Cleveland expected to approve $30 million for ‘housing for all:’ Stimulus Watch

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That $35 million – $5 million of which has already been allocated to the Woodhill Homes project – will predominantly go toward affordable housing ($25 million) but also toward “market-rate” housing ($10 million), according to city documents.

Lucas Daprile, cleveland.com

The city’s goal is to “leverage” the $35 million in public funding to solicit private funding for projects, with a goal of getting eight dollars in private funding for each one dollar in public funding. “I believe there has to be a game plan for building single family homes… to get folks out of the projects, to get them out of poverty, make them stakeholders, investors in our neighborhoods,” Polensek said.

“The goal is for this to deconcentrate poverty, instead of having these islands of poverty that currently exist,” Griffin said. Part of the reason Cleveland is focusing dollars on housing more accessible to the middle class is to attract a workforce, Wackers said.The city knows $30 million won’t come close to fixing its housing issues, which Wackers said has suffered from decades of weak investment. That’s why the city is trying to get private companies, government agencies, nonprofits and others to share some of the cost.

“Our homeless services need to be disrupted in Cuyahoga County. They’re failing,” McCormack said. “We need to do a better job in not only gaining more resources… we just have to work smarter.”

Source: Real Estate Daily Report (realestatedailyreport.net)

 

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