(OCCH Celebrates Milestone $500 Million Investment Partnership with Fifth Third Community Development Corporation at Grand Opening of Parkway Apartments)
March 10, 2016 —In March, Fifth Third Community Development Corporation (CDC) reached the milestone of more than $500 million invested in affordable housing equity with Ohio Capital Corporation for Housing (OCCH) since 1994. The occasion was marked at the grand opening of Parkway Apartments in Cincinnati, a Fifth Third investment.
Parkway Apartments is a 34 unit, multi-family housing adaptive renovation prioritized for military veterans. The homes are located on the third and fourth floor of the four-story building, as the Parkway Center for Transitional Housing, operated by the Talbert House occupies the first two floors. Talbert House is a Cincinnati-based community-wide nonprofit network of services focusing on prevention, assessment and treatment for reintegration.
Parkway Apartments features on-site management, a community room, laundry facilities, and on-site social services. Each home contains energy efficient appliances, window treatments, ceiling fans, central air conditioning, and security systems. Talbert House oversees the service delivery program to the residents.
Parkway Apartments was funded through Low Income Housing Tax Credits and a Housing Development Assistance Program loan administered through the Ohio Housing Finance Agency, a Home Depot Foundation grant, and an AHP grant through the Federal Home Loan Bank of Cincinnati. OCCH provided equity investment through the Fifth Third Fund IV.