Tender Mercies to rehab Harkavy Hall

(NOTE: In a story last week, I posted about Tender Mercies, Inc. being awarded federal tax credits for their Harkavy Hall project. Tender Mercies CEO Bren Blaine has provided me with more information on the project, which I didn't have at the time.)


Harkavy Hall, provided

Tender Mercies plans on beginning the rehabilitation of its Harkavy Hall building in May 2008.

The building, at 24 W Twelfth Street, currently contains permanent housing for 30 formerly homeless, severely mentally ill people. It also contains communal facilities, laundry facilities, a barber shop and a common area for residents.

As part of the $4 million project*, the entire building will be gutted and rebuilt to code, with an elevator, fireproof stairwells and ADA accessability. More modern and efficient HVAC will also be added.

The 30 single-room occupancy units will be reconfigured, and an unusable basement will be finished and will include an office, storage space and a new barber shop.

The structure's historical facade will also be restored.

Residents will be moved to one of Tender Mercies' other five buildings during construction.

Funding for the project comes from Low-Income Housing Tax Credits, Historical Tax Credits, private foundations and individual donors.

Construction should be completed by the end of 2008.

WINDOWS LIVE BIRD'S EYE VIEW
GOOGLE AERIAL MAP

* Actual construction costs: $2.8 million

Affordable housing projects win federal tax credits

The Ohio Housing Finance Agency (OHFA) has awarded Walnut Hills Redevelopment and Tender Mercies, Inc. federal tax credits for the development of affordable housing.

The federal tax credits, distributed via the OHFA, are enacted every year for ten years. The housing credit can be deducted from the owner's federal taxable income.

Walnut Hills Redevelopment won $870,000 in tax credits for the rehabilitation of the Walnut Hills Apartments at 849 Beecher Street. The rehab of the 197 units will cost $3.8 million.

Tender Mercies, Inc. was awarded $308,000 in tax credits for their Harkavy Hall project at 24 W Twelfth Street. Details on that project are unavailable.

Two other local applicants, Over-the-Rhine Community Housing and Model Property Development, did not receive any funds in this round.

The OHFA awarded more than $18.75 million in tax credits to 34 developers.

There were 90 total applicants.

To read about the losing applicants:
BC: Model Property Development seeking federal funds for fourteen-building rehab (7/3/07)
BC: North Rhine project could lead to 54 affordable units (6/12/07)