A 42-unit affordable housing community is being built for seniors in the east central Ohio village of Carrollton.
The $12.5 million Hemming Crossing is the latest development by Ohio-based Woda Cooper Cos., which recently broke ground on the development.
“We welcome Hemming Crossing to our community,” said Mark Wells, administrator for the village of Carrollton, in a statement. “Safe, affordable senior housing provides those who reside there the opportunity to be part of our community and take part in all we have to offer.”
Hemming Crossing will feature one- and two-bedroom apartments at affordable rental rates for residents who are 55 and older and who earn 30% to 70% of the area median income.
Apartments in the three-story building will have large living spaces, kitchens with Energy Star appliances, and plenty of storage. Interiors will feature attractive finishes, quality cabinetry, and luxury vinyl tile flooring. Residents will have access to a community room with a kitchenette, a grandchild playroom, and a fitness center. Outdoor amenities will include a patio, picnic tables, grills, and park benches. The property is expected to be LEED certified.
The financing for the project includes low-income housing tax credits (LIHTC) allocated by the Ohio Housing Finance Agency (OHFA), which also provided an equity bridge loan.
“It’s great to see construction starting on Hemming Crossing. When this project is complete it will provide safe, accessible, housing opportunities for older Ohioans in Center Township,” said Penny Martin, director of public affairs with the OHFA.
Marble Cliff Capital (MCC) provided the LIHTC investment financing. “More than 1 out of 5 people in Carroll County, Ohio, is over age 65,” said Jack Kukura, president of MCC. “This figure will continue to grow over the coming years so new affordable housing options for these seniors is absolutely critical.”
Consumer National Bank is a primary lender for the project and a secondary investor through MCC.
PCI Design Group is the architect for Hemming Crossing, with civil engineering by Chadan Engineering and sustainability consulting by Sol Design + Consulting. Woda Construction is the general contractor, and Woda Cooper’s management division, Woda Management & Real Estate, will oversee leasing and property management.