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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.

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.