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Kentucky Housing Corporation Awards Wallick $1.43 Million in Housing Credits

Recently, the Kentucky Housing Corporation (KHC) awarded Wallick $1.43 million in 9% Low-Income Housing Tax Credits (LIHTC). Of those tax credits:

  • $780,000 will be used to develop Cornerstone Crossing, a soon-to-be 50-unit, new affordable senior community in Elsmere, KY.
  • $650,000 will fund the redevelopment of Liberty Manor, one of Wallick’s multifamily affordable communities in Liberty, KY.

Overall, 41 applications were submitted to the Kentucky Housing Corporation and only 18 of those applications received tax credits. In total, Wallick submitted two applications to the KHC in late 2018—both were awarded housing credits.

Wallick Welcomes Sen. Hornback, State Rep. Rand & Other Officials to KY Grand Reopening

Senator Paul Hornback and State Representative Rick Rand were among several officials to attend the grand reopening celebration for three of Wallick’s affordable apartment communities in Kentucky. Locust Ridge (72 units), Highpoint Senior Apartments (44 units) and Bedford Village (40 units) recently underwent rehabs after Wallick was awarded over $1.1 million in tax credits from the Kentucky Housing Corporation (KHC) in 2016. Overall, the rehabs totaled over $19 million. Each community received the following upgrades:

Unit Improvements

  • Kitchen cabinets, countertops and appliances
  • Bathroom vanities, showers and plumbing fixtures
  • Carpet and resilient flooring
  • Interior/exterior doors
  • Redesigned units for accessibility

Building & Site Improvements

  • New roof systems
  • Security cameras and improved site lighting
  • Landscaping and upgraded community patio
  • Bedford and Locust Ridge- New community building w/ kitchenette, computer lab, laundry facilities and Resident Service coordinator office
  • Bedford and Locust Ridge- Enlarged playground area w/ seating

In addition to Sen. Hornback and State Rep. Rand, those to speak at the ribbon cutting, held at Bedford Village, were:

  • Howard Wallick- Principal, Wallick Communities
  • Andrew M. Condia- Field Representative, on behalf of Senator Mitch McConnell
  • Stacie Rockaway- Field Representative, on behalf of Congressman Thomas Massie
  • Mayor Todd Pollock- City of Bedford, KY
  • Tracy Thurston- Managing Director, Multifamily Programs & Asset Management, KHC
  • Jeff Banker- Vice President, Red Capital Group
  • Sharon Johnson- Multi-Family Housing Program Director, USDA-Rural Development

After the ribbon was cut, guests were welcome to visit and tour Locust Ridge and Highpoint for the remainder of the afternoon. Thank you to Wallick’s Development team and project partners for reinvesting in the Company’s communities and improving the lives of its residents.

Grand Reopening at Cypress Commons after $7 Million Rehab

Wallick Communities has completed a $7 million renovation at Cypress Commons, a 44-unit affordable multifamily housing community in Middletown, OH. A grand reopening celebration was held at the community on October 17.

Renovations at Cypress Commons began in 2017 after the Ohio Housing Finance Agency (OHFA) awarded Wallick close to $500,000 in 9% low-income housing tax credits. In just over a year, the following improvements were made.

Unit Improvements

  • Kitchen cabinets, countertops & appliances
  • Bathroom vanities, showers and plumbing fixtures
  • Energy efficient central HVAC
  • Carpet & resilient flooring
  • Interior & exterior doors
  • Energy efficient lighting fixtures
  • Energy Star vinyl windows
  • Redesigned units for accessibility

Building & Site Improvements

  • Enlarged playground area w/ seating
  • Community building w/ kitchenette, computer lab, laundry facilities, resident services coordinator office
  • Community patio and landscaping
  • Security cameras and improved site lighting
  • Siding, Energy Star exterior doors, entry lighting

On Wednesday, Wallick welcomed community members, project partners, as well as state, local and federal officials to Cypress Commons to see the community’s transformation. Among those in attendance were:

  • Tom Feusse- CEO, Wallick Communities
  • Nan Cahall- SW Ohio District Director, Office of Senator Rob Portman
  • Ben Thaeler- Deputy District Director, Office of Congressman Warren Davidson
  • Larry Mulligan Jr.- Mayor, City of Middletown
  • Diane Alecusan- Business & Project Administration Manager, Ohio Housing Finance Agency
  • Brian Langmeyer- Vice President of Development, Ohio Capital Corporation for Housing
  • Brian Dunlap- CEO/President, RiverHills Bank
  • Julian Littlejohn- Community Manager, Cypress Commons

Once again, hats off to Wallick’s development team for another successful rehab. New kitchen appliances and bathroom fixtures may seem like small improvements, but their efforts have changed the lives of the families and seniors that call Cypress Commons home. Also, thank you to project partners OHFA, OCCH, RiverHills Bank, Sol Design & Consulting, Hooker DeJong, Inc. and Resident Resources Network.

Wallick’s Affordable Housing Communities Receive Makeovers

This summer, Wallick celebrated the grand re-openings of three affordable communities, all achieved under the Low-Income Housing Tax Credit program:

  • Georgetown Senior Apartments – 64 units, Delaware, OH
  • Echo Hill – 40 units, Vanceburg, KY
  • Cutter Apartments – 40 units, Cincinnati, OH

These communities underwent major improvements including brand new kitchens and bathrooms, new windows and roofs, enhancements to their exteriors and interiors and energy savings enhancements.

Additional communities currently being renovated, also under the Low-Income Housing Tax Credit program, include:

  • Cypress Commons – 44 units, Middletown, OH
  • Bedford Village – 40 units, Bedford, KY
  • Locust Ridge – 72 units, Dry Ridge, KY
  • Highpoint – 44 units, Ludlow, KY

These communities are expected to be complete by summer of this year.