Set to be located in the 800 block of East Main Street across from the Dayton Metro Library Trotwood Branch, the project is part of an effort to restore housing options to a region that was hard-hit by the 2019 Memorial Day tornadoes.
“After the immediacy of dealing with the devastation, the conversation turned to asking how we can replace the housing that’s been lost and what is the most appropriate way to do that,” said Steve Naas, president of County Corp. “This project is what came out of that conversation.”
The proposed 63-unit development will be comprised of 1-, 2-, and 3-bedroom apartments, Naas said, and will be geared toward working families.
“All of these units will be reserved for households that are at 60% of the area median income or below,” Naas said, noting that there’s a significant need for affordable housing in the area. “A study we conducted that came out last year (showed) that for every three apartment units that were in Montgomery County, there were 10 households looking for apartments on the affordable side ... this will address a small part, but it’s a sizeable amount in one development.”
Naas highlighted the site’s location near several community resources. Along with the library, the Goodwill Easterseals Miami Valley, a Montgomery County Courts building and a bus line are nearby.
Apartment units will range from about 660 to 1,100 square feet, with prices ranging from around $700 to $1,100. Naas said housing vouchers will be accepted.
Naas said County Corp has secured funding for the project with $8 million in equity from the Low Income Housing Tax Credit program offered by the Ohio Housing Finance Agency, along with $1.5 million from the Housing Development Assistance Programs, $2.8 million from the National Housing Trust Fund and $3.3 million in a First Mortgage loan.
Naas said construction will begin around March 2024, with an estimated completion date of July 2025.
Those interested in applying for housing can contact Oberer Homes by calling 937-531-5505 or visiting www.ObererHomes.com beginning in January 2025 to be added to a waitlist.
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