NRP Awarded Three Developments

NRP Awarded Three Developments CLEVELAND, OH - Aaron Pechota, Vice President Development, The NRP Group LLC announced its development team has been awarded with Low Income Housing Tax Credits Tax Credit projects by The State of Ohio for three (3) Ohio developments. NRP will develop and manage two (2) affordable senior communities and a single-family lease-to-own housing development.

"I am very proud of the hard work and dedication of our Ohio team," said Pechota. "Similar to the last couple of years we have reached our allowable cap of credits ($3 million) from the state of Ohio, and most significantly, we're providing quality housing that is needed in the communities of Massillon and Columbus."

The three developments are to be completed by 2010 are as follows:

Massillon Senior Apartment Homes: Massillon Senior is an affordable 52-unit, four-story apartment building located in the central business district of Massillon, Ohio. All units provide two bedrooms and one bath, and will serve residents aged 55 and over.

Massillon Senior's site layout and exquisite exterior design will complement the prevailing architectural aesthetic of downtown Massillon, invoking both the City's historic structures and its new construction. Residents will enjoy a landscaped and pergola enclosed seating area and resident gardens with a scenic view of the Ohio Canalway. Residents and visitors alike will be greeted by a welcoming main entrance, which will led into Massillon Senior's lobby, management offices, living room, game room, computer lab and community room. An extensive covered porch will wrap around the building's corner, facing Massillon's downtown. A commercial space will be occupied by the Association For Better Community Development's (ABCD) corporate management offices.

Mayor Francis H. Cicchinelli said, "The Massillon Senior Apartment Homes project will have multiple benefits for our City, providing much needed housing for our senior population, as well as revitalizing our downtown with new residential development. On behalf of the City of Massillon, I congratulate NRP on their project award and welcome the addition of Massillon Senior Apartment Homes to our downtown area."

Franklinton Senior Apartment Homes: Franklinton Senior is a 54 unit, four-story affordable senior apartment building located in the Franklinton neighborhood of Columbus, Ohio. Units provide one or two bedrooms and one bath, and will serve residents aged 55 and over.

Franklinton Senior will complement visually adjacent student housing for the Mt. Carmel College of Nursing, and will segue into the compact, vertical nucleus of Mt. Carmel Hospital's West campus. Residents and visitors alike will be greeted by a protective porte cochere at the main entrance, which will lead into Franklinton Senior's lobby, management offices, party center, and covered porch facing Mt. Carmel. Approximately 4,000 square feet of ground floor space will be devoted to commercial use and resident community space. Residents will enjoy easy access to the Hospital's walkable campus and spectrum of amenities, ranging from health care services, to dining, to senior-oriented events.

Boulevard Homes: Boulevard Homes is a 40 unit, affordable single-family lease-to-own housing development located on scattered infill lots in the Franklinton neighborhood of Columbus, Ohio. Ten units will feature three bedrooms and two bathrooms, averaging 1,250 square feet, and 30 units will feature four bedrooms and two bathrooms, averaging 1,430 square feet.

Boulevard Homes will address the City of Columbus's housing foreclosure epidemic by providing affordable rental houses that tenants will have the option to purchase at the end of their IRC Section 42 compliance period. Boulevard Homes will be participating in the City of Columbus's Neighborhood Stabilization Program, and will divide its efforts between new construction and the rehabilitation of vacant structures. Residents will have access to the City's public transportation system, and the variety of retail, health-related, entertainment, dining and cultural amenities found in the Franklinton community.

The NRP Group is a full-service developer, general contractor, and property manager providing a broad range of services. From start to finish, every project The NRP Group takes on is carefully contemplated and executed to maximize investment return, cost efficiency, productivity and satisfaction. The NRP Group has been recognized as NAHB's 2009 Multifamily Development Firm of the Year and has been ranked number one in the Top 50 Affordable Housing Developers for 2007, 2008 and 2009 by Affordable Housing Finance.
Source: The NRP Group

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