Tag Archive for: Wallick

Wallick Closes on Fenner Ridge Apartments

In mid-2020, Wallick received Low Income Housing Tax Credits from the Ohio Housing Finance Agency (OHFA) to finance Fenner Ridge Apartments located in Hillsboro, OH.

In December, Fenner Ridge reached another milestone: its closing. Initial work at the site has begun, and construction will continue through December 2022.

Fenner Ridge is a new affordable property for families in Highland County. The community will include 56 units in three walk-up buildings and offer one-, two- and three-bedroom apartments.

Wallick Closes on Meadow Valley

Last Thursday marked Wallick’s closing of Meadow Valley, a soon-to-be constructed senior living community in Traverse City, Michigan.

This is the first phase of the Traverse City project, which includes the construction of a Senior Living Facility that will contain 104 Licensed Beds (60 assisted living beds, 44 memory care beds) and 50 Independent Living Units. Phase 1 will also include 20 Independent Living cottages that Wallick anticipates to close on in early 2022.

Conceptual planning for Meadow Valley began in December 2018 and construction began in October 2021.  The scheduled completion date is April 2024.

Thank you to Wallick’s Development team, Wallick Construction, and all of our partners who are helping bring this community to life.

Wallick Senior Living Commemorates Veterans Day

Yesterday was the yearly holiday honoring America’s veterans for their patriotism and willingness to sacrifice and serve. Several senior living communities at Wallick celebrated this day and their own veterans.

The Ashford on Broad invited their veterans for a time full of dessert, champagne, and sharing their unforgettable stories with each other. The staff honored the veterans with a red rose and flag, gift bags with handmade ornaments that contained soldiers and flags, frames made for each veteran with their pictures to create an American Heroes wall to honor each veteran calling AOB their home.

An unveiling of a mural honoring the 15 veterans living at The Ashford at Sturbridge was how the community commemorated Veteran’s Day this year. The mural will be the focal point of the community, with scenes representing each branch of service and incorporating photographs of each veteran. These 14 men and one woman represent the Navy, Army, Airforce, and Marine Corps with service in World War II, Korea, and Vietnam. Teacher, Lexi Schmitt, created the Veterans Day mural. The American Legion of Hilliard led the community in the Pledge of Allegiance, and each veteran was presented with a certificate and flag pin honoring their service.

NBC4, a Columbus, OH television station, joined the Veteran’s Day festivities at The Ashford at Sturbridge.

These were two of many exciting and humbling events held throughout the country yesterday.

Wallick Celebrates The Crescent Grand Opening

On Thursday, many joined us in celebrating the grand opening of The Crescent at Oakleaf Village in Toledo-Sylvania, Ohio. The afternoon began with CEO, Amy Albery, giving the warm welcome.

Remarks were then said by several notable guests:

  • John CrandallSylvania Township Trustee
  • Mayor Craig StoughCity of Sylvania  
  • State Senator Theresa GavaroneSenate District 2  
  • Stephanie HessSVP, Senior Living Operations, Wallick Communities 
  • Monsignor Michael Billiangave the invocation 

Afterward, there was a ribbon-cutting, followed by tours, food, and welcoming the public on-site to commemorate the start and success of this community.

Thank you to all who were there to attend! For those who missed out but would like to watch, click here for a link to the celebration speeches.

The Crescent is an all-inclusive, independent living community with 54 units. Learn more about The Crescent here.

Mayor Rita Ali Tours Parkwood Commons

The mayor of Peoria, IL, Dr. Rita Ali, visited Parkwood Commons on October 6, one of Wallick Communities’ five affordable apartment communities in Peoria. Led by Jonathan Stonebraker, Wallick’s assistant regional vice president, Mayor Ali toured several apartment units and the community’s clubhouse, including a community room, on-site laundry facility, computer center, kitchenette, and management offices.

Currently, the State of Illinois lacks nearly 300,000 affordable rental homes. Parkwood Commons is one of the only affordable apartment communities for large families in Peoria, as the community offers 5-bedroom units. With Parkwood Commons’ rehabilitation, Wallick’s investment in the City of Peoria is now $70 million. It includes the recent restoration of 478 other apartment homes at Parkview Estates, Hurlburt House, Schlarman House, and Reservoir Estates.

Parkwood was built in the early 1970s, and until Wallick acquired the community, there had not been any physical updates or renovations since its construction. After nearly two years of work, Wallick completed its $19.4 million rehabilitation of Parkwood Commons in May of 2021.

Now, Parkwood has 100 total units spread across 50 buildings with two, three, four, and five-bedroom apartments. Significant rehab work was done in each apartment, including new plumbing; energy-efficient windows and doors; low-flow toilets, showerheads, and faucets; new kitchen cabinets and appliances; new light fixtures and ceiling fans in the living room and dining rooms; new water heaters; new hard-wired fire detection units in all areas; and new central HVAC.

Wallick Closes on Tenth Senior Living Community

Last Friday marked the closing of The Ashford of Beavercreek, a soon-to-be constructed senior living community in Beavercreek, Ohio.

This new development will have 22 private and shared memory care suites with 32 beds, and 82 studio, and one- and two-bedroom assisted and independent living suites for up to 120 residents.

The 104-unit community will be a single building with a three-story assisted and independent living wing, and a single-story memory care wing. A shared center area will link the two, featuring seating areas, activity rooms, a fitness center, beauty salon and barbershop, art studio, formal and private dining rooms, and a grab-and-go bistro that will have a dual purpose as a pub for happy hours and informal resident socializing.

When fully occupied, The Ashford of Beavercreek will create up to 51 new, full-time jobs in Beavercreek that include nurses, personal care assistants, maintenance techs, housekeepers, cooks, and marketing and administrative staff.

Construction will begin in October 2021 and is expected to be completed by the spring of 2023.

Cornerstone Crossing Celebrates Grand Opening

Cornerstone Crossing Senior Apartments, a new affordable apartment community in Elsmere, Kentucky, had its grand opening on Monday.

Amy Albery was there to welcome everyone and was followed by remarks from a variety of project partners, including State Representative Adam Koenig, Senator Mitch McConnell’s Field Representative Megan Bankemper, Kentucky Housing Corporation (KHC), Fifth Third Bank, HOPE of Kentucky, St. Henry Parish, Kenton County Judge-Executive, and City of Elsmere Mayor Marty Lenhof. The event proceeded with a ribbon cutting ceremony and site tours.

Cornerstone Crossing serves seniors over 55 years old. There are 50 apartment homes: 25 one-bedroom and 25 two-bedroom. This project had a total of $9.2 million in development costs. Through the KHC, it received an allocation of 9% Housing Tax Credit.

Find more information about Cornerstone Crossing here: https://www.cornerstone-crossing.com/.

The Ashford of Grove City Celebrates Grand Opening

Last Wednesday, August 18, The Ashford of Grove City (AGC) celebrated their grand opening. This was an all-day event with more than 60 people in attendance, including residents, business partners, Wallick associates, and several prominent figures:

  • Mayor Ike Stage: City of Grove City
  • Jason Knox: District Director for Central Ohio Office of US Senator Rob Portman
  • Ellen Short: Central Ohio Regional Representative Office of US Senator Sherrod Brown
  • Rabbi Areyah Kaltmann, Chabad Columbus

The morning began with speeches from these people listed above, as well as our own Amy Albery and Stephanie Hess. After the official ceremony and ribbon cutting, guests were welcome to tour the new building and meet the AGC team.

In the afternoon, the public was welcome to enjoy live music, hors d’oeuvres, dessert, and a tap truck. The AGC team continually offered tours, and the HR team provided information about job opportunities.

The Ashford of Grove City has 150 units and is Wallick’s fourth affordable assisted living community. With independent living and memory care units as well, AGC is our only community with all three levels of care in the same building.

Click here to watch the live recording of the morning portion.

Wallick Awarded Funds for Two New Communities

Wallick Communities received two separate awards to fund Summergrove Apartments in Bowling Green, OH and Oak View at Siler City in Siler City, North Carolina.

The Ohio Housing Finance Agency awarded Wallick Communities $3,000,000 (2021 Bond Gap Financing Award) in Ohio Housing Trust Funds to finance the construction of Summergrove Apartments, which will provide a high-quality, safe housing option for the local workforce within Wood County. Summergrove will have one, two, and three-bedroom apartments – a total of 96 units.

Additionally, the North Carolina Housing Finance Authority awarded Wallick Communities $9.7 million in 9% tax credits to finance the construction of Oak View at Siler City Apartments, Wallick’s first community in the state of North Carolina. To help fund the project further, Wallick also won the RFP issued by Chatham County, NC for land to develop affordable housing in Siler City. Oak View will be a multifamily community with a total of 72 units with one, two, and three-bedroom options.

Thank you to OHFA, NCHFA, and our partners for their unwavering support in the development of these pivotal communities.

Developer Rescues Struggling Illinois Project

Sarah Malone promoted to CFO

Wallick Communities is pleased to promote Sarah Malone to Chief Financial Officer, where she will oversee all company finance activities and acquisitions. Asset Management will continue to report to Sarah in her new role as we work to secure her successor.

Sarah joined Wallick in 2018 to lead Asset Management, ensure our communities perform well financially, and play a central role in driving business growth through acquisitions. Sarah is not only in charge of ensuring our property portfolio generates a return on investment, but she also sees to it that our communities are operated per our vision to provide safe, affordable homes to families and seniors.

Before starting at Wallick, Sarah spent ten years at the Ohio Capital Corporation for Housing (OCCH), as a leader in fund management. Sarah oversaw the day-to-day activities of LIHTC asset underwriting in this position, including the approval process, construction management, and closing. She also worked closely with investors on proprietary fund investments.

Sarah is currently a board member for the YWCA of Columbus, a nonprofit with a mission to eliminate racism and empower women through dialog, education, and practical resources. She received a bachelor’s in business administration and marketing from Ashland University, followed by an MBA from Capital University.

Congratulations, Sarah.

Congressman Bill Johnson Visits Wallick’s Corporate Office

After passing up his visit in January due to delays in the spending bill, Congressman Bill Johnson made good on his promise to tour Wallick Communities’ new corporate office last week. A solid supporter of affordable housing, Congressman Johnson represents Ohio’s 6th District in which five of Wallick’s affordable apartment communities are located:

  • Lawrence Village- 70 units
  • Lawrence Manor- 58 units
  • Cambridge Village- 60 units
  • Cambridge Commons- 40 units
  • Berwick Apartments- 49 units

Wallick Communities and Congressman Johnson have built a good relationship over the past few years, ever since Congressman Johnson visited the newly renovated Lawrence Village in 2014. On Friday afternoon, Congressman Johnson toured the company’s headquarters and sat down with CEO Tom Feusse as well as Wallick’s development team to discuss Wallick’s future affordable housing projects.

Before departing, Congressman Johnson praised Wallick’s work in the affordable housing industry and held a Q&A session for the entire corporate office, where he answered some of the industry’s –and country’s– most pressing questions.