 million, 56-unit mixed-income, mixed-use project at 954 East McMillan Street in Walnut Hills and the renovation of the Durner and Race Refrigeration buildings on Gilbert Avenue, now home to Mortar and Artworks, respectively. CDF participated in this high-impact project in multiple ways, bringing diverse funding sources to this project in support of neighborhood business district activation, affordable housing development, and support for community-serving nonprofit organizations. 

Impact: 

  • Rehabilitation of two high profile buildings and new construction of one building 
  • Activation of business district 
  • On-site parking to support the business district 
  • New housing units added along transit corridor  

Amount: $900,000 forgivable City of Cincinnati Affordable Housing Trust Fund, $350,0000 recoverable loan (Hamilton County ARPA) 

Photo Credit: Phil Armstrong