BENEFITING: TREMONT WEST DEVELOPMENT CORPORATION
EVENT: Nurture an Idea Award 2016
EVENT DATE: Oct 24, 2016
Matthew Moss wrote -
Social Venture Capital provides everyone with an opportunity to transform their communities and neighborhoods into dynamic places that anyone can afford to live in. By pooling financial and human capital and directing it to solve problems created by decline and disinvestment,
Tremont West Development Corporation and Famicos Foundation are proposing to jointly carry out a community process and engage relevant expertise to establish Ohio’s first Real Estate Investment Cooperative (REIC). This REIC would acquire, redevelop and manage mixed use and “Missing Middle” properties with the express intent of protecting affordable workforce housing in Cleveland neighborhoods experiencing private market speculation that is driving housing prices beyond the reach of the working and middle classes.