Properties – Salus Dev

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OWNER/DEVELOPER

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Franciscan Village

3648 Rocky River Drive | Cleveland, OH 44111

176 apartments throughout 3 buildings
Serves elderly and disabled tenants with Section 8 HAP Contract
Developed using Direct Bond Purchase Loan and Affordable Housing Tax Credits
Renovation to be completed by end of 2022

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Boardwalk Apartments

Scattered Site | Cleveland, OH 44108

123 apartments across 14 buildings
Serves family and disabled tenants with Section 8 HAP Contract
FHA Financing, Affordable Housing Tax Credits, Tax Exempt Bond Debt, City of Cleveland HOME Funds
Renovation to begin spring 2022

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Glenville Apartments

Scattered Site | Cleveland, OH 44108

50 apartments across 6 buildings
Serves family and disabled tenants with Section 8 HAP Contract
FHA Financing, Affordable Housing Tax Credits, Tax Exempt Bond Debt, City of Cleveland HOME Funds
Renovation to begin spring 2022

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Sacred Heart Manor

4285 Pearl Avenue | Lorain, OH 44055

50 apartments in a 5-story building
Serves elderly and disabled tenants with Section 8 HAP Contract
FHA Financing, Affordable Housing Tax Credits, Tax Exempt Bond Debt
Renovation to begin summer 2022

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Sheptytsky Arms

3505 Mexico Street | Pittsburgh, PA 15212

50 apartments in a 4-story building
Serves elderly tenants with Section 8 HAP Contract
PHFA First Mortgage, Affordable Housing Tax Credits, Urban Redevelopment Authority of Pittsburgh Rental Gap Program
Renovation to begin summer 2022

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St. George’s Close

3505 Mexico Street | Pittsburgh, PA 15212

18 townhouse style apartments
Serves elderly tenants with Affordable Housing Tax Credit rent restrictions

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Shevchenko Manor

5620 West 24th Street | Parma, OH 44134

63 apartments in a 3-story building
Serves elderly tenants with HUD 202 PRAC Agreement
Recapitalization with Affordable Housing Tax Credits, RAD for PRAC Conversion and New First Mortgage Debt planned for late 2022

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Shaker Park Gardens

4401 Northfield Road | Warrensville Heights, OH 44128

151 apartments in eight buildings
Serves families with Section 8 HAP Contract
FHA Financing, Affordable Housing Tax Credits, and Tax Exempt Bond Debt
Renovation completed April 2020

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Terrace Towers

15600 Terrace Road | East Cleveland, OH 44112

231 apartments in a 12-story building
Serves elderly and disabled tenants with Section 8 HAP Contract
FHA Financing, Affordable Housing Tax Credits, Tax Exempt Bond Debt
Renovation completed May 2021

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Riverside Manor

524 N 5th Street | Toronto, OH 43964

61 apartments in a 4-story building
Serves elderly tenants with Section 8 HAP Contract
FHA Financing, Affordable Housing Tax Credits, Tax Exempt Bond Debt, Ohio Housing Trust Fund Loan and Ohio Housing Finance Agency Home Development Loan
Renovation completed in August 2019

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Winton Manor

1012 Prospect Avenue East | Cleveland, OH 44115

270 apartments in an 11-story building
Serves elderly and disabled tenants with Section 8 HAP Contract
FHA Financing, Historic Tax Credits, Affordable Housing Tax Credits
Added commercial tenants to fill the first floor and provide additional revenue
Sold in December 2018

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CONSULTANT

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Robert Cassidy Manor

1370 Barnett Road | Columbus, OH 43227

75 apartments in a 3-story building
Serves elderly and disabled tenants with Section 8 HAP Contract

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Robert Holmes

5100 Brush Street | Detroit, MI 48202

100 apartments in a 7-story building
Serves elderly and disabled tenants with Section 8 HAP Contract

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Spoon River

401 N Illinois Street | Lewistown, IL 61542

100 apartments in a 6-story building
Serves elderly and disabled tenants with Section 8 HAP Contract

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Capitol Station

7828 Madison Avenue | Indianapolis, IN 46227

49 apartments in a 3-story building
Serves elderly and disabled tenants with Section 202 PRAC Contract

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Northwest Neighborhoods CDC

Scattered Site | Cleveland, OH 44102 & 44113

171 apartments and 14 commercial units across 9 buildings

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Joseph Knight

107 Westchester Drive | Youngstown, OH 44515

100 apartments in a 7-story building
Serves elderly and disabled tenants with Section 8 HAP Contract

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William Presser

480 Canton Road | Akron, OH 44312

100 apartments in a 9-story building
Serves elderly and disabled tenants with Section 8 HAP Contract

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Ohio Village

2535 Cross Village Drive | Miamisburg, OH 45342

48 townhouse style apartments
Serves families with Section 8 HAP Contract
FNMA First Mortgage, Tax Exempt Bond Debt, Affordable Housing Tax Credits

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