Nelson & Associates, Inc. dba 1481 Wabash, LLC submitted an application for housing credits from the Ohio Housing Finance Agency (OHFA) to acquire and rehab Oak Park Apartments, a HUD Section 8 / 236 property managed by Nelson for over 25 years. Nelson was awarded $8,567,850 in housing credits for this project. It closed in February 2013.
Oak Park Apartments is a rehab of a 71 unit project that consists of (2) 3-story townhouse buildings and (5) 2.5 –story garden style walk-up buildings. The buildings and the units are being rehabbed throughout with the grounds, landscaping and parking areas receiving substantial upgrades. The scope of work is comprehensive and includes the construction of a new community building with computer room, laundry room, maintenance shop and site office.