Huntington National Bank will extend its investment commitment to Ohio affordable housing by funding $150 million in new and refurbished rental-housing development statewide.
With its latest commitment, the bank will break a state record as it is slated to fund $250 million in housing opportunities between 2010 and 2015.
Huntington’s announcement, made Friday, will mean a targeted investment of $150 million, through 2015, that will generate about 2,000 new or refurbished affordable housing units for nearly 4,500 Ohio residents, according to a bank press release.
The bank has committed $480,000 locally to the Raymond John Wean Building in Warren.
Huntington’s recently completed $100 million investment program announced in summer 2010 supported more than 1,000 new or improved affordable housing units for 3,000 Ohio residents, and about 700 construction jobs.
A partnership with the Ohio Capital Corp. for Housing will provide equity investments through tax credits issued by the Ohio Housing Finance Agency.
A new element of the partnership will focus on leveraging a joint Huntington-OCCH investment of more than $1 million to provide physical recreational services to affordable housing- project residents, encouraging better health and wellness, bank officials said.