The Lakewoods Apartments

Dayton, Ohio

Millennia Housing Development and Eternal Housing Fund have teamed on a $23.9 million effort to rehab and preserve The Lakewoods in Dayton, Ohio.

The Lakewoods is one of just 12 projects to receive a federal Senior Preservation Rental Assistance Contract (SPRAC), a little-known rental assistance program that aims to prevent the displacement of residents in Sec. 202 properties.

The Lakewoods is home to low-income seniors and non-elderly disabled households. The property was serving households with incomes up to 80% of the area median income (AMI). Following the recent work by Millennia Housing Development, the property is targeting the majority of its units to households with incomes at or below 50% of the AMI.

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