EDEN's office hours are 8:30 am - 4:45 pm. The agency will close at 1:00 on the following Fridays in August: August 7, 14, 21, and 28. While appointments are encouraged, vendors and visitors will be permitted at HQ or any EDEN site. Please call our main line 216-961-9690 for scheduling. | Questions? Email edeninfo@EDENcle.org and we will respond.

August 2026

CLEVELAND, OH — EDEN is pleased to announce the successful closing of a New Markets Tax Credit (NMTC) transaction that provided critical financing to support the renovation and expansion of the Norma Herr Center, a transformational project that strengthens emergency shelter services for individuals experiencing homelessness in Cuyahoga County.

The transaction closed on July 29, 2026, representing years of planning, collaboration, and partnership among public, private, and nonprofit organizations committed to expanding high-quality shelter and supportive services in the region.

The New Markets Tax Credit equity filled a critical gap in the project's development budget, ensuring the completion of the newly renovated and expanded facility, which will provide a safe, welcoming, and dignified environment for individuals and families as they work toward permanent housing and greater stability.

EDEN engaged Chicago-Based SB Friedman Development Advisors as its New Markets Tax Credit consultant to structure and facilitate the transaction. CohnReznick LLP provided specialized accounting expertise, while Applegate, Thorne-Thomsen, P.C. of Chicago served as outside legal counsel throughout the process.

Several Community Development Entities committed New Markets Tax Credit allocations to the project, including The Finance Fund, Enterprise Community Partners, Building America CDE, and Capital One. As the primary investor, Capital One provided more than $9 million in equity, making the financing package possible. Enterprise Community Loan Fund also provided bridge financing to support the transaction.
The successful closing was made possible through the partnership and support of the City of Cleveland, Cuyahoga County, the Ohio Department of Development, the Ohio Department of Behavioral Health and the Federal Home Loan Bank of Cincinnati.

"The Norma Herr Center renovation and expansion represents far more than a construction project. It represents a beacon of hope and an open door to a fresh start." said Elaine Gimmel, Executive Director of EDEN. "This financing allowed us to close a critical funding gap and complete a welcoming and nurturing facility that will serve our community's most vulnerable residents for decades to come. We are deeply grateful to every partner who believed in this vision."

The renovated and expanded Norma Herr Center enhances the region's ability to provide safe and dignified shelter while connecting guests with housing-focused services, case management, and community resources that support successful transitions to housing.

This successful New Markets Tax Credit closing demonstrates what is possible when mission-driven financial institutions, government partners, and nonprofit providers work together to invest in projects that strengthen the community and improve lives.

Founded in 1991, EDEN's mission is to provide housing solutions to people facing the challenges of housing insecurities and homelessness. The agency owns and manages more than 260 units of scattered-site housing for individuals and families who have a member with a mental illness. It also owns and manages 850 units of Supportive Housing for chronically homeless individuals with an additional 112 units in development. EDEN owns the Norma Herr Center, an emergency shelter campus on Payne Avenue in Cleveland serving people experiencing homelessness in Cuyahoga County. Learn more at www.EDENcle.org.

 

 

 

 

 

 

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