Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Mcgregor Landing Cra topic
No spam. Unsubscribe anytime.
McGregor Landing senior housing wins committee approval for CRA abatement; project to use LIHTC financing
Summary
CHN Housing Partners and McGregor Foundation presented a planned 115‑unit affordable senior housing complex at 730 Midway Boulevard and requested a 75% CRA tax abatement for 15 years; the Community Development Committee and Finance committee recommended legislation with an emergency clause to support the project.
The Community Development Committee on June 8 recommended legislation for a Community Reinvestment Area (CRA) tax abatement to support McGregor Landing, a proposed 115‑unit affordable senior housing development at 730 Midway Boulevard.
Anne Khan, president and CEO of the McGregor Foundation, and Kimberly Hurt of CHN Housing Partners described the project as a roughly $26 million private investment financed primarily with 4% low‑income housing tax credits and associated bond financing. Kimberly Hurt said the LIHTC structure would limit units to 60 percent of area median income (60% AMI), keeping rents below market. “Rents on this are roughly $1,100,” Hurt said; the partners said project‑based vouchers were not part of the capital stack but accepted Section 8 tenant‑based vouchers where applicable.
Officials said the project is projected to close financing Aug. 1 and carry a 16‑month construction schedule, with an estimated opening in early 2028 if timelines hold. The applicant said development would create roughly 176 temporary construction jobs and four permanent positions.
Committee action: The committee approved preparing ordinance language authorizing a CRA tax abatement agreement with McGregor Landing LP and requested an emergency clause so financing and state timelines could be met. The item also passed the joint finance committee vote.
City context and questions: Council members asked whether required funding was in place and what public obligations — such as road improvements — might be tied to the project. Staff replied that the capital stack primarily relies on the LIHTC structure and bonds; other smaller federal awards were described as supplemental and not necessary to proceed.
Why it matters: The proposal would add a sizeable amount of income‑restricted senior housing in Elyria at 60% AMI, increasing affordable options for older adults in the city but leaving some affordability gaps for very low‑income seniors who rely on project‑based subsidies.
Provenance: Based on the presentation by McGregor Foundation and CHN Housing Partners and the committee votes recorded on June 8, 2026.
