Wallick-Hendy Development Rehabilitating Portfolio

The Wallick-Hendy Development team is busy renovating a significant portion of its portfolio - 1,700 units at 13 apartments communities - using a mix of federal and local programs as part of its ongoing commitment to being the premier service provider of affordable housing in the Midwest.

"While the capital markets remain a challenge, it is imperative we continue to find ways to preserve our affordable housing portfolio. Our development team has done an excellent job navigating these waters to ensure the quality of housing for our residents," said Wallick CEO Tom Feusse.

Project Highlights -

Fay Apartments in Cincinnati is a 703 unit apartment community serving low income families. The project is being financed through a combination of HUD"s Mark-to-Market program, the City of Cincinnati's Home Funds and other sources. This will be HUD"s largest green project in the nation.

Using the 9% Low Income Housing Tax Credit program, several properties are being renovated. They include:

• Almond Village, Dayton, OH - 60 units - senior apartments
• Berwick Manor, Cambridge, OH - 48 units - senior apartments
• Skybird Manor, Greensburg, IN - 60 units - senior apartments
• Rushville Commons, Rushville, IN - 48 units - low-income families and seniors

Additional properties getting facelifts through HUD's Mark-to-Market program are:

• St. Aloysius, Covington, KY - 48 units, senior apartments
• Eco Village, Fostoria, OH - 60 units, low-income families
• Haddon Hall, Cincinnati, OH - 110 units, senior apartments
• Ronez Manor, Springfield, OH - 179 units, low-income families
• Sunnyview Square, Delaware, OH - 30 units, senior apartments.

Through FHA refinancing programs, these apartment communities also are being rehabilitated:

• Carriage HIll Apartments, Athens, OH - 150 units, student housing
• Oakleaf Village, Columbus, OH - 121 units, assisted living
• Walter Sellers Apartments, Xenia, OH - 66 units, senior apartments.