Nearly $3 million invested in central Toledo home ownership

Nearly $3 million invested in central Toledo home ownership

TOLEDO, OH (WTOL) - Two of Toledo's biggest companies want to help more people become homeowners.

ProMedica and Key Bank announced they are investing several million dollars to help revitalize central Toledo neighborhoods.

One of the central Toledo neighborhoods the initiative aims to improve is behind the Toledo Museum of Art off of Woodruff.

The other neighborhoods outlined at the meeting include several in Old West End Toledo, Old North Toledo and several houses in east Toledo.

The $2.65 million will be used to assist first-time home buyers, help current homeowners make improvements and encourage people who work downtown to live downtown.

"Inspiring people," said Randy Oostra, President & CEO ProMedica. "Making it available for people to live and work downtown no matter what their social economic condition is. So we want to make sure there's great housing, affordable housing, safe housing, neighborhoods where they can raise families. We need to do that."

Financial education will be a big part of this program.

"The financial opportunities centers that already exist in Toledo will be doing budgeting, counseling, and homeowner education for every perspective homeowner," said Jim Hoffman, President of Key Bank.

ProMedica and Key Bank have worked with local neighborhood organizations to identify which homes will be used in this program.

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