Pennrose, CMHA Complete $115M Sankofa Village Phase IV, Delivering 50 Affordable Apartments in Cleveland

Pennrose Properties, the Cuyahoga Metropolitan Housing Authority (CMHA), and the City of Cleveland have marked the completion of the Cedar Extension Transformation Plan with the grand opening of Sankofa Village Phase IV, a 50-unit affordable housing development in Cleveland's Central neighborhood. The final phase brings the multi-phase initiative to a close at 236 total units and $115 million in total project cost.

The grand opening drew a broad coalition of public officials, nonprofit leaders, and development partners, underscoring the public-private structure that has defined the decade-long project. Speakers included Cleveland Mayor Justin M. Bibb, Cuyahoga County Executive Chris Ronayne, CMHA CEO Jeffery K. Patterson, Cleveland City Council President Blaine A. Griffin, Councilman Richard A. Starr, and Pennrose Director of Development Geoffrey Milz, among others.

Phase IV: Unit Mix, Affordability, and Amenities

Sankofa Village Phase IV adds one-, two-, and three-bedroom units offered in a mix of townhouse and stacked flat-style apartments available at 30% to 60% of the Area Median Income (AMI), translating to roughly $20,900 to $41,760 annually for a one-person household. The units feature modern kitchens with Energy Star appliances, open floor plans, individually controlled heating and cooling systems, high-quality fixtures and finishes, and spacious closets.

Residents of Phase IV will have access to the full suite of Sankofa Village community amenities, including a playground, fitness center, computer lab, shared laundry facilities, and a community center with a TV lounge, game room, and entertainment kitchen. The development was designed to meet Enterprise Green Communities standards and LEED Neighborhood Development guidelines.

The site is located across the street from Cuyahoga Community College Metro Campus and within a mile of Cleveland State University, St. Vincent Charity Hospital, and Progressive Field, with convenient access to public transportation and downtown Cleveland.

A Decade-Long Transformation Plan

The Cedar Extension Transformation Plan traces its origins to a $300,000 Choice Neighborhoods Planning Grant awarded by the U.S. Department of Housing and Urban Development (HUD) in 2011, followed by extensive community engagement and public input. The initiative replaced Cedar Estates — a 17-acre "superblock" of 1950s barracks-style public housing — with 236 mixed-income apartments, 6,000 square feet of commercial space, interconnected green space, an improved street network, on-site supportive services, and robust community amenities.

"The opening of the final phase of Sankofa Village is a powerful reminder of what resident-guided community change looks like, of what strong partnerships can achieve over the course of a decade, and of what can be accomplished through persistence and shared vision," said Jeffery K. Patterson, CEO of CMHA. "Each home represents a foundation for future families within a community gaining momentum to grow alongside the city. Through continued collaboration, CMHA will build on this progress to advance a vision that meets the evolving needs of this community."

"Today marks more than the completion of a development; it's a fulfillment of a promise to Cleveland families. Sankofa Village IV represents what's possible when strong public-private partnerships come together to deliver on high-quality, affordable housing," said Mayor Justin M. Bibb. "With this final phase, we're not just adding homes, we're investing in stability and opportunity for our residents."

City Council President Blaine A. Griffin noted the cultural significance of the project's name. "Sankofa is a Ghanaian Akan word representing the need to reflect on the past to build a successful future. Sankofa Village is just that — the transformation of the former Cedar Estates into a community around which we will build the future of the Central neighborhood," Griffin said.

Financing Structure

Financing for Phase IV was assembled through a layered capital stack. Sources include Enterprise 4% Low-Income Housing Tax Credits (LIHTC), Ohio Housing Finance Agency (OHFA) HOME-ARP funds, Freddie Mac funds sourced through Lument, a construction loan from Citizens Bank, and capital contributions from CMHA's nonprofit development affiliate Western Reserve Revitalization and Management Company, as well as the Pennrose-Falbo joint venture.

"Today marks a notable milestone for Cleveland, CMHA, and all the community partners, residents, and neighborhood stakeholders that brought the shared vision for Sankofa Village to reality," said Geoff Milz, regional vice president at Pennrose. "The Transformation Plan represents how innovative, ambitious housing solutions can truly transform neighborhoods, improve quality of life, and spur community reinvestment."

Councilmember Richard A. Starr described the project as a model for neighborhood revitalization. "Sankofa Village is more than a housing development; it is a model for how we rebuild neighborhoods the right way. By combining affordable housing, thoughtful design, and community-focused investment, we are creating a stronger, more equitable future for Cleveland families," Starr said.

Pennrose's Broader Ohio Activity

Pennrose, which served as co-developer alongside Falbo Group, LLC, is also currently redeveloping the historic Warner & Swasey site in Cleveland's MidTown neighborhood into a mixed-income, mixed-use housing community, following the closing of a financing gap for that project in 2025.

Additional participants in the grand opening included Joseph Hauge, Senior Director at Lument; Grant Miller, Legislative Liaison at the Ohio Housing Finance Agency; Ayonna Blue Donald, VP of Ohio Market at Enterprise Community Partners; Timothy B. Smith, VP and Relationship Manager at Citizens Bank; Michael A. Baston, President of Cuyahoga Community College; Felton Thomas, Jr., Executive Director and CEO of Cleveland Public Library; Renee Tramble Richard, Board Chair of Care Alliance; Michael Goar, President and CEO of Sisters of Charity; Jerry Valco, CEO of Ohio Educational Credit Union; Lillian Davis, President of Progressive Action Council; Stephanie Pope Earley, Chairwoman of the CMHA Board of Commissioners; Delores Gray, a Sankofa resident; and Timothy I. Henkel, CEO and Principal of Pennrose.

The completion of Sankofa Village Phase IV marks the conclusion of the Cedar Extension Transformation Plan, with the full 236-unit development now operational on the former Cedar Estates site.