New Trotwood development to offer affordable housing for seniors – Dayton Daily News

TROTWOOD — A planned senior living development here is tentatively set to be completed in the spring of 2023.

The proposed Trotwood Senior Lofts will be located at 702 E. Main St. and will contain 50 units. The project, headed by Miami Valley Affordable Housing Partners LLC, aims to appeal to seniors who are 55 years of age and older, and will rent to those with Area Medium Income (AMI) as low as 30%.

Trotwood City Council approved a Community Reinvestment Area program tax abatement application for the project during its meeting on Monday, granting a 75% real property tax abatement for a period of 15 years. The total cost of the project is around $10.7 million, according to Chad Downing, Trotwood Community Improvement Corporation (TCIC) executive director.

“Construction costs and labor costs are so high, we want to be able to deliver a high-quality project at an affordable rate, especially for our seniors who want to move out of the homes they’re in and maybe find more of a sense of community,” Downing said.

Brian McGeady, president of MVAH Holding LLC and managing partner of MVAH Partners LLC, said in a project description, as part of the tax abatement application, that the development’s aim is to cater to a vulnerable population.

“There are a significant number of seniors in the surrounding area who lack quality, affordable housing,” McGeady said. “The nearest affordable development is over three miles away and has a significant waitlist. This project will rent to those with AMIs as low as 30%, allowing the lowest income, and most vulnerable to homelessness, to have access to quality, affordable housing.”

The project will contain one- and two-bedroom units and will feature on-site management, a community room with a kitchenette, computer area, fitness room, picnic shelter, and community gardens. Free supportive services, such as 24/7 on-call care, a community geriatric nurse, case management, financial support services, and a senior nutrition program will be provided by residents through New Lima Housing for the Future and the Senior Resource Connection.

Many of the units will rent at a cost significantly below the Low-Income Housing Tax Credit program max, McGeady said in the application, with the average monthly rent being less than $670 per month.

“These rents are unsustainable long-term without a tax abatement,” McGeady said, noting that the tax abatement will allow for significantly lowered operating expenses.

This is one of several recent new developments coming to Trotwood, including a new Goodwill Easterseals facility, YMCA, library, and courthouse.

“This development would not only meet the city of Trotwood’s goals of creating a new downtown area, but it will also bring much-needed senior housing to one of Montgomery County’s most populated and least affordably-housed communities,” McGeady said.

The project will create between 100 and 150 temporary construction jobs throughout the entire construction period of at least 12 months. Additionally, two permanent, part-time jobs will be created once the project is completed, including an on-site manager and a maintenance supervisor.

Construction is set to begin in January.