COLUMBUS, Ohio – A Youngstown affordable housing development is among six projects approved for financing recently by the Ohio Housing Finance Agency board.

Wallick Development LLC received approval authorizing the issuance of up to $21.5 million in Multifamily Housing Revenue Bonds for Homestead Crossing. The development, which also received a 4% Low-Income Housing Tax Credit reservation and an Ohio LIHTC allocation, will create 120 new units for families in Youngstown. The amount authorized for the project is the largest approved by the state agency.

Other projects that were approved for financing include:

  • EDEN Expansion Phase III: Emerald Development and Economic Network Inc. received approval for $600,000 in Housing Development Assistance Program funding. The development, which previously received HDAP funding, will create eight new units for families in Cleveland.
  • Olympia Building: Co-developers Olympia Foundation Inc. and Lowenstein Development LLC received approval for $868,000 in HDAP funding. The development, which previously received a HDAP allocation, will create 20 units for families in Cleveland.
  • Park Village Apartments Preservation: The Famicos Foundation received approval of a $1.75 million Housing Development Loan and $1.35 million in HDAP funding. The development, which also received a 9% LIHTC allocation, involves the rehabilitation of 75 units for families in Cleveland.
  • Villa St. Rose of Kirby Manor: National Church Residences received approval of a $2 million HDL and approval authorizing the issuance of up to $13.5 million in Multifamily Housing Revenue Bonds. The development, which also received a 4% LIHTC allocation, involves the rehabilitation of 147 units for older Ohioans in Cleveland.
  • Blackstone Commons: Spire Development Inc. received approval authorizing the issuance of up to $15 million in Multifamily Housing Revenue Bonds. The development, which also received a 4% LIHTC reservation, an Ohio LIHTC allocation and HDAP, will create 99 new units for families in Washington Court House in Fayette County.