Finance Fund and Integrated Services for Behavioral Health, Inc. celebrated the renovation of 53 units of affordable housing for low-income seniors, families, and individuals with disabilities residing at Carpenter Hall in uptown Athens today. The renovation was commemorated by the unveiling of an outdoor mural on the property commissioned by local artists at Passion Works Studio.
The units were able to be preserved through low-income housing tax credits awarded to Finance Fund by the Ohio Housing Finance Agency. Finance Fund then partnered with ISBH in securing the property and the nearly $8 million in funding necessary for purchase and renovations.
Originally constructed in the early 1980’s, Carpenter Hall consists of six efficiency, 44 one-bedroom and three two-bedroom apartments. The acquisition and renovation will provide affordable housing in Athens for the next three decades.
The renovated Carpenter Hall includes a new lobby with a sundry, an on-site leasing office, a new community kitchen, a healthcare office, new laundry areas and an exercise room. ISBH provides behavioral healthcare and service coordination.
“Passion Works has created a magical place where people of all abilities can go,” said Athens Mayor Steven Patterson.
“Carpenter Hall is the perfect example of Finance Fund’s commitment to developing affordable housing solutions for vulnerable Ohioans,” said Jeff Mohrman, executive vice president of Real Estate at Finance Fund. “Mixed-income housing makes communities like Athens strong, and we are proud to optimize these units for residents and ensure long-term affordability that will provide them and their families peace of mind for years to come.”
All units are eligible to residents with incomes up to 60% of the area median income, while 25% of those units will be set aside for residents with incomes not exceeding 30% of the area median income. HUD Project-Based vouchers provide eligible residents with rental subsidy.
“Carpenter Hall has been a part of uptown Athens for many years,” said Kevin Gillespie, executive director of Integrated Services for Behavioral Health. “Now, residents can enjoy newly renovated apartments while the entire community can share the experience of another lovely Passion Works creation – all part of what makes Athens such a great place to live, work and play.”