T
he Catalytic Fund has now finished 100 projects, each safeguarding investor capital while generating an economic impact roughly eleven times the size of its $32 million investment pool. The 100th venture—an abandoned Covington warehouse—illustrates the pattern. Orleans Development, a long‑time Northern Kentucky developer, is turning the derelict building into 39 market‑rate apartments that will revitalize the city’s Westside neighborhood. To realize this vision, Orleans turned to the Catalytic Fund, a community‑development financial institution that specializes in strategic real‑estate investments to rejuvenate Northern Kentucky.

    After a thorough due‑diligence review, the Fund supplied an acquisition and pre‑development loan, making this the nonprofit lender’s 100th loan to date. The project underscores the Fund’s commitment to unlocking the potential of underused spaces and sustaining the momentum of the region’s urban renaissance.

    Collectively, the Fund’s 100 projects total more than $500 million in investment, a remarkable achievement given the modest size of its capital base. “Reaching this milestone is a huge accomplishment for our team,” said Jeanne Schroer, president and CEO. “These projects demonstrate both the financial success of our strategy and the community impact of our investments. We look forward to creating new opportunities for businesses and residents and strengthening Northern Kentucky’s economic landscape with our growth‑organization partners.”

    Since its 2013 launch, the Catalytic Fund has transformed neglected or underutilized properties into vibrant spaces that spur economic activity and attract further investment. Its focus on housing, mixed‑use developments, and key commercial corridors has left a visible imprint across the river cities. Notable projects include:

    * **Hotel Covington** – A historic landmark was reborn as a modern boutique hotel, sparking downtown revitalization, job creation, and tourism.

    * **Kent Lofts** – A vacant Bellevue warehouse was converted into 66 loft‑style apartments, bringing nearly 100 new residents and stabilizing the neighborhood.

    * **Boone Block Lofts** – A Covington building was turned into nine townhomes that blend historic character with contemporary living, complemented by public art and a living wall.

    More recent investments feature the Burton Building in Dayton, which now houses 10 mixed‑income apartments and a new Wayfarer restaurant, and SparkHaus, a new entrepreneurship hub in Northern Kentucky.

    The Fund’s track record of never losing investor capital highlights its rigorous underwriting and due‑diligence processes. By collaborating closely with local developers, community stakeholders, and government partners, the Fund ensures each project’s long‑term success. Judge/Executive Kris Knochelmann praised the team: “Their rigorous analysis guarantees minimal risk while seizing impactful redevelopment opportunities. The Catalytic Fund’s potential to multiply its impact across Kenton County in the coming decades is immense.”

    Looking forward, the Fund plans to launch a dedicated housing production fund for Northern Kentucky and to broaden its investment footprint beyond the river cities into Boone, Kenton, and Campbell counties.

    A community celebration is scheduled for October 15 to honor outgoing founding Board Chairperson Chuck Scheper, welcome new Chairperson Bernie McKay, and commemorate the 100‑project milestone.

    For more information, visit www.thecatalyticfund.org.

    **About the Catalytic Fund**

    The Catalytic Fund is a private‑sector, not‑for‑profit community‑development financial institution that offers non‑traditional financing and advisory services. It serves developers, property owners, and investors across municipal, public, private, and non‑profit sectors, focusing on quality residential and commercial real‑estate projects within Northern Kentucky. The Fund’s strategic purpose is to attract and execute place‑based investments that drive regional economic development—jobs and talent attraction—and local community development—improved quality of life and place. Capitalized at $32 million through loans and grants from banks, foundations, private corporations, and the U.S. Treasury Community Development Financial Institution Fund, the Fund leverages expertise in real‑estate finance, urban planning, historic preservation, and community and economic development to transform revitalization plans into lasting assets.