Cascade Village spans the banks of the Little Cuyahoga River along a curve in the scenic river valley. The new residential community is being constructed in three phases at an estimated total project cost approaching $60 million. A $19.25 million HOPE VI grant secured by AMHA in 2003 is the catalyst for the changes being made in the community. The new development will contain 242 rental and 27 homeownership units, improved natural and recreational amenities.

The first phase of the HOPE VI revitalization began last year with infrastructure improvements and the design of a model home/sales center. The second phase of the development will cluster new town homes, duplexes, and single-family residences along winding parkways on the north side of the river. The third phase will include additional residences south of the river and feature a village green, anchored by a new community center that will link the development on both sides of the river.

The new community is being constructed on approximately 36 acres located ½ mile north of downtown Akron, just west of the intersection of Howard and North Streets, Cascade Village is close to public transit and convenient to Akron’s major employers, hospitals, and civic attractions. Pedestrian paths lead to outdoor recreation, including access to the trailhead for the popular Ohio and Erie Canal Towpath Trail. Nearby schools include Findley Academy and Jennings Middle School (part of the Akron Public Schools) St. Anthony School, St. Vincent-St. Mary High School, and the University of Akron.

"The new housing development called Cascade Village North will be an integral part of the rebirth of this historic area." said Anthony O’Leary, Executive Director of AHMA. "The Akron Metropolitan Housing Authority is proud to have initiated such a significant community improvement."

Single family homes for-sale have a target sales price of $125,000. A buyer may choose from two story or ranch-style plans, and select from an array of options and upgrades to make their home all their own. Special below-market rate financing is available to all home buyers from National City Bank. Additional special financing is available to income-eligible buyers. A buyer may qualify for as much as $25,000 in a zero percent loan of HOPE VI funds that doesn’t need to be repaid for as long as the original owner lives in the home.

The rental units start at $550 (market rate) a month and consist of uniquely styled side-by-side duplexes and town homes, each with a private entrance. There are one, two, and three bedroom units suited for varying household needs, and rent tiers to fit a wide range of budgets, with rental subsidies available to qualified low income individuals and families.

"Akron is excited to add this new residential neighborhood to its community," said Don Plusquellic, mayor, City of Akron. " Akron remains today as it was nearly 200 years ago, a city of opportunities for people throughout northeast Ohio, but it is our residents who call Akron ‘home’ who give our city its unique and special quality, and Cascade Village will complement our ‘home’ atmosphere."

"We are honored to be a partner in the HOPE VI revitalization in Akron," said Patrick E. Clancy, president and CEO of TCB. "We have been energized by the residents themselves and are committed to reestablishing the area as a vibrant, active, diverse neighborhood for generations to come."

Community Builders is a leader in comprehensive neighborhood revitalization and is the largest non-profit, urban housing developer in America. Since 1964, TCB has completed more than 17,000 units of affordable, mixed-income housing. TCB manages over 7,000 units of housing serving low-income families, the elderly and special needs populations.

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