Cleveland Custom Homes and GROWTH by NCRC Commit to Twelve New Builds
Cleveland Custom Homes (CCH), in partnership with The NCRC Housing Rehab Fund, LLC (NCRC HRF), marketed as GROWTH by NCRC, closed on twelve lots dedicated to new construction in Parma Heights, Ohio. Lincoln Village, located near Stumph and Snow Roads, is one of a few select CCH projects featuring their new American Dream Series Homes planned in the Greater Cleveland area. The community will feature 12 new construction single-family ranch-style homes starting in the $240,000’s. At 1,250 square feet, the homes will feature three bedrooms, two full baths and an attached garage.
With Parma Heights near full build-out, new construction is a rarity. The price point combined with a 10-year tax abatement provides homeowners a chance to enjoy the benefits of a new build for a payment comparable to area rents.
“Rents in Parma Heights for an older, similar-sized home range from $800-$1300 per month. Our American Dream Series offers people an opportunity to own a brand-new home for a similar payment. CCH is known for luxury custom builds. But most people don’t have the budget for luxury new construction. With the American Dream Series, now they can afford to own a new home and enjoy the benefits that come with it,” said Jeff Crawford, President of Cleveland Custom Homes.
City Planning and Zoning recently passed the Lincoln Village Project with unanimous support.
Mayor Mike Byrne enthusiastically welcomes this project. “My hope is that Lincoln Village results in housing opportunities to grow our community. I am looking forward to seeing this project progress and expand homeownership here in Parma Heights,” he said.
CCH has partnered with GROWTH by NCRC to support the project. A national investor-community collaborative, GROWTH provides homeownership opportunities in or for low- and moderate-income communities and people, focusing on communities and people of color. In five years, GROWTH has invested in over 700 homes nationwide.
“Homeownership represents the American Dream, an idea we believe in very deeply,” said Edward Gorman, GROWTH’s Manager. “We know that more people are seeking homeownership opportunities than at any time in our nation’s history, but the deck is stacked against working-class families and particularly against BIPOC communities, given the current inventory shortages and high price tags. To create pathways to ownership, we partner with local experts to find properties like Lincoln Village that will give our folks a great shot at building generational wealth.”
Construction on Lincoln Village will start spring/summer 2021.
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About Cleveland Custom Homes
We never settle. We never blend in. We do things differently because that’s just who we are. With over 90 years of combined experience, Cleveland Custom Homes, Cleveland’s premier luxury builder, is exceptionally capable and committed to delivering a custom home that you can be proud of and can share with your family and friends for generations to come.
Cleveland Custom Homes is a full-service builder specializing in the development, construction, and management of new single-family homes, multifamily communities, and commercial projects. We use the home building platform to ignite the power and passion in others, multiply the intelligence of others, and generate wealth to all who we serve.
For more information about Cleveland Custom Homes, please contact Jeff Crawford, jeff@clevelandcustomhomes.com, or visit www.clevelandcustomhome.com.
About GROWTH by NCRC
We believe that no matter where you start in life, or the neighborhood you live in, every family deserves the opportunity to own a home, to start building wealth and to enjoy the American Dream. Our mission is to make homeownership possible for more people.
GROWTH is an initiative of the National Community Reinvestment Coalition (NCRC) and is fueled by the NCRC Housing Rehab Fund (the “Fund”), a private equity real estate fund focused on rehabbing and building new construction single-family houses to provide affordable homeownership opportunities in low- and moderate-income communities or for low- and moderate-income people. The Fund has been operating for five years and is operating in over 15 cities.
For more information about NCRC Housing Rehab Fund, please contact Ed Gorman, egorman@ncrc.org, (202) 464-2728 or visit www.growthbyncrc.com.
