MassMutual Foundation Awards $400,000 Grant to Cincinnati Development Fund to Expand Affordable Housing Leverage Fund

CINCINNATI, OH — Cincinnati Development Fund (CDF) has received a $400,000 grant from the MassMutual Foundation, marking a significant moment of national support for Cincinnati’s innovative approach to accelerating affordable housing development through the Affordable Housing Leverage Fund (AHLF).

The grant will expand CDF’s capacity to deliver catalytic financing that moves affordable housing projects from concept to construction, helping local developers overcome early funding barriers and advance high-impact projects more efficiently.

“We are honored to receive this support from the MassMutual Foundation and to see national partners recognize the strength of our model,” said Joe Huber, CEO of Cincinnati Development Fund. “This funding enhances our ability to meet the region’s growing demand for affordable housing, and it affirms Cincinnati’s leadership in creating innovative solutions that can be replicated across the country.”

The MassMutual Foundation’s grant aligns with its commitment to fostering financial resilience for all Americans and supporting organizations that expand economic opportunity in communities nationwide.

“Cincinnati Development Fund is delivering measurable, community-centered impact for families and neighborhoods through the Affordable Housing Leverage Fund,” said Dennis Duquette, President and CEO of the MassMutual Foundation. “We are proud to support a model that not only strengthens communities but also demonstrates how strategic financing can advance long-term, scalable change.”

MassMutual has a natural tie to the Cincinnati area through its wholly-owned subsidiary, MassMutual Ascend. The company has been based in Cincinnati for more than 30 years, employs more than 750 people, and remains involved in the Cincinnati community through financial support to nonprofits and employee volunteerism.

The Affordable Housing Leverage Fund, managed by CDF, is a critical tool for advancing local housing production goals and preserving existing affordable units. The fund has attracted growing interest from national institutions, foundations, and corporate partners who see CDF’s track record of success as a blueprint for accelerating affordable housing in other regions.