Cincinnati Development Fund

Last week we had the honor of sharing our annual impact report with Cincinnati City Council's Equitable Growth & Housing Committee. Thanks to Cincinnati Public Radio for covering the story. In the last fiscal year, CDF:

🔵 Provided $43MM in total affordable housing lending to 20 unique projects, representing $351MM in total development costs.
🔵 Financed 1,082 total housing units, including 948 affordable units, 84% of which are units serving people at our below 60% AMI.
🔵 Of those 948 units, 640 are in the city and 308 are outside of the city limits.
🔵 Engaged 5 new private funders to support our affordable housing work.

We're starting the new fiscal year with a robust pipeline of projects and are eager to continue contributing more housing units to the market in partnership with many, many others. Please see our website for more information and for the complete report.

An affordable housing fund financed nearly a thousand new units over the last year The 948 housing units are all affordable to residents making 80% or less of the area median income, and most are affordable at 60% AMI.

CDF is thrilled to kick-off a three-part education series with our partners at ULI Cincinnati and the 2030 District starting on May 13.

The Case for Energy Efficient Buildings series is designed to help developers, owners, and real estate professionals understand how to plan, implement, and finance high-performance buildings in today’s market. This series builds on sessions the City of Cincinnati sponsored this month and will be relevant whether you have 2 units or 200+ units.

For more information and to register, see ULI's website: https://cincinnati.uli.org/events/detail/757CC4E1-A4BC-4D15-A8ED-083843EF1F2A/

This project epitomizes the importance of partnership and patience in real estate development. QCE Development is bringing South Fairmount's St. Leo the Great School building back to life and turning it into 25 apartments for residents age 55 and older earning no more than 60% of the area median income. CDF was pleased to provide financing in multiple forms, including a traditional mortgage loan and a Historic Tax Credit Bridge loan. We also directed City Of Cincinnati Affordable Housing Trust Fund and City ARPA funds to the project.

This Cincinnati Business Courier article says the developers "want to continue their partnerships with CDF and the city--partnerships that fell into place in the years after founding QCE Development and motivated the pair to evolve their business model with each successive project." This is a great example of how we're working to align financing tools to help accelerate affordable housing development. When we build the tools and focus on a shared outcome, we can achieve a great deal. With a common vision, our neighbors will have greater access to high-quality, safe and affordable housing. That's the goal.

Startup developers begin $5M housing project in North Fairmount - Cincinnati Business Courier A pair of upstart developers in Eric Carlson and Justin Freeman have started their largest project yet in Cincinnati.

We are growing! Cincinnati Development Fund is hiring for 3 positions:

Community Impact Analyst
Legal/Executive Admnistrator
Loan Officer/Relationship Manager

We're looking for mission-driven professionals to join our team. Please see more information about each position on our website and on Linkedin.

Careers Careers At CDF, we work hard to make a difference in the communities we serve. Our core values – committed, consistent, creative, collaborative, connected and courageous – are evident in everything we do. We offer competitive pay along with comprehensive benefits options including medical, denta...

Our team was honored to play a small role in supporting the opening of Hope Cottage, a new residential housing option in Delhi for adults with developmental disabilities. This week we celebrated the ribbon cutting with partners at Hamilton County, Ohio - Government, St. John's Westminster Union Church, Southwest Association of the United Church of Christ, EmpowerMe Living, Kendall Building Group, and Ohio Valley Residential Services. John Reiser, CDF's Senior Loan and Program Officer, worked with EmpowerMe Living for several years to help the project come to life. Congratulations to all! More details in the comments below.

We are so grateful to the MassMutual Foundation and KeyBank Foundation for investing in the Affordable Housing Leverage Fund so we can support efforts to build more affordable housing in the region. By combining local and national resources, we are seeing how strategic financing can make projects come to life more quickly. Since January, CDF has raised $4.9 million for the Fund and we look forward to continued growth in 2026.

Two national foundations boost Cincinnati’s efforts to build more housing - Cincinnati Business Courier “This funding enhances our ability to meet the region’s growing demand for affordable housing, and it affirms Cincinnati’s leadership in creating innovative solutions that can be replicated across the country."

Big news for Cincinnati’s affordable housing future!

Cincinnati Development Fund has received a $400,000 grant from the MassMutual Foundation to expand the Affordable Housing Leverage Fund (AHLF), a key tool helping more affordable housing projects move from idea to groundbreaking faster.

This grant strengthens our region’s ability to:

✔ Support local developers building affordable homes
✔ Break through early financing roadblocks
✔ Scale a model that is gaining national attention

CDF is leading innovative housing finance solutions that other U.S. cities are now looking to replicate. This moment reflects not only local need, but national belief in what Cincinnati is building.

We are grateful for the MassMutual Foundation’s partnership, Investment, and support of equitable housing access.

Many thanks to the American Red Cross Central & Southern Ohio Region and the American Red Cross Training Services for leading our staff through Adult and Pediatric First Aid/CPR/AED training. Thanks to our wonderful trainer Yolanda, 14 staff members are now certified to help should emergencies arise. CDF is committed to creating a safe working environment and equipping our staff to help when needed, whether at work, at home, on a job site, or out in the community. We highly recommend the training for all work places!

Earlier this week, we joined Kaiker Development + Construction and numerous supporters, partners, neighbors and friends for an incredibly meaningful ribbon cutting in Lower Price Hill. State Avenue Lofts brings 12 affordable residential units to the neighborhood in 2 rehabilitated buildings. The energy at the event was electric, with neighbors and partners happy to see this investment in the community and thrilled to see one of the city's newer developers complete their largest project to-date. CDF provided two loans and directed County ARPA funds to the project. This project required several financing tools and we are so grateful to be a part of it. Congratulations to Kai and the entire Kaiker Development + Construction team!