Friday, 14 July 2023 15:17

Home Rehab Is Hot In Middlebury: New Funding For Well CDC Featured

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The City of Akron and the Knight Foundation are teaming up to fund further expansion of The Well Community Development Corporation's "Restoring Housing" Program.

The City will give them $4 million dollars in federal COVID relief and Block Grant funds, and the Knight Foundation is matching that amount. 

In the past 5 years, the Well CDC has been able to purchase and rehab 84 homes in the Middlebury neighborhood. This additional funding will allow them to complete another 58, and maybe more, homes over the next 3 years.

Akron Mayor Dan Horrigan says it is important to revitalize city neighborhoods, and that this project is a great example of how CDC's throughout the city are getting the job done.

"When we have vibrant, diverse neighborhoods like Middlebury, we need a housing stock that reflects that vibrancy. The work that the Well is doing to provide affordable, quality housing will help this area thrive, and I'm proud to support the Restoring Housing initiative."

In a press release from the City of Akron, The Well's Executive Director, Zak Kohl said “We believe developing a healthy housing pipeline starting with rehabbing the current housing stock will give residents the power to choose the type of housing that fits their current context and future aspirations. We are grateful that the City of Akron, The Knight Foundation, Western Reserve Community Fund, and PNC Bank have also committed to invest in restoring housing in Middlebury.”

Knight Foundation Program Manager Kyle Kutuchief adds, “As part of a larger strategy to strengthen the Middlebury Neighborhood, we’re proud to partner with the City of Akron to accelerate The Well’s ability to acquire, rehabilitate and rent homes.”

speakers

In front: Ward 10 Councilwoman Sharon Connor, Back row from left to right: Knight Foundation Program Manager Kyle Kutuchief, The Well CDC Business Manager and Middlebury resident Makita Gulley, Akron Mayor Dan Horrigan, Executive Director of The Well CDC, Zac Kohl (Photo Credit: City of Akron)

 

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