Thurgood Marshall Senior Apartments
About the project
This project is a collaboration between four experienced developers: Area Office on Aging of Northwestern Ohio, Inc. (AOA), Lucas Metropolitan Housing Authority (LMHA), NeighborWorks Toledo Region (NTR) and Community Building Partners (CBP). All four partners are nonprofit or municipal organizations working to provide affordable, safe housing to low-income tenants.
AOA, LMHA and NTR are all regional organizations serving Toledo and the surrounding area. CBP is headquartered in Columbus, OH.
LISC provided $500,000 of predevelopment financing to support the adaptive reuse of the vacant Toledo Public Schools building into Thurgood Marshall Senior Apartments. The school will be renovated into 54 units of affordable housing with an additional 32 units constructed in a new building on the former playfields and parking lots. All units will be available to seniors making no more than 60% AMI. Supportive services will be coordinated by AOA, including meals, medical transportation, recreational activities and information on accessing programs such as Medicare, Medicard and social security. This loan was partially funded with LISC's gift from Mackenzie Scott.
Partner:
Area Office on Aging of Northwestern Ohio, Inc., Lucas Metropolitan Housing Authority, NeighborhoodWorks Toledo Region, & Community Building Partners
Location:
Toledo, OH
Total Investment:
$500,000
Results:
86 units
Social Bond Category:
Affordable Housing
Specialized Funding Source:
Mackenzie Scott
Product:
Predevelopment loan
UN SDGs:
