A coalition of philanthropic, public and private partners has launched a $4 million housing incentive program to stimulate investment in and revitalization of Greater University Circle neighborhoods. The forgivable loan program targets an estimated 43,000 people who work in Greater University Circle and may consider buying homes there.
Greater Circle Living offers a $5,000 forgivable loan for down payment and/or closing costs for the purchase of an owner-occupied home by full-time employees of any nonprofit institution in Greater University Circle, a district encompassing portions of seven Cleveland neighborhoods.
Employees of Case Western Reserve University, Cleveland Clinic, Cleveland Museum of Art, Judson at University Circle and University Hospitals may be eligible for an additional $10,000 forgivable loan or one month’s rental reimbursement. Employees at these institutions currently living in the district may be eligible for $4,000 in matching funds for exterior renovations.
Greater University Circle encompasses portions of seven neighborhoods: Buckeye-Shaker, Fairfax, Hough, Glenville, East Cleveland, Murray Hill, and University Circle.
For more information, please visit the website of the Cleveland Foundation.
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