In 2022, OCCH surpassed $6 billion in equity investments, ensuring that through partnerships, we can provide housing opportunities into future generations and for decades to come.
Affordable Housing Units
OCCH is well capitalized, with a deep understanding of market intelligence, financial strength, and innovative resources that investors trust to deliver results. OCCH has built a legacy that thrives on long-term partnerships, while developing new relationships and expanding investment opportunities, to provide the capital to build, change, and revitalize communities.
Huntington Bank has become one of OCCH’s largest investor, committing more than $1 billion throughout 44 multi-investor and proprietary funds. OCCH recognizes this financial milestone and the economic and social impact that Huntington Bank has had in countless communities throughout our footprint.
“Our purpose at Huntington is to make people’s lives better and strengthen the communities we call home. That’s why we’re incredibly grateful to partner with OCCH to provide affordable housing across Ohio and other states we serve. We strongly believe in OCCH’s mission and look forward to working together to create even more homes for people who need it most,” said Stephen D. Steinour, Chairman, President and CEO of Huntington Bank.
For over 33 years, Huntington Bank and OCCH have achieved the following results through partnership:
Permanent Supportive Housing
Huntington Banks investments have spanned 84 counties in Ohio, 50 Kentucky counties, 16 West Virginia counties, 5 counties in Indiana, 2 counties in Pennsylvania, and 5 counties in Tennessee.
We recognize Huntington Bank for their commitment to affordable housing and thank them for their continued trust and partnership.
OCCH leverages investor’s capital into affordable housing developments – providing stability to vulnerable and underserved populations to build on a future for a better tomorrow. In 2022, OCCH invested $437 million into 44 projects, some of which included rental assistance demonstration for public housing projects, historic preservation developments, permanent supportive housing for veterans and homeless individuals, and new housing for working families. The capital we have deployed through our partners has made a considerable difference to families and individuals throughout our portfolio, continues to revitalize communities, and create healthy neighborhoods that empower residents now and into the future.
Equity Raised in 2022
OCCH’s commitment to investing in affordable housing and working with our partners to structure and execute strong deals and sustainable projects has resulted in more than 55,000 affordable homes in our portfolio. While a considerable amount of our portfolio’s footprint is in our home state of Ohio as well as Kentucky, OCCH is working with our partners to expand much needed affordable housing throughout Ohio, Kentucky, West Virginia, Tennessee, Pennsylvania, and Indiana.
YWCA Hamilton is a 45-unit permanent supportive housing (PSH) development serving chronically homeless individuals in Hamilton, Ohio. The project’s lead developer is Model Group Development, Inc. and the co-developer is YWCA Hamilton.
All 45 LIHTC units are one-bedroom apartments supported by a project-based subsidy via the Butler Metropolitan Housing Authority. Additionally, the development’s program includes a domestic-violence shelter on the building’s first floor, with 15 one-bedroom units, and office space that will be used by the YWCA of Hamilton for its headquarters.
Significant social services are being provided to residents through YWCA Hamilton, including a licensed social worker providing case management to residents and 24-hour staffing at the property for property management and security. The YWCA of Hamilton has signed agreements with eight other local service organizations to provide a wide range of services to residents. These services include referrals for new tenants at vacant units, jobs and life-skills training, health and nutrition resources, mental health counseling, financial literacy, legal services, transportation, and Medicaid enrollment and billing. Each resident will have an individualized service plan that will be reviewed every six months for progress.
YWCA Hamilton is financed using LIHTC equity, funds from the City of Hamilton’s Community Development Block Grant program and Butler County’s HOME program, a grant from the Federal Home Loan Bank of Cincinnati’s Affordable Housing Program, funding from the Ohio Department of Mental Health and Addiction Services, a grant from the Ohio Capital Impact Corporation, and a deferred developer fee.
With the rehabilitation of 42 one-bedroom and 12 two-bedroom units of senior housing in Gallipolis, Ohio, Buckeye Community Hope Foundation (BCHF) preserved critical affordable housing. Their affiliate, RLJ Management, professionally manages the development. Amenities include a community building with onsite management, a community room with kitchen, laundry room, and an exercise room.
First Holzer was financed using an assumed USDA 515 first mortgage a Federal Home Loan Bank Affordable Housing Program grant, and additional grants and donations. A grant from CareSource was used to install high speed Wi-Fi for residents to access the internet both in their units and in common areas of the building, as well as for ongoing monthly payments to maintain Wi-Fi service at the property and will bridge the digital inclusion divide for residents in Appalachia.
BCHF also has referral partners for offsite service coordination, including Gallia County Jobs and Family Services, Gallia County Council on Aging, Area Agency on Aging, District 7, and Gallia-Meigs Community Action Agency.
Park Eden is a housing credit and multifamily bond project in the Walnut Hills neighborhood of Cincinnati. Since 1973, it has served as public housing for those in need of safe, dignified, and affordable housing. Cincinnati Metropolitan Housing Authority (CMHA) transitioned Park Eden from public housing through the Rental Assistance Demonstration (RAD) program. The project now consists of 176-units including six efficiency units, 169 one-bedroom units, and one two-bedroom unit.
The in-unit amenities include an electric range, refrigerator, cable, DirectTV access, and two storage closets. Community amenities include onsite parking, elevator services, laundry facilities, 24-hour maintenance and security, an exercise room, and a community room offering corresponding services for residents.
Park Eden has rental assistance through a project-based Section 8 housing assistance payment contract under the HUD RAD program. The development is financed utilizing LIHTC equity, an FHA 221(d)(4) first mortgage, a seller loan, a GP loan, CMHA HUD Replacement Housing Factor grant, and deferred developer fee.
This development preserves much needed affordable housing in Walnut Hills, an area experiencing an influx of capital and economic development, ensuring that Park Eden will continue to serve as an invaluable resource and community asset.
Marian Manor is a 44-unit community serving seniors and families in Smiths Grove, Kentucky. The project’s lead developer is Wabuck Development Company, Inc., and the co-developer and non-profit partner is Parkland Manor, Inc.
The development consists of seven one-story residential buildings and a community building. There are 20 one-bedroom and 24 two-bedroom units serving households at 50% and 60% of the area median income.
Unit amenities include central air conditioning, dishwashers, project-paid utilities, washer and dryer hook ups, and window coverings. Property amenities include a community building with full kitchen, office, file room, storage room, and a utility/maintenance room. A unique green and energy efficient feature of the development includes a 100,000 KW solar powered electrical generator to provide a portion of the project’s electricity needs. This system enables the project to include utilities within monthly rent and reduce unit rents by $15 per month.
The development was financed utilizing an Affordable Housing Trust Fund provided by Kentucky Housing Corporation, an Affordable Housing Program award from the Federal Home Loan Bank of Cincinnati, deferred developer fee, and tax credit equity.
Residences at Courtyard Crossing include 47-units of new affordable housing for seniors in Kenton, Kentucky. Developed by Spire Development, the unit mix includes 30 one-bedroom apartments and 17 two-bedroom apartments at 50, 60, and 70% of the area median income.
Unit amenities include central air-conditioning, luxury vinyl plank flooring, refrigerator, dishwasher, microwave, washer-dryer hookups, and high-speed internet. Project amenities include a community room, public computers, a common laundry room with washers and dryers, 66-surface parking spaces, and an onsite property manager. Courtyard Crossing is financed using LIHTC equity, a permanent loan from RiverHills Bank, and a small amount of deferred developer’s fee.
Courtyard Crossing is financed using LIHTC equity, a permanent loan from RiverHills Bank, and a small amount of deferred developer’s fee.
Jenkins Street Lofts is the new construction of 60 units in a three-story garden-style residential building located in Columbus, Ohio. The development consists of 15 one-bedroom, 30 two-bedroom, and 15 three-bedroom units, targeting families earning up to 30, 50, 60, and 70% of the area median income.
The lead developer is Woda Cooper Companies, Inc. and the co-developer is Community Development for All People (CD4AP), a faith-based local community housing development organization rooted within Columbus’ Southside neighborhood.
The property dedicates a portion of the units to Section 811, which is focused on expanding the supply of housing for extremely low-income individuals with disabilities while also making available appropriate supports and services under the Ohio Medicaid Plan. A unique feature of the development is that CD4AP will provide extensive supportive services for residents in partnership and collaboration with other community-service-driven organizations. Jenkins Street Lofts also participates in the Partnership for Access on the South Side (PASS), an effort to integrate the rapidly growing services of Healthy Neighborhood Healthy Families. Additionally, the project has a partnership with the South Side Learning and Development Center, an initiative aimed at providing space for satellite early childhood classrooms.
Community amenities include onsite management offices, a health and wellness center, and community rooms. Jenkins Street Lofts is within steps of COTA bus stops, the Berliner Sports Park, and several schools. The project is financed utilizing LIHTC equity, a permanent first loan from FC Bank, City of Columbus HOME funds, deferred developer fee, and GP Capital.
Maple Meadows, developed by Homeport, consists of 56 units of new affordable housing for families in Northeast Columbus. The unit mix includes 17 one-bedroom, 30 two-bedroom, and nine three-bedroom garden style flats in two three-story walk-up buildings. All 56 units are dedicated to households with incomes at or below 30, 50, and 60% of the area median income.
Each unit offers attractive features and amenities, including dishwashers, garbage disposals, washer and dryer hookups, central air conditioning, vinyl plank flooring, and window blinds. Community amenities include a community room with a kitchenette, fitness room, computer lab, 24-hour maintenance, and management suite.
Homeport makes available comprehensive supportive services to residents of Maple Meadows, through referral partnerships. Services include financial and credit counseling, homebuyer counseling and education, a maintenance and home repair program, job training, before and after school care, early childhood education, summer camps, educational assistance, and health, nutrition and wellness programming. The project is financed utilizing LIHTC equity, two notes provided by Illinois Facilities Fund (a Community Development Financial Institution), City of Columbus HOME funds, deferred developer fee, and a GP Capital contribution.