Cleveland is actively advancing several affordable housing initiatives in 2025 to address rising rents and housing shortages.
Cleveland Housing Investment Fund (CHIF)
A major initiative is the Cleveland Housing Investment Fund, launched in March 2025 by the City of Cleveland in partnership with LISC Cleveland and KeyBank. With a goal to raise $100 million, CHIF plans to finance between 2,500 and 3,000 affordable housing units, including a minimum of 100 for-sale homes. The fund targets low to moderate-income residents, focusing on mixed-income rental housing preservation, new construction, and neighborhood-scale rehab projects, primarily in middle market and opportunity neighborhoods.
Modular and Innovative Housing Pilot
The city is piloting modular home construction, partnering with Habitat for Humanity to deliver six homes in the Buckeye and Clark-Fulton neighborhoods in fall 2025. This method reduces costs and accelerates construction, with a manufacturing facility planned to potentially launch production by early 2026. The pilot homes incorporate community input to ensure resident needs and preferences are met.
Major East Side Housing Developments
Several large projects on Cleveland’s East Side are progressing:
- A new 159-unit Midtown apartment complex focused on workforce and student housing.
- The Warner & Swasey redevelopment converting a historic factory into 112 affordable apartments for seniors and families.
- Gateway 66, a 76-unit affordable housing project approved for financing with an emphasis on family housing.
- Hough Senior Independent Living with 55 units for older adults also received funding approval.
Financing and Support
The Port of Cleveland approved $92 million in financing for multiple housing projects, including 136 affordable units at Watterson Lake Apartments aimed at households earning 80% or less of area median income. The City of Cleveland’s Department of Community Development also provides grant programs supporting affordable housing construction and preservation with HUD and local funding.
These combined efforts showcase Cleveland’s comprehensive and multifaceted approach to grow affordable housing supply, utilize innovative construction technologies, and engage community stakeholders in 2025.
Sources
(https://www.clevelandcitycouncil.org/city-cleveland-and-lisc-unveil-cleveland-housing-investment-fund-details-and-100-million-goal)
(https://www.clevelandohio.gov/news/clevelands-next-chapter-affordable-housing-modular-pilot-coming-clark-fulton-and-buckeye-fall)
(https://neo-trans.blog/2025/07/18/537-apartments-for-clevelands-east-side-get-boost/)
(https://ohiohome.org/news/releases/2025/july-fundedprojects.aspx)
(https://www.portofcleveland.com/port-of-cleveland-approves-92-million-in-financing-for-housing-and-hotel-projects-fueling-regional-growth/)
