The Ohio Housing Finance Agency recently approved financing from various programs to support four affordable housing developments in the state.
The projects receiving financing are:
- North View Manor: Co-developers CHN Housing Partners and Medina Metropolitan Housing Authority received approval authorizing the issuance of up to $4.5 million in multifamily housing revenue bonds and was previously approved for a housing development loan and 4% low-income housing tax credits (LIHTCs) with Housing Development Assistance Program (HDAP) funds. The development will rehabilitate 85 units for older Ohioans in Medina;
- Blackstone Commons: Spire Development received approval for a $2.5 million housing development loan, nearly $4 million in HDAP funding, and an allocation of $11.2 million in Ohio LIHTCs. The development will create 99 units for families in Washington Court House;
- Maple Tower: Cincinnati Metropolitan Housing Authority received approval authorizing the issuance of up to $9.6 million in multifamily housing revenue bonds and will receive a 4% LIHTC reservation. The development will rehabilitate 120 units for families in Cincinnati; and
St. Teresa Village: National Church Residences received approval for a $2 million housing development loan and approval authorizing the issuance of up to $3.92 million in multifamily housing revenue bonds. The development will rehabilitate 50 units for older Ohioans in Silverton.