the NHP FOUNDATION Preserves
afforable housing in OHIO

Alpha Towers
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.

Total cost
$ 10,979,000

Description
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.

Financing
The purchase price for this property was $10,400,000.
Secured financing and funding for this project included:

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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

ALPHA TOWERS is just one example of how NHPF’s commitment to affordable housing has helped American families. For more information on NHPF’s properties, please visit http://nhpfoundation.org/properties.php.