FOR IMMEDIATE RELEASE
Wednesday, August 21, 2024
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Board Approves Financing for 12 Housing Developments
COLUMBUS, OH - Today, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support 12 housing developments. Developments that received Board approvals for funding are:
Central
Granville Woods Lofts: Woda Cooper Development, Inc., received authorization for up to $12 million in OHFA-issued Multifamily Housing Bonds. Previously, the development received a $2 million Housing Development Loan and $8,339,480 reservation of Ohio Low-Income Housing Tax Credits. The project will construct 58 new units for families in Columbus (Franklin County).
Granville Woods Lofts II: Woda Cooper Development, Inc., and Gertrude Wood Community Foundation received authorization for up to $11.2 million in OHFA-issued Multifamily Housing Bonds. Previously, the development received a $2 million Housing Development Loan and $3,194,508 of Housing Development Assistance Program funding. The development will create 60 new units for families in Columbus (Franklin County).
Sells Greene: Co-developers Woda Cooper Development, Inc., and Parallel Housing, Inc., received authorization for up to $8.1 million in OHFA-issued Multifamily Housing Bonds. Previously, the development received a $2.5 million Housing Development Loan and $4.5 million in Housing Development Assistance Program funding. The project will construct 40 new units for families in Lancaster (Fairfield County).
Northeast
Foster Senior Lofts: Co-developers Pivotal Development LLC and Elyria Community Partnership received approval for a $2 million Housing Development Loan and $4.5 million Housing Development Assistance Program funds. The development will create 46 new units for older Ohioans in Elyria (Lorian County).
Newton Family Apartments: Co-developers, Woda Cooper Development, Inc., and Canton for All People, Inc., received authorization for up to $10.5 million in OHFA-issued Multifamily Housing Bonds. The development previously received a $2 million Housing Development Loan and $9,872,080 reservation of Ohio Low-Income Housing Tax Credits. This project will construct 52 new units for families in Canton (Stark County).
Olympia Building: Co-developers Olympia Foundation and Lowenstein Development, LLC, received approval of $1.45 million in Housing Development Assistance Program funds. The funding will support the rehabilitation of 20 units for Ohioans in Lakewood (Cuyahoga County).
Puritas Senior Apartments: Co-developers Volker Development Inc., and Barton Affordable Housing, Inc., received approval for a $1.75 million Housing Development Loan. The development will create 48 new units for older Ohioans in Cleveland (Cuyahoga County).
Wintergreen Ledges: Co-developers Tober Development Company, LLC, and Michigan Apartments, LLC received approval for an additional $150,000 in Housing Development Assistance Program funds. Previously, the development received a $3 million Housing Development Loan and $2.4 million of Housing Development Assistance Program funds. The development will create 120 new units for families in Akron (Summit County).
Southeast
PC Plumly Townhomes: Co-developers Provident Management, Inc., and PLAT Communities, LLC., received authorization for up to $4.1 million in OHFA-issued Multifamily Housing Bonds. Previously, the project received a $2 million Housing Development Loan and $3 million in Housing Development Assistance Program funds. The development will rehabilitate 31 units for families in Barnesville (Belmont County).
PC St. Clairsville Courtyard: Co-developers Provident Management, Inc., and PLAT Communities, LLC received approval for a $1 million Housing Development Loan, $3,064,038 in Housing Development Assistance Program funds, and authorization for up to $3.8 million in OHFA-issued Multifamily Housing Bonds. The development will rehabilitate 24 units for families in St. Clairsville (Belmont County).
Southwest
Forest Park I: Co-developers Standard Enterprises, Inc., and Adirondack Community Development LLC received authorization for up to $12 million in OHFA-issued Multifamily Housing Bonds. The development previously received $3.9 million in Housing Development Assistance Program funds. The development will create 52 new units for families in Dayton (Montgomery County).
Lincoln & Gilbert Family II: Pennrose, LLC, received authorization for up to $7 million in OHFA-issued Multifamily Housing Bonds. The development previously received a $2 million Housing Development Loan and $3,736,600 in Ohio Low-Income Housing Tax Credits. The project will construct 36 new units for families in Cincinnati (Hamilton County).
For more information on 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.