LIMA — An affordable senior housing community may be coming to Spring Street.
New Lima–Housing for the Future and MVAH Development were recently awarded $1.2 million in affordable housing tax credits from the Ohio Housing Finance Agency for an 88-unit senior housing development, known as Spring Street Senior Lofts, to be located between Spring and West Market streets.
The development will offer one- and two-bedroom apartments for $294 to $790 per month, according to MVAH and New Lima’s application to the Ohio Housing Finance Agency.
Plans also call for the development to include a fitness center, community room, kitchenette and computer area.
“We recognize the substantial need for senior housing in the community as a whole,” Pete Schwiegeraht, MVAH’s senior vice president of development in the Midwest, told Lima City Council in April. “It is the fastest growing demographic in your community.”
Schwiegeraht noted that there are few affordable housing units open for seniors in the area, which is why MVAH, a Cincinnati-based affordable housing developer, agreed to partner with New Lima on the project.
It is unclear when developers will begin construction. Representatives for New Home Lima and MVAH didn’t return calls for comment Friday.