Fostoria Townhomes

(Rehabilitated Family Housing in Seneca County)

October 3, 2016 —Wallick-Hendy Development Company LLC has renovated Fostoria Townhomes in Fostoria, Ohio, a 40-unit Section 8 property now operating as an LIHTC project.  The complex includes seven residential buildings comprised of townhomes and garden style homes.

Fostoria Townhomes offers on-site management, laundry facilities, clubhouse, a community room with kitchenette, computer center, fitness center, playground, basketball court, picnic area with grill, community porch, community garden, social services and a service coordinator.

Units include new appliances, window treatments, washer/dryer hookups, carpeting, air-conditioning, ceiling fans, patios, dishwashers, and exterior storage shed.

Fostoria Townhomes was developed using a combination of Low Income Housing Tax Credits and a flex bridge loan administered through the Ohio Housing Finance Agency (OHFA). Other funding sources include an assumed mortgage through the U.S. Department of Housing and Urban Development, First Merit Bank and the Ohio Capital Finance Corporation, an affiliate of OCCH, which provided a predevelopment loan.  Equity investment was provided by Ohio Capital Corporation for Housing.

 

 

 

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