OHFA Board Approves Financing for Seven Housing Developments

(COLUMBUS, Ohio) Today, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support seven housing developments to create or preserve affordable housing units throughout the state. The developments that received Board approvals for funding are:

CENTRAL

525 Sawyer Blvd: Co-developers Paths Development LLC, S. Cain Development & Construction, and Simco Corporate received approval of an allocation of $10 million in Ohio Low-Income Housing Tax Credits (LIHTCs). The development, which also received 2025 4% LIHTCs, will create 380 new units for families in Columbus (Franklin County).

NORTHEAST

McGregor Landing: Co-developers CHN Housing Partners and the McGregor Foundation received approval authorizing the issuance of up to $17.63 million in Multifamily Revenue Bonds. The development, which also received 4% LIHTCs, Ohio LIHTCs, and a Housing Development Loan, will create 115 new units for older Ohioans in Elyria (Lorain County).

Sandusky Senior Lofts: Co-developers, Pivotal Development LLC and St. Mary Development Corporation, received approval for a $2.5 million Housing Development Loan, $2 million from the Ohio Housing Trust Fund, an allocation of $12.5 million in Ohio LIHTCs, and approval authorizing the issuance of up to $24 million in Multifamily Housing Revenue Bonds. The development, which will also receive 4% LIHTCs, will create 117 units for older Ohioans in Sandusky (Erie County).

Woodhill Center North: The Community Builders, Inc received approval of a $2 million Housing Development Loan. The development, which also will receive 4% LIHTCs, will create 82 new units for families in Cleveland (Cuyahoga County).

NORTHWEST

Mission Point: Co-developers Lucas Housing Services Corp, Lucas Metropolitan Housing Authority, and Cherry Street Mission Ministries received approval for a $2.5 million Housing Development Loan. The development, which also received a 2025 9% LIHTC reservation, will create 65 new units for individuals facing homelessness and individuals with mental illness in Toledo (Lucas County).

SOUTHEAST

Albany Arms Apartments: Buckeye Community Hope Foundation received approval for $1.75 million Housing Development Loan. The development, which also received a 2025 9% LIHTC reservation, will preserve 46 units for families in Albany (Athens County).

SOUTHWEST

Sage Garden Apartments: Co-developers Provident Management, Inc. and PLAT Communities, LLC, received approval for a $2.5 million Housing Development Loan, $4 million from the Ohio Housing Trust Fund, an allocation of $7.425 million in Ohio LIHTCs, and approval authorizing the issuance of up to $8.8 million in Multifamily Housing Revenue Bonds. The development, which also received 4% LIHTCs, will create 55 new units for older Ohioans in Pleasant Township (Brown County).