Ohio Housing Finance Agency

Projects OK’d for affordable housing loan, credits

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

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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Slavic Village redevelopment plans progress

A Cleveland-New York development partnership is seeking financing for a significant remake of the heart of Cleveland’s Slavic Village at Broadway Avenue and East 55th Street. And an application for Low Income House Tax Credits (LIHTC) is bringing more clarity to the partnership’s redevelopment plans that were first revealed publicly by NEOtrans in May 2023.

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Hough MLK Plaza redevelopment advances

While Northern Real Estate Urban Ventures, LLC (NREUV) is getting ready to break ground this week on its first Cleveland development, it’s already putting together the pieces for its next project here. The redevelopment of MLK Plaza, 9300 Wade Park Ave., in Cleveland’s Hough neighborhood would replace an aging, mixed-use complex with modern, low-income housing over ground-floor programming and common areas.

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Watterson-Lake development awarded financing

Key pieces of financing were awarded this week to a significant development planned on the south side of the intersection of Detroit and Lake avenues in Cleveland’s Detroit-Shoreway neighborhood. There, a 136-unit affordable housing project could see construction start by early next year on the site of the former Watterson-Lake Elementary School, 7407 Detroit Ave.

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Cleveland-area affordable housing wins financing

While only one proposed affordable housing development in Cuyahoga County was awarded the coveted 9 percent Low Income Housing Tax Credits (LIHTC) from the state, four others in the county got conditional approval, putting them in a good position to get financing in the near future. All five developments, if built, would add 247 total units of affordable housing in the county.

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