TOLEDO, OH (Toledo News Now) - While so much attention has been placed on tearing down vacant, eyesore homes in Toledo over recent years, Neighborhood Housing Services is launching a $9.4 million development plan, to build 40 new single family homes in Central Toledo.
"It's all private financing that was driven by the sale of a housing tax credit issued by the Ohio Housing Finance Agency," says NHS Executive Director Bill Farnsel.
The homes will be energy efficient and kind to the environment.
"Everything from the foundation to the rooftop is made from recycled material. It has 40 percent recycled content."
The housing development is being advocated and supported by the St. V's Cherry Street Legacy Project.
"This is a partnership with the hospital. We want to create a community so people can live in neighborhoods and walk to work," says Karen Rogalski with the legacy project.
Rhonda Cole lives on Melrose Avenue, right across the street from where some new homes are planned:
"All these vacant lots bring the property value down. We take pride in our neighborhood, pride in our house."
The homes will be rental units for the first 15 years, and Farnsel says the plan will include an eye on long term maintenance:
"These properties will not be boarded and vacant because the proper reserve accounts will be set up so the finances are there if anything happens to the property, we can put it back into shape."
Construction is scheduled to start in January.