Updated: Apr. 30, 2024, 5:53 p.m.This rendering, as presented to a City Council committee on Tuesday, shows the expected exterior of the Gordon Crossing affordable housing project in the Hough neighborhood.CLEVELAND, Ohio – City Hall is preparing to sell off two parcels in the Hough neighborhood to enable a four-story housing project that will offer what the city council president described as an “unheard of” share of units that are affordable to low-income Clevelanders.
Out of 54 units, only eight will be market-rate. The vast majority – 46 – will be priced as affordable for Clevelanders earning 70% or less of area median income . And 16 of those affordable units will be priced for those who earn far less, including 10 set aside for those making 30% of AMI.Most so-called “affordable” projects inresidents, and in most cases they’re priced for residents earning 80% of AMI, Griffin said.
Given Cleveland’s economy and poverty rate, monthly rent caps for a family living at 80% AMI are actually more akin to what many local families consider to be market-rate, Councilman Kris Harsh said Tuesday. Cleveland is selling the land for this purpose because “this is exactly the type of thing we want to see in our communities,” Community Development Director Alyssa Hernandez said.In 2022, the project won low-income housing tax credits from the Ohio Housing Finance Agency. It also secured $1.
Committee members were particularly excited about the developers’ plans to include 12 three-bedroom units in the project, as that option could meet the needs of families in a way that two-bedroom units may not.