FOR IMMEDIATE RELEASE
Thursday, March 20, 2025
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Board Approves Financing for Seven Housing Developments
COLUMBUS, OH - Yesterday, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support seven housing developments. Developments that received Board approvals for funding are:
Northeast
Cleveland West Veterans Housing: CHN Housing Partners received approval for a $2.5 million Housing Development Loan and $1 million in Housing Development Assistance Program funding. Previously, the development received $1.75 million in 2024 9% Low-Income Housing Tax Credits. It will construct 62 new units for veterans experiencing homelessness in Cleveland (Cuyahoga County).
Emerald Senior PSH: Co-developers, CHN Housing Partners and Emerald Development and Economic Network, Inc. received approval for a $1.75 million Housing Development Loan and $2,153,955 in Housing Development Assistance Program funding. Previously, the development received $1.075 million in 2023 9% Low-Income Housing Tax Credits. It will construct 62 units for chronically homeless older Ohioans and older veterans in Cleveland (Cuyahoga County).
Parkside Homes East: CHN Housing Partners received authorization for up to $12.5 million in Multifamily Housing Bonds. Previously, the development received reservation of $10 million 2024 Ohio Low-Income Housing Tax Credits. It will construct 55 single-family homes located in Cleveland (Cuyahoga County), which residents will be able to purchase after 15 years.
Southeast
Seton Square of Portsmouth: Co-developers, Seton Development, Inc. and Borror Properties Real Estate received approval for a $2 million Housing Development Loan and authorization for up to $11 million in OHFA-issued Multifamily Housing Bonds. This development will construct 57 units for older Ohioans in West Portsmouth (Scioto County).
Southwest
Community & Pendleton Apartments: Co-developers, Preservation of Affordable Housing LLC and Model Property Development, LLC received approval for a $2 million Housing Development Loan and authorization for up to $15 million in OHFA-issued Multifamily Housing Bonds. The development will rehabilitate 61 units in 12 buildings for families in Cincinnati (Hamilton County).
Oskamp Flats: Model Property Development, LLC received approval for a $1.75 million Housing Development Loan. Previously, the development received $1.75 million in 2024 9% Low-Income Housing Tax Credits. The development involves the renovation and adaptive reuse of two buildings with 70 units for older Ohioans in Cincinnati (Hamilton County).
Pebble Brooke: Co-developers, April Housing LLC and McCormack Baron Salazar, Inc. received authorization for up to $49 million in Multifamily Housing Bonds. The development will rehabilitate 260 units for families in Milford (Clermont 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.