It is being called Sylvania Township's newest affordable housing community: The Residenz of Sylvania
The grand opening for the Residenz of Sylvania was held today on site at 3316 Percentum Rd. behind the Giant Eagle store. It was developed by Miller-Valentine Group and Preferred Properties Inc.
It is a 51-unit rental housing development which has garden-style apartment homes built for residents over the age of 55. Residents can use Low Income Housing Tax Credits.
Miller-Valentine partnered with Preferred Properties, Ohio Capital Corporation for Housing, KeyBank, Ohio Housing Finance Agency, and Sylvania Township, according to a Miller-Valentine. The Residenz was completed using the federally funded, state managed housing tax credit program.
The development created about 60 jobs and generated more than $4.5 million for the local economy, Miller-Valentine said