News Michaels Set to Modernize Cherrie...
Michaels Set To Modernize Cherrie Turner Apartments In Ohio

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The Michaels Organization, in partnership with the Stark Metropolitan Housing Authority’s nonprofit affiliate, Progressive Housing Solutions, is ready to begin a $15 million renovation of  Cherrie Turner Apartments public housing community, following a successful financial closing.  The community located just outside downtown Canton was built in the early 1970s and last updated in 2000.   

“Cherrie Turner Apartments has been an important housing resource for Canton’s seniors and families for decades, and we’re delighted to have this opportunity to not only modernize the building but also to preserve its affordability for the long-term,” shared Greg Olson, Regional Vice President of Development for The Michaels Organization. 

The eight-story building is located just northwest of downtown Canton, which offers a variety of dining, shopping, and entertainment options, in addition to being the home of the historic Canton Palace Theatre.

The elevator-serviced building itself comprises 134 apartment homes, 96 of which are one-bedrooms and 38 are studios, as well as large, first-floor amenity space. 

Renovations will include updates to the interiors including new paint, flooring, countertops, light fixtures, appliances, and the installation of a fitness room, in addition to significant upgrades to the building’s mechanical systems and roof improvements.  Parking lot improvements and CCTV upgrades are also planned.  

The redevelopment of Cherrie Turner will benefit from the U.S. Housing and Urban Development's Rental Assistance Demonstration programs (RAD), which allows public housing agencies to leverage public and private debt and equity in order to reinvest in the public housing stock. The program also ensures that the renovated units remain permanently affordable to low-income households while residents benefit from a right of return and relocation rights. 

Financing for the $15 million redevelopment will include equity from the sale of 9% Low Income Housing Tax Credits and 9% allocation of $1 million in federal tax credits. The Ohio Housing Finance Agency (OHFA), which allocates the credits, has also awarded an additional $100,000 in credits and $1.25 million in the form of a short-term low-interest loan.

Michaels Development and Stark Metropolitan Housing Authority are serving as co-development partners on Cherrie Turner’s rehabilitation, with Michaels Management serving as the property management company. Additional members of the development team include general contractor Tober Building Company and architect Urban Practice.

Construction for the redevelopment began in August and will be complete in Summer 2023. 

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