FOR IMMEDIATE RELEASE
Thursday, May 22, 2025
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Board Approves Financing for 16 Housing Developments and Announces the 2025 9% Low-Income Housing Tax Credit Reservations
COLUMBUS, OH - Yesterday, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support 16 housing developments to create or preserve affordable housing units throughout the state. The Board also announced the 23 housing developments that received commitments for the 2025 9% Low-Income Housing Tax Credits (LIHTC).
The 16 developments that received Board approvals for funding are:
Central
Easton Place Phase III: Co-Developers Columbus Housing Partnership, Inc. and Georgetown Midwest, LLC received approval for a $2.5 million Housing Development Loan and $6.089 million in Ohio LIHTC funding. The development will create 50 units for families in Columbus (Franklin County).
Hamilton Place: Columbus Housing Partnership, Inc. dba Homeport received approval for a $1.75 million Housing Development Loan. This development previously received a reservation of 9% LIHTC in May 2024. This development will create 60 units for families in Columbus (Franklin County).
Harding Heights Apartments: Wallick Development, LLC received approval for a $2.5 million Housing Development Loan, $5.4 million in Ohio LIHTC, and $3.8 million from the Ohio Housing Trust Fund. The development will create 50 units for older Ohioans in Marion (Marion County).
Knoll View Place: Community Housing Network, Inc. received approval of $5.5 million in HOME-ARP funding. The development previously received approval for a $2.5 million Housing Development Loan in January 2025 and a reservation of 9% LIHTC in May 2024. The development will create 50 units for individuals meeting the qualifications of the HOME-ARP program in Columbus (Franklin County).
Reserve at Maryland Avenue: Connect Realty, LLC received approval of a $2 million Housing Development Loan and authorization for up to $16 million in OHFA-issued Multifamily Housing Bonds. The development will create 84 units for families in Columbus (Franklin County).
Scioto Rise Place: Community Housing Network, Inc. received approval of $5.5 million in HOME-ARP funding. The development previously received approval for a $2.5 million Housing Development Loan in January 2025 and a reservation of 9% LIHTC in May 2024. The development will create 60 units for individuals meeting the qualifications of the HOME-ARP program in Columbus (Franklin County).
Northeast
The Heights: Co-Developers DFP Development, LLC and IRGRA Development, LLC received approval for a $2.5 million Housing Development Loan and $9.9 million in Ohio LIHTC. The development will create 160 units for families in Akron (Summit County).
Gateway66: Co-Developers Woda Cooper Development, Inc. and Frontline Development Group, LLC received approval for a $2 million Housing Development Loan. The development will create 80 units for families in Cleveland (Cuyahoga County).
Silver Birch of Bedford Heights: Vermillion Ohio AAL Developer LLC received approval to authorize up to $30 million in OHFA-issued Multifamily Housing Bonds. This development will create 120 units for older Ohioans in Bedford Heights (Cuyahoga County).
Northwest
Arrowhead Lofts: St. Mary Development Corporation received approval for a $1.75 million Housing Development Loan. This development previously received a reservation of 9% LIHTC in May 2024. This development will create 58 units for families in Maumee (Lucas County).
Southeast
Booth Pointe Apartments: Co-Developers Provident Management Inc. and Plat Communities LLC received approval for a $2.5 million Housing Development Loan, $8.7 million in Ohio LIHTC, and $4 million from the Ohio Housing Trust Fund. The development will create 46 units for older Ohioans in Steubenville (Jefferson County).
Cornerstone at Eclipse Run: Fairfield Homes, Inc. received approval for a $2.5 million Housing Development Loan, $9.5 million in Ohio LIHTC, and $2.7 million from the Ohio Housing Trust Fund. The development will create 58 units for families in The Plains (Athens County).
The Lofts on First: Co-Developers Woda Cooper Development, Inc and Hocking Athens Perry Community Action received approval for a $2.5 million Housing Development Loan, $9.4 million in Ohio LIHTC, and $4 million from the Ohio Housing Trust Fund. The development will create 51 units for older Ohioans in The Plains (Athens County).
Southwest
Belmar Hill of Mt. Washington: Sieber Construction, Inc. received approval for a $2.5 million Housing Development Loan and $5.2 million in Ohio LIHTC. The development will create 54 units for older Ohioans in Cincinnati (Hamilton County).
Kinsey Lofts: Co-Developers Kingsley Consulting, LLC dba Kingsley + Co and Serving Older Adults through Changing Times received approval for a $2.5 million Housing Development Loan and $5.5 million in 2025 Ohio LIHTC. The development will create 52 units for older Ohioans in Cincinnati (Hamilton County).
Senior Village at Valle Greene: Co-Developers, St. Mary Development Corporation and Oberer Residential Construction, Ltd. received approval for a $1.75 million Housing Development Loan and $1.4 million in Housing Development Assistance Program funding. This development previously received a reservation of 9% LIHTC in May 2024. The development will create 70 units for older Ohioans in Fairborn (Greene County).
The Board also announced the projects receiving conditional qualification letters for the 2025 9% Low-Income Housing Tax Credits (LIHTC) program. The LIHTC program provides tax credits to developers to assist in the creation or rehabilitation of rental housing for low- to moderate-income Ohioans.
This year, 23 developments creating or preserving 1,436 units for families, seniors, and supportive housing were awarded reservations of more than $35.4 million in annual 9% federal LIHTCs.
Of the developments receiving tax credit reservations, 52% will create or preserve housing for Ohio families, 35% will create or preserve housing for older Ohioans, 13% will create supportive housing for Ohioans. Further, four of the developments are in Appalachian counties and four of the developments are in counties that have not received a LIHTC award in the past five years (Fayette, Lawrence, Williams, Wood).
OHFA reviewed 61 applications requesting more than $94.1 million in credits. Recipients were selected based on the policies and goals of the program, including affordability, financial feasibility, geography, neighborhood opportunity, building amenities, and proximity to local amenities.
Applicants receiving conditional commitments are (listed in alphabetical order):
- Albany Arms Apartments (Athens) – USDA Subsidy Preservation Set Aside
- All In Dublin (Franklin)
- Avanelle Crossing (Athens) – Appalachian County Set Aside
- Chesapeake Landing (Lawrence) – Community Impact Strategic Initiative Set Aside
- Deer Hill Place (Franklin)
- Fountain Creek Senior Villas (Williams) – Community Impact Strategic Initiative Set Aside
- Harding Station (Marion)
- Lorain Avenue Redevelopment (Cuyahoga)
- Mission Point (Lucas) – Balance of State/Small CoC Set Aside
- Oberlin Place (Lorain)
- Opportunity Pointe I (Franklin)
- Opportunity Pointe II (Franklin) – Refugee Settlement Agency Partnership
- Paint Creek Crossing (Fayette) – Transformative Economic Development Set Aside
- Park Village Apartments Preservation (Cuyahoga) – CHDO Sponsor Set Aside
- Perrysburg Senior Lofts (Wood)
- Pleasant House (Hamilton)
- Pleasant Meadows Village (Summit)
- Stoneridge Court (Franklin)
- The Meadows (Clermont) – Appalachian County Set Aside
- Vine and Polk (Hamilton) – CHDO Sponsor Set Aside
- Wade Park Station (Cuyahoga)
- Waterville Senior Lofts (Lucas)
- Wesley Baymiller (Hamilton)
Developers and their investment partners claim tax credits over a 10-year period to offset the costs associated with construction or rehabilitation of an affordable 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. 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.