NRP Group Delivers Cleveland Affordable Property
The developer worked in partnership with University Hospitals.
The NRP Group has completed The Davis Apartments, a 52-unit affordable housing community in Cleveland. University Hospitals served as development partner for this project.
NRP broke ground on The Davis last year, financing its construction with a $9.5 million loan from RiverHills Bank, according to Yardi Matrix data. Other sources of financing included the Ohio Finance Housing Agency and PNC Bank.
Designed by RDL Architects, the community comprises one-, two- and three-bedroom floorplans, as well as four three-bedroom townhomes, all ranging from 568 to 1,686 square feet. All residences cater to individuals and families earning up to 60 percent of the area median income. Amenities include a fitness center, community room, playground, business center and laundry facility.
In addition, the property is home to University Hospitals’ Community Outreach Center. The 2,800-square-foot facility provides supportive services such as programs for pregnant women and young mothers, workforce and financial literacy training and healthy cooking demonstrations.
The Davis marks NRP Group’s third Health and Housing development. The first two are Residences at Career Gateway in Columbus, Ohio, which opened in 2018, and Via Sana in Cleveland, which was inaugurated last year.
Small addition to the affordable housing inventory
Located on 4.6 acres at 10527 Orville Ave., the community is in an Opportunity Zone within the Glenville neighborhood. The property is near Highway 6, roughly 5 miles from downtown Cleveland and less than 2 miles from the Cleveland Clinic Main Campus.
Currently, there are more than 34,500 fully affordable units in the Cleveland-Akron area, according to Yardi Matrix information. Another 456 units were under construction in the market as of November, representing 9.8 percent of the total pipeline.