Columbus, Ohio-based Huntington Bank announced it is has allocated $150 million to the Ohio Capital Corporation for Housing (OCCH) for the creation of affordable housing options for low- to moderate-income Ohio residents.
This new allocation is Huntington's third investment commitment in the OCCH in seven years, with previous announcements of $100 million in 2010-2012, $150 million in 2013-2015 and $113 million in 2016. The bank estimated that this new financial commitment will generate approximately 3,700 new or refurbished affordable housing units and support 2,800 construction jobs.
“When we learned that affordable housing development was stalling because of potential changes to the Federal tax code, we immediately responded,” said Steve Steinour, Huntington's chairman, president and CEO. “We believe it is vital to continuously support adequate housing for those who require it most. Ohio has been our home for the past 151 years and we remain committed to investing in neighborhoods and affordable housing to help people lead better lives. We hope our new commitment will help accelerate the rate of investment by others in partnership with OCCH to keep Ohio affordable housing starts and refurbishment projects on track.”