Huntington Bank Invests In Safe, Affordable Housing In Cleveland’s MidTown!
Posted April 20th 2017
(PHOTO: STEPHEN D. STEINOUR, CEO HUNTINGTON BANCSHARES)
It’s nice when the grandchildren come to visit.
Linda Griffin said little ones are always welcome at the Church Square Commons, where she and 48 other seniors live.
Built in 2010, it provided something that some folks on fixed incomes need desperately: a safe place to live and a place they can afford.
“My neighbors are so kind and they always give us activities in the summer,” Griffin said.
There are thousands of people like Linda who are trying to find places to live.
But with uncertainty over potential changes in tax laws, many banks and other financial institutions have pulled out of investments in creating affordable housing
However, at a news conference on Wednesday, Huntington Bank said it’s going ahead with its partnership with the Ohio Capital Corporation for Housing to the tune of $150 million.
“It’s certainly the right thing to do and that’s what matters. And it will certainly keep these housing projects in development,” said Huntington Bank CEO Steve Steinour.
The money will be spread throughout Northeast Ohio with projects in Ashtabula, Medina and Cuyahoga counties. The bulk of it, about a third of the investment, will go to projects to the MidTown corridor area. Steinhour said this area has a lot of potential to help people who need affordable housing.
One of Huntington’s first projects in MidTown, Church Square Commons was immediately filled within days of opening. There are several keys things for many folks living here: Housing that is in good condition, that’s secure and accessibility to public transportation.
Without that, many folks were in homes and apartments that were difficult to live in or afford.
“I’m retired, I’m on a fixed income and this is the best place to be. My hospital is Cleveland Clinic,” said Church Square resident Beverly Williams. “I go downtown a lot and my children live in the area, and the corridor is most excellent.”
Ohio Capital plans to get several projects moving again with this investment, including a new apartment building near East 55th Street