The NRP Group is awarded $800,000 state tax credits for the $9.1M project
TIFFIN, OHIO – June 16, 2016 – Following yesterday’s announcement by the Ohio Housing Finance Agency (OHFA) awarding $800,000 in housing tax credits to the NRP Group, the Cleveland-based housing developer announced today that they intend to move forward with the Tiffin Pointe garden-style apartment complex project. The project will be located on 7.5 acres at 1692 West Market Street, and construction is expected to begin early next year.
The Tiffin Pointe project will feature up to 52 two-, three-, and four-bedroom units along with a Clubhouse. The project will involve a total investment of $9.1 million, and the units will have open floor plans, multiple bathrooms, modern appliances, and security systems. The property will feature a clubhouse, picnic area, library, playground, laundry facilities, and a computer room. There will also be onsite management to oversee the property and work directly with residents to assist them in connecting with local, state, and federal resources.
In making the announcement, NRP Assistant Developer Mary Hada praised the community, saying “Tiffin has been one of the easiest communities to work in, and we hope to do future projects here. We are excited that this development will provide additional quality affordable housing and meet a large community need.” The project was one of 40 to receive tax credits out of 92 applicants and is still contingent on receiving a local Community Reinvestment Area tax exemption. NRP plans on applying for that program in the near future.
NRP is also required to create, fund and implement a relocation assistance plan to help any involuntarily displaced residents of the current Westgate Mobile Home Park, which is located on part of the site and has 16 units. The plan will be funded by $50,000 in pledged developer fees and will be reviewed and approved by the Seneca County Family and Children First Council as well as WSOS Community Action.
Tiffin Mayor Aaron Montz was very pleased by the news. “We’re firing on all cylinders right now, with industrial, retail, downtown, and now residential development booming as well. And the best part is, we are improving the quality of life for all Tiffin residents and putting measures in place to ensure everyone affected will be supported.”
About the NRP Group
The NRP Group, LLC is located in Cleveland, OH and has won national awards for their multifamily housing projects. In 2014 they were named Multifamily Development Firm of the Year by the National Association of Home Builders and in 2015 ranked 9th best in the country by the National Multifamily Housing Council. The NRP Group, LLC owns and manages their properties after construction, ensuring quality will be maintained over time.
Started in 1983, the Seneca Industrial and Economic Development Corp. (SIEDC) is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at www.senecasuccess.com.