Developers Awarded Ohio Green Initiative Grants for Cleveland Projects

LOS ANGELES, Jan. 15 /PRNewswire/ -- Dedicated to providing funding to
"green" affordable housing development, Ohio Green Communities, a
collaborative of public, private and state agencies, has recently announced
the newest round of funding for Cleveland-based developments. The grants will
go to enhance already existing or newly construction multi-family homes for
people with low-incomes in Cleveland. The Ohio Green Communities collaborative
consists of the Ohio Capital Corporation for Housing (OCCH), Ohio Housing
Finance Agency and Enterprise's Green Communities Initiative with support from
the National City Community Development Corporation and the George Gund
Foundation.
"We are pleased to announce this newest slate of Ohio Green Communities
grantees in Cleveland," said Bill Whitney, Cleveland director of Enterprise
Community Partners. "Building healthier and more energy efficient homes is not
only a national trend, but a local one as well. This collaborative is right in
line with Mayor Jackson's 'green' building policy announced last November at
the Enterprise Community Conference. Enterprise has assisted in building
affordable homes here in Cleveland for over 20 years, and by adding the green
element to our work, we are helping to build more fit and healthy homes for
families and others in need in our city."
The 2007 Ohio Green Communities Developments are:
Cogswell House - Located in the Detroit Shoreway neighborhood of
Cleveland, Cogswell Hall and the Detroit Shoreway Community Development
Organization will renovate and expand this supportive housing development for
independent females. This $6.7 million project will include 18 renovated units
and 22 new affordable apartments.
Village Green Elderly - Cleveland based developers, NRP will construct a
50-unit independent elderly facility at East 182nd and Euclid Ave. Project
costs will be $8.3 million.
Tremont Pointe - Phase II - Developers McCormack Baron Salazar and the
Cuyahoga Metropolitan Housing Authority will build the second phase of this
major Hope VI mixed-income project. The 99 units to be completed in Phase II
will bring the total number of apartments and for-sale homes in the Tremont
Point development to 200, making it the largest Ohio Green Communities
development funded to date.
Ohio Green Communities brings up to $25 million in equity from the federal
Low Income Housing Tax Credit program, grants, technical assistance and
additional flexible financing to developers building affordable housing. As a
part of the Enterprise Green Communities Initiative, each project will meet
the Green Communities Criteria and will include a green building professional
on the development team. All Ohio Green Communities projects funded to date in
Cleveland received strong support from the city of Cleveland. Other local
Enterprise Green Communities programs are based in Florida, Massachusetts,
Michigan, Minnesota and San Francisco, and in additional cities through out
the country. For more information on the Ohio Green Communities program, visit
www.greencommunitiesonline.org/about/programs/ohio.asp.
Enterprise is a leading provider of the development capital and expertise
it takes to create decent, affordable homes and rebuild communities. For 25
years, Enterprise has pioneered neighborhood solutions through public-private
partnerships with financial institutions, governments, community organizations
and others that share our vision. Enterprise has raised and invested $8
billion in equity, grants and loans to help build or preserve 225,000
affordable rental and for-sale homes to create vital communities. Enterprise
is currently investing in communities at a rate of $1 billion a year. Visit
www.enterprisecommunity.org and www.enterprisecommunity.com to learn more
about Enterprise's efforts to build communities and opportunity.
SOURCE Enterprise Community Investment, Inc.

TeAnne Coleman Chennault of Enterprise Community Investment, Inc.,
+1-213.833.7988, ext. 32, Mobile, +1-301-343-0742,
TChennault@enterprisecommunity.org