February 26, 2013
PDT Staff Writer
The Scioto Valley Garden Apartments located at 1420 16th Street in Portsmouth will soon be undergoing renovations, according a letter to the Scioto County Commissioners from MV Residential Development LLC of Cincinnati.
“The purpose of this letter is to apprise your office (commissioners) that the Portsmouth Metropolitan Housing Authority will be the majority members of a residential rental development. (The) plans (are) to utilize the multifamily funding programs of the Ohio Housing Finance Agency (OHFA) for the development of this property,” said Brian McGeady, Director of Multifamily Housing in the letter.
According McGeady, Scioto Valley Garden Apartments involves acquisition and rehabilitation of up to 101 units, targeted to low-to-moderate income families.
“The project consists of four residential buildings. The buildings are two and one-half story buildings containing a mix of one, two and three-bedroom units as well as community amenities. Scioto Valley Garden Apartments feature 47 one-bedroom units with 587 net square feet of living space with one-bathroom, 42 two-bedroom units with 703 net square feet of living space with one-bathroom, and 12 three-bedroom units with 970 net square feet of living space and one-bathroom,” McGeady states. “After rehabilitation, all units will contain more modern floor plans, energy efficiency and other enterprise green communities features.”
According to the letter, other services that will be provided to the residents of Scioto Valley Garden Apartments include family supportive services including, credit counseling/personal finance training, continuing education/job training and referrals, life skills training, daycare and after-school programs among others.
McGeady said that according to the primary market area for Scioto Valley Garden Apartments, 3,744 families would be eligible to live in this development.
According to the letter the time line moving forward is, “construction cycle beginning in April 2014 and ending in April 2015. The lease-up period will be within 10 to 12 months from completion with an estimated 95 percent stabilized occupancy rate.”
Wayne Allen may be reached at 740-353-3101, ext. 228, or email@example.com.