FOR IMMEDIATE RELEASE
Thursday, April 18, 2024
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Board Approves Financing for Ten Developments
Includes two Ohio Low-Income Housing Tax Credit Projects
COLUMBUS, OH - Yesterday, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs for ten housing developments to create or preserve affordable housing units throughout the state. Two of the projects approved received funding from the new Ohio Low-Income Housing Tax Credit Program.
Developments that received Board approval for funding are:
Central
Berwyn East Place: National Church Residences received approval for a $2 million Housing Development Loan, $5 million in Housing Development Assistance Program funding, and authorization to issue up to $13.5 million in Multifamily Housing Revenue bonds. The project will construct 88 new units for older Ohioans, a portion of which are reserved for individuals who are facing homelessness in Columbus (Franklin County).
Emerald Place: LDG Multifamily, LLC received approval for $10 million in Ohio Low-Income Housing Tax Credits and a $2.5 million Housing Development Loan. The project will construct 216 new units for families in Lancaster (Fairfield County).
Juniper Crossing: Woda Cooper Development, Inc. received approval for a $1.75 million Housing Development Loan. The project will construct 44 new units for older Ohioans in Columbus (Franklin County).
Juniper Crossing Phase II: Woda Cooper Development, Inc., received approval of $6,904,070 in Ohio Low-Income Housing Tax Credits. The project will construct 37 new units for older Ohioans in Columbus (Franklin County).
Northeast
The Lafayette: Medina Metropolitan Housing Authority received approval for $1.57 million in Housing Development Assistance Program funding. The project will construct 10 new units of permanent supportive housing for Ohioans facing homelessness in Medina (Medina County).
Chip Townhouses: Paths Development LLC received authorization to issue up to $20 million in Multifamily Housing Revenue bonds for the rehabilitation of 149 units for families in Canton (Stark County).
Skyline Terrace Apartments: Paths Development LLC received authorization to issue up to $50 million in Multifamily Housing Revenue bonds for the rehabilitation of 416 units for families in Canton (Stark County).
Southeast
Overbrook Park Apartments: Wallick Development LLC received approval for a $1.75 million Housing Development Loan. The project will rehabilitate 50 units for families in Chillicothe (Ross County).
Southwest
Alexandra Apartments: National Church Residences received approval for a $2 million Housing Development Loan, $3.525 million in Multifamily Lending Program funding, and authorization to issue up to $15.5 million in Multifamily Housing Revenue Bonds. This project will rehabilitate 83 units for older Ohioans in Cincinnati (Hamilton County).
Cambridge House Apartments II: Co-developers, CountyCorp and Dublin Capital Group received approval for a $2 million Housing Development Loan, $2.35 million in Housing Development Assistance Program funding, and authorization to issue up to $10.5 million in Multifamily Housing Revenue bonds. The project will construct 47 new units for families in Dayton (Montgomery County).
The Board also received an update on the first round of applications for the Single Family Tax Credit Program, which will help develop additional single-family housing across the state. OHFA is reviewing five applications, totaling nearly $10 million in tax credits. The projects will potentially create a total of 205 new single-family units in five counties.
For more information on the programs offered by the Ohio Housing Finance Agency, visit ohiohome.org.
The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit www.ohiohome.org for more information.