Wallick Exits Student Housing Segment

In April, Wallick closed on the sale of its only student housing community – Carriage Hill Apartments. Carriage Hill was built in the late 1960’s in Athens, Ohio and consisted of 367 units. It was built by the Company’s founder, Jack Wallick, shortly after he formed Wallick Construction Co.

Wallick One of the First For-Profits to Join Local Housing Alliance

Wallick was one of the first for-profit affordable housing organizations to become a member of the Affordable Housing Alliance of Central Ohio (AHACO). Wallick’s partnership with AHACO will support its efforts to connect with federal, state, and local officials to find innovative solutions to the shortage of affordable housing in central Ohio.

Additionally, Wallick’s Advocacy Task Force has increased its efforts to advocate for affordable housing policies, programs and funding. In the fall, members participated in two roundtable discussions with the Ohio Gubernatorial candidates and separately took part in discussions and interactions with the candidates and their staff. The purpose of these sessions was to present and discuss an Ohio Housing Platform to the State’s next governor.

The group also successfully worked with U.S. Congressman Troy Balderson of Ohio’s 12th District to gain his support of H.R. 1661 — The Affordable Housing Credit Improvement Act. Congressman Balderson signed on as a co-sponsor of this important legislation in late October. Earlier in the year, Wallick’s Bill Hinga traveled to Capitol Hill to call on the offices of seven Ohio Congressional members for their support of H.R. 1661.

Wallick Ranks 2nd on Cincinnati MHA’s Preferred Developer List

The Cincinnati Metropolitan Housing Authority (Cincinnati MHA) Board approved Wallick Communities as one of six preferred developers that the organization will partner with over the next several years to help reposition the existing public housing stock in its portfolio.

Wallick Associates Give Back

Although 2018 was one of the Company’s busiest years, Wallick’s associates found time to give back to their communities and help those in need.

  • For a second year, almost 50 Wallick associates traded in their office routine for a day at one of Habitat for Humanity’s project sites, building houses for families working toward home ownership.
  • Wallick’s volunteer committee organized a blanket drive for The Ashfords’ residents. A total of 153 blankets were delivered to our seniors, just in time for the winter’s chilly weather.
  • Wallick presented three residents with the Jack Wallick Memorial Scholarship. Each spring, this scholarship awards several Wallick residents up to $2,500 (per school year for up to four years) to help pay the cost of attending college or technical school.

Wallick Strengthens Leadership Team to Meet Growing Demand

Within 2018, Wallick announced several leadership appointments:

  • Stephanie Hess was promoted to Vice President, Senior Living Operations.
  • John Leonard was promoted to Senior Vice President, Development and Construction.
  • Sarah Malone, Senior Vice President, Asset Management joined Wallick in March.
  • Paul Koehler was promoted to Chief Administrative Officer.

The growth of Wallick’s executive team is a result of the Company’s commitment to serve two markets: affordable housing and senior living. As both markets continue to expand, Wallick is prepared to fulfill the nation’s housing needs.

Wallick’s Affordable Housing Communities Receive Makeovers

Wallick celebrated the grand reopening of five affordable housing communities:

  • Cypress Commons- 44 units, Middletown, OH
  • Locust Ridge- 72 units, Dry Ridge, KY
  • Highpoint Senior Apartments- 44 units, Ludlow, KY
  • Bedford Village- 40 units, Bedford, KY
  • Lawrence Manor Apartments- 29 units, South Point, OH

Under the LIHTC program, these communities received major improvements on both the exterior and interior, providing for the sustainability of our affordable housing stock.

Additionally, Wallick was awarded tax credits in 2018 to acquire and rehab six affordable communities this year.

Wallick Adopts a Rigorous “Bottom-up” Approach to Develop Strategic Plan

Through a “bottom-up” approach, Wallick created a strategic plan to lay out the direction for the Company’s future. While Wallick has worked on this in the past, the Company has never done so with such rigor that was used in 2018.

As a result, Wallick developed a well-thought-out plan with broad buy-in. With this strategic plan in place, Wallick is set to take full advantage of incredible opportunities to grow and serve its customers.

63 Individuals Hired at Job Fair Held by Resident Resources Network

A new approach to the traditional job fair led to 63 low-income individuals to find employment. Hosted by Resident Resources Network (RRN), a nonprofit established in 2011 by Wallick Communities, this job fair strayed from more traditional methods by bringing the event to job seekers and the community in which they live.

Wallick’s New Senior Communities Put Residents’ Needs First

At the end of 2018, Wallick saw the completion of two senior living communities:

Additionally, the Company’s five other senior living communities spent the year focused on residents’ needs. This summer, the Ohio Department of Aging conducted a statewide survey to gauge resident’s overall satisfaction at Ohio’s assisted living facilities and nursing homes. Based off responses, The Ashford on Broad received a 92.4 – a score that placed it the highest among all Columbus’ assisted living communities.

In 2019, Wallick will begin construction of two new senior living communities across Ohio.

Wallick Expands Affordable Housing Portfolio

In 2018, the Ohio Housing Finance Agency (OHFA) awarded Wallick Communities funding under the Low-Income Housing Tax Credit Program for the development of Daines Village Apartments, a soon-to-be built affordable family community in London, Ohio, and the redevelopment of several other affordable communities.

Additionally, Wallick acquired nearly 400 affordable apartments, expanding its presence in Kentucky, Wisconsin and Ohio. The following communities are now a part of Wallick’s affordable housing portfolio.

  • Maplewood Commons- 82 units, Fond du Lac, WI
  • Rock View- 20 units, Jefferson, WI
  • Hillview Terrace Apartments- 76 units, Greensburg, KY
  • Logan’s Trace Apartments- 65 units, Stanford, KY
  • Brooksville Court- 48 units, Brooksville, KY
  • Brooksville Green- 16 units, Brooksville, KY
  • McPherson Woods- 50 units, Mansfield, OH

With Wallick’s affordable housing business reaching an overall occupancy of 96% at the end of 2018, the Company looks forward to additional opportunities to expand its portfolio.