In Other Developments…

Lighthouse Youth and Family Services opens Sheakley Center for Youth

As Hamilton County groups are working to end youth homelessness by 2020, Lighthouse Youth and Family Services recently increased the region’s capacity with a new, expanded shelter for young adults ages 18 to 24.

The new $20 million Sheakley Center for Youth in Walnut Hills features 36 shelter bedrooms and 39 apartments and a safe, supported environment. Lighthouse reports the new facility is an emergency shelter where homeless young adults learn self-reliance and life skills. Each resident works with a case manager who helps them develop a case plan and implement it with the goal of moving from the center into safe, stable housing within 30 days.

The Sheakley Center was funded in part by $617,000 in annual Low-Income Housing Tax Credit (LIHTC).

Wheatland Crossing Senior Apartments

The Woda Group, Inc recently opened a new $8.6 million 42-unit affordable housing development in the Hilltop area of Columbus, thanks in part to funding from the Ohio Housing Trust Fund.

Wheatland Crossing will serve residents 55 years and older who make less than 60% of the area median income. It features one- and two-bedroom apartments with a multipurpose community room and a wellness room. The City of Columbus contributed a Housing Preservation Bond Grant and Homes on the Hill Community Development Corporation is coordinating supportive services.

The primary source of funding for the project came from LIHTC and Private Activity Bonds, with an additional $1 million in state funding through the Ohio Housing Trust Fund. The Ohio Capital Corporation for Housing (OCCH) invested approximately $4.1 million in equity for the housing tax credits, with Huntington National Bank serving as the secondary investor. Key Bank provided $4.6 million in construction financing and the Affordable Housing Trust of Columbus and Franklin County provided a bridge loan of $2.5 million.

CHN Housing Partners opens Hough Heritage

CHN Housing Partners (formerly Cleveland Housing Network) recently opened a new $11 million affordable housing development in the Hough neighborhood of Cleveland.

Hough Heritage, an $11 million project, was funded in part through Low Income Housing Tax Credits. The facility includes 60 affordable one- and two-bedroom units for seniors, media rooms, a fitness center, outdoor community areas, and on-site social services.

This project is financed by Key Community Development Corporation, the Ohio Housing Finance Agency, the City of Cleveland and Cuyahoga County. CHN Housing Partners will develop, own, and manage Hough Heritage.

2018-02-22T12:52:22+00:00