housing

City of Tiffin releases results of housing study

Report finds market for up to 450 new housing units in area

TIFFIN, OHIO – June 25, 2019 – In order to determine the kind of housing needed and attract developers to the area, the City of Tiffin has released the results of a months-long housing study. The report, “Tiffin Housing Opportunities Analysis,” is based on analyses of the housing market within the Tiffin market, area demographics, and a survey to existing and potential residents. Housing site opportunities also were identified through multiple field trips to the Tiffin area to review sites and interview local stakeholders.

The study was conducted by Dublin, Ohio-based DiSalvo Development Advisors (DDA), funded by the City of Tiffin and managed by Tiffin-Seneca Economic Partnership. It is DDA’s opinion that in the next three years a market exists for 330 to 450 new housing units in the Tiffin area. Eight potential development site examples were identified.

According to DDA, the Tiffin market represents one of the most underserved housing markets in Northwest Ohio. The lack of rental and for-sale housing development has resulted in an extreme shortage of housing that prevents prospective homeowners and renters from moving into the area. Growth in the labor pool and spending power for the local businesses is constrained without available housing. Among 18 rental properties surveyed, only two units were vacant. At the time of this writing, there were just 30 homes listed for sale (above $50,000) that were not pending, and no condominiums were listed for sale.

Also as part of the study, an online housing survey was responded to by 600 people in March and April 2019. Of the 600 respondents, 496 (82.7 percent) indicated that they or a family member work in Tiffin. Eight out of 10 respondents indicated parkland was the most important amenity proximate to a residence for owners and renters. Proximity to retail and workplace were the second and third most important amenities.

The survey also showed that eight of every 10 respondents indicated they were very or extremely familiar

with the business offerings in downtown Tiffin. Respondents were asked to choose their top three businesses/venues they would like to see, which were a bakery, indoor farmer’s market and a family recreation venue (e.g. arcade, bowling, movies, etc.). It is important to note that the desire by the

respondents for certain business types in the downtown does not indicate that the market will support such businesses.

Tiffin Mayor Aaron Montz commented: “The results of this survey are clear – there is a need for new housing development in the City of Tiffin. With so many great things happening in our community, this need must be addressed if we want to see continued growth.”

To view the report, visit tiffinseneca.org and search for “Tiffin housing study” or click here.

About the Tiffin-Seneca Economic Partnership

Started in 1983 as the Seneca Industrial and Economic Development Corp. (SIEDC), the Tiffin-Seneca Economic Partnership is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at http://www.tiffinseneca.com.

Potential riverfront development recommended to Tiffin City Council

Transformational residential and hotel project eyed for downtown Tiffin

Riverfront Development (2).jpg

Ed Hernando addresses Tiffin City Council.

TIFFIN, OHIO – August 16, 2018 – Tiffin City Council’s Committee of the Whole approved sending to the next full Council meeting a purchase agreement for two of the City’s downtown parking lots along the Sandusky River. The sites would be acquired by Tiffin River Front Development LLC in order to build both a creative loft living complex and a full-service hotel/condominium facility. If the sale is approved, the development company plans to enter the full due diligence and design phase, aiming to finalize the project details by sometime in 2019.

Florida-based developer and entrepreneur Ed Hernando is a Heidelberg University graduate, former captain of the football team, and current member of Heidelberg’s business school advisory board. He has been working with the city and economic development officials on the project concept since early 2017. He cited the city’s prudent planning in the purchase of the Stalsworth and Livery property in 2013 and the 2016 Downtown Strategic Growth & Development Plan among several reasons to invest in Tiffin. “It is evident that Tiffin is a community investing in itself and its future, and I want to support its growth and development with this large-scale project,” he said.

Tiffin Mayor Aaron Montz said that Tiffin is open and prepared for this kind of development. “The Tiffin Riverfront Development will be a transformational project in the heart of downtown Tiffin building upon the already strong momentum the community has experienced over the past several years,” he stated. “It will provide unique housing and lodging for new and current residents while serving as a catalyst for additional investment in the future. This further builds on other major transformational projects in the downtown like the Frost-Kalnow Amphitheater on the East Green, future splash pad, and newly renovated lofts and storefronts.”

Moving the project forward is contingent upon significant further due diligence and market validation, but the current plan, based on research to date, contains the “Creative Lofts” and “Downtown Residences and Hotel” projects.

The Creative Lofts will be located on City Lot 6 across the river from Kiwanis Manor and will offer affordable lofts geared toward young professionals and graduates from the local communities, encouraging young people to stay in Tiffin post-graduation to live, work, launch businesses, and make Tiffin their home. It is estimated that the Creative Lofts will have 85 units, which is subject to change based on entitlement, building restrictions, and market conditions.

The Downtown Residences & Hotel will be located on City Lot 4 on the site of the former Stalsworth Hotel and Livery and provide the ultimate in elegance and spa living for condominium owners and a boutique hotel experience for guests. The project includes a restaurant lobby and bar, conference space for events, banquets and weddings, as well as a rooftop bar and restaurant. It is estimated that the Downtown Residences & Hotel will have 50 full-service hotel rooms, 45 condominium residences, and four to five penthouse units. This is also subject to change, based on the previously mentioned factors.

The purchase agreement will be put forth in a city ordinance, to be presented at the first of three readings by Tiffin City Council in a regular meeting Monday, Aug. 20.

About SIEDC
Started in 1983, the Seneca Industrial and Economic Development Corp. (SIEDC) is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at www.senecasuccess.com.

 

Housing project receives Tiffin’s first ever Historic Tax Credit

20161220_125951The Tunison Flats housing project, located at 105-107 Frost Parkway, was awarded an Ohio Historic Preservation Tax Credit by the Ohio Development Services Agency. The project, a total investment of $620,902, will receive a $99,031 tax credit.

More information from the ODSA news release:

Today, the Ohio Development Services Agency awarded $22.8 million in Ohio Historic Preservation Tax Credits to 18 applicants planning to rehabilitate 33 historic buildings. Together, the projects are expected to bring approximately $225.6 million in private investment in 12 communities.

“A community’s historic buildings make it unique,” said David Goodman, director of the Ohio Development Services Agency. “Giving a building new life honors the history of the building, while creating construction jobs in the short term and opportunity for economic activity into the future.”

The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. The renovated buildings drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.

The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.

The Tunison Flats project is the first to be awarded state tax credits in Tiffin. Constructed as a duplex in the late 1880s, this building was later converted into four apartments. This project will rehabilitate the brick building into three apartments while preserving the original staircases, fireplace mantels, wood trim, and windows.