A fund designed to boost real estate investments in Northern Kentucky has landed a sizable federal grant.

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According to a news release, the Catalytic Fund announced Monday that it received a $640,000 financial assistance grant from the US Department of Treasury’s Community Development Financial Institution (CDFI) Fund. The Catalytic Fund is a CDFI-certified organization, which made it eligible for the grant.

Since 2013, the Catalytic Fund’s capital pool has grown from $10 million to its current $22.7 million, according to a release. The fund has provided financing, and in some cases, other development services that have advanced 81 real estate projects in Northern Kentucky, valuing over $400 million in new investment in the region.

The Catalytic Fund’s signature projects include Hotel Covington, Boone Lock Lofts, Bradford Building, Bellevue’s Kent Lofts and Dayton’s Burton’s Building. According to a release, funds and development services were also provided to projects such as the Life Learning Center, the Northern Kentucky Emergency Shelter, and the Samaritan Car Care Clinic.

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