Lancaster Club

Affordable Housing in Columbus, Ohio

Lancaster Club, originally constructed in 1978, is situated on 6 acres of well-maintained and landscaped grounds. The 92 unit, one-story cottage-style property features spaciously designed two and three-bedroom apartments. Each unit offers fully equipped kitchens, frost free refrigerator/freezers, garbage disposals and spacious patios. The Property also offers an on-site laundry facility, outside grills, beautiful landscaping, and community activities.

Total Cost

$4,376,990

Description
Lancaster Club is comprised of 48 two-bedroom units and 44 three-bedroom units. 100% of current households are income eligible for tax-credits (at/under 60% AMI) because all units receive rental subsidy through a project-based Housing Assistance Payment contract with HUD.

Financing
The Alpha Towers’ purchase price was $10,804,271. Secured financing and funding for
this project included:

$2,658,500PNC Debt
$1,718,490Owners Equity

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