The Center for Great Neighborhoods of Covington has completed the rehab of over 30 historic homes and one commercial property. The nonprofit in Covington, KY, also builds the leadership capacity of youth and adult residents, supports resident-led associations, offers activities that foster leadership and community involvement among kids, and provides financial education for teens and adults.
The center is converting a former lumber mill into its new headquarters, community meeting/event space, and 12 artist studios. As part of the Midwest Nonprofit Lenders Alliance, IFF is providing a $1.75 million loan with the Cincinnati Development Fund to help the center make renovations to the 13,800-square-foot building. The center applied for federal historic status for the circa-1880 building as well as federal and state historic tax credit equity.
The center employs 13 employees and estimates adding two positions as a result of the larger facility. The $2.2 million project will allow the center to have presence on a major commercial corridor in the Westside neighborhood, where it has concentrated efforts for several years. The center recently received a $1.5 million grant as part of The Kresge Foundation’s creative place-making initiative. The initiative’s goal is to integrate arts and culture into neighborhood revitalization activities.