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GROWTH Builds New Homes in Parma Heights

Homepage Growth News GROWTH Builds New Homes in Parma Heights
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GROWTH Builds New Homes in Parma Heights

October 8, 2021
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GROWTH by NCRC Builds New Homes in Parma Heights

GROWTH by NCRC and Cleveland Custom Homes Break Ground on Twelve New Builds in Parma Heights, Ohio

The NCRC Housing Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC, broke ground on 12 lots dedicated to new construction in Parma Heights, Ohio. GROWTH is partnering with Cleveland Custom Homes (CCH) to build the project. Lincoln Village, located near Stumph and Snow Roads, is one of a few, select communities in the Greater Cleveland area that will feature Cleveland Custom Homes’ new American Dream Series homes. The American Dream Series offers an affordable homeownership option in a real estate market starved for entry-level and starter homes. The community will feature 12 new-construction, single-family ranch-style homes starting in the $240,000’s. At 1,292 sq. ft. the homes will feature three bedrooms, two full baths, and an attached garage.

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, a national, community-bank homeownership initiative, has invested over $123 million in 780+ homes nationwide.

“Homeownership is at the center of the American Dream, and we believe very strongly in its capacity to build multi-generational wealth,” said Edward Gorman, GROWTH’s director. “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 minority communities, given the current inventory shortages and increasing price tags. To create pathways to ownership, we partner with local experts like CCH to find properties that will give our folks a great shot at building wealth.”

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. “It’s exciting to finally break ground in Lincoln Village where the first American Dream Series homes will be built,” says Jeff Crawford, President of Cleveland Custom Homes. “The recent groundbreaking activity puts us on the path of bringing the American Dream to 12 individuals and families that will now have an opportunity to own a home in the City of Parma Heights.”

City Planning and Zoning recently approved 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.

The first homes are expected to be complete at the end of 2021.

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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.

 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.

Tags: Affordable homeownership affordable homes ohio cleveland custom homes new construction northeast ohio New construction Parma Heights new homes parma heights

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    GROWTH is an initiative of the National Community Reinvestment Coalition (NCRC), designed to create pathways to homeownership for low- and moderate-income (LMI) individuals and families while improving property values for LMI communities.

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    Monday, 22, Mar
    Spring Cleaning Tips for a Sparkling Home
    Tuesday, 12, Jul
    Five Common Homeowner Questions for First-Time Buyers
    Monday, 27, Jun
    GROWTH by NCRC Managing Director Ed Gorman Leads Affordable Homeownership Session at NCRC’s Just Economy Conference
    Friday, 15, Apr
    Many Americans Resort to Risky Financing to Purchase a Home
    Friday, 1, Apr
    From Wall Street: Forget Owning. Rent the American Dream Instead
    Saturday, 26, Mar
    GROWTH Story: Why Our Life-Changing Mission is so Important to Me.
    Tuesday, 22, Mar
    Tips for Single Parents Looking to Buy a Home

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