Akron And Knight Foundation Announce Increased Support For The Well CDC's Housing Rehab Program

Akron, Ohio, July 13, 2023 — Today, at a press conference in Akron’s Middlebury neighborhood, the City of Akron, Knight Foundation, and the Well CDC celebrated the “Restoring Housing” program. Akron Mayor Dan Horrigan has committed $2.75M from the city’s allocation of American Rescue Plan Act (ARPA) funding along with $1.25 million in CDBG, HOME, and Lead funds for a total commitment of up to $4 million in funding towards the program. Akron Program Director for the John S. and James L. Knight Foundation, Kyle Kutuchief, announced today that the Knight Foundation has matched that support with its own grant of $4 million for a total investment of $8M towards rehabbing homes in the Middlebury neighborhood.

“We started The Well CDC in 2016 to invest in the Middlebury community in a way that honors the rich history and legacy of this place and its people,” said Executive Director of The Well CDC, Zac Kohl. “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.”

Restoring Housing Program:

• 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+ homes over the next 3 years

"I can't overstate the importance of improving housing in our communities," said Mayor Horrigan. "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."

Knight Foundation Program Manager Kyle Kutuchief said, “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.”