Columbus, Ohio (October 2, 2024) Woda Cooper Companies, Inc. hosted a groundbreaking ceremony on Wednesday, October 2, at 11 AM, to celebrate the construction start of the two-phased Juniper Crossing affordable senior housing community on Columbus’ far south side. The event was held at the property site at 60 Obetz Road.
Juniper Crossing I will provide 44 units and Juniper Crossing II will provide 37 units, both targeted for senior residents. Juniper Crossing I will be rented to residents with incomes between 30% and 70% of the area median income. Juniper Crossing II is reserved for residents up to 60% area median income.
“Juniper Crossing will provide new, quality affordable rental homes for senior residents who want maintenance free, age-in-place living in a modern new home,” says Woda Cooper’s Founder Jeffrey J. Woda. “We appreciate the support from the City of Columbus and all the other partners who have made Juniper Crossing I and Juniper Crossing II possible.
“We congratulate the state’s leadership, including Governor Mike DeWine and Lt. Governor Jon Husted, for championing Ohio’s new workforce housing tax credit program which is helping to expand affordable housing in the state,” notes Mr. Woda. “Juniper Crossing II is one of the first developments to be constructed with financing supported by new state housing tax credits.”
Apartments at Juniper Crossing will offer age-in-place features including an elevator, several accessible units for those with mobility challenges or sight or hearing disabilities and pull cords in bathrooms. Apartments have bright, open living spaces, ENERGY STAR appliances, including dishwashers, quality cabinetry, luxury vinyl tile flooring, and window blinds.
There is a multipurpose community room with kitchenette that residents can use for social gatherings, a fitness center, parcel room, laundry facility, lounge room, and activity room. Plus, there is a management office for an onsite manager and maintenance staff. Outdoor community amenities at Juniper Crossing include a picnic area and grill with adequate seating. The property is expected to be certified LEED Silver.
The federal housing tax credits were allocated to both phases by the Ohio Housing Finance Agency (OHFA). In addition, OHFA allocated the new state credits to Juniper Crossing II. OHFA also provided the first mortgage for Juniper Crossing I.
“The Ohio Housing Finance Agency is proud to be a financial partner in both of Juniper Crossing I and II. As we break ground on Juniper Crossing II, we want to recognize that this is a start of a new era for OHFA and its partners. Juniper Crossing II was one of the recipients of the new Ohio Low-Income Housing Tax Credit, which will help create new affordable housing units throughout Ohio over the next four years,” said Shawn Smith, executive director of OHFA. “With this new financial resource and our dedicated developers and partners, we will be able to provide older Ohioans and Ohio families safe, affordable places to call home. Right here, at Juniper Crossing, there will be accessible units for individuals with mobility, sight, and/or hearing challenges and features that will allow residents to age in place. The development will also have a community room, fitness center and activity room that will be places where residents can build new friendships in the community they know and love. That is what we all want, a safe, affordable place to live in a community we love. Congratulations to all the partners involved in the Juniper Crossing development.”
Merchants Capital invested in federal and state tax credits for both phases of Juniper Crossing in exchange for equity financing. Its affiliate Merchants Bank of Indiana is construction lender. “Merchants Capital is proud to partner once again with Woda Cooper Companies to bring 81 new age restricted affordable housing units to the City of Columbus,” said Laurie DiBona, VP Acquisitions. “We are excited to celebrate the ceremonial groundbreaking of both Juniper Crossing I and Juniper Crossing II, financed by both Federal and newly created Ohio State Low Income Housing Tax Credit (LIHTC) programs. Merchants Capital values this opportunity to deepen our partnerships and commitment to affordable housing solutions nationwide.”
A permanent first mortgage was provided to Juniper Crossing II by Cedar Rapids Bank & Trust (CRBT). “Supporting the development of new affordable housing such as Juniper Crossing II is critical in our mission as a lender supporting neighborhoods and communities,” says Timothy J. White, Senior Vice President, Specialty Finance Group. “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, veterans — and when you have pride in where you live, it seems the dysfunction in the world goes down.”
The City of Columbus has targeted the neighborhood location for expanded affordable housing and approved a 15-year tax abatement on 100% of the value for both phases. The city also provided gap financing toward permanent debt, including a HOME loan for soft debt for the first phase and bond funding for the second phase.
“By generously supporting our city’s Affordable Housing Bond, Columbus voters have enabled investment in equitable housing access for all Columbus residents,” notes Columbus Mayor Andrew J. Ginther. “I’m proud that Juniper Crossing I and II will enable 87 Columbus seniors to make the South Side their home.”
Other essential financial partners included the Affordable Housing Trust for Columbus & Franklin County who provided soft funding and equity bridge loans for both phases. The Columbus-Franklin County Finance Authority authorized a sales tax exemption for both phases for goods and materials used in construction.
Jewish Family Services will coordinate onsite supportive services and assist in providing referrals for Juniper Crossing II. Architecture for Juniper Crossing is PCI Design Group, Inc. with civil engineering by American Structure Point. Woda Construction, Inc. is the general contractor. Leasing and property management will be performed by Woda Management & Real Estate. For more information, call 220-262-2882 or visit www.wodagroup.com.
###
About Woda Cooper Companies, Inc.
Woda Cooper Companies, Inc. and its affiliates specialize in the development, design, construction, and management of high-quality affordable multi-family communities, senior communities, and single-family homes. The company was founded in 1990 and now has operations in 17 states and a portfolio of 330 communities and 16,000 units operating or under construction. Green building is standard with certifications including Passive House, Zero Energy Ready Homes, LEED, Enterprise Green, EarthCraft, and ENERGY STAR. Woda Cooper Companies has offices in Savannah, GA; Indianapolis, IN; Shelbyville, KY; Baltimore, MD; Mackinaw City, MI; Columbus, OH; and Norfolk, VA. Affordable Housing Finance magazine ranked Woda Cooper Companies 8th in nation among Developers and 22nd among Owners in 2024.
