AHEPA National Housing Corporation & AHEPA 63 Apartments, Ltd. Break Ground in Tallmadge, OH

AHEPA 63 Apartments, a new residential community for low income seniors, is now underway in Tallmadge, Ohio.

Online PR News – 04-June-2012 – Tallmadge, OH – A new residential community for low income seniors is now underway in Tallmadge, Ohio. On Thursday, May 10, 2012, a Groundbreaking Ceremony was held at the site of the future AHEPA 63 Apartments, 485 South Avenue, Tallmadge, Ohio 44278. Developed by AHEPA National Housing Corporation (ANHC) of Fishers, IN and the Department of Housing and Urban Development (HUD), the apartment community is sponsored by AHEPA National Housing Corporation and supported by owner corporation AHEPA 63 Apartments, Ltd., which is comprised of members of the Goodfriendship AHEPA Chapter #63 of the Order of AHEPA based in Akron, OH.

The groundbreaking began at 11:00 a.m. Welcoming the crowd was Dr. Thomas N. Adams, President of AHEPA 63 Apartments, Ltd. Local officials in attendance were David Kline, Mayor of Tallmadge, Dennis Loughry, Tallmadge Economic Development Director, and Phyllis Mitchell of the HUD office of Cleveland, OH. Also attending were Stephani Calderon, Corporate Vice President of AHEPA Management Company, Demetri Damaskos, Director of Development from AHEPA National Housing Corporation and Angelo Kostarides, newly elected President of AHEPA National Housing Corporation. Refreshments followed the groundbreaking at the Erie Station Grille in Tallmadge.

Projected completion for the new three-story, 50-unit affordable apartment building is May of 2013. The property will house residents 62 and over and the disabled upon income qualification. AHEPA 63 Apartments will be managed by AHEPA Management Company. The AHEPA 63 Apartments development is the first AHEPA community to incorporate Tax Credit financing with 4% bonds coupled with the HUD capital advance. HUD awarded the project with $5,200,000.00 plus $1,600,000.00 in tax credit financing from Ohio Capital Corporation for Housing for a total of $6,800,000.00.

About AHEPA National Housing Corporation
AHEPA National Housing Corporation (ANHC) develops HUD-subsidized Section 202 housing for low income disabled and elderly ages 62 and up. Established in 1983, ANHC is headquartered in Fishers, IN and serves over 4800 senior citizens throughout 22 states with apartments and expanding amenities. AHEPA National Housing Corporation complies with the Federal Fair Housing Act through Equal Housing Opportunity. It is a not-for-profit 501(c)3 organization.

Property management services for AHEPA National Housing Corporation communities are provided by AHEPA Management Company, a wholly-owned subsidiary of AHEPA National Housing Corporation established in 1991 to provide on-site property management, maintenance and resident-empowering support services for all AHEPA National Housing Corporation communities. Currently AHEPA Management Company, a non-profit 501(c)3 organization, supports 86 apartment buildings throughout the United States. AHEPA Management Company also provides management services for subsidized apartments with outside ownership.

For more information on AHEPA 63 Apartments, call 585-872-5980. For more information on AHEPA National Housing Corporation, visit www.ahepahousing.org, or call 317-845-3410.
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