OHFA Board Approves More Than $35 Million to Support Affordable Housing

OHFA Board Approves More Than $35 Million to Support Affordable Housing

COLUMBUS – February 2, 2015 – (RealEstateRama) — On Wednesday, January 21, the Ohio Housing Finance Agency (OHFA) Board approved more than $35 million for affordable housing initiatives across the state of Ohio, including:

•$1.425 million through its Capital Improvement Program (CIP) fund, which is designed to provide funding for minor renovations and maintenance on aging properties funded by the Ohio Department of Mental Health and Addition Services (ODMHAS). Funding for the program comes from the Ohio Housing Trust Fund (OHTF).
•$1.4 million through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments across the state. Funding for HDAP comes from the Ohio Housing Trust Fund (OHTF).
•Nearly $29.4 million through the Housing Development Loan (HDL) program. The HDL provides financial assistance for the development and rehabilitation of affordable housing through unclaimed funds from the Ohio Department of Commerce.

The Board also approved the issuance of more than $220,800 in Housing Development Gap Financing (HDGF). These dollars are funded by the OHTF, and are earmarked for new construction or rehabilitation of rental units. Finally, the Board approved $3 million in Multifamily Revenue Bonds. The bonds provide low-cost debt financing for the acquisition, construction, and rehabilitation of affordable housing communities.

Housing developments approved for CIP, HGDF, HDAP, HDL and multifamily bonds funding include:

Columbus Avenue, Bellefontaine, Logan County, for the rehabilitation of two multi-story buildings that house individuals who suffer from mental illness. The scope of work includes: sidewalk repair or replacement, brick tuck-pointing, wood deck, window sills, damaged siding, and gutter and downspout replacement. The crawl space will be sealed and insulated. Unit modifications will include bath and kitchen updates, replacement of entry and interior doors, flooring, window coverings, water heater, appliances and light fixtures, and central air conditioning installation.

CIP: $300,000
Developer: Residential Administrators, Inc.

Corsica, Cleveland, Cuyahoga County, for the rehabilitation of a two-story building with a basement and eight one-bedroom units. The scope of work for this building includes electrical upgrades, replacement of the HVAC system, basement windows, building entrance doors and exterior lighting, and repair and paint of the exterior stairs. Interior flooring, lighting and unit entry doors will be replaced, and walls will be repaired and painted. In each unit, kitchen and bathroom will be updated, and flooring, light fixtures and window coverings will be replaced.

CIP: $300,000
Developer: Emerald Development and Economic Network, Inc.

East Oxford, Canton, Stark County, for the rehabilitation of one two-story building with two one-bedroom units. The scope of work for this project includes: roof, window, siding, gutter, downspout, and entry door replacement. Kitchens and baths will be updated completely with new cabinets, countertops, fixtures, appliances and flooring. Central air-conditioning will be installed and electric will be upgraded.

CIP: $75,000
Developer: ICAN, Inc.

Elmcrest Apartments, Elyria, Lorain County, for the renovation of one building containing 13 units of housing for individuals who suffer from severe and persistent mental illness. The scope of work includes complete removal and replacement of the following: roof, exterior doors and windows, gutters, downspouts, AC units, smoke detectors, electrical breakers, flooring, electric baseboard heating, and plumbing fixtures. Also, rain barrels will be installed in order to reuse rain water.

CIP: $375,000
Developer: Sunset Development

2014 CIP – Phase 3 Building Modernization, Toledo, Lucas County, for the rehabilitation of three two-story buildings with a total of 40 units that are designated for individuals and families who were homeless and/or are diagnosed with a mental illness. The scope of work for each building is similar and includes concrete and asphalt repair or replacement, building tuck-pointing, porch repairs, roof, gutters and downspout replacement, weatherization including insulation, windows and exterior doors, complete kitchen and bathroom updating, heating and air conditioning replacement, and electrical upgrades.

CIP: $375,000
Developer: Neighborhood Properties, Inc.

Blueline Supportive Permanent Housing, Athens, Athens County, for the rehabilitation of one townhouse and one single story building containing a total of six two-bedroom units for households with severe and persistent mental illness. The scope of work includes: providing public and wheelchair accessibility, repairing or replacing doors and windows, restoring and replacing interior finishes, new HVAC systems, new electrical circuits and features.

HDGF: $220,847
Developer: Hocking Athens Perry Community Action Agency

Apple Hill Apartments, Jackson, Jackson County, for the rehabilitation of 40 garden and townhouse-style units in eight two-story buildings. Scope of work includes the repair and replacement of roofing, doors, windows, walls, siding, landscaping, parking and driveways, adding a new community space with a kitchenette, computer space, fitness room and library, the replacement of plumbing, fixtures, and flooring and the addition of accessibility and visitability features. Units will receive new kitchens, baths, flooring, interior doors, Energy Star appliances, and Energy Star heating and air conditioning.

HDAP $350,000
HDL: $2,000,000
Developer: Provident Management, Inc.

The Commons at Madaline Park II, Akron, Summit County, for the second phase of a development that will include a total of 120 units of Permanent Supportive Housing (PSH). The building will incorporate sustainable design, building products and principles with ample parking, green space, and activity space. The building will include a community room, case management offices, laundry room, and a kitchen. All units will be fully accessible and will incorporate the principles of universal design.

HDAP: $350,000
HDL: $3,000,000
Developer: Testa Enterprises

Fayette Landing, Washington Court House, Union Township, Fayette County, for the rehabilitation of an existing PSH project consisting of 18 units. Eighteen units will be added to the community within two miles of the original development in place of a vacant nursing home. The majority of the vacant nursing home will be demolished and the balance will be renovated into 18 units, community and program space. When complete, the community will include 36 PSH units. Project amenities include new kitchens with energy star rated appliances, new bathrooms with no-slip tiles and high-speed internet with wifi. There will be dedicated space for case management within the nursing home redevelopment.

HDAP: $350,000
HDL: $1,857,324
Developer: The Woda Group, Inc.

Valley View Place, Falls Township, Muskingum County, for the construction of eight one-story cottage buildings for senior citizens. Transportation services for the project will be administered by South East Area Transit and home-based care services will be provided by Area Agency on Aging Region 9, Inc. The property will include a community building with a kitchenette and fitness room.

HDAP: $350,000
HDL: $2,000,000
Developer: Buckeye Community Hope Foundation

Greensburgh Manor, Green, Summit County, for the new construction of a three-story, 50-unit apartment building for seniors. Greensburgh Manor is part of a multi-phased planned development located in a high-income census tract adjacent to health services where senior housing is in short supply. The project will be part of a mixed-use, mixed-income development plan that includes retail, office, a medical campus and market-rate multifamily apartments, offering diverse housing options for any age or income level. The project features one and two bedroom units with balconies or patios, hard surface flooring and energy star rated appliances.

HDL: $3,500,000
Developer: The Woda Group, Inc.

Ivywood Apartments, Columbus, Franklin County, for the rehabilitation of 13 two-story residential buildings and a community building. Exterior improvements include the repair and replacement of roofing, doors, and windows, replacement of concrete walks and patios and repaving of asphalt parking areas. Interior improvements include the replacement of most major building components and mechanical systems, and the addition of accessibility and visitability features. The units will receive new appliances, flooring, cabinets, countertops and bath fixtures. Security features will also be incorporated.

HDL: $3,500,000
Developer: Renewal Housing Associated, LLC

Logan Terrace, Logan, Hocking County, for the rehabilitation of eight, two-story buildings for families. Exterior improvements include new windows, doors, siding, gutters, and downspouts. The interiors will receive updated HVAC, new plumbing fixtures, kitchen appliances, counters, cabinets, floor coverings, and doors. Further accessibility and universal design elements will be integrated along with upgraded community facilities and storage for the residents.

HDL: $3,500,000
Developer: Buckeye Community Hope Foundation

Riverlodge II Apartments, Columbus, Franklin County, for the rehabilitation of 147 garden-style units in three three-story buildings. Exterior improvements include the repair and replacement of doors, walls and windows and a new parking lot. Interior improvements will include the replacement of plumbing, fixtures, and flooring and the addition of accessibility and visitability features. The units will receive new kitchen cabinets, countertops and appliances, and new bathroom tubs, toilets and vanities.

HDL: $3,500,000
Developer: Arbor Shoreline, Inc.

Sands Senior Apartments, Cincinnati, Hamilton County, for the adaptive reuse of 65 flat-style units in one four-story building. Once complete, each unit will include new appliances, central AC, in-unit washer/dryers, and an intercom/security system. The property will include on-site management, controlled access/surveillance cameras, a community room, a fitness room, and a playground.

HDL: $3,500,000
Developer: TWG Development, LLC

Tubman Towers, Springfield, Clark County, for the rehabilitation of 99 garden-style units in a four-story building. Exterior improvements will include the repair and replacement of doors, walls and windows and a new parking lot with additional handicapped parking. Interior improvements will include the replacement of most major building components and mechanical systems, upgrading of all life/safety features, the addition of accessibility and visitability features, and the addition of a new elevator. Units will receive Energy Star lighting, new flooring, cabinets, countertops and low-flow plumbing fixtures. Thirty two efficiency units will be converted into one-bedroom units and a one story community room addition will be added to the property.

HDL: $3,000,000
Developer: Lutheran Social Services of Central Ohio

Colonial Village Apartments, Cincinnati, Hamilton County, for the renovation of ten two-story townhouse-style apartment buildings that were constructed in the 1950s. Planned renovations include replacement of the exterior entrance doors, roof and furnace, installation of GFCI outlets, and the addition of accessible parking.

Multifamily Bond: Up to $3,000,000
Developer: BSR Trust, LLC

For more information regarding affordable housing programs, please contact OHFA at 888-362-6432.

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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the state of Ohio. OHFA is also the administrator of the state’s foreclosure prevention program, Save the Dream Ohio.

Media Contact: Arlyne Alston
Email:
Phone: 614.387.2863

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