CLEVELAND, OHIO — Cuyahoga Land Bank is proud to announce a powerful new partnership with First National Bank (FNB), the banking subsidiary of F.N.B. Corporation, to support homeownership in the Circle East District. Through this partnership, eligible homebuyers may receive up to $40,000 in combined financial assistance, including a $20,000 builder interest rate buy-down made possible through a grant from Cuyahoga Land Bank, and $20,000 from FNB, which includes $15,000 in down payment assistance with an additional $5,000 toward closing costs. This powerful combination can significantly reduce monthly mortgage payments and make homeownership more accessible to buyers in one of Cleveland’s most promising new neighborhoods.

In addition to generous financial assistance, buyers in the Circle East District will benefit from long-term savings and sustainability features built into every home. The development includes more than 200 new homes, each offering a 15-year, 100% property tax abatement, rooftop solar panels, electric vehicle charging plugs and other high-efficiency, all-electric systems designed to reduce utility costs and promote environmentally conscious living. These features align with the district’s vision of creating a forward-thinking, inclusive neighborhood rooted in sustainability and innovation.

This announcement comes at a pivotal moment as some of the first homes in the Circle East District, a mixed-income, walkable residential development just minutes from University Circle, have been listed for sale. Built by local developers with a strong focus on sustainability, the neighborhood will offer a mix of single-family homes, townhomes and multifamily units, catering to a variety of household sizes and income levels.

“Homeownership builds generational wealth, strengthens communities and provides people with a lasting stake in their neighborhoods,” said Ricardo León, President and CEO of Cuyahoga Land Bank. “This partnership with First National Bank is exactly the kind of collaborative investment that transforms lives.

Together, we’re not only expanding access to homeownership, but we’re doing it in a way that honors the community’s vision for a vibrant future.”
First National Bank has long championed economic development through its corporate responsibility strategy, with affordable homeownership as a key tenet of its approach. The bank has demonstrated this commitment through its homebuyer education programs and focus on providing convenient access to banking resources, which is evident in its strategic expansion into the historically underbanked University Circle, where it opened a new branch on May 5.

“At FNB, we believe in the power of partnerships to promote economic growth and reimagine our communities for a stronger future,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B Corporation and First National Bank. “FNB’s partnership with Cuyahoga Land Bank and the new University Circle branch are the latest examples of our long-term investments in initiatives that drive prosperity in the Cleveland region. Our commitment is to participate in economic success for all our neighbors.”

FNB operates nearly 30 branches and 90 ATMs in its Cleveland region.

The Circle East District represents a critical component of revitalization efforts in East Cleveland and surrounding neighborhoods. Located near world-class healthcare, education and cultural institutions, the development was conceived as a bold reimagining of underused land into a thriving, sustainable residential community.

Additionally, individuals employed by Cleveland Clinic, University Hospitals, Case Western Reserve University and other eligible institutions may also qualify for down payment assistance through the Greater Circle Living Program, an initiative designed to help employees live near where they work.

This resource could further reduce out-of-pocket costs for buyers in the Circle East District. Ground broke on the project earlier this year. With the first homes nearing completion, the timing of this partnership ensures that new buyers will have the financial support needed to establish roots in this growing district.

To learn more about homeownership opportunities and financial assistance in the Circle East District, visit circleeastdistrict.org.

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