WHITEHALL, OHIO — Woda Cooper Cos. Inc. and co-developer IMPACT Community Action have opened The Enclave in Whitehall, six miles east of Columbus. The 102-unit affordable housing community is located at 3540 E. Main St. The $29.9 million development is reserved for renters who earn between 30 and 80 percent of the area median income. Rents range from $435 to $1,240 per month, depending on income restriction and size of unit.
The City of Whitehall approved a Payment in Lieu of Taxes related to the real estate taxes for 15 years on 100 percent of the residential improvements. The development also received significant support from Franklin County. The Board of Commissioners approved a permanent mortgage loan through its Magnet Fund program. The project also benefits from a $25 million linked deposit fund created by the Franklin County Treasurer Brooks Sullivan.
The four-story building features a large mural created by Ohio-based muralists Lucie Shearer and Thom Glick. Units at The Enclave offer one-, two- and three-bedroom layouts. Several units are adapted for those with mobility challenges and/or sight and hearing disabilities. Amenities include a community room with kitchenette and management office. The development is certified LEED Gold.
The project also features a dedicated space for assisting residents with supportive services, such as case management, workforce development and employment training, emergency assistance, financial literacy and more coordinated by IMPACT.
Ohio Housing Finance Agency (OHFA) provided financial support through the allocation of 4 percent Low-Income Housing Tax Credits and soft funds through its Bond Gap Financing Program. OHFA also issued a tax-exempt bond to support construction financing, along with an equity bridge loan. Alliant Capital invested in the tax credits to provide equity financing.
Other financing support came from CF Bank, which provided the first permanent mortgage and construction loan. The Affordable Housing Trust for Columbus & franklin County provided a permanent loan and equity bridge loan. The development also benefitted from Brownfield Redevelopment Funds via the Ohio Department of Development and a sales tax exemption via the Columbus-Franklin County Finance Authority.
New Avenue Architects & Engineers provided architecture and structural engineering, American Structurepoint was the civil engineer and Sol Design + Consulting served as sustainability consultant. Woda Construction Inc. was the general contractor and Woda Management & Real Estate will oversee leasing and property management.