Larchmere Homes

Larchmere Homes is a new affordable housing development located in Wards 4 and 6 in the Buckeye-Shaker neighborhood.

This development consists of 30 single-family three-bedroom, two-bathroom homes. Two of the homes are ADA-accessible ranches. Through CHN Housing Partners' 15-year pathway to homeownership, families have the opportunity to lease the home at an affordable rate with an option to purchase once CHN has owned the home for 15 years.

The total development costs for this project were $10.5 million, which were secured through a variety of sources including Low Income Housing Tax Credits (LIHTC), City of Cleveland HOME Funds and construction and permanent bank debt.

The proposed site selection and submission of City Land Bank application, with support from CDC and Council, began in December 2020/January 2021. In May 2021, LIHTC awards were announced. Fall 2021/Spring 2022 marked a significant milestone as site selection, architectural drawings and financing began finalizing. Financial closing and construction started in September 2022.

The first homes were leased in March 2023 and construction was completed in Fall 2023.

• Year Completed: 2023
• Location: Buckeye-Shaker Neighborhood Cleveland, OH
  # of Units: 30
• Development Cost: $10.5 million
• Developer: CHN Housing Partners
• Owner & Property Manager: CHN Housing Partners
• Architect: City Architecture
• Contractor: CHN Housing Partners