January 2016 Press Release

  • January 2016 Press Release

FOR IMMEDIATE RELEASE

Thursday, January 21 2016
Media Contact:  Molly Moses
Email: mmoses@ohiohome.org
Phone: 614.728.2911


OHFA Board Approves More Than $12.3 Million for Affordable Housing Initiatives for Ohioans

COLUMBUS – On Wednesday, January 20, 2016, the Ohio Housing Finance Agency (OHFA) Board approved more than $12.3 million for affordable housing initiatives across the state of Ohio, including:

  • $10.5 million through the Housing Development Loan (HDL) program. The HDL program provides financial assistance for the development and rehabilitation of affordable housing. HDL funding comes from the Division of Unclaimed Funds at the Ohio Department of Commerce.
  • $550,000 through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF).
  • More than $1.3 million through the Multifamily Lending Program (MLP) to provide funds for affordable rental housing projects that are not readily available in the private market. Funding for the MLP comes from OHFA resources and the Recycled Tax Credit Assistance Program (R-TCAP).

Developments receiving funding include:

Career Gateway Homes, Columbus, Franklin County, for the construction of 58 one, two and three-bedroom family units in four three-story buildings, which will receive Enterprise Green certification upon completion. All units will be affordable to households at or below 60 percent AMGI. Career Gateway Homes received local development priority from the City of Columbus, and includes commercial space that will be used as a training center for residents who will be connected to entry level employment through a unique partnership with Nationwide Children's Hospital.

Developer: NRP Holdings LLC
HDL: $1.5 million

Senior Homes of Findlay, Findlay, Hancock County, for the construction of a senior rental development, consisting of 10 one-bedroom units and 52 two-bedroom units. Four units will be affordable to households at or below 30 percent AMGI, 18 units will be affordable to households at or below 50 percent AMGI and 40 units will be affordable to households at or below 60 percent AMGI. The development will be built on an existing senior campus and serve an underserved rural county.

Developer: NRP Holdings LLC
HDL: $1.5 million

Marlowe Court, Cincinnati, Hamilton County, for the construction of 53 one and two-bedroom units for seniors in a four-story elevator building. Six units will be affordable to households at or below 30 percent AMGI, 18 units will be affordable to households at or below 50 percent AMGI and 29 units will be affordable to households at or below 60 percent AMGI. The development will feature a laundry facility, community room with kitchen, fitness center, dedicated resident storage and clinic space for visits from local practitioners.

Developer: Episcopal Retirement Homes Affordable Living LLC
HDL: $1.5 million

Lawrence Manor Apartments, South Point, Lawrence County, for the rehabilitation of a senior development consisting of 58 one-bedroom units and two two-bedroom units in seven one-story buildings. Three units will be affordable to households at or below 30 percent AMGI, 18 units will be affordable to households at or below 50 percent AMGI and 39 units will be affordable to households at or below 60 percent AMGI. Exterior improvements include vinyl siding, insulated doors, soffits, gutters, roofing repairs of six buildings and replacement of one roof, and downspouts.

Developer: Wallick-Hendy Development Company, LLC
HDL: $1.5 million

Georgetown Senior Apartments, Delaware, Delaware County, for the rehabilitation of 50 one-bedroom units in a two-story elevator building for seniors. Three units will be affordable to households at or below 30 percent AMGI, 17 units will be affordable to households at or below 50 percent AMGI and 30 units will be affordable to households at or below 60 percent AMGI. Exterior improvements include new windows, siding, soffits, gutters, roofing and downspouts. All walkways and driveways will meet current ADA Accessibility Standards.

Developer: Wallick-Hendy Development Company, LLC
HDL: $1.5 million

Devonshire I Apartments, London, Madison County, for the rehabilitation of 52 one and two-bedroom units in ten one-story buildings for seniors. Three units will be affordable to households at or below 30 percent AMGI, 16 units will be affordable to households at or below 50 percent AMGI, and 33 units will be affordable to households at or below 60 percent AMGI. The redevelopment will modernize and replace most of the building's major components – Devonshire Apartments has been well-maintained, but because of the development's age, many of the major components are beyond their useful life.

Developer: Fairfield Homes, Inc.
HDAP: $250,000
HDAP Source: OHTF
HDL: $1,500,000

Marion Towers II, Marion, Marion County, for the rehabilitation of 45 efficiency and one-bedroom units in a six-story elevator building for seniors. Three units will be affordable to households at or below 30 percent AMGI, 13 units will be affordable to households at or below 50 percent AMGI, and 29 units will be affordable to households at or below 60 percent AMGI. The redevelopment will modernize all units and common areas, including new kitchen and bath cabinets and countertops, step-in showers for handicapped accessible baths, energy efficient lighting and energy star appliances.

Developer: Fairfield Homes, Inc.
HDAP: $300,000
HDAP Source: OHTF
HDL: $1.5 million

The Village at Town Center, Tallmadge, Summit County, for the construction of 48 flat-style units in one four-story building. The property will be a mixed use building, with 25 market rate apartments on the top floor and 22,000 square feet of commercial space on the ground floor. Both the residential and commercial spaces will be owned and operated by affiliated entities of Testa Enterprises, using a condominium structure to legally separate each use's ownership and liability.

Developer: Testa Enterprises, Inc.
MLP Loan Amount: $1,315,000


For more information regarding HDL or other affordable housing programs, please contact OHFA at 888-362-6432.


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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the state of Ohio.