Cleveland, OH
KeyBank Provides $10 Million for Seniors Affordable Housing in Cleveland Heights, OH
CLEVELAND, OH / ACCESSWIRE / July 18, 2023 / KeyBank Community Development Lending and Investment (CDLI) provided $9.9 million in low-income housing tax credit (LIHTC) equity to finance the conversion of the Margaret Wagner Senior Apartments in Cleveland Heights, OH to 80 low-income housing senior units (62+). This development will create 20 new apartments through the adaptive re-use of the first floor of Margaret Wagner House and preserve 60 apartments on the upper floors.
Built in 1960 as a nursing home by the Benjamin Rose Institute on Aging, the facility offers HUD 202 PRAC subsidy for 100% of its units. In addition to creating 20 new one-bedroom units, the project will renovate existing units with updated kitchens and bathrooms, improved accessibility, central air conditioning, elevator modernization, new roofing, and site improvements.
The project’s total cost is $18.7 million. Other financing sources include a HUD 202 Capital Advance, Cuyahoga County HOME and Affordable Housing Gap funding, Affordable Housing Program Grant funding through Federal Home Loan Bank of Boston and seller financing.
The project is being co-developed by CHN Housing Partners (CHN) and Benjamin Rose, both organizations are headquartered in Cleveland, OH. Margaret Wagner Senior Apartments will provide much needed senior affordable housing in a market where demand far outstrips supply.
For more than a century, Benjamin Rose has been providing care for Cuyahoga County’s senior population, and, in partnership with CHN, will continue to manage the property and provide supportive services to its residents. A service coordinator will meet with each new tenant during orientation and offer to discuss the individual’s needs with emphasis on behavioral health, preferences for socialization activities, linkage to community-based partners, and primary health care providers when appropriate. Benjamin Rose has also coordinated with the City of Cleveland Heights Office of Aging to provide low-cost transportation for seniors within a 5-mile radius.
“Affordable housing development is never easy, but a strong development team allowed us to overcome the many challenges we faced while getting this project to the construction stage, and we are particularly grateful for KeyBank’s financial support,” said Mike Bier, Senior Project Manager for CHN Housing Partners. “The Margaret Wagner facility has a storied past in Cleveland Heights, and CHN is glad to be a part of its revitalization.”
“Since our founding in 1908, Benjamin Rose Institute on Aging has worked to ensure that older adults have a place to call home,” said Orion Bell, President and CEO, Benjamin Rose Institute on Aging. “Margaret Wagner House has been part of that legacy since 1960 and we are excited to see the property evolve to meet the changing needs of the people we serve and the neighborhoods in which they choose to live. We are grateful for KeyBank’s investment in this project and the community.”
“We are thrilled to be working with Benjamin Rose and CHN Housing Partners to provide affordable housing for our seniors,” said Derek Reed, Vice President, KeyBank CDLI. “KeyBank is committed to the communities we serve, and this investment is a key part of our efforts to build on the success of our National Community Benefits Plan.”
Derek Reed structured the tax credit equity investment and Tara Miller served as the Underwriter for the transaction.
About Benjamin Rose Institute on Aging
Founded in 1908, Benjamin Rose Institute on Aging is a Cleveland-based nonprofit whose mission is to support caregivers and empower all people to age well through research, consumer-responsive services, and client advocacy. Our work is accomplished by deepening the understanding of their evolving needs in a changing society; developing and delivering innovative, high-quality solutions; and promoting effective public policies. The following programs and subsidiaries operate together to fulfill our mission: Eldercare Services Institute, LLC; Rose Centers for Aging Well, LLC; Empowering and Strengthening Ohio’s People (ESOP); Margaret Wagner Apartments; Center for Research and Education; and Community Advocacy. For more information visit:www.benrose.org.
About CHN Housing Partners
Founded in 1981, CHN Housing Partners is a large-scale affordable housing developer, housing service provider and residential lender that works with its partners to solve major housing challenges for low-income people and underserved communities in Ohio, Michigan, Pennsylvania, and New York. CHN partners with utility companies, financial institutions, and public agencies to manage and deliver large-scale housing resources. CHN also partners with people-low-income individuals, families, seniors, the disabled and the homeless-to improve their housing stability. CHN’s impact in Cleveland includes 3,200 new homeowners, the housing stability services it provides annually to more than 50,000 individuals, and the development of 7,000 new homes. CHN is a chartered member of the NeighborWorks America network. http://www.chnhousingpartners.org
About KeyBank Community Development Lending and Investment
KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank’s platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 10 consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act’s passage in 1977.
About KeyCorp
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $198 billion at March 31, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.
Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: [email protected]
SOURCE: KeyBank
View source version on accesswire.com:
https://www.accesswire.com/768623/KeyBank-Provides-10-Million-for-Seniors-Affordable-Housing-in-Cleveland-Heights-OH
Cleveland, OH
Cleveland Browns Foundation and United Airlines surprise Stay in the Game! educator with a trip to Super Bowl LIX in New Orleans
CLEVELAND, OH – On Tuesday, Dec. 17, the Cleveland Browns Foundation surprised Ann Pesta, an educator from Stay in the Game! partner school Lakewood High School, with a surprise gift and recognition: tickets to Super Bowl LIX, round-trip flights courtesy of United Airlines, and accommodations for her and a guest.
The Stay in the Game! Attendance Network, launched in 2019, provides support and resources to Ohio school districts with the goal of increasing school attendance and decreasing chronic absenteeism. The Network supports 161 districts throughout the state of Ohio, with 108 of those districts within the Browns region, including Lakewood City School District.
Pesta, a Lakewood science teacher, received the news in front of her students and colleagues during a catered holiday luncheon, courtesy of the Browns. Browns players – guard Wyatt Teller, wide receiver David Bell, defensive back Tony Browns II and Chomps – were in attendance to present the tickets and commend Pesta for her impact on students throughout her 30-year career.
“It is a huge honor to be able to surprise Ms. Pesta today and show her that her job matters a lot to the Browns organization, Stay in the Game! and to me personally as my mother, father and older sister are educators,” said Browns defensive back Tony Brown II. “They can positively affect a young adult’s life by encouraging them to come to school. So hopefully something like this can show teachers that they are seen and appreciated.”
In November, the Browns called for nominations of educators who inspire students to show up for school. Receiving a large number of nominations, Pesta was selected for her contribution to education by creating an engaging learning environment that encourages regular student attendance. She was nominated by both current and former students, parents, and colleagues, which shows the impact she has had on her community throughout her career.
“We are so excited to be part of Stay in the Game! because it gives us another way to really reinforce the great things that so many of our Lakewood teachers are doing,” said Lakewood City School Coordinator of Student Wellness, Dr. Merritt Waters. “To partner with an organization like the Cleveland Browns to help show Ms. Pesta just how much we appreciate her is fantastic.”
In addition to the Super Bowl surprise, the Cleveland Browns Foundation and United Airlines invited Pesta and four other educators from Stay in the Game! partner districts across NE Ohio to be celebrated at the last Browns home game of the season against the Miami Dolphins on December 29th. Each educator will have the opportunity to bring three guests with them to enjoy the game.
One of United Airlines’ key areas of focus in the community is youth education, which aligns with the efforts of the Browns Foundation and Stay in the Game! Attendance Network. As a part of that focus, United Airlines wanted to help celebrate Pesta by providing the flights and recognizing four other educators who are making a huge impact on their students.
Dec 20, 2024; Philadelphia, Pennsylvania, USA; Philadelphia 76ers forward Paul George (8) controls the ball against the Charlotte Hornets in the fourth quarter at Wells Fargo Center. Mandatory Credit: Kyle Ross-Imagn Images
The Philadelphia 76ers, fresh off their Friday night victory over the Charlotte Hornets, 108-98, travel to Cleveland to take on the Cavaliers on Saturday night. As expected, the team will be without Joel Embiid, as the plan was for him not to play back-to-back games and even more with the broken sinus he sustained last week. The Cavaliers have been leading the NBA since the start of the season and have shown no signs of slowing down.
Sixers game information
Who: Philadelphia 76ers (9-16) at Cleveland Cavaliers (24-4)
When: 8 p.m. EST
Where: Rocket Mortgage Fieldhouse, Cleveland OH
Watch: NBC Sports Philadelphia, NBA League Pass, Ball Sports Ohio
Latest on the Sixers
When Embiid left the team’s game against the Pacers last Friday with what would later be revealed as a sinus fracture, the team and its fans thought for sure they wouldn’t see the Sixers big man back any time soon. Yet, Friday night, Embiid was out on the floor leading his team.
Without Embiid against the Cavaliers, the team will need Paul George to step up as he did on Monday nights game against the Hornets where he and Tyrese Maxey combined for 73 points. Friday, George finished with just five points on 2-12 shooting, including 1-7 on his three-point attempts. Against a team like the Hornets, with Embiid playing, you might get away with a game like that but against the Cavaliers, that will not work at all.
The Sixers are without Embiid as well as star rookie Jared McCain, so they’re going to need Maxey, George and Kelly Oubre Jr. to play some of the best basketball of the season, if they’re going to have a chance to win the game. While their defense has been improving the team must shoot better than the 36% they did on three-pointers against the Hornets.
Latest on the Cavaliers
The Cavaliers have been rolling and are 7-1 since dropping straight games to the Atlanta Hawks at the end of November. The team’s only loss was to the Miami Heat on December 8th, and that game was closer than it looked. The team matched up evenly throughout the whole game, with the lone exception being the Heat, which took eight more foul shots.
The Cavs jumped out of the gate this season, and they haven’t looked back since. They feature a balanced attack with six players averaging double figures in season scoring. They’re led by Donovan Mitchell, who’s scoring 23.5 points per game, but he’s doing that while shooting a career-best 40.5% on his three-point attempts. While he’s their biggest name, the team isn’t a one-man show.
Darius Garland and Evan Mobley are also putting in 30 minutes per game, with Garland giving the team 20.1 points and Mobley 18.2 points per game. They are also shooting career highs from beyond the arc, as Garland is hitting at a 42.6% rate, and Mobley is shooting 39.7% for the year. Add in Jarrett Allen, Caris Levert, and Ty Jerome, and the team has depth, and they’re playing well together.
What to watch for tonight
While the Sixers sit just outside of the top ten in defensive rating, it may not help much tonight as the Cavaliers are seventh in the league in defense. The Cavs offense just happens to be the top offense in the league, while the Sixers rest just a few spots away from the very bottom.
Without Embiid and McCain, the Sixers will be leaning on Maxey and George to try to replicate their games from earlier in the week while asking Kelly Oubre Jr. to, once again, step up as the team has needed him. Andre Drummond and Guergshon Yabusele should see some good minutes against a smaller Cavaliers team, but neither will be able to keep pace with the Cava offense and could look to be in foul trouble early on.
Watch to see if Tyrese Maxey continues to improve his shooting and if Paul George can have a bounce back night after last nights horrible shooting. If you’re lucky you’ll get a few KJ Martin and Ricky Council IV highlights.
Prediction
Cavaliers 115 – Sixers 97
CLEVELAND, Ohio (WOIO) – Multiple local, state and federal law enforcement agencies worked together to arrest a total of 68 people with felony warrants in the city.
“Operation Clean Sweep” happened between Nov. 17, 2024 and Dec. 20, 2024.
These arrests include people charged with:
- Murder
- Aggravated robbery
- Rape
- Drug trafficking
- Additional Crimes
20 guns were also recovered as part of the operation.
The “clean sweep” took place in Cleveland and other cities in northeast Ohio, including:
- Akron
- Canton
- East Cleveland
- Strongsville
- Parma Heights
The “final round up” on Tuesday ended with eight arrests with the assistance of the U.S. Marshals and the FBI.
Copyright 2024 WOIO. All rights reserved.
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