Fourmidable Secures Management Deals for Ohio Communities
The company will run several Section 8, tax credit and public housing communities throughout the state. The properties total 395 units.
By D.C. Stribling, Contributing Editor
Fourmidable, a specialist in managing affordable, public housing, senior, tax credit and condo and other multifamily communities, has been designated as manager for several Section 8, tax credit and public housing communities in Ohio. The properties total 395 units.
The designation represents an expansion for the company into Ohio. With the new properties, Bingham Farms, Mich.-based Fourmidable now manages 88 communities in 13 states, totaling more than 9,600 units.
Two communities are in Youngstown. They are Arlington Heights I, a 46-unit family development consisting of one-, two- and three-bedroom units, and Arlington Heights II, comprised of 29 single-family, three-bedroom rental homes in various locations.
Elsewhere in Ohio are Fairborn Apartments, a 177-unit apartment property consisting of two-bedroom apartments in Fairborn; Pendleton Apartments, a 78-unit community consisting of one- to four-bedroom apartments in Cincinnati; and Oakwood Apartments, a 65-unit community consisting of three- and four-bedroom apartments in Milford.
“We currently manage the Miami Hills community in South Bend, Ind., for the ownership group that owns these Ohio communities,” said Michael Schocker, Fourmidable president. “The owners are committed to the improvement of the Ohio properties.”
The Youngstown deal represents a new partnership for Fourmidable with the Youngstown Metropolitan Housing Authority, according to Schocker. “The communities have dual- layered programs and are subject to public housing and low-income housing tax credit requirements.”