Low Income Housing Tax Credits

Hough senior housing tests first new zoning in 96 years

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Cleveland City Planning Commission today approved designs for a 55-unit affordable senior housing development in Cleveland’s Hough neighborhood. While that isn’t such a big story anymore, given the heightened pace of investment in this former poster child enclave of urban decay, it is when you consider the plans for this project were submitted to the city only in May.

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Cleveland’s new hot spot: BVQ District. Here’s why…

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There’s an underutilized 50-acre area on Cleveland’s near-West Side dubbed the BVQ District. It is surrounded by Ohio City, Tremont and the La Villa Hispana section of Clark-Fulton. All of those neighborhoods have seen, and continue to see a lot of investment. BVQ has been walled off from that activity by Interstate 90 and the Red Line tracks. But like water overtopping a dam, soon that dam is going to break.

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McCafferty site redevelopment in Ohio City revealed

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Six weeks ago, city officials announced that they had picked Pennrose, LLC and its proposal to build senior affordable apartments on the current site of the Thomas F. McCafferty Health Center, 4242 Lorain Ave. in Cleveland’s Ohio City neighborhood. Now, with a Pennrose-led development team submitting to the state its application for Low Income Housing Tax Credits (LIHTC) for the project, the public can see the developer’s proposed plan.

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Projects OK’d for affordable housing loan, credits

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In Cleveland, one east-side housing development and one west-side development are set to receive 4-percent Low Income Housing Tax Credits (LIHTC) from the Ohio Housing Finance Agency (OHFA). The agency announced that determination yesterday in a spreadsheet posted on its Web site. A third project won a $1.75 million OHFA loan, OHFA said in a written statement released today.

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Two apartment buildings in Hub 27’s first phase

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A revised plan is moving forward to fill in more of the development gap along West 25th Street between Cleveland’s booming Ohio City neighborhood to the north and the growing La Villa Hispana community to the south. In between is where the latest development, Hub 27, is poised to rise and join other existing, underway and planned developments at the north end of the Clark-Fulton neighborhood.

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