HOUSING AND ECONOMIC DEVELOPMENT
Twin Towers Crossing
ABOUT HOUSING AND ECONOMIC DEVELPMENT
Having quality, affordable and safe housing is essential to providing a nurturing environment for children to grow and feel safe. In 2006 Twin Towers neighborhood, residents, East End Board of trustees and staff, along with partner organizations, developed a comprehensive housing strategy for the neighborhood that focused on the goal of improving about 25% of the neighborhood’s housing stock. Of the 1200 residential structures at the time, about 25% were vacant and deteriorating, and the heart of the neighborhood (Steele Avenue) was populated by crack houses. Because of the age and extremely poor condition of the existing housing stock it was decided that new construction of single family homes would be the strategy of choice.
The City of Dayton adopted our strategic plan and partnered with us to begin the process of acquiring properties for redevelopment. The City provided about $1.5M in predevelopment funding for the acquisition and demolition or deconstruction of the blighted structures. We then partnered with St. Mary Development Corporation and the Oberer Company to apply for a low income housing tax credit project in 2009 from the State of Ohio. Our project was awarded about $9M in tax credits and the first set of 40 new homes was completed in 2010. In 2012 we applied for and received a second tax credit project for an additional 40 homes, (another $9M in tax credits), and construction was completed in October 2013. East End also received additional funding from the City of Dayton to construct four additional homes during 2013, so all together the Twin Towers neighborhood now has 84 new homes where vacant deteriorated structures once stood.
Seventy-two of the 80 tax credit, affordable homes in the neighborhood have four bedrooms, full basements, garages, fenced backyards, and are extremely energy efficient to maintain affordability. Eight of the tax credit houses and the additional four that were funded by the City have three bedroom, garages, fenced backyards, and are built for energy efficiency and on-going affordability. To make room for the new homes and create 84 buildable lots 110 abandoned and blighting structures, were demolished. These projects represent more than an $18 million dollar investment in our neighborhood. The houses built with tax credits will be available for home ownership in 15 years from the date of first occupancy.
Twin Towers offers 3 and 4 bedroom single family homes at affordable rents. All homes are located within walking distance of Ruskin Elementary School, the neighborhood park, as well as East End Community Services. Visit the Oberer Twin Towers Crossing website for more information and to contact a Leasing Specialist today for more information on income restrictions and eligibility.