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TWG Development, LLC

October.24.24

NATIONAL DEVELOPER TWG ANNOUNCES CLOSING ON AFFORDABLE HOUSING IN CLEVELAND HEIGHTS, OH WITH NEW $15M MULTIFAMILY COMMUNITY

Cleveland Heights (Oct. 24, 2024) – TWG (www.twgdev.com), a real estate development company specializing in commercial, market rate, affordable and senior housing developments, today announces closing of Nobility Court Apartments, an affordable housing development in Cleveland Heights.

Nobility Court will be located at 2228 Noble Road. The community will consist of 52 units and will feature one-, two-, and three-bedroom units. Nobility Court will serve families and individuals at 60% and 30% of the area median income (AMI).

The $15 million deal marks TWG's first 9% tax credit award in Cleveland Heights and sixth overall project in the state. Plans to begin construction on the community have already begun and are expected to be completed in Spring 2026. Once complete, this development will be energy star certified through the NGBS Silver 700 Program. All units will have washer and dryers. The first floor will have approximately 1000 sq. ft. of retail space. There will also be a community space and internet cafe for residents only. Outdoor amenities include an outdoor patio, community garden, and play space for children.

“TWG is thrilled about this project and recognizes this development is one of the more unique affordable housing builds based on its architecture and design. This development took a lot of work with people from the community that assisted in the design input and public approvals process. We are excited to see how our work can further develop Cleveland Heights by providing high-quality affordable housing options for surrounding low-income families,” said Alex Frazier, Development Director with TWG Development. “Continuing to deliver affordable housing remains our mission at TWG, and we remain committed to our communities.” The low-income housing tax credit (LIHTC) deal was due in large part to the key partners, such as Start Right Community Development Corporation, Paul Volpe of Volpe Design, Huntington Bank, Ohio Housing and Finance Agency, CRBT, and Bialosky Architecture.

"We believe this development is just the beginning. It represents the first step in the comprehensive redevelopment of the Noble NELA Business District.," said Rev. Dr. Jimmie Hicks, Jr. with Start Right Community Development Corporation. “Our goal is to work closely with the city’s planning dept. to craft a long-term vision that brings more vibrant commercial opportunities to the city’s north side.”

To learn more about TWG and its properties, please visit www.twgdev.com or follow them on LinkedIn, Facebook, Twitter and Instagram.

About TWG TWG is a real estate development company specializing in commercial, market rate, affordable and senior housing developments. TWG was formed in 2007 to develop, own and manage housing communities throughout the Midwest. Through its related entities, TWG Development, TWG Construction, and TWG Management, TWG is able to envision a development from concept to lease-up to stabilization. TWG has transacted over $1.3 billion in development costs and over 8,000 units developed across the country.