Northwest and LMHA Working Together For Downtown Lorain

Northwest Bank and Lorain Metropolitan Housing Authority Announce Anticipated Acquisition of Office Building, Ensures Commitment to Lorain Community

Lorain, Ohio – Northwest Bank and the Lorain Metropolitan Housing Authority (LMHA) today announced an anticipated agreement for the acquisition of Northwest’s current office building located at 457 Broadway Avenue in Lorain, OH. The office building transfer to LMHA reflects a strategic decision aimed at fostering community development while ensuring continuity in retail and business banking services for community residents.

Under the proposed agreement, LMHA will acquire Northwest’s prominent office building, securing pivotal space in the heart of downtown Lorian. With this transfer of ownership, Northwest will maintain its presence within the building, transitioning into a tenant while continuing to offer seamless banking solutions to its customers.

"This exciting new partnership with Lorain Metropolitan Housing Authority aligns with our shared vision of building stronger, more vibrant communities," said Julie Hughes, Northwest Bank Ohio Region President. "We have been operating a branch in a facility that was originally designed to hold an entire bank and found ourselves simply underutilizing the space available in the building. LMHA is the perfect partner for us and allows us to put the building in the hands of an organization that will make full use of the facility while serving the evolving needs of our neighbors.”

LMHA employs over 100 employees, most of whom will be relocated from 1600 Kansas Avenue to the new Broadway headquarters. The purchase is currently pending approval from the United States Department of Housing and Urban Development (HUD).

“We are incredibly excited about this opportunity to be an economic driver for downtown Lorain, and to be more accessible to the people we serve,” said Judy Carlin, LMHA’s Chief Executive Officer. “The property offers so many opportunities not only for our administrative operations, but also potential small business incubator spaces and a new training center.”

The transition of ownership is expected to be seamless between Northwest and LMHA as both entities plan to provide uninterrupted client services. Further details and updates will be shared as the transaction progresses.

About Lorain Metropolitan Housing Authority

LMHA was established in 1931 to provide decent, safe, and affordable housing throughout Lorain County. Today, it operates over 1,600 public housing units and manages more than 3,500 Housing Choice Vouchers that collectively impact more than 13,000 individuals. As a national pacesetter among housing authorities, the board and leadership team consistently seek new opportunities for development and revitalization in the community. More information about LMHA is available online at www.lmha.org.