FOR IMMEDIATE RELEASE
Wednesday, October 16, 2024
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Board Approves Financing for Eight Housing Developments
COLUMBUS, OH - Today, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support eight housing developments. Developments that received Board approvals for funding are:
Central
Channing Street Redevelopment: Columbus Housing Partnership, Inc., dba Homeport received approval for a $1.75 million Housing Development Loan. The development will include the new construction of a 24-unit apartment building with community space, construction of 20 new townhomes, and lots for eight future single-family homes for families in Delaware (Delaware County).
Emerald Place: LDG Multifamily LLC received authorization for up to $40 million in OHFA-issued Multifamily Housing Bonds. The development previously 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).
Fairview I & II: Related Affordable, LLC received authorization for up to $16 million in OHFA-issued Multifamily Housing Bonds. The development also will receive $1,204,998 million in non-competitive 4% Low-Income Housing Tax Credits annually for 10 years. The development will rehabilitate 124 units for families in Marion (Marion County).
Haven's Edge: Havens Edge Developer, LLC received authorization for up to $56.5 million in OHFA-issued Multifamily Housing Bonds. The development also will receive $4,421,655 in non-competitive 4% Low-Income Housing Tax Credits annually for 10 years. The development will create 246 new units in 10 buildings for families in Columbus (Franklin County).
Wyandot Square: Related Affordable, LLC received authorization for up to $6 million in OHFA-issued Multifamily Housing Bonds. The development also will receive $444,255 in non-competitive 4% Low-Income Housing Tax Credits annually for 10 years. The development will rehabilitate 62 units for families in Galion (Crawford County).
Northeast
Norwalk North: Related Affordable, LLC received authorization for up to $8.75 million in Multifamily Housing Bonds. The development also will receive $456,567 in non-competitive 4% Low-Income Housing Tax Credits annually for 10 years. The development will rehabilitate 72 units for families in Norwalk (Huron County).
Southwest
Beechwood: Cincinnati Metropolitan Housing Authority received approval for $3 million in Housing Development Assistance Program funding as well as authorization for up to $25 million in OHFA-issued Multifamily Housing Bonds. The development also will receive $2,144,559 in non-competitive 4% Low-Income Housing Tax Credits annually for 10 years. The development will rehabilitate 149 units for families in Cincinnati (Hamilton County).
Franklin Commons: SP AHG Development LLC received authorization for up to $17 million in OHFA-issued Multifamily Housing Bonds. The development also will receive $874,787 in non-competitive 4% Low-Income Housing Tax Credits annually for 10 years. The development will rehabilitate 114 units for families in Franklin (Warren 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.