344 in loans and investments totaling $36.2 million in the district in 2022
Stories from the District
232 Elm Street
Ludlow,
Kentucky
Catalytic Development Funding Corp. of Northern Kentucky
The Ludlow Historic Society completed this project to demonstrate the feasibility and marketability of restoring altered historic homes back to a high quality and historically appropriate condition. The Catalytic Fund provided this non-profit organization with a revolving line of credit to complete multiple house renovations over time.
Catalytic Development Funding Corp. of Northern Kentucky
The Boone Block project was an adaptive re-use of a mostly vacant historic building into nine for-sale townhomes. Orleans Development created one-of-a-kind residential units that feature car parking incorporated into living spaces. The project established a market for owner-occupied housing in a challenging location and returned a valued historic asset to the community. The project also features a public art installation by the London Police and a living wall, the first combination of these elements in the US.
Catalytic Development Funding Corp. of Northern Kentucky
The Bradford Building is a historically and architecturally significant building that was in danger of demolition by neglect when the Catalytic Fund acquired it in 2016. With development partner Orleans Development, the Catalytic Fund stabilized the structure then converted the building to a mixed-use property with five condominium units and five commercial spaces. The Catalytic Fund assembled the project’s entire capital stack and provided both an equity investment and a subordinate construction loan to fund the project.
Catalytic Development Funding Corp. of Northern Kentucky
The construction of 110 new market rate apartments with street level commercial space represented the first large-scale, infill, mixed-use project in the City of Covington in decades. Developed by NorthPointe Group and Bellwether Enterprise, this project anchors a multi-phase development which will eventually include residential units, Class A office space, and a parking garage and bring over $60 million in new investment to this community. The Catalytic Fund recruited the development team and provided development services that included assisting with property assemblage and sourcing development incentives.
Catalytic Development Funding Corp. of Northern Kentucky
Hotel Covington was a challenging project involving the conversion of a Class C office building into a 116-room upscale boutique hotel. Developer Salyers Group restored this architecturally significant structure (the former Coppins Department Store building) and created a unique destination for business and leisure travelers and the local community.
Catalytic Development Funding Corp. of Northern Kentucky
The Kent Lofts project was an adaptive re-use of a historic manufacturing building into 66 loft style, affordable market rate apartments. The Catalytic Fund provided an acquisition loan that allowed the development group (Ashley Commercial, Orleans Development, and Vision Realty Group) to solve the project’s complex pre-development issues and assemble the capital stack to fund construction. Once the developers obtained construction financing, the Catalytic Fund provided a subordinate loan to bridge receipt of Historic Tax Credit equity.
