Green Communities in Ohio
Ohio Green Communities is part of our national effort to transform the way affordable housing is thought about, located and developed. Nationwide, Enterprise Green Communities has invested more $700 million in homes built according to the Green Communities Criteria, creating nearly 16,000 green affordable homes in more than 30 states and providing significant health, economic and environmental benefits to low-income families and communities.
- The cities of Cleveland and Columbus have adopted the Enterprise Green Communities Criteria as the standard for homes rehabilitated and rebuilt under the federal Neighborhood Stabilization Program.
- More than half of the developments awarded Low-Income Housing Tax Credits in 2009 met the criteria.
- Enterprise is also developing a Green Retrofit Fund: a new financing tool for developers to retrofit their multifamily properties with energy-saving features.
Cleveland Green Homes II
Enterprise and the Cleveland Housing Network recently celebrated the completion of Cleveland Green Homes II, a community of 45 fully accessible single-family homes. All are “lease-purchase” homes available to families with incomes below 60 percent of area median income, and every home meets the Enterprise Green Communities Criteria.
Cleveland Green Homes II received substantial funding from the Ohio Housing Finance Agency and the city of Cleveland, and was also awarded funding from the Ohio Green Communities initiative.
“These attractive, sustainable homes are scattered throughout six Cleveland neighborhoods that make up the city’s Strategic Investment Initiative targeted areas,” said Mark McDermott, Enterprise vice president and Ohio market leader. “These communities also overlap with ongoing neighborhood stabilization efforts. The development of Cleveland Green Homes II is a key part of revitalization efforts.”
Cleveland Housing Network will lease the homes during the 15-year Low-Income Housing Tax Credit (LIHTC) compliance period, and sell them to existing residents after the compliance period ends. Sale prices are set at an affordable amount so that buyers’ monthly payments will not be higher than their previous rent. Prior to purchase, Cleveland Housing Network will provide homebuyer and financial education to residents.