(Plain Press June 2024) On May 20^th the online publication NEOtrans News reported that the Ohio Housing Finance Agency awarded 9% Low-Income Housing Tax Credits (LIHTC) from the State of Ohio to Emerald Development and Economic Network Inc. (EDEN Inc.) for phase three EDEN’s Inc”s affordable townhomes and apartments across the street from EDEN Inc,’s headquarters at 7812 Madison Avenue. According to the article titled Cleveland-area affordable housing wins financing by NEOtrans reporter Ken Prendergast, LIHTC subsidizes up to 70% of the cost of construction for an eligible project.

     Prendergast reported that the development will have four townhouses with separate entrances and four apartments with a single entrance. The article says the total cost of the project is estimated at $1.2 million.

     In the article EDEN Inc. Executive Director Elaine Gimmel says demolition is slated for the fall of this year and new construction is expected to begin in spring of 2025.

     According to EDEN Inc.’s website “EDNE’s mission is to provide housing solutions to people facing the challenges of housing insecurities and homelessness.”

     NEOtrans also mentions several other projects on the West Side that potentially will receive LIHTC in the future. Prendergast reports they have received conditional approval from the Ohio Housing Finance Agency. The proposed projects are: a 52-unit $20.28 million Cleveland West Veterans Housing development by CHN Housing Partners at 3311 W. 73^rd – just north of Denison Avenue; and a $15.9 million Walton Senior Apartments project by Volker Development Inc. and Marous Brothers Construction of Willoughby at a site believed to be at 3517 Walton. From Prendergast’s description of the proposal, the building may stretch from Clark Avenue next to the Rally’s restaurant to Walton.

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