September 6, 2019…Woda Cooper Companies, Inc. announces today its two newest properties in Ohio earned LEED certifications. Fairwood Commons in Columbus was rated LEED Platinum, the US Green Building Council’s highest level in its LEED for Homes program. Audubon Crossing in Dayton earned the second highest rating possible with LEED Gold.
Fairwood Commons, opened late last year at 1774 East Main Street, Columbus, is an $11.6 million affordable senior housing community with onsite supportive services provided by nonprofit collaborator East Columbus Development Company, Inc. and also LifeCare Alliance. Fairwood Commons is the first multifamily property in Ohio to be designed using the Passive House method for super energy efficiency.
The three-story building with vintage charm to match the urban neighborhood offers 54-units with one- and two-bedroom, spacious apartments and features modern, attractive finishes; open concept living spaces; universal design with several fully accessible units; ENERGY STAR appliances, including dishwashers; washer/dryer hookups; and other age-in-place features. Lifestyle amenities include a central laundry facility, fitness center, gazebo, dog park, and more.
Low Income Housing Tax Credits (LIHTC) were allocated to Fairwood Commons from the Ohio Housing Finance Agency (OHFA). Ohio Capital Corporation for Housing provided an equity investment in exchange for the credits. In addition, the development was supported through a City of Columbus 15-year tax abatement granted for 100% of the increase in the project’s value, along with a $250,000 HOME loan. The development also received a bridge loan from the Affordable Housing Trust for Columbus and Franklin County and Huntington National Bank provided the construction loan. Apartments are available to residents age 55 or older who earn up to 60% of area median income.
Audubon Crossing, 119 Edgewood Ave, Dayton, was developed by Woda Cooper in partnership with Greater Dayton Premier Management (GDPM). The new $10 million development, also opened in late 2018, is a 50-unit senior community affordable for residents who earn up to 60% of area median income. The three-story, L-shaped building offers one- and two-bedroom, spacious apartments and features modern, attractive finishes; open concept living spaces; ENERGY STAR appliances, including dishwashers; and washer/dryer hookups. Lifestyle amenities include a community room with kitchen, fitness center, central laundry facility, and large gazebo. Senior Services Connection and GDPM’s FSS program coordinate supportive services such as in-home meal delivery, transportation, social activities, and connections to area senior services.
Audubon Crossing was made possible with the Ohio Housing Finance Agency’s allocation of LIHTC and a provision of permanent and additional loans. The City of Dayton contributed a HOME Loan and GDPM also contributed Replacement Housing Funds. CREA, LLC was the equity investor and Key Bank provided the construction loan.
Sol Consulting + Design served as sustainability advisor for both developments. Woda Cooper affiliate PCI Design Group, Inc. was architect and Woda Construction, Inc. was general contractor.
Joseph McCabe, Woda Cooper’s Vice President of Development, who led both developments, said there will be significant ongoing utility costs savings at each facility based on the superior green building practices used as demonstrated by the LEED certifications. “Lower utility bills will allow senior residents to retain more monthly income for food, medical needs, services, leisure, rent, and other daily living expenses,” McCabe said.
About Woda Cooper Companies, Inc.
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 13th overall among Developers and 26th overall among Owners in its April/May 2019 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 Columbus headquarters, the firm has offices in Savannah, Georgia; Indianapolis, Indiana; Shelbyville, Kentucky; Annapolis, Maryland; Mackinaw City, Michigan; Charlotte, North Carolina; and Norfolk, Virginia.
For more information, visit wodagroup.com or call 614-396-3200.