Media Contact: Amina Hall

Herman L. Hill Akron Metropolitan Housing Authority (AMHA) ahall@akronhousing.org | (330) 376-9037

FOR IMMEDIATE RELEASE

Akron, Ohio — [1.29.26] — The Akron Metropolitan Housing Authority (AMHA) today announced it is pursuing legal action against The Community Builders related to Cascade Village Apartments, a nearly 20-year-old HOPE VI redevelopment formerly known as Elizabeth Park, to address ongoing mismanagement of the property and to hold the owner financially accountable for conditions that threaten resident stability and affordable housing.

Cascade Village is a 242-unit mixed-income housing community developed as part of the federal HOPE VI program to replace distressed public housing with quality housing and to stabilize the surrounding neighborhood. The Community Builders (TCB) owns and manages Cascade Village Apartments, while AMHA owns the underlying land and serves as the public housing authority. AMHA and TCB are not, and have never been, partners. Ownership, management, and operational control of the property rest solely with TCB. As the property has aged, it has experienced increasing financial and physical challenges.

Over the past several months, AMHA engaged in extensive, good-faith discussions with TCB solely out of concern for residents, after TCB stated it intended to exit the property and raised the possibility of bankruptcy. AMHA has no ownership interest in the property and no contractual or legal obligation to assume ownership.

“AMHA is a mission-driven organization, and our first responsibility is always to the residents we serve,” said Herman L. Hill, Executive Director of AMHA. “We stepped into these discussions because we were deeply concerned about the impact an abrupt exit or bankruptcy could have on families who call Cascade Village home—not because we were required or obligated to take on this property.”

Independent valuation and financial analysis confirmed that Cascade Village would require an estimated $30 million in total capital investment, with an estimated financing gap of $7–$10 million, in addition to significant operational remediation, to remain viable. Despite months of negotiations, multiple drafts of proposed terms, and AMHA’s efforts to explore alternative solutions, including attempts to engage lenders directly—the transaction remained financially unsustainable for a public housing authority.

“Simply put, the numbers do not work,” Hill said. “As a public housing authority, we cannot and will not commit scarce public dollars to a transaction that would undermine our long-term ability to serve Akron residents and the broader community.”

During this period, AMHA became aware of complaints from residents regarding subpar property management and declining conditions at the property. Last week, TCB issued notice terminating the property management agreement—an action taken unilaterally by TCB, which continues to own and manage the property.

AMHA has rejected claims that it acted unreasonably, was uncooperative, or attempted to force TCB out of the property.

“Those assertions are inaccurate,” Hill said. “TCB made the decision to exit. AMHA negotiated in good faith for months, clearly communicated our limits, and consistently centered resident stability and accountability. We will not allow our mission or our residents to be used as leverage to offload an unsustainable situation.”

AMHA issued a notice of default under the ground lease and initiated legal action, represented by Roetzel & Andress, to address unresolved contractual issues and protect residents and public interests.

“Litigation is never our preferred path,” Hill added. “But when resident well-being, public accountability, and the integrity of affordable housing are at risk, we have an obligation to act. This is about people over profit—always.”

AMHA remains committed to working with community partners, local leaders, and residents to minimize disruption and ensure that any future outcome prioritizes housing stability and affordability.

“We are Akron for Akron,” Hill said. “And we will always do what is right for the people we serve.”