June 13, 2018, WASHINGTON – Atz Place Senior Apartments in Kendallville, IN, was awarded the Honorable Mention for
the Rural Category in the prestigious 24th Annual Charles L. Edson Tax Credit Excellence Awards (Edson Awards) today on Capitol Hill.
Each year the Affordable Housing Tax Credit Coalition (AHTCC) recognizes the best of the nation’s affordable housing communities supported through the Low Income Housing Tax Credits (Housing Credit). According to a press release by AHTCC, the named winners are those development strengthening communities, improving health, and boosting the economy in urban, suburban and rural areas nationwide.
“Atz Place Senior Apartments created 38 new affordable rental homes for seniors who earn up to 60 percent of area median income in a location that had a desperate need for affordable age-in-place housing,” said Woda Cooper Companies, Inc’s Managing Director Jeffrey Woda, who accepted the award on behalf of the firm. “Along with attractive and comfortable modern one and two-bedroom apartments, Atz Place offers a rich array of senior activities planned by Woda Cooper’s management team, in conjunction with Housing Services Alliance, Inc. The two story, elevator building is accessible for seniors and energy efficient to contribute to low monthly utility costs.”
Atz Place has a multipurpose community room, a grandchild room, a fitness center, laundry, raised bed gardens, and a gazebo. The new construction site revitalized the abandoned former site of the former Atz Ice Cream Shoppe. Earlier this year, the community earned LEED Platinum certification for its many energy efficient features, including Energy Star appliances.
“We appreciate the support that Atz Place received through the Low Income Housing Tax Credits allocated by the Indiana Housing & Community Development Authority (IHCDA),” said Woda. “Permanent financing came through a HOME loan from IHCDA and R4 Capital invested in the housing tax credits, with Huntington Bank providing a construction loan. Atz Place also benefited through a construction donation through Preferred Building Supply, LLC of Newark, OH.”
According to AHTCC, the Housing Credit was created as part of the Tax Reform Act of 1986, and today is widely regarded as the nation’s most successful housing production tool. AHTCC indicates the program has financed more than 3 million affordable apartments through public‐private partnerships. The program has earned strong bipartisan support, and was recently preserved in the Tax Cuts and Jobs Act of 2017, and expanded and strengthened in the omnibus spending bill for fiscal year 2018. The broadly‐supported Affordable Housing Credit Improvement Act, currently up for debate, would further expand and strengthen the program.
Woda Cooper Companies, Inc. and its affiliates are experienced developers, general contractors, and property managers specializing in the design, construction, and management of affordable multi-family apartments, senior communities, and single-family homes. Considered leading experts in the affordable housing industry, the Woda Cooper team is known for producing and maintaining high quality affordable housing. Affordable Housing Finance ranked the firm 6th overall among Developers and 29nth overall among Owners in its April/May 2018 issue. Woda Cooper Companies, Inc. has developed and currently manages more than 300 communities and 12,000 units, operating in 15 states. In addition to its headquarters in Columbus, Ohio; officers are operated in Annapolis, Maryland; Savannah, Georgia; Shelbyville, Kentucky; Norfolk, Virginia; Indianapolis, Indiana; and Mackinaw City, Michigan.
For more information, call (614) 396-3200 or visit www.wodagroup.com.
Main feature photo credit: AHTCC