For-rent affordable home projects in Northern Michigan, Columbus, Detroit, Cincinnati, and Cleveland, which is said to be a transitional home for homeless veterans, is funded by Federal Home Loan Bank of Cincinnati and Huntington Bank. About 290 affordable home units will be developed in about 5 affordable home projects for the veterans. In Iowa, City council members are putting together a housing model to determine where and how an affordable housing project, which is funded by the city, can be built.
The council is implementing hard-and-fast policy in approving the affordable housing project’s location in the city.
Huntington Bank received about $3 million from FHLB Cincinnati to support the operation and construction costs worth $5 million for the affordable housing projects, which is said to break ground this year.
The total cost for the 5 affordable home projects, according to a press release, is $11 million. The remaining balance is going to be shouldered by the U.S. Department of Veterans Affairs.
The CEO and president of Huntington, Steve Steinour said, the American veterans contributed a lot for the country, and the company wants to support them by helping to complete a quality and affordable home projects.
The 5 affordable home projects include the St. Clair Veterans Housing in Cleveland, Columbus Veterans Transitional Housing Project in Columbus, Veterans Housing Program in Detroit, Goodwill Transitional Housing Community in Gaylord, Michigan, and the Veteran Center in Cincinnati.
Besides the affordable home projects, Huntington Bank also donated $3+ million for a housing project for the disabled and homeless veterans in Livingston Columbus.