Marble Cliff Capital News
Closing Announcement: $50 million single-investor Low Income Housing Tax Credit Fund
PRESS RELEASE
Wednesday, April 5, 2023
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura Brian Graney
jkukura@marblecliffcapital.com bgraney@marblecliffcapital.com
Direct – (614) 333-9484 Direct – (614) 333-9460
Cell – (614) 353-5353 Cell – (440) 364-2158
Tim Condron
First Financial Bank
media@bankatfirst.com
Marble Cliff Capital Closes on Affordable Housing Investment Fund
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce that it has worked with Cincinnati-based First Financial Bank to close on a new $50 million Low Income Housing Tax Credit (LIHTC) equity investment fund .
This valued partnership will allow First Financial Bank to deploy Community Reinvestment Act (CRA) lending and investments strategically across its four-state banking footprint, with several LIHTC projects slated to close into the fund later this year.
"First Financial's mission is to be a positive influence to help our clients and communities thrive," said Roddell McCullough, chief corporate responsibility officer for First Financial Bank. "We are excited to provide an investment to this fund and look forward to helping improve the quality of life for so many through much-needed affordable lending options.”
This announcement also comes at a time when the affordable housing crisis in America remains dire. Last year, only 36 affordable and available rental home were available for every 100 extremely low-income renter households.
“First Financial’s commitment to affordable housing development could not have come at a more opportune time,” said Marble Cliff Capital President and Founder Jack Kukura. “Marble Cliff Capital’s investor base remains steadfast in its support of the LIHTC program and this $50 million commitment is a testament to that. The entire Marble Cliff Capital team is excited to get to work on this fund.”
Demand for affordable housing outpaces supply in every U.S. state. Marble Cliff Capital is committed to being a part of the solution by cultivating investor and developer relationships that lead to additional affordable housing in all communities.
Click here for the full press release.
Wednesday, April 5, 2023
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura Brian Graney
jkukura@marblecliffcapital.com bgraney@marblecliffcapital.com
Direct – (614) 333-9484 Direct – (614) 333-9460
Cell – (614) 353-5353 Cell – (440) 364-2158
Tim Condron
First Financial Bank
media@bankatfirst.com
Marble Cliff Capital Closes on Affordable Housing Investment Fund
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce that it has worked with Cincinnati-based First Financial Bank to close on a new $50 million Low Income Housing Tax Credit (LIHTC) equity investment fund .
This valued partnership will allow First Financial Bank to deploy Community Reinvestment Act (CRA) lending and investments strategically across its four-state banking footprint, with several LIHTC projects slated to close into the fund later this year.
"First Financial's mission is to be a positive influence to help our clients and communities thrive," said Roddell McCullough, chief corporate responsibility officer for First Financial Bank. "We are excited to provide an investment to this fund and look forward to helping improve the quality of life for so many through much-needed affordable lending options.”
This announcement also comes at a time when the affordable housing crisis in America remains dire. Last year, only 36 affordable and available rental home were available for every 100 extremely low-income renter households.
“First Financial’s commitment to affordable housing development could not have come at a more opportune time,” said Marble Cliff Capital President and Founder Jack Kukura. “Marble Cliff Capital’s investor base remains steadfast in its support of the LIHTC program and this $50 million commitment is a testament to that. The entire Marble Cliff Capital team is excited to get to work on this fund.”
Demand for affordable housing outpaces supply in every U.S. state. Marble Cliff Capital is committed to being a part of the solution by cultivating investor and developer relationships that lead to additional affordable housing in all communities.
Click here for the full press release.
Closing Announcement: Chapman Crossing, Corydon, Indiana
PRESS RELEASE
December 20, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Chapman Crossing, a 48-unit new construction, single-building, located in Corydon, Indiana. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Indiana Housing & Community Development Authority. Marble Cliff Capital was pleased to partner with Woda Cooper Development, Inc and Hamilton County Area Neighborhood Development, Inc. (HAND), along with Smith Solutions, Inc. serving as general contractor.
Total development cost for Chapman Crossing was over $13.5 million. Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 2. Other sources of financing include a construction loan from First Savings Bank, a permanent first mortgage from First Savings Bank, and permanent soft loans provided by the Indiana Housing & Community Development Authority, Erie Ohio Capital CDFI Fund, LLC.
The development will comprise 12 residential buildings, one community building on a 7.7‐acre site in Corydon, Indiana. The target population is general occupancy, with income and rent set asides at 30%, 50%, and 80% of median income, using the LIHTC Income Averaging set aside. The project is designed for tenant homeownership at the end of the LIHTC Compliance period. One of the funds equity investor, First Savings Bank, in conjunction with Marble Cliff Capital Communities, Inc., will set aside funds to provide down payment assistance for residents who want to purchase their townhomes at the end of the 15‐year initial compliance period. The property will consist of 4 two‐bedroom/one‐bath flats, 20 two‐bedroom/1.5‐bath townhome units, and 24 three‐ bedroom/two‐bath townhome units. Each unit will offer a modern, open floor plan with ceiling fans, central air conditioning, dishwasher, garbage disposal, microwave, pantry, range, refrigerator, washer/dryer hookups, front and rear entrances with covered porch and patio, and exterior storage. Common area amenities include a separate community building with an on‐site management office, maintenance room, laundry facility, community room with kitchen, lounge area, fitness center, covered patio, outdoor terrace, playground, BBQ/picnic areas, and free surface parking. Residents will be able to enjoy several community amenities, including free wi‐fi throughout, an E‐tablet Lending Program, and 10 free passes per year to the May and Joe Rhoads public swimming pool (adjacent to the site).
“The COVID-19 pandemic has underscored the importance of greater access to affordable housing in communities across the United States especially with our senior population on the verge of being homeless. Marble Cliff Capital is proud to be a part of the solution in Corydon, Indiana with our partners Woda Cooper Development, Inc and Church and HAND,” said Marble Cliff Capital President and Founder Jack Kukura.
Click here for the full press release.
December 20, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Chapman Crossing, a 48-unit new construction, single-building, located in Corydon, Indiana. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Indiana Housing & Community Development Authority. Marble Cliff Capital was pleased to partner with Woda Cooper Development, Inc and Hamilton County Area Neighborhood Development, Inc. (HAND), along with Smith Solutions, Inc. serving as general contractor.
Total development cost for Chapman Crossing was over $13.5 million. Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 2. Other sources of financing include a construction loan from First Savings Bank, a permanent first mortgage from First Savings Bank, and permanent soft loans provided by the Indiana Housing & Community Development Authority, Erie Ohio Capital CDFI Fund, LLC.
The development will comprise 12 residential buildings, one community building on a 7.7‐acre site in Corydon, Indiana. The target population is general occupancy, with income and rent set asides at 30%, 50%, and 80% of median income, using the LIHTC Income Averaging set aside. The project is designed for tenant homeownership at the end of the LIHTC Compliance period. One of the funds equity investor, First Savings Bank, in conjunction with Marble Cliff Capital Communities, Inc., will set aside funds to provide down payment assistance for residents who want to purchase their townhomes at the end of the 15‐year initial compliance period. The property will consist of 4 two‐bedroom/one‐bath flats, 20 two‐bedroom/1.5‐bath townhome units, and 24 three‐ bedroom/two‐bath townhome units. Each unit will offer a modern, open floor plan with ceiling fans, central air conditioning, dishwasher, garbage disposal, microwave, pantry, range, refrigerator, washer/dryer hookups, front and rear entrances with covered porch and patio, and exterior storage. Common area amenities include a separate community building with an on‐site management office, maintenance room, laundry facility, community room with kitchen, lounge area, fitness center, covered patio, outdoor terrace, playground, BBQ/picnic areas, and free surface parking. Residents will be able to enjoy several community amenities, including free wi‐fi throughout, an E‐tablet Lending Program, and 10 free passes per year to the May and Joe Rhoads public swimming pool (adjacent to the site).
“The COVID-19 pandemic has underscored the importance of greater access to affordable housing in communities across the United States especially with our senior population on the verge of being homeless. Marble Cliff Capital is proud to be a part of the solution in Corydon, Indiana with our partners Woda Cooper Development, Inc and Church and HAND,” said Marble Cliff Capital President and Founder Jack Kukura.
Click here for the full press release.
Closing Announcement: Columbus Renaissance, Columbus, Ohio
PRESS RELEASE
December 15, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333‐9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Columbus Renaissance, a 46‐unit new construction, single‐building, located in Columbus, Ohio. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Ohio Housing Finance Agency. Marble Cliff Capital was pleased to partner with Woda Cooper Development, Inc and Church and Community Development for all People, along with Woda Construction, Inc. serving as general contractor.
Total development cost for Columbus Renaissance was over $13.5 million. Marble Cliff Capital syndicated the federal Low‐Income Housing Tax Credits through MCC Community Equity Fund 2. Other sources of financing include a construction loan from S&T Bank, a permanent first mortgage from CF Bank, and permanent soft loans provided by the Affordable Housing Trust Fund of Columbus and Franklin County, Marble Cliff Capital Communities, the City of Columbus and Franklin County.
Columbus Renaissance is the new construction of 46 family LIHTC apartments to be constructed on a 2.77‐acre parcel located at 33 West Morrill Avenue, in the Merion Village neighborhood of Columbus, Franklin County, Ohio. The property will appeal to a variety of household sizes, offering 12 one‐bedroom/one‐bath, 28 two‐bedroom/one‐bath and six (6) three‐bedroom/two‐bath units.
The property is designed to be accessible to those with disabilities. The site will contain a single, three‐story building with common corridor and elevator. A playground, picnic area, and paved parking lot with 69 spaces will be connected to the building by an accessible route. The property will be LEED‐certified with low‐flow water fixtures and Energy Star appliances, including dishwasher, garbage disposal, microwave, refrigerator, and stove. Units will have ceiling fans in
living rooms and bedrooms, a wall‐mounted intercom, and washer/dryer hookups. Each unit will have electric split system HVAC and electric water heater. Co‐developer and co‐GP, Church and Community Development for All People
(CD4AP) will provide supportive services.
Click here for the full press release.
December 15, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333‐9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Columbus Renaissance, a 46‐unit new construction, single‐building, located in Columbus, Ohio. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Ohio Housing Finance Agency. Marble Cliff Capital was pleased to partner with Woda Cooper Development, Inc and Church and Community Development for all People, along with Woda Construction, Inc. serving as general contractor.
Total development cost for Columbus Renaissance was over $13.5 million. Marble Cliff Capital syndicated the federal Low‐Income Housing Tax Credits through MCC Community Equity Fund 2. Other sources of financing include a construction loan from S&T Bank, a permanent first mortgage from CF Bank, and permanent soft loans provided by the Affordable Housing Trust Fund of Columbus and Franklin County, Marble Cliff Capital Communities, the City of Columbus and Franklin County.
Columbus Renaissance is the new construction of 46 family LIHTC apartments to be constructed on a 2.77‐acre parcel located at 33 West Morrill Avenue, in the Merion Village neighborhood of Columbus, Franklin County, Ohio. The property will appeal to a variety of household sizes, offering 12 one‐bedroom/one‐bath, 28 two‐bedroom/one‐bath and six (6) three‐bedroom/two‐bath units.
The property is designed to be accessible to those with disabilities. The site will contain a single, three‐story building with common corridor and elevator. A playground, picnic area, and paved parking lot with 69 spaces will be connected to the building by an accessible route. The property will be LEED‐certified with low‐flow water fixtures and Energy Star appliances, including dishwasher, garbage disposal, microwave, refrigerator, and stove. Units will have ceiling fans in
living rooms and bedrooms, a wall‐mounted intercom, and washer/dryer hookups. Each unit will have electric split system HVAC and electric water heater. Co‐developer and co‐GP, Church and Community Development for All People
(CD4AP) will provide supportive services.
Click here for the full press release.
Closing Announcement: Johnston Crossing II, Johnston, Iowa
(Photo is Johnston Crossing I)
PRESS RELEASE
December 12, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
JKukura@MarbleCliffCapital.com
(614) 333‐9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Johnston Crossing II – a 50‐unit new construction affordable housing project located in Johnston, Iowa. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Iowa Finance Authority.
Marble Cliff Capital syndicated the federal Low‐Income Housing Tax Credits. Johnston Crossing II is the proposed new construction of a well‐appointed, energy‐efficient senior (55+) apartment property located at 5509 NW Johnston Drive in the southeastern portion of the City of Johnston, County of Polk, State of Iowa. This location is 6.0 miles northwest of downtown Des Moines, Iowa.
Johnston Crossing II is the second phase of the Johnston Crossing development. It is adjacent to the single‐building, 50‐unit, Johnston Crossing I senior apartment development. The two properties will effectively function as one single apartment complex with a common access point from NW Johnston Drive. The second phase of the Johnston Crossing development will comprise a single, four‐story, 50‐unit elevator building situated on a well‐landscaped, 1.84‐acre parcel. It will offer 18 one‐bedroom/one‐bath and 32 two‐bedroom/one‐bath units.
Site and unit amenities are appropriate for the market and will be well‐received. Johnston II will offer secure intercom access from a locked vestibule entrance; the owner will provide a video security system that covers the exterior of the building, including parking areas, as well as interior stairwells, elevators, halls, and non‐tenant spaces. Common area amenities will include a community room with kitchen that opens to an outdoor patio; lockable storage units; an elevator; offices for site staff and maintenance; and bike racks. The apartments will be well‐appointed, with two ceiling fans per unit, a dishwasher, electric range, garbage disposal, microwave, refrigerator, and washer and dryer.
Click here for the full press release.
December 12, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
JKukura@MarbleCliffCapital.com
(614) 333‐9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Johnston Crossing II – a 50‐unit new construction affordable housing project located in Johnston, Iowa. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Iowa Finance Authority.
Marble Cliff Capital syndicated the federal Low‐Income Housing Tax Credits. Johnston Crossing II is the proposed new construction of a well‐appointed, energy‐efficient senior (55+) apartment property located at 5509 NW Johnston Drive in the southeastern portion of the City of Johnston, County of Polk, State of Iowa. This location is 6.0 miles northwest of downtown Des Moines, Iowa.
Johnston Crossing II is the second phase of the Johnston Crossing development. It is adjacent to the single‐building, 50‐unit, Johnston Crossing I senior apartment development. The two properties will effectively function as one single apartment complex with a common access point from NW Johnston Drive. The second phase of the Johnston Crossing development will comprise a single, four‐story, 50‐unit elevator building situated on a well‐landscaped, 1.84‐acre parcel. It will offer 18 one‐bedroom/one‐bath and 32 two‐bedroom/one‐bath units.
Site and unit amenities are appropriate for the market and will be well‐received. Johnston II will offer secure intercom access from a locked vestibule entrance; the owner will provide a video security system that covers the exterior of the building, including parking areas, as well as interior stairwells, elevators, halls, and non‐tenant spaces. Common area amenities will include a community room with kitchen that opens to an outdoor patio; lockable storage units; an elevator; offices for site staff and maintenance; and bike racks. The apartments will be well‐appointed, with two ceiling fans per unit, a dishwasher, electric range, garbage disposal, microwave, refrigerator, and washer and dryer.
Click here for the full press release.
Closing Announcement: Logan Village, Logan, Ohio
PRESS RELEASE
September 28, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
JKukura@MarbleCliffCapital.com
614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Logan Village – a 48-unit rehab affordable housing project located in Logan, Ohio. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Ohio Housing Finance Agency.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits. Logan Village Apartments is the rehab of a 48-unit, family property located at 1810 Linton Road in Logan, Hocking County, Ohio.
The property's 9.15-acre site offers eight two-story residential buildings, one single-story leasing office-community building, and on-site surface parking for 108 cars. There are 38 two-bedroom/one-bath and ten three-bedroom/1.5 bath apartments, all of which will be set aside for families at 50% and 60% of AMI rent and income limits. All of the apartments benefit from HUD-provided project-based rent subsidy provided through a Housing Assistance Payment (HAP) contract. This rent subsidy allows residents to pay 30% of household income toward rent, with the remainder paid by the subsidy.
The property will include enhanced accessible and adaptable features, on-site management, a community activity room, a common-area laundry, walking trails, a basketball court, and a newly renovated playground. Apartments have front and rear entrances with rear concrete patios. Units have large windows, and each apartment has an enclosed storage area next to its patio. The property has central air conditioning and gas heat and hot water.
Click here for the full press release.
September 28, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
JKukura@MarbleCliffCapital.com
614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Logan Village – a 48-unit rehab affordable housing project located in Logan, Ohio. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Ohio Housing Finance Agency.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits. Logan Village Apartments is the rehab of a 48-unit, family property located at 1810 Linton Road in Logan, Hocking County, Ohio.
The property's 9.15-acre site offers eight two-story residential buildings, one single-story leasing office-community building, and on-site surface parking for 108 cars. There are 38 two-bedroom/one-bath and ten three-bedroom/1.5 bath apartments, all of which will be set aside for families at 50% and 60% of AMI rent and income limits. All of the apartments benefit from HUD-provided project-based rent subsidy provided through a Housing Assistance Payment (HAP) contract. This rent subsidy allows residents to pay 30% of household income toward rent, with the remainder paid by the subsidy.
The property will include enhanced accessible and adaptable features, on-site management, a community activity room, a common-area laundry, walking trails, a basketball court, and a newly renovated playground. Apartments have front and rear entrances with rear concrete patios. Units have large windows, and each apartment has an enclosed storage area next to its patio. The property has central air conditioning and gas heat and hot water.
Click here for the full press release.
Closing Announcement: McKinley Manor, Columbus, Ohio
PRESS RELEASE
August 26, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of McKinley Manor – a 44-unit new construction, single-building, permanent supportive housing development for seniors 55 and over located in Columbus, Ohio. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Ohio Housing Finance Agency. Marble Cliff Capital was pleased to partner with the Columbus Metropolitan Housing Authority on this development.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 2. Other sources of financing included a construction loan from Park National Bank, a permanent first mortgage and a permanent soft loan provided by the Affordable Housing Trust Fund of Columbus and Franklin County, a permanent soft loan from Marble Cliff Capital Communities, a permanent soft loan from the Ohio Housing Finance Agency, a grant from the City of Columbus and a grant from Franklin County.
All units will be set aside to serve people with serious mental illness or co-occurring mental illness and substance abuse who are homeless or at-risk of homelessness or institutionalization. Columbus Metropolitan Housing Authority will offer supportive services with funding through the Community Shelter Board and will contract with LifeCare Alliance to administer the services needed for the population. All units will be subsidized by a project-based Housing Assistance Payment (HAP) contract that will allow residents to pay 30% of household income for rent, and the HAP will pay the balance. The Community Shelter Board will oversee the relocation of the 44 residents from the old YMCA building to McKinley Manor, which will provide support services, management offices, community rooms and a health and wellness clinic.
Click here for the full press release.
August 26, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of McKinley Manor – a 44-unit new construction, single-building, permanent supportive housing development for seniors 55 and over located in Columbus, Ohio. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Ohio Housing Finance Agency. Marble Cliff Capital was pleased to partner with the Columbus Metropolitan Housing Authority on this development.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 2. Other sources of financing included a construction loan from Park National Bank, a permanent first mortgage and a permanent soft loan provided by the Affordable Housing Trust Fund of Columbus and Franklin County, a permanent soft loan from Marble Cliff Capital Communities, a permanent soft loan from the Ohio Housing Finance Agency, a grant from the City of Columbus and a grant from Franklin County.
All units will be set aside to serve people with serious mental illness or co-occurring mental illness and substance abuse who are homeless or at-risk of homelessness or institutionalization. Columbus Metropolitan Housing Authority will offer supportive services with funding through the Community Shelter Board and will contract with LifeCare Alliance to administer the services needed for the population. All units will be subsidized by a project-based Housing Assistance Payment (HAP) contract that will allow residents to pay 30% of household income for rent, and the HAP will pay the balance. The Community Shelter Board will oversee the relocation of the 44 residents from the old YMCA building to McKinley Manor, which will provide support services, management offices, community rooms and a health and wellness clinic.
Click here for the full press release.
Closing Announcement: Claremore Flats, Claremore, Oklahoma
PRESS RELEASE
June 9, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Claremore Flats – a 72-unit new construction affordable housing project located in Claremore, Oklahoma. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) and State of Oklahoma Low Income Housing Tax Credits from the Oklahoma Housing Finance Agency.
Marble Cliff Capital syndicated both the federal Low-Income Housing Tax Credits and the state Low Income Housing Tax Credits through a proprietary fund. The apartments that will be constructed will be in three 3-story walk-up buildings on a 6.97-acre parcel. The property will be appealing to a
variety of household sizes, offering 36 two bedroom / one-bath and 36 three-bedroom / two-bath general occupancy units. The development will also have a 2,361 square foot community building that will offer a lobby, a common room, a fitness center, handicap accessible restrooms, and a maintenance room. The Community building will also do double-duty as a storm shelter.
The site will be attractive, with excellent curb appeal and significant green space with on-site surface parking for 147 cars, which exceeds the minimum requirement of two spaces per unit. The property is all-electric. Tenants pay electricity and the owner provides water, sewer, and trash removal. Units will be energy-efficient, with low-flow water fixtures and Energy Star appliances, including ceiling fans in living rooms and bedrooms, dishwasher, garbage disposal, refrigerator, stove, and washer and dryer in all units.
Click here for the full press release.
June 9, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Claremore Flats – a 72-unit new construction affordable housing project located in Claremore, Oklahoma. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) and State of Oklahoma Low Income Housing Tax Credits from the Oklahoma Housing Finance Agency.
Marble Cliff Capital syndicated both the federal Low-Income Housing Tax Credits and the state Low Income Housing Tax Credits through a proprietary fund. The apartments that will be constructed will be in three 3-story walk-up buildings on a 6.97-acre parcel. The property will be appealing to a
variety of household sizes, offering 36 two bedroom / one-bath and 36 three-bedroom / two-bath general occupancy units. The development will also have a 2,361 square foot community building that will offer a lobby, a common room, a fitness center, handicap accessible restrooms, and a maintenance room. The Community building will also do double-duty as a storm shelter.
The site will be attractive, with excellent curb appeal and significant green space with on-site surface parking for 147 cars, which exceeds the minimum requirement of two spaces per unit. The property is all-electric. Tenants pay electricity and the owner provides water, sewer, and trash removal. Units will be energy-efficient, with low-flow water fixtures and Energy Star appliances, including ceiling fans in living rooms and bedrooms, dishwasher, garbage disposal, refrigerator, stove, and washer and dryer in all units.
Click here for the full press release.
Closing Announcement: Maplewood Apartments II, McCook, Nebraska
PRESS RELEASE
May 2, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Maplewood Apartments II– a 24- unit rehab affordable housing project located in McCook, Nebraska. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) and State of Nebraska Low
Income Housing Tax Credits from the Nebraska Investment Finance Authority.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Nebraska Fund 1. Maplewood Apartments II, LLC project is located at 1400 West H Street, McCook, Red Willow County, Nebraska, and consists of the acquisition and rehabilitation of the24-unit existing LIHTC
development.
The property was originally constructed in 1997 and comprises six buildings containing 16 two-bedroom / one-bath units and 8 three-bedroom / one-bath units, all with one-car attached garages. The project is restricted to senior households 55 and older and units are set aside at 40%, 50%, and 60% of AMI rent and income limits. The unit types, with two- and three-bedrooms, attached garages, and individual exterior entrances, will appeal to working senior households as well as to retirees. In addition, the ability to serve residents across a wide span of incomes allows both working and retired seniors to income-qualify.
Click here for the full press release.
May 2, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Maplewood Apartments II– a 24- unit rehab affordable housing project located in McCook, Nebraska. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) and State of Nebraska Low
Income Housing Tax Credits from the Nebraska Investment Finance Authority.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Nebraska Fund 1. Maplewood Apartments II, LLC project is located at 1400 West H Street, McCook, Red Willow County, Nebraska, and consists of the acquisition and rehabilitation of the24-unit existing LIHTC
development.
The property was originally constructed in 1997 and comprises six buildings containing 16 two-bedroom / one-bath units and 8 three-bedroom / one-bath units, all with one-car attached garages. The project is restricted to senior households 55 and older and units are set aside at 40%, 50%, and 60% of AMI rent and income limits. The unit types, with two- and three-bedrooms, attached garages, and individual exterior entrances, will appeal to working senior households as well as to retirees. In addition, the ability to serve residents across a wide span of incomes allows both working and retired seniors to income-qualify.
Click here for the full press release.
Closing Announcement: Woodward Way, East Lansing , Michigan
PRESS RELEASE
January 14, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Woodward Way – a 49-unit new construction affordable housing project located in East Lansing, Michigan. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Michigan State Housing Development Authority.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 1. The 4.37‐ acre site will be well‐landscaped, with excellent curb appeal. The property will be attractive to a variety of household sizes, offering eight (8) one‐bedroom/one‐bath, 36 two‐bedroom/1.5‐bath, and five (5) three‐bedroom/two‐bath units. The development will offer a variety of flat and townhome‐units that will be constructed in two, two‐story walk‐up buildings.
Site amenities include a community room with kitchen, a common area‐laundry, offices for site staff, a patio/picnic area, a playground, 25 bicycle parking spaces, and on‐site surface parking for 98 cars (two spaces per unit). The property will be energy‐efficient and is expected to qualify for LEED Silver. Units will have low‐flow water fixtures and Energy Star appliances, including ceiling fans in living room and bedrooms, dishwasher, garbage disposal, microwave, refrigerator, and stove. All units will have a laundry closet with washer/dryer hookups. All units will have central air conditioning, individual electric water heaters, and gas furnaces. Water and sewer is sub metered. Tenants pay all utilities except for trash removal, which is provided by the owner.
Click here for the full press release.
January 14, 2022
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Woodward Way – a 49-unit new construction affordable housing project located in East Lansing, Michigan. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Michigan State Housing Development Authority.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 1. The 4.37‐ acre site will be well‐landscaped, with excellent curb appeal. The property will be attractive to a variety of household sizes, offering eight (8) one‐bedroom/one‐bath, 36 two‐bedroom/1.5‐bath, and five (5) three‐bedroom/two‐bath units. The development will offer a variety of flat and townhome‐units that will be constructed in two, two‐story walk‐up buildings.
Site amenities include a community room with kitchen, a common area‐laundry, offices for site staff, a patio/picnic area, a playground, 25 bicycle parking spaces, and on‐site surface parking for 98 cars (two spaces per unit). The property will be energy‐efficient and is expected to qualify for LEED Silver. Units will have low‐flow water fixtures and Energy Star appliances, including ceiling fans in living room and bedrooms, dishwasher, garbage disposal, microwave, refrigerator, and stove. All units will have a laundry closet with washer/dryer hookups. All units will have central air conditioning, individual electric water heaters, and gas furnaces. Water and sewer is sub metered. Tenants pay all utilities except for trash removal, which is provided by the owner.
Click here for the full press release.
Closing Announcement: Ruth Park, Traverse City, Michigan
PRESS RELEASE
December 29, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Ruth Park– a 58-unit new construction affordable housing project located in Traverse City, Michigan. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Michigan State Housing Development Authority.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits through MCC Community Equity Fund 1. Future residents will enjoy well-appointed 1, 2 and 3 bedroom units located in downtown Traverse City by Lake Boardman. The building is within in walking distance from Lake Boardman and the local public library. The building will offer secure, intercom access with more than 13,000 square feet of community space. The first floor will contain two secure entry vestibules (front and back), an elevator, a management office, a community room with kitchen, a patio, two common area restrooms, a mail area, and a lobby; the second floor will provide an exercise room and storage area; the third floor will have a common laundry and storage area; and the fourth floor will have another community room with kitchen, an outdoor terrace with views of the river, two common area restrooms, and a maintenance office and storage area. The property is designed to be accessible to those with disabilities. All 58 units will have visitability design features, and six units will be barrier free or fully adaptable to barrier free standards.
Click here for the full press release.
December 29, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Ruth Park– a 58-unit new construction affordable housing project located in Traverse City, Michigan. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Michigan State Housing Development Authority.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits through MCC Community Equity Fund 1. Future residents will enjoy well-appointed 1, 2 and 3 bedroom units located in downtown Traverse City by Lake Boardman. The building is within in walking distance from Lake Boardman and the local public library. The building will offer secure, intercom access with more than 13,000 square feet of community space. The first floor will contain two secure entry vestibules (front and back), an elevator, a management office, a community room with kitchen, a patio, two common area restrooms, a mail area, and a lobby; the second floor will provide an exercise room and storage area; the third floor will have a common laundry and storage area; and the fourth floor will have another community room with kitchen, an outdoor terrace with views of the river, two common area restrooms, and a maintenance office and storage area. The property is designed to be accessible to those with disabilities. All 58 units will have visitability design features, and six units will be barrier free or fully adaptable to barrier free standards.
Click here for the full press release.
Closing Announcement: Havens Crossing, Walton, Kentucky
PRESS RELEASE
December 21, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Havens Crossing – a 57-unit new construction affordable housing project located in Walton, Kentucky. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Kentucky Housing Corporation.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 1. The site is approximately 22 miles south of downtown Cincinnati, Ohio and 63 miles north of Lexington, Kentucky.
The development will consist of 1- and 2-bedroom units in a three‐story, elevator building. Unit amenities include washer/dryer hook‐ups, microwave, dishwasher, garbage disposal, stove, and refrigerator. All appliances will be Energy Star rated. Each unit will include its own central heating and cooling system, energy efficient windows, and additional insulation. Six units will be accessible to mobility impaired households and two units will be constructed for visually or hearing-impaired households.
The development will offer a variety of senior‐oriented amenities including a bocce court, a community room with kitchen, a common area laundry, a computer room, a craft room, a fitness room, a gazebo, a picnic area, a covered outdoor patio, outdoor community garden plots, offices for site staff and maintenance, and on‐site surface parking for 118 cars, which exceeds the local zoning requirement. The property is all‐electric and water and sewer is sub metered. Tenants pay all utilities except for trash removal, which is provided by the owner. All units have a help/call system.
Click here for the full press release.
December 21, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Havens Crossing – a 57-unit new construction affordable housing project located in Walton, Kentucky. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Kentucky Housing Corporation.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 1. The site is approximately 22 miles south of downtown Cincinnati, Ohio and 63 miles north of Lexington, Kentucky.
The development will consist of 1- and 2-bedroom units in a three‐story, elevator building. Unit amenities include washer/dryer hook‐ups, microwave, dishwasher, garbage disposal, stove, and refrigerator. All appliances will be Energy Star rated. Each unit will include its own central heating and cooling system, energy efficient windows, and additional insulation. Six units will be accessible to mobility impaired households and two units will be constructed for visually or hearing-impaired households.
The development will offer a variety of senior‐oriented amenities including a bocce court, a community room with kitchen, a common area laundry, a computer room, a craft room, a fitness room, a gazebo, a picnic area, a covered outdoor patio, outdoor community garden plots, offices for site staff and maintenance, and on‐site surface parking for 118 cars, which exceeds the local zoning requirement. The property is all‐electric and water and sewer is sub metered. Tenants pay all utilities except for trash removal, which is provided by the owner. All units have a help/call system.
Click here for the full press release.
Addition to our Team!
PRESS RELEASE
November 22, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC (MCC) is pleased to announce the hiring of Cameron Stanley as a Development Analyst. Cameron was hired to assist in underwriting LIHTC transactions for MCC’s tax credit investment portfolio and to assist in tax credit investment closings.
“We are very fortunate and excited to have Cameron as part of our team at Marble Cliff Capital. Cameron brings a wealth of overall knowledge to MCC including technical computer skills and a financial and accounting background,” said Marble Cliff Capital President and Founder Jack Kukura.
Cameron was most recently with the Central Ohio Urology Group in their accounting department. Prior to joining Central Ohio Urology Group, Cameron spent 9 years with Cameron Mitchel Organizations including a spending some time in the accounting department.
Click here for the full press release.
November 22, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC (MCC) is pleased to announce the hiring of Cameron Stanley as a Development Analyst. Cameron was hired to assist in underwriting LIHTC transactions for MCC’s tax credit investment portfolio and to assist in tax credit investment closings.
“We are very fortunate and excited to have Cameron as part of our team at Marble Cliff Capital. Cameron brings a wealth of overall knowledge to MCC including technical computer skills and a financial and accounting background,” said Marble Cliff Capital President and Founder Jack Kukura.
Cameron was most recently with the Central Ohio Urology Group in their accounting department. Prior to joining Central Ohio Urology Group, Cameron spent 9 years with Cameron Mitchel Organizations including a spending some time in the accounting department.
Click here for the full press release.
Closing Announcement: Stockton Greene, Charleston, West Virginia
PRESS RELEASE
October 14, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Stockton Greene – a 43-unit new construction affordable housing project located in Charleston, West Virginia. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Kentucky Housing Corporation.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 1. The building will be situated on a 1.33‐acre parcel located at 1625 Seventh Avenue, in the City of Charleston, Kanawha County, West Virginia. The property will offer 13 one‐bedroom/one‐bath and 30 two‐bedroom/one‐bath apartments. Eleven units will be set aside at or below 50%, and 32 units will be set aside at or below the 60% AMI rent and income limits.
The project will be financed using hard debt provided by WVHDF and soft debt provided by CDBG‐DR funds, along with Tax Exempt Bonds and related 4% Federal LIHTCs. It will offer a community room with kitchen, a computer room, an elevator, an exercise area, two common area restrooms, offices for site staff and maintenance, a playroom area, and a hallway trash chute on each floor. The building will offer secure access with a locked vestibule entrance and intercom. Individual units will be accessed from interior hallways.
The property will be energy‐efficient and low utility costs will be beneficial to residents and project operations. Each unit will provide Energy Star appliances including in‐unit washer and dryer, range, refrigerator, garbage disposal, dishwasher, and LED lighting fixtures and ceiling fans. Interior storage units will be available at no charge to residents.
Click here for the full press release.
October 14, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 333-9528
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Stockton Greene – a 43-unit new construction affordable housing project located in Charleston, West Virginia. This project was financed with 4% Low Income Housing Tax Credits (“LIHTCs”) from the Kentucky Housing Corporation.
Marble Cliff Capital syndicated the federal Low-Income Housing Tax Credits through MCC Community Equity Fund 1. The building will be situated on a 1.33‐acre parcel located at 1625 Seventh Avenue, in the City of Charleston, Kanawha County, West Virginia. The property will offer 13 one‐bedroom/one‐bath and 30 two‐bedroom/one‐bath apartments. Eleven units will be set aside at or below 50%, and 32 units will be set aside at or below the 60% AMI rent and income limits.
The project will be financed using hard debt provided by WVHDF and soft debt provided by CDBG‐DR funds, along with Tax Exempt Bonds and related 4% Federal LIHTCs. It will offer a community room with kitchen, a computer room, an elevator, an exercise area, two common area restrooms, offices for site staff and maintenance, a playroom area, and a hallway trash chute on each floor. The building will offer secure access with a locked vestibule entrance and intercom. Individual units will be accessed from interior hallways.
The property will be energy‐efficient and low utility costs will be beneficial to residents and project operations. Each unit will provide Energy Star appliances including in‐unit washer and dryer, range, refrigerator, garbage disposal, dishwasher, and LED lighting fixtures and ceiling fans. Interior storage units will be available at no charge to residents.
Click here for the full press release.
Closing Announcement: Johnston Crossing, Johnston Iowa
PRESS RELEASE
July 14, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Johnston Crossing – a 50-unit new construction affordable housing project located in Johnston, Iowa. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Iowa Finance Authority.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits through MCC Community Equity Fund 1. Future senior residents will enjoy well-appointed 1 and 2 bedroom units located just 6 miles north of downtown Des Moines. The building will offer secure intercom access from a locked vestibule entrance; a video security system covering the outside, including parking areas, and all levels of stairways, elevators, halls, and non-tenant spaces will be provided. Individual units are accessed from interior hallways, which improves energy efficiency, lowers heating costs, and makes the property more desirable to its senior-resident target market. Common area amenities will include a community room with kitchen; centrally-located, lockable storage units; an elevator; offices for site staff and maintenance; and bike racks.
Click here for the full press release.
July 14, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Johnston Crossing – a 50-unit new construction affordable housing project located in Johnston, Iowa. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Iowa Finance Authority.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits through MCC Community Equity Fund 1. Future senior residents will enjoy well-appointed 1 and 2 bedroom units located just 6 miles north of downtown Des Moines. The building will offer secure intercom access from a locked vestibule entrance; a video security system covering the outside, including parking areas, and all levels of stairways, elevators, halls, and non-tenant spaces will be provided. Individual units are accessed from interior hallways, which improves energy efficiency, lowers heating costs, and makes the property more desirable to its senior-resident target market. Common area amenities will include a community room with kitchen; centrally-located, lockable storage units; an elevator; offices for site staff and maintenance; and bike racks.
Click here for the full press release.
Closing Announcement: The Moreland House, Cleveland, Ohio
PRESS RELEASE
July 9, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of The Moreland House. Originally constructed in 1923 in the renowned Shaker Square neighborhood of Cleveland, this project will create 23 units of multifamily housing in a walkable area with convenient access to public transit. Congratulations to the entire development team including
Marble Cliff Capital syndicated the federal historic housing tax credits in a single investor tax credit equity fund with CFBank, N.A., and the state historic tax credits with a private investor. Development partner Rakefet Landes will rehab the building consisting of a variety of household sizes, offering nine studio/one-bath, nine one-bedroom/one-bath, and five two-bedroom/one-bath general occupancy units in a single four-story walk-up building. At least 40% of the 23 units will be dedicated to low-income households at no more than 60% of Area Median Gross Income (“AMGI”) and eight units will be floating HOME units, one at 50% of AMI and seven at 80% of AMI.
Click here for the full press release.
July 9, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of The Moreland House. Originally constructed in 1923 in the renowned Shaker Square neighborhood of Cleveland, this project will create 23 units of multifamily housing in a walkable area with convenient access to public transit. Congratulations to the entire development team including
Marble Cliff Capital syndicated the federal historic housing tax credits in a single investor tax credit equity fund with CFBank, N.A., and the state historic tax credits with a private investor. Development partner Rakefet Landes will rehab the building consisting of a variety of household sizes, offering nine studio/one-bath, nine one-bedroom/one-bath, and five two-bedroom/one-bath general occupancy units in a single four-story walk-up building. At least 40% of the 23 units will be dedicated to low-income households at no more than 60% of Area Median Gross Income (“AMGI”) and eight units will be floating HOME units, one at 50% of AMI and seven at 80% of AMI.
Click here for the full press release.
MCC Inaugural multi-investor fund closes at $53.5 million!!
PRESS RELEASE
June 17, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC announced the closing of Marble Cliff Capital Community Equity Fund 1 L.P. (“Fund 1”) – a $53.5 million multi-investor Low Income Housing Tax Credit (“LIHTC”) equity investment fund that will facilitate 419 units of affordable housing across five different states in seven tax credit multifamily housing projects.
In partnership with ten institutional investors, Marble Cliff Capital was able to close its inaugural multi-investor tax credit fund within its first year of operations despite the
unique challenges posed by the COVID-19 pandemic and its rippling effects on the LIHTC equity market.
Click here for full press release
Closing Announcement: Summer Tree Terrace, Jeffersonville, Ohio
PRESS RELEASE
May 28, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Summer Tree Terrace – a 24-unit rehabilitation of a U.S. Department of Agriculture (“USDA”) – Rural Development (“RD”) subsidized affordable housing project located in Jeffersonville, Ohio. This re-syndication of Summer Tree Terrace with 4% Low Income Housing Tax Credits (“LIHTCs”) will ensure the preservation of critical subsidized housing for years to come in the rural community of Jeffersonville.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits in a single investor tax credit equity fund with CFBank, N.A., and development partner Woda Cooper Communities. Summer Tree Terrace consists of 24 two-bedroom units. The rehabilitation’s scope of work includes energy efficient upgrades throughout the units, new roofing, new flooring, replacement of cabinetry, site lighting, and handicap accessibility upgrades.
Click here for full press release
Closing Announcement: Allegany Junction: Cumberland, Maryland
PRESS RELEASE
April 5, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Alleghany Junction – a 40-unit new construction affordable housing project in Cumberland, Maryland. This investment in the Cumberland community will provide families with critical affordable housing as the effects of the global COVID-19 pandemic persist.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits with construction lender First United Bank & Trust and development partner Woda Cooper Communities. Once completed, Alleghany Junction will consist of 34 two-bedroom units and 6 three-bedroom units for families with six units dedicated to individuals with disabilities.
Click here for full press release
April 5, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Alleghany Junction – a 40-unit new construction affordable housing project in Cumberland, Maryland. This investment in the Cumberland community will provide families with critical affordable housing as the effects of the global COVID-19 pandemic persist.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits with construction lender First United Bank & Trust and development partner Woda Cooper Communities. Once completed, Alleghany Junction will consist of 34 two-bedroom units and 6 three-bedroom units for families with six units dedicated to individuals with disabilities.
Click here for full press release