FOR IMMEDIATE RELEASE
Friday, May 20, 2022
Media Contact: Penny Martin
More Than $31 million in Housing Tax Credits Awarded to Build or Preserve Affordable Housing Across Ohio
COLUMBUS, OH - The Ohio Housing Finance Agency (OHFA) announced the recipients of the 2022 Housing Tax Credit program awards.
This year, 31 Ohio developments creating or preserving 1,554 apartments for families, seniors and individuals at risk for homelessness were awarded more than $31.9 million in 10-year federal housing tax credits.
"Housing, especially affordable housing, is needed to support our state's growing economy. As jobs are created across Ohio, we want to ensure that Ohio families have an affordable place to call home. The investments we announced today will create new housing opportunities in communities across Ohio," said Executive Director Shawn Smith.
The full list of awardees (listed in alphabetical order) is as follows:
- Amesbury Rosalind Apartments (Cuyahoga County)
- Bainbridge Manor Apartments (Ross County)
- Bexley Apartments (Franklin County)
- Blanchard House (Hancock County)
- Broadway Commons (Lorain County)
- Canal Crossing (Licking County)
- Dunlap PSH (Hamilton County)
- Elevate 340 (Franklin County)
- Fieldstone Cottages (Franklin County)
- Franciscan Annex (Cuyahoga County)
- Garrett Square Senior Apartments (Cuyahoga County)
- Germantown Crossing (Montgomery County)
- Gordon Crossing (Cuyahoga County)
- Greentree Village Apartments (Clermont County)
- Harvest Crossing Senior Villas (Jackson County)
- Hemming Crossing (Carroll County)
- Henrietta Homes (Cuyahoga County)
- The Landings at Delta Crossing (Lucas County)
- Liberty Senior Lofts (Trumbull County)
- Margaret Wagner Senior Apartments (Cuyahoga County)
- Park Hotel Redevelopment (Lucas County)
- Pedretti Place (Hamilton County)
- Poplar Fen Place (Franklin County)
- Preston Pointe (Franklin County)
- The Reserve at Mount Gilead (Morrow County)
- Secor Senior Lofts II (Lucas County)
- Sidney Village Apartments (Shelby County)
- Vandalia Point (Hamilton County)
- Vassar Village (Stark County)
- Victory Vistas (Hamilton County)
- Walnut Woods (Stark County)
Every region of Ohio is represented among the awardees, including eight projects in rural communities that will create 337 affordable housing units. There will be 227 units created or preserved in the Appalachian region. Developments include 13 for families, 14 for seniors and four providing supportive services.
OHFA reviewed 76 applications requesting more than $78.8 million in credits. Recipients were selected based on the policies and goals of the program, including affordability, geography, accessible design, supportive services, leveraged economic investment and proximity to amenities.
Developers and their investment partners claim tax credits over a 10-year period to offset the costs associated with construction or rehabilitation of a housing development. In exchange for the credits, owners must maintain rents that are affordable, and limit occupancy to residents with low-to-moderate-incomes for a minimum of 30 years.
OHFA has administered the Housing Tax Credit program to facilitate the creation and preservation of more than 150,000 units in the state since 1987.