YOUNGSTOWN, Ohio – The Youngstown Neighborhood Development Corporation announced Tuesday that it will receive $1.5 million in grants from the Federal Home Loan Bank of Pittsburgh’s Affordable Housing Program for affordable housing development.
PNC Bank is the member bank that supported YNDC’s application and is partnering on the projects.
The funds will assist with the construction of three new duplexes in the city along Glenwood Avenue and the renovation of four homes on Pearce Avenue and Lake Drive, a news release states.
The projects are expected to be completed in 2025.
“YNDC is happy to announce this investment that will allow for the creation of another 10 high quality new housing units along the greater Glenwood Avenue corridor as part of our long-term and incremental neighborhood stabilization work,” said Ian Beniston, YNDC executive director.
Beniston thanked partners including Federal Home Loan Bank of Pittsburgh, PNC Bank, Mahoning County Land Bank, the city of Youngstown, Mahoning County, The Raymond John Wean Foundation and Flying High “for their support and partnership in creating this success.”
In November, YNDC was awarded $2.5 million in grants from the Federal Home Loan Bank of Cincinnati’s Affordable Housing Program for home repair, new construction and down payment assistance.
Also last month, YNDC, Mahoning County Land Bank and other partners broke ground on six new houses planned for the city’s Idora neighborhood.