COLUMBUS, Ohio — The Woda Group has started construction of Wheatland Crossing Senior Apartments, a 42-unit affordable seniors housing community in the Hilltop submarket of Columbus.
The three-story building will offer a mix of one- and two-bedroom options. Development costs are estimated at $8.6 million.
Partners on the project include the City of Columbus, the Ohio Housing Finance Agency (OHFA) and Homes on the Hill Community Development Corp., among others. The Ohio Capital Corp. for Housing is investing $4.1 million in equity in exchange for OHFA tax credits.
Other funding sources include $4.6 million in construction financing from KeyBank, $3.6 million in loans from OHFA, a $2.5 million bridge loan from Affordable Housing Trust of Columbus and Franklin County and $500,000 in funding from the City of Columbus.
Wheatland Crossing is scheduled for completion in late 2017.
The Woda Group and its affiliates are developers, general contractors and property managers specializing in the design, construction and management of affordable housing. The company’s headquarters is in Westerville, Ohio.