Cleveland Area to Receive Funding for New Housing Developments

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Cleveland Area to Receive Funding for New Housing Developments

Last week, the Ohio Housing Finance Agency (OHFA) announced they will be using $53 million in federal stimulus money in order for construction to begin on 13 housing projects for senior citizens and the homeless located in Cleveland and the surrounding area. Two federal programs were created to offer developers within the Cleveland Housing Network (CHN) a way to start their housing projects now, instead of waiting for the unstable economy to improve. Three apartments will be built in the area in the near future; Emerald Alliance V, Independence Place, and Library Court Senior Housing. Emerald Alliance V is an apartment for the homeless. Approximately $5 million will go towards the complex. Apartments for women who are no longer eligible to be part of the foster care system are located at Independence Place in Cleveland. This complex will be located above the YWCA in Cleveland. OHFA awarded the project $1.5 million in stimulus money and $1.2 million through a separate agency. Another housing complex in the Cleveland area is Library Court Senior Housing. This complex for senior citizens was given $5 million through government funding. The mission of the Cleveland Housing Network is to develop affordable housing for low and moderate income individuals while generating pathways out of poverty and homelessness.

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