Future Housing Projects
University Tower Apartments
Constructed in 1922 as the Sovereign Hotel, University Tower Apartments is a historic nine-story landmark that provides 158 units of affordable housing for low-income seniors and disabled residents. University Towers is located at 1575 East Boulevard in Cleveland's Glenville neighborhood; its location near the University Circle cultural district and historic Rockefeller Park make it an ideal place to call home.
Doan Classroom Apartments
Originally constructed in 1904 and expanded in 1906 and 1950, Doan School, located at 1350 East 105th Street, is national landmark that fell victim to the national foreclosure epidemic. The original structure was designed by Frank Barnum, a prominent Cleveland architect who designed many early twentieth-century public schools. In 1985 the building was converted to 45 units of low-income senior housing; in 2008 it became vacant and boarded.
In June of 2012 Famicos completed the $8 million renovation of Doan Classroom Apartments with low-interest deferred Neighborhood Stabilization Program loans provided by the City of Cleveland, Cuyahoga County and the Ohio Housing Finance Agency. In addition, Famicos was able to add tax credit equity, provided by the Ohio Capital Corporation for Housing, through the syndication of federal Historic Tax Credits as well as Low Income Housing Tax Credits.
In addition to historic preservation, the Doan project demonstrates that rehabilitating old buildings can meet green building principles. "The Doan project demonstrates exceedingly well that historic rehabilitation is really about recycling an entire building and therefore is truly green construction," said Paul Volpe, President, City Architecture.
Upon completion of Doan Classroom Apartments construction has begun on University Tower Apartments and is scheduled to be completed in June of 2013..