January 10, 2023
NDC CEF is excited to announce the closing of Sidney Village Apartments, located in Sidney Ohio. Sidney Village is an existing family rental project that consists of thirty-four (34) units in six buildings. The property includes one, two, three and four bedroom units and will be rented to family households whose income does not exceed 50% of the area median income. The property renovation will include improvements to site and building design, mechanical and electrical systems and building components including exterior, interior and life safety items. Unit renovations will include new kitchen and bathroom cabinets, kitchen appliances, new flooring in bedrooms and painting all units.
The Ohio Housing Finance Agency has allocated the 9% Low Income Housing Tax credits and is also providing an equity bridge loan. Riverhills is providing the construction and permanent debt. The project is slated to be completed in October 2023.
Sponsor Name: Buckeye Community Hope Foundation
NDC Equity Investment: $4,489,850
Total Development Cost: $5,887,226