Cornerstone Capital Partners Is Senior Low Income Housing Tax Credit Development Consultant
Designed as single story flats appealing to more mobile senior households age 55 and over, the development is comprised of seven buildings and a community center nestled against a large, tree-lined hill with acres of open green space. Project completion is slated for the spring of 2018.
Cornerstone Capital Partners has been working with Pike Metropolitan Housing Authority for two years on the project. As development consultant, Cornerstone will be responsible for leading the development effort and providing the construction capital to complete the project.
Jeff Dortmund, Director of Development for Cornerstone Capital Partners, had this to say about the project:
“Pike County is in dire need of affordable senior housing. Ken Reed, Director of the Pike Metropolitan Housing Authority, identified the need and has been a great partner for Cornerstone. We are grateful that the Ohio Housing Finance Authority agreed with us and awarded the Low Income Housing Tax Credits to allow us the permanent funding that we need to complete the project. Ohio Capital Corporation for Housing has been a very valuable resource and partner throughout the process as well. We look forward to completing the project and working with Pike and other Housing Authorities in the future.”