Real Estate Development & Modernization (REDM) Department
The goal of the Real Estate Development & Modernization (REDM) department of Lucas Metropolitan Housing Authority is to fulfill the agency's mission to provide attractive, affordable homes housing for area residents. Investing and using funding perceptively, our staff has implemented many projects that enhance the appearance, safety, and efficiency of our local communities.
From small renovations to large development, quality performance is the hallmark of the REDM staff. The department's team of professionals works collaboratively to assure quality housing for our community.
Taking a project from concept to occupancy, through design, procurement, construction and administration, the REDM department consistently meets rigid standards that ensure quality surroundings for our Residents, staff, and members of our community.
Financing new development through Low Income Housing Tax Credits (LIHTC) has progressively become the future of new affordable housing development. In return for providing upfront LIHTC equity, investors receive a dollar-for-dollar credit against their Federal tax liability each year, over a period of 10 years. The LMHA is continually looking for ways to provide contemporary affordable housing solutions to supplement and improve our current offerings of apartments, townhome, and single-family homes.
LMHA secured financing through both public and private sources for Collingwood Green a new multi-phase mixed-income community on the former Brand Whitlock and Albertus Brown Affordable Housing (commonly known as Low Income Public Housing or LIPH) sites.
Phase I of the redevelopment, a 65-unit Senior building with private balconies, a large community room, library, exercise room, as well as flexible space for doctors or other community services, was completed in the Spring of 2013.
Phase II, a 68-unit family townhouse community, was completed late 2015 and has been designed to accommodate the needs and wants of modern active families. In addition, these new homes were constructed to achieve the LEED for Homes Certification.
Phase III, a 55-unit family townhouse community is currently under construction with an expected completion date of Spring 2020. A continuation of Phase II these homes are designed for modern active families. Construction was designed to achieve LEED for Homes Certification.
The planning for future phases of Collingwood Green are well underway including a mixed use residential and commercial development along with additional townhomes.
Looking ahead, LMHA will begin to develop housing at all levels of the continuum of care from helping to prevent homelessness to market rate (unsubsidized) housing.
Rental Assistance Demonstration Program (RAD)
LMHA recently converted Parqwood Apartments from traditional affordable housing to Project-Based Vouchers under the new Rental Assistance Demonstration (RAD). The conversion of Parqwood has allowed LMHA to continue to offer quality housing to our residents while adapting to changes in funding sources. Utilizing mixed financing sources, the Parqwood conversion was the first RAD project in Ohio.
Updates to the 134 unit building included accessibility upgrades, finishes and fixtures replacements, window replacement, replacement of the major mechanical systems, and improvements of public spaces.
LMHA will continue to pursue additional opportunities for RAD conversion of affordable housing as this tool allows LMHA to bring private capital dollars into the site to enhance the housing units and provide long term affordability of the rents into the future for the residents.
Real Estate & Development - Home Ownership through Lucas Housing Services Corporation
In keeping with our mission REDM rehabbed and constructed three homes for resale in the past year helping to stabilize an up and coming neighborhood near Downtown Toledo.
In collaboration with the Lucas County Land Bank and City of Toledo LMHA was able to acquire a four-bedroom home on Woodland Avenue. The existing home was in a severe state of disrepair and required major upgrades and repairs. Renovations included new wiring, plumbing, HVAC, windows, and structural repairs. New interior finishes were updated throughout the home as well as new energy efficient appliances. The home sold within a matter of months of it being on the market.
Through a grant from the Lucas County Land Bank LMHA was able to design and develop in-house two new single-family homes for resale on Moorish Avenue adjacent to the new Collingwood Green Development. These highly efficient homes were designed to blend into the existing neighborhood and feature attached garages, three bedrooms, two bathrooms, foyer and great room. The homes were also designed to allow for ease of access for those with mobility impairments and age in place adaptability.
LMHA partners with its non-profit affiliate Lucas Housing Services Corporation (LHSC) and other agencies as a part of the Year 16 Initiative to provide Homeownership opportunities for LMHA and Lucas County Residents. Through the Year 16 Initiative LHSC has acquired over 100 single family homes from financially stressed Low Income Housing Tax Credit Projects. LHSC partners with Homeownership Counseling Agencies including NOHDA to develop a pipeline of potential home buyers. LHSC's program is unique and provides soft second financing to low to moderate income buyers to make the purchase of these homes affordable. LHSC along with its partners are working to revitalize neighborhoods where many of these houses sit vacant by renovating them and placing homeowners in them. LHSC's work is made possible through partnerships, grants and loans provided by the Lucas County Land Bank, LISC, many local banks, the City of Toledo and LMHA.
Lucas Metropolitan Housing Authority has recently entered into a contract for Energy Performance Contracting at the majority of our properties. Energy Performance Contracting (EPC) is an innovative financing technique that uses cost savings from reduced energy consumption to repay the cost of installing energy conservation measures. This innovative financing technique will allow LMHA to achieve energy savings without up-front capital expenses.
During the next year, LMHA shall have water and electricity saving measures installed at most of its developments along with other long-term savings such as window and mechanical system replacements. These energy improvements will not only improve the comfort of our residents but will also result in reduced utility costs and resource usage across the agency.
Due to the success of the initial EPC, LMHA is evaluating a small second phase EPC in 2020.