Housing Investment Largest in Ohio's History
Huntington Bank will be investing $100 million in Ohio affordable rental housing through 2012, making it the single largest investment in affordable housing in the state’s history. It is expected to create more than 1,300 apartments for up to 3,000 low- to moderate-income households.
The money will help jumpstart the construction and remodeling of additional affordable housing that was stalled during the recession. Huntington will partner with the Ohio Capital Corporation for Housing (OCCH), a nonprofit that raises and invests private capital in affordable rental housing throughout the state. Created in 1989 by the Ohio Finance Agency, OCCH has invested in more than 22,000 homes in Ohio. Huntington and OCCH have partnered on investments for more than 20 years.
The bank has invested more than $200 million in Ohio Capital funds and initiatives during the organization’s entire 21-year history. OCCH is one of the largest locally controlled syndicators of LIHTCs in the country.
The announcement by Huntington and OCCH was made at the Jennings Center for Older Adults, which has 156 units of independent housing for seniors, including affordable and market-rate apartments. Its campus also includes assisted living, long-term nursing home care, and short-term skilled nursing, as well as child and adult day care.