Affordable housing is needed for the hundreds of thousands of existing and new residents expected in the Columbus Region over the next decade. Housing is needed for a growing population already here — seniors. A new project will serve that need, and is the first to use Ohio’s new Low-Income Housing Tax Credit.
Finance Authority President Patty Huddle attended the recent groundbreaking of Juniper Crossing at 60 Obetz Road on the city’s south side. Columbus-based Woda Construction is building the project, which will provide 81 units for rent to residents 55 years and older. Phase 1 of the project will offer 44 units to seniors with incomes between 30% and 70% of area median income. A second phase will rent 37 units to those with up to 60% of area median income. The project is expected to be completed by early 2026.
Juniper Crossing is going up next door to the Central Ohio Area Agency on Aging. COAAA Administrator Katie White remarked that having affordable senior housing so close to their services “is a dream come true.”
“The Finance Authority is thrilled to join a number of financing and tax credit programs to make this project a reality,” says Huddle. “Seniors need these units, and it can be difficult to develop projects like this. Juniper Crossing shows it’s possible.”
Other contributors to the project’s capital stack include Cedar Rapids Bank and Trust, Merchants Capital, Merchant’s Bank of Indiana, Affordable Housing Trust for Columbus and Franklin County, Ohio’s Low-Income Housing Tax Credit, and the Federal Low-Income Housing Tax Credit allocated by the Ohio Housing Finance Agency and the City of Columbus.
“This is a perfect example of city, county, state, and federal partners contributing to solve a challenging but important community need,” adds Huddle. “Credit is due to Franklin County and the City of Columbus for their foresight when forming the Finance Authority decades ago.” Finance Authority participation may bring cost-savings opportunities to the project that makes the capital stack a little more achievable – vitally important in the current economic environment.
At the groundbreaking, a number of partners offered inspiring remarks. “I think a property like Juniper Crossing should be called dignity housing because everyone needs a home – whether you are talking about single families, seniors, or veterans,” said Timothy White, Senior VP of Cedar Rapids’ Specialty Finance Group.
“We congratulate the state’s leadership for championing Ohio’s new workforce housing tax credit program, which is helping to expand affordable housing in the state,” said Woda Cooper founder Jeffrey Woda. “Juniper Crossing [Phase] II is one of the first developments to be constructed with financing supported by new state housing tax credits.”
According to Woda Cooper, the apartments will offer age-in-place features and accessible options for those with mobility challenges or sight or hearing disabilities. The units will have bright, open living spaces, ENERGY STAR appliances, quality cabinetry, and vinyl tile flooring. Residents will enjoy a multipurpose community room with kitchenette, a fitness center, laundry facility, lounge room, and activity room. Outdoor community amenities will include a picnic area and grill. The property is expected to be certified LEED Silver.
“This tax credit allows us to create housing where we otherwise wouldn’t be able to,” said Jonathan McKay, Woda Cooper’s vice president of development, to Business First. “Whether you’re a market-rate developer or an affordable housing developer, the costs are what they are for lumber, windows, roofing, and more. In the market rate world, you can raise the rents to make up for the cost. But we can’t do that. This tax credit helps close that gap.”
Woda Cooper’s management affiliate Woda Management & Real Estate will handle leasing and manage the property. Support services for residents will be provided by Jewish Family Services.