Neighborhood Progress provides real estate financing to catalytic community projects through its wholly-owned subsidiary, Village Capital Corporation.
Village Capital was founded in 1992 and is a AERIS-rated, certified Community Development Financial Institution with the U.S. Department of Treasury’s CDFI Fund.
Village Capital’s objective is to approve financing for catalytic projects that have community support and that advance the strategic efforts of a community. Village Capital is strong community partner that brings local expertise and financing assistance to high profile and challenging development projects.Village Capital finances market-rate and affordable residential, commercial, retail, industrial, as well as mixed-use real estate projects in Northeast Ohio. Village Capital primarily provides pre-development, acquisition, construction and mini-perm loan facilities to its borrowers, both for-profit and non-profit.
Over our history, Village Capital has provided over $65 million in loans to support over $873 million in total development costs for more than 200 separate real estate projects. Village Capital’s financing activities have helped to create and preserve over 7,400 residential units and more than 1.7 million square feet of commercial space.
For more information, contact Dione Alexander, President at 216.453.1454 or DAlexander@ClevelandNP.org
Board
OFFICERS
Michael Taylor / Chairman – PNC Bank
Joel Ratner / Vice Chair – Cleveland Neighborhood Progress
William Dalman / Treasurer – Huntington Bank
Stephanie McHenry / Secretary – Cleveland State University
MEMBERS
Norm Bliss – Key Bank
Robert Eckardt – Cleveland Foundation
Yvette Ittu – Greater Cleveland Partnership
Mark McDermott – Enterprise Community Partners
Jeffrey Patterson – CMHA
Patricia Ramsey – Fifth Third Bank
Ken Silliman – City of Cleveland
Douglas Wang – Saint Luke’s Foundation
Gordon B. Wean – Raymond J. Wean Foundation
Bill Whitney – Cuyahoga County Land Reutilization Corp.
PARTNERS / FUNDERS
The Cleveland Foundation
Enterprise Community Loan Fund
The George Gund Foundation
Greater Cleveland Partnership
Huntington Bank
US Bank
U.S. Department of Treasury’s CDFI Fund