A new effort to expand access to affordable housing in Northern Kentucky is gaining momentum—and it all started with a catalytic first step.

Greater Cincinnati Foundation (GCF) made an early $1 million investment in the Northern Kentucky Housing Fund, helping move the initiative from concept to action. Launched by The Catalytic Fund, the $25 million effort will support new housing development in Boone, Kenton and Campbell counties through flexible, below-market financing.

By stepping in early, GCF helped close a critical gap, providing the initial capital needed to attract additional partners and bring the fund to life.

“When projects need momentum, someone has to move first,” said Matthew Randazzo, president and CEO of GCF. “Our investment is about unlocking what comes next—bringing partners to the table and advancing projects that otherwise stall.”

A model for catalytic philanthropy

The Northern Kentucky Housing Fund reflects what’s possible when philanthropy is used to spark broader investment. GCF’s early commitment built momentum that’s helping the fund reach its $5 million launch goal. It’s a role philanthropy can often fill, providing seed dollars that leverage large investment dollars from more traditional funders.

“Until a partner is willing to make the first investment, projects can’t progress,” said Jeanne Schroer, president and CEO of The Catalytic Fund. “GCF provided the push needed to move this effort forward.”

Building on a longstanding partnership

This investment builds on nearly two decades of partnership between GCF and The Catalytic Fund. Together, the organizations have helped accelerate more than 100 projects and significant investments totaling more than $1.5 million in catalytic and grant capital across Northern Kentucky—laying the groundwork for this next phase of growth.

That history reflects a shared commitment to strengthening regional housing systems, aligning capital with community need, and creating the conditions for long-term success.

“Northern Kentucky’s success is essential to the strength of our entire region,” Randazzo said. “We are committed to showing up with the capital and partnership needed to help our community meet the moment.”

Expanding housing, strengthening the region

For GCF, this effort is part of a broader strategy to align resources, partners and capital around key regional priorities, especially housing and education.

Increasing the supply of homes people can afford is essential to ensuring that Northern Kentucky remains a place where individuals and families can live, work and build a future.

“This is about more than one investment,” Randazzo said. “It’s about building a system that works—one that ensures our region continues to grow in a way that is inclusive and sustainable.”

Join the effort

With early capital secured and momentum building, the Northern Kentucky Housing Fund is now positioned to expand its impact.

GCF and its partners are inviting fund holders, community leaders and regional partners to help bring the fund to full scale and accelerate progress on one of the region’s most pressing needs.

“Now is the time for partners across this region to step forward,” Randazzo said, “and help turn that momentum into lasting impact.”