East Akron Neighborhood Development

In 1982, the story of the East Akron Neighborhood Development Corporation, or EANDC, began not with a venture capital round, but with a dream and a borrowed twenty-five dollars. Co-founders Grady Appleton and Cazzell Smith saw the need to rebuild their community in Akron, Ohio, and established EANDC to provide safe, affordable housing. Their initial ambition was to tackle neighborhood decline head-on, an ambition that would soon be embraced by residents and local government alike. The playbook was straightforward: improve communities by providing quality housing and homeownership services. This started with acquiring, managing, and developing properties. Over the decades, EANDC grew its portfolio to include over 600 housing units and more than 100,000 square feet of commercial space. A pivotal moment came in 2018 with a leadership transition. After 35 years, founding CEO Grady Appleton retired, and Cheryl Stephens took the helm. This marked a strategic shift for the organization. The new leadership aimed to move EANDC toward a more self-sustaining, revenue-generating model, expanding its real estate development arm to ensure its long-term stability and impact. A significant recent project includes the I PROMISE Housing development, a partnership with the LeBron James Family Foundation, demonstrating the organization's continued evolution and its central role in Akron's revitalization.