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Huntington Bank Announces Federal Home Loan Bank Grant-Supported Partner Projects For 2014

Stocks in this article: HBAN

Huntington Bank ( www.huntington.com) and the Federal Home Loan Bank of Cincinnati are supporting $36 million in eight affordable housing projects in Ohio, Michigan and Indiana. The projects were awarded FHLB Affordable Housing Program grants of over $2.6 million in November which complements $28 million in intended Huntington financing toward the creation of a total 255 affordable housing units.

The FHLB Cincinnati grant-supported Huntington projects announced in 2013 are:

  • Columbus – YWCA Columbus Griswold Building Renovation, a $14.5 million rehabilitation of 90 units at the 65 S. Fourth St. housing center for women in transition. The project received a $600,000 FHLB Cincinnati Affordable Housing Program (AHP) grant.
  • Columbus – Hawthorn Grove apartments, sponsored by Community Housing Network Inc., construction of a $6.1 million, 40-unit complex for persons with disabilities. The project received a $500,000 FHLB Cincinnati AHP grant.
  • Cincinnati – City Gospel Mission’s York Street center, a $1.3 million, 36-unit shelter for special needs that is part of a larger campus development at York Street and Dalton Avenue. The project, also supported by 3CDC, received a $540,000 FHLB Cincinnati AHP grant.
  • Louisville, Ohio – Stone Ridge Village, sponsored by ICAN Housing Solutions and developer Testa Builders, a $7.6 million, 40-unit senior housing development in Stark County. The project received a $400,000 FHLB Cincinnati AHP grant.
  • Anderson, Ind. – Parkview Place, sponsored by Episcopal Retirement Homes, a $4.8 million, 30-unit senior housing development on the upper floors of the Anderson YMCA. The project received a $299,970 FHLB Cincinnati AHP grant.
  • Findlay, Ohio – A $600,000, 12-unit special needs housing project for persons with disabilities sponsored by Century Health Inc. and the Hancock County ADAMHS Board. The project received an $180,000 FHLB Cincinnati AHP grant.
  • Detroit – A $713,700, five-home Habitat for Humanity Detroit development in the Morningside Commons neighborhood. The project received a $50,000 FHLB Cincinnati AHP grant.
  • Yellow Springs, Ohio – A $370,000 two unit home ownership project by Yellow Springs Home Inc. The project received a $49,998 FHLB Cincinnati AHP grant.

By the end of 2015, Huntington will have delivered on a five-year, $250 million commitment to affordable rental housing investment in Ohio. Huntington is also on pace to meet a three-year, $100 million Michigan affordable housing support commitment that will conclude in 2015. The Anderson, Ind. project is Huntington’s first FHLB Cincinnati AHP grant awarded in Indiana.

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