ASHLAND – A new affordable housing apartment complex is coming to Ashland, Mayor Matt Miller confirmed.
Located on three acres of currently vacant land at 1100 Sugarbush Drive, behind Home Depot, Union Lofts will be a three-story, 55,000-square-foot complex, according to Miller.
Indianapolis-based developer TWG Development plans to begin construction on the 48-unit complex in spring 2019 and to open the apartments in spring 2020, Miller said. The total investment in the project is around $8.6 million, Miller said.
The developer is partnering with The Ohio District 5 Area Agency on Aging, which will be a 25-percent minority general partner in the project and will provide service coordination to the building, according to Teresa Cook, vice president of marketing and development at the agency. This partnership allowed the developer to receive a Low Income Housing Tax Credit to construct the units as affordable housing.
While the rental rates must be affordable, Miller said TWG takes pride in offering quality housing. The developer constructs and manages its own properties and has built or is building apartment complexes in nine states, according to its website. Other TWG sites in Ohio include the completed Sands Senior Apartments in Cincinatti and an afforadble senior community called Carpenter Flats in Norwood, which is set to open next year.
Though the Area Agency on Aging is involved in the Ashland project, the facility will have no age restrictions and will be designed for tenants of all ages, Miller said, adding that seniors and younger residents alike will appreciate the apartments’ close proximity to a grocery store, retail spaces, banks and an urgent care clinic.
The complex will include a mix of one, two and three bedroom apartments and will have a community room, fitness center and on-site green space.
Miller said he believes the project will help meet a need for affordable, quality rental units in Ashland.
“As we have talked about cleaning up some of the properties around town, we have been asked what we are doing to help those with lower incomes live in high quality space,” Miller said. “These apartments are one part of that.”
Miller said he asked a representative from the development company to explain what drew them to Ashland, and her response surprised the mayor.
She said one of the company’s previous associates who was living in Cleveland frequently drove on I-71 on the way to other TWG properties. The associate noticed the “Ashland” sign across the bridge over I-71 at U.S. 250. The sign made him curious enough to stop and look around, and eventually to choose Ashland as a development site.
Local leaders have made the U.S. 250 East corridor a priority for Ashland’s targeted action plan in hopes of making the city more attractive to visitors coming from I-71.
