The housing development — located on the property of the former Day-Mont Behavioral Health Care center — will be financed in part by $2.25 million in funding from the city of Dayton’s HOME Investment Partnership program. The rest will come from roughly $14 million in federal low-income housing tax credits, Ohio Housing Finance Agency permanent financing and other investments. GDPM also put forth $900,000 toward the project.
“[Dayton’s contribution] was a very important piece of leverage in getting the development up and going,” Heapy said.
Dayton’s commission approved the development agreement at their Wednesday meeting. The city’s contribution will cover the creation of 15 apartments, according to the commission.
In total, the project will create 13 one-bedroom, 26 two-bedroom and 11 three-bedroom apartments. There will also be a laundry facility, computer room, fitness area and kitchen on site.
Income restrictions for the apartments will range from 30-60% of area median income, according to GDPM.
Five of the 50 units will cater to the U.S. Department of Housing and Urban Development (HUD) Section 811 voucher program, which provides public assistance to people with disabilities.
Construction of the project is expected to wrap up in August 2024, with leasing to follow. GDPM will own and manage the property, Heapy said.
The projects’ apartments will house tenants at Desoto Bass Courts, with the project being a part of GDPM’s overall plan to redevelop housing there, Heapy said.
GDPM says it will tear down and redevelop all of the DeSoto Bass units when it can secure funding for new housing, but that could take five to seven years.
DeSoto Bass, located just 500 yards away from the Day-Mont site on Germantown Street in the Miami Chapel neighborhood, has 354 public housing units that GDPM hopes to demolish in phases.
The DeSoto Bass site accounts for about 40% of all housing units in the Miami Chapel neighborhood.
Demolition of the former Day-Mont Behavioral Health Care building wrapped up earlier this year.
“There’s a lot of excitement,” said Dayton Mayor Jeffrey J. Mims. “That space has been an eyesore for awhile and seeing that cleaned off and knowing what’s coming … we really appreciate it.”
Staff Writer Cornelius Frolik contributed to this report.
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