New fund aims to boost housing
HEATH − The Licking County Foundation and numerous collaborators announced a new investment fund to boost affordable housing options in Licking County, starting with the Wal- lick Communities development at the planned Central Park mixed-use development in Heath.
The announcement came Thursday at Davis-Shai House, but the idea originated a few years ago with the Licking County Foundation, which provided $300,000 in seed money to get the initiative started.
“We banked funds knowing that housing is a very complex challenge for our community and new housing would be an initiative that we would take on,” said Connie Hawk, who retired as the Licking County Foundation director but continues as its part-time strategic initiatives director.
“We needed others to come alongside us to assist and help. That’s where this collaboration came about."
Mike Schmidt, who became Licking County Foundation president in October, said: “This initiative had been long underway in its development. There had been a lot of work by the team and Connie’s innovative approach. I got to come in and sign papers and make it official. I was absolutely blown away by the creativity and the foundation’s philosophy of partnership.”
The collaborators are many. The foundation’s Governing Committee created the Licking County Housing Initiatives Fund and formed the Licking County Housing Investment Fund, which includes the Evans Foundation, Heath-Newark-Licking County Port Authority, LeFevre Foundation, Licking County Foundation, Lick- ing Memorial Health Foundation and Mauger Charitable Trust Strategic Projects Fund.
The investors and other supporters provided $2.1 million, which the Franklin County-based Affordable Housing Trust will use to provide loans for projects that aim to keep rental and mortgage costs low.
Steve Gladman, interim president and CEO of Affordable Housing Trust, said although it is based in Franklin County, the investors can direct the money to Licking County, if that’s what they want.
“They can specify certain uses,” Gladman said. “If you’re an investor, you can specify if you want all money in Licking County or partial in Licking County, you can specify that.” Loan applications will be made to the AFT loan committee.
Wallick Communities will develop the easternmost part of the proposed 320-acre Central Park mixed-use development northwest of Walmart and the Davis- Shai House. The Wallick development will consist of four, four- story mixed-use buildings along an extended Central Parkway near the entrance to the $218 million development.
Michael DiCarlantoria, vice president of development for Wallick Communities, said the loan not only helped it acquire the 49 acres at the site, but limits the surprises as the company plans for the development.
“It allows us to have more stability and look at a deal one day and know it’s not going to change dramatically as we put the pieces together,” DiCarlantoria said.
The Wallick Communities development will include 424 housing units in the first phase, land designated for another 400 units and an assisted living facility. The affordable housing units will be on the upper three floors of buildings with retail on the first floor.
“Sometimes people hear the words ‘affordable housing’ and it strikes fear in them for whatever those rea- sons might be,” Heath Mayor Mark Johns said. “Affordable housing is defined as 30% of one’s income being spent on expenses for housing.
“We all have different amounts that define affordable housing for us. It doesn’t particularly mean on segment of the economic range of our population.”
The mayor said the apartments will provide housing for residents working in a wide range of occupations. “This housing is where our nurses … are going to b able to live,” Johns said. “Our teachers, our firefighters ourpolice officers, people you want in your community because they are people who will stay invested in you community.”
Jennifer Roberts, the Evans Foundation executive director, said Licking County averaged 686 housing permits per year from 1990 to 2021 but just 284 permit per year from 2011 to 2021. She said 82% of Licking County housing units are single-family homes or duplexes, and the county has more mobile homes than apartments.
Steve Layman, a developer and real estate agent who recently developed two new housing subdivision in Newark, said there is one solution to the tight housing market.
“The only way to help with this problem is to build more,” Layman said. “To lessen the affordability problem we need to work on the supply side. This initiative puts money out there to help developers develop an builders build.”
kmallett@newarkadvocate.com
740-973-4539
Twitter: @kmallett1958
