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afforable housing in OHIO
Senior Housing in Toledo, Ohio
ALPHA TOWERS, originally constructed in 1978, is situated on 3 acres of well-maintained and landscaped grounds. The 165 unit, 9-story, mid-rise building features efficiently designed one and two bedroom floorplans averaging 601 square feet. Each unit contains a fully equipped kitchen, a private full-length balcony, individually controlled heat, and safety bars and pull cords in the bathrooms. The Property also offers an amenities package tailored specifically to seniors, which includes a community meeting room, a library, and a recreational room complete with pool table and exercise equipment. Additional amenities and services provided include an on-site laundry facility, outside grills, a controlled access entry system, planned social activities, free Wifi, and a new business center with computers.
Alpha Towers’ is comprised of 158 single-bedrooms units and 7 two-bedroom units. 100% of households (at/under 60% AMI) receive rental subsidy through a project-based Housing Assistance Payment contract with HUD.
The purchase price for this property was $10,400,000.
Secured financing and funding for this project included: