Neighborhood Development Services

What Neighborhood Development Services does

Neighborhood Development Services, Inc. (NDS) is a private 501(c)(3) nonprofit community development corporation founded in August 1985 as the Ravenna Development Corporation and headquartered at 120 E. Main St., Ravenna, Ohio. The organization operates as a full-service nonprofit developer, general contractor, property manager, and service provider, executing affordable housing development, housing rehabilitation, community and economic development, and small business lending across ten or more counties in Northeast Ohio plus portions of West Virginia and Michigan. NDS owns and manages 25 affordable housing projects comprising 1,072 units, operates two commercial movie theaters (Lake 8 Movies in Barberton and Ravenna 7 Movies, which opened in August 2018 as Ravenna's first theater in over 50 years), and runs the Kavé Coffee Bar as part of its downtown revitalization portfolio. Supporting service lines include housing rehabilitation, homebuyer education through a partnership with eHome America, and free VITA tax preparation for low-income households through the IRS program.

NDS monetizes through a hybrid nonprofit model: federal, state, and local grant funding (NeighborWorks America flexible grants, USDA Housing Preservation grants, HUD CDBG and HOME funds administered through community partnerships); rental income from owned affordable housing; revolving loan fund interest and fees from economic development lending (where NDS can independently provide up to 45% of project financing and up to 90% with primary lender partners including Huntington, Key, US Bank, and Chemical Bank); and professional services revenue from acting as developer and general contractor (via GB Hawk Construction). Primary beneficiaries are low- and moderate-income households; the organization also serves city and county government clients, small businesses seeking financing, and individual homebuyers and renters. Sub-brands include GB Hawk Construction (internal construction arm), Wilds at Harvest Rose (45-unit senior housing development), Kavé Coffee Bar, and the two movie theater properties.

The organization is governed by an Executive Director (Stacy Brown), Deputy Director (Mike Bogo), and CFO (Kaitlyn McNerney), with a Board of Directors chaired by Jeff Mills (US Bank Community Development Director). NDS holds four key certifications that constitute its regulatory moat: an exemplary-rated NeighborWorks America charter, NeighborWorks Green Organization certification, Community Development Financial Institution (CDFI) designation, and Community Housing Development Organization (CHDO) certification. The organization is not publicly traded and has no parent company; revenue is not publicly disclosed. Reported operational outcomes include 1,300+ jobs created through business financing assistance and seven houses developed with HOME funds in partnership with Summit County.

Name

Neighborhood Development Services

Legal name

Neighborhood Development Services, Inc.

Website

https://ndsohio.org

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Neighborhood Development Services is a nonprofit community development organization that develops and manages affordable housing, provides economic development lending, and delivers community revitalization services across Northeast Ohio, Michigan, and West Virginia, operating a portfolio of 25 housing projects with 1,072 units.

Ownership category

akta.pro rank

Product category

Affordable Housing & Community Development

NAICS

Services to Buildings and Dwellings (5617), Services for the Elderly and Persons with Disabilities (62412)

SIC

General Bldg Contractors - Residential Bldgs (1520), Services-Social Services (8300)

akta.pro primary industry

Residential General Contracting (New Build) (IMAFAAAB)

akta.pro secondary industry

Rural, Tribal & Special-Population Housing Programs (FSALAKAL)

Keywords

• Affordable housing development
• Community development services
• Economic development lending
• Housing rehabilitation programs
• Nonprofit property management

Headquarters

HQ city

Ravenna

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Others

Revenue model

1. Grant Funding: NDS receives flexible grants from NeighborWorks America to support affordable housing and community development activities. The organization also receives USDA Housing Preservation grants, CDBG and HOME funds administered through community partnerships.
2. Financing and Lending Services: NDS provides loans for new or existing businesses through economic development lending programs. NDS can independently provide up to 45% of financing needs for projects, and up to 90% in partnership with primary lenders. Revenue is generated through loan administration and interest.
3. Property Management: NDS owns and manages 25 affordable housing projects with 1,072 units throughout Ohio, Michigan, and West Virginia. Revenue is generated through property management activities and rental operations.
4. Construction and Development Services: NDS acts as a developer and general contractor for housing development projects, including new construction and rehabilitation of residential and commercial properties.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

NDS is a full-service nonprofit community development organization that develops, owns, and manages affordable rental housing; rehabilitates existing homes for low- and moderate-income households; administers economic development and small-business lending; and delivers community revitalization, homebuyer education, and free VITA tax preparation services. As a chartered NeighborWorks America member and certified CDFI and CHDO, NDS leverages federal, state, and philanthropic funding (CDBG, HOME, USDA, NeighborWorks grants) to operate 25 affordable housing projects totaling 1,072 units across Ohio, Michigan, and West Virginia.

Product overview

NDS is a full-service nonprofit community development organization providing affordable housing development, property management, community revitalization, and economic development services across Northeast Ohio. The organization operates as a unified service portfolio including housing development (owning 25 projects with 1,072 units), housing rehabilitation, community development, economic development lending, property management, home buyer education, and VITA tax preparation services. NDS also operates commercial properties including Ravenna 7 Movies and Lake 8 Movies theaters. All services are delivered through partnerships with government agencies, financial institutions, and community organizations rather than a traditional software product platform.

Differentiator

Problem solved

Functional benefit

Brands

• Kavé Coffee Bar: Coffee bar operated by NDS located at 600 W. Tuscarawas Ave. in Barberton district.
• Ravenna 7 Movies
• Lake 8 Movies
• GB Hawk Construction
• Wilds at Harvest Rose

Products and services

• Housing Development Development and construction of affordable housing; NDS acts as developer, general contractor, and long-term property manager, owning 25 affordable housing projects with 1,072 units across Ohio, Michigan, and West Virginia.
• Community/Commercial Development Downtown revitalization, economic development, financing and job creation, revolving loan fund administration, project administration, and grant implementation services for municipal and county government clients.
• Housing Rehabilitation Rehabilitation and repair services for existing housing, utilizing CDBG, HOME funds, USDA Housing Preservation grants, and Summit County's Lead Hazard Abatement Program; targeted at low- and moderate-income homeowners.
• Economic Development Lending Business lending for job creation and retention, providing up to 45% of financing independently and up to 90% in partnership with primary lenders such as Huntington, US Bank, Key Bank, and Chemical Bank.
• Neighborhood Property Management Property management for affordable housing units including compliance monitoring, district management, and resident services across NDS's portfolio.
• Home Buyer Education Education program administered through eHome America to prepare prospective homebuyers for homeownership, including financial literacy and mortgage guidance.
• VITA Tax Preparation Free tax preparation services for low-income households through the IRS Volunteer Income Tax Assistance (VITA) program.
• Ravenna 7 Movies First-run movie theater in downtown Ravenna at 215 W. Cedar Ave., featuring seven auditoriums with 80-240 seats each, power reclining seats, and stadium seating.
• Lake 8 Movies First-run movie theater in downtown Barberton's art and entertainment district, drawing approximately 100,000 visitors annually.
• Kavé Coffee Bar Coffee bar operation in Barberton, Ohio as part of NDS's art and entertainment district development, with a rooftop patio.

Quantifiable outcome

• Over 1,300 jobs created through business assistance
• +4 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered major, core and minor.

• Portage Development BoardmajorStrategic or Co-development Partner · 1 May 2018Hosted annual Locate. Stay. Grow. event celebrating economic development in Portage County. Presented Locate award to NDS Director of Lending Jim Shank with proclamation from Governor Kasich.
• Ravenna Area Chamber of CommercemajorStrategic or Co-development Partner · 31 January 2017NDS donated $20,000 to support chamber infrastructure needs and evening economy initiatives in downtown Ravenna. Chamber Director Ryann Kuchenbecker expressed gratitude for the significant support.
• NeighborWorks AmericacoreStrategic or Co-development PartnerNational nonprofit created by Congress in 1978 providing financial support, technical assistance, and training for community-based revitalization. NDS is an exemplary rated chartered member with access to nearly 240 other NeighborWorks organizations. Provides flexible grants supporting affordable housing and community development activities.
• HUDcoreStrategic or Co-development PartnerU.S. Department of Housing and Urban Development. Key federal partner for housing and community development programs.
• USDA Rural DevelopmentcoreStrategic or Co-development PartnerFederal agency providing housing, community facilities, and economic development programs. NDS is a frequent recipient of USDA Housing Preservation grants and uses USDA funding sources for job creation programs.
• Ohio Capital Corporation for HousingmajorStrategic or Co-development PartnerStatewide housing development partner providing financing and development expertise for affordable housing projects.
• Ohio Housing Finance AgencymajorStrategic or Co-development PartnerState agency providing financing and programs for affordable housing development in Ohio.
• City of RavennacoreStrategic or Co-development PartnerOriginal founding partner for NDS (originally Ravenna Development Corporation in 1985). Over 30 years of partnership on city revitalization challenges. NDS developed Ravenna 7 Movies at 215 W. Cedar Ave.
• City of BarbertoncoreStrategic or Co-development PartnerNDS assists with Community Development Block Grant program administration and downtown redevelopment. Mayor William Judge expressed appreciation for the partnership during exciting period of redevelopment.
• Portage CountycoreStrategic or Co-development PartnerCounty partner for community development programs and economic development initiatives.
• Summit CountycoreStrategic or Co-development PartnerNDS utilizes Summit County HOME funds and works with Department of Community and Economic Development on housing projects. County Executive Ilene Shapiro and staff supported Twinsburg Township projects.
• Lake 8 MoviesminorOthersNDS purchased the Lake 8 Movies building in Barberton after city foreclosure in 2014. NDS covered $250,000 for digital conversion and building renovation. Theater now thrives as first-run movie venue.
• Ohio Development Services AgencymajorStrategic or Co-development PartnerState of Ohio agency providing development services and funding for community and economic development projects.
• Summit Art SpaceminorStrategic or Co-development PartnerPartner in Barberton art and entertainment district development alongside Lake 8 Movies.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Regional players

• Cleveland Neighborhood Progress: Cleveland Neighborhood Progress is a Cleveland-based community development intermediary that supports neighborhood revitalization through lending, real estate development, and capacity building. It is comparable to NDS as a regional Ohio nonprofit focused on community and economic development.
• Homeport: Homeport is a Columbus, Ohio-based nonprofit affordable housing developer, owner, and service provider operating in Central Ohio. It is a regional peer to NDS, offering an overlapping mix of housing development, homeownership services, and neighborhood revitalization in Ohio.
• Coalition on Homelessness and Housing in Ohio (COHHIO): COHHIO is a statewide Ohio housing advocacy and capacity-building organization supporting affordable housing and homelessness services. It is comparable to NDS in its Ohio focus on housing policy and community-based services, though it functions more as an intermediary/advocate than a developer.

Broad incumbents

• Local Initiatives Support Corporation (LISC): LISC is a national CDFI that finances affordable housing, economic development, and community revitalization through local partners. Comparable to NDS as a CDFI focused on community development financing and capacity building, but operating at national scale across hundreds of local offices.
• Enterprise Community Partners: Enterprise Community Partners is a national nonprofit that invests in affordable housing, community development financial institutions, and community revitalization — comparable to NDS's mission and CDFI activities but at much larger scale and with broader geographic reach.
• Habitat for Humanity International: Habitat for Humanity is the largest nonprofit affordable housing organization in the U.S., building and rehabilitating homes for low-income households. It is a broad incumbent comparable to NDS's affordable housing development and housing rehabilitation activities but at vastly greater scale and global footprint.

Direct peers

• Woda Cooper Companies: Woda Cooper Companies is a national affordable housing developer, general contractor, and property manager specializing in Low-Income Housing Tax Credit (LIHTC) developments. Comparable to NDS for combining development, construction, and property management of affordable housing, though operating at significantly larger scale across multiple states.
• The Community Builders: The Community Builders is a nonprofit affordable housing developer and property manager that develops, owns, and operates mixed-income rental housing across multiple U.S. states — directly comparable to NDS in combining development, ownership, and property management of affordable housing.
• Ohio Capital Corporation for Housing: Ohio Capital Corporation for Housing is a statewide nonprofit affordable housing developer and lender in Ohio, providing financing and development expertise for affordable rental housing. It is a direct strategic partner of NDS and a directly comparable peer in Ohio affordable housing finance.
• NeighborWorks Capital: NeighborWorks Capital is a CDFI that provides capital to NeighborWorks organizations for affordable housing and community development — directly comparable to NDS as a fellow NeighborWorks-affiliated entity with a CDFI mission supporting affordable housing lending.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/NeighborhoodDevelopmentServices
• Xx.com/NDSOhio85
• LinkedInlinkedin.com/company/neighorhood-development-services-inc-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neighborhood Development Services