Woda Cooper Receives LIHTC Financing for Five New Affordable Housing Communities

by Kristin Harlow

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. Inc. has received Low-Income Housing Tax Credit (LIHTC) financing for the development of five new affordable housing communities in North Carolina, Michigan, Iowa, Virginia and Illinois.

The North Carolina Housing Finance Agency allocated $1.2 million for Pender Crossing, a 48-unit community to be built in Wilson, N.C. Plans call for three walkup buildings with amenities such as a fitness center, computer room, playground and covered pavilion. Raleigh-based TightLines Designs is the architect.

In Marquette, Mich., Woda Cooper will partner with the Keweenaw Bay Indian Community to develop Black Rock Crossing, a 50-unit general occupancy multifamily development. The Michigan State Housing Development Authority allocated $1.4 million in tax credits for the project. Grand Rapids-based PCI Design Group is the architect. Construction is expected to begin in April.

The Iowa Finance Authority awarded $1.1 million in LIHTC financing for Alley Landing, a 40-unit project in Des Moines. The community will include eight Permanent Supportive Housing homes for veteran households experiencing homelessness. Hooker DeJong is the architect.

Virginia Housing allocated $1.4 million in tax credits for Bains Pointe, a 50-unit development in Portsmouth, Va., named after Eliza Bains who was instrumental in helping slaves gain freedom via the Underground Railroad in Portsmouth. Designed by PCI Design Group, the project will serve residents who earn 30 to 80 percent of the area median income (AMI). Construction is scheduled to begin in mid-2024.

The Illinois Housing Development Authority allocated $1.5 million in LIHTC financing for Parker Glen II, a 56-unit development for general occupancy in Champaign, Ill. The project will expand on a 64-unit family development at the same location that is now under construction. Both communities, designed by Hooker DeJong, will serve residents who earn between 30 and 80 percent of AMI. Housing Services Alliance is the co-developer.

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