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NATIONAL CITY COMMUNITY DEVELOPMENT CORPORATION TO SERVE AS EQUITY PARTNER IN DEVELOPMENT OF 105 NEW HOMES IN NORTHEAST YOUNGSTOWN

 CLEVELAND, Oct. 12 /PRNewswire/ -- The Beachwood Village Limited Partnership today announced details of its plans for Beachwood Village, a community of 105 new homes to be built in northeast Youngstown.
 Forty acres of wooded property bordering McKelvey Lake will be transformed into a unique cul-de-sac boasting new homes on large wooded lots. Just a 10-minute drive to downtown, Beachwood Village will offer home buyers easy access to Youngstown's cultural and recreational amenities.
 Walter Burks, president of Commodore Development Corporation, and Snavely Building Company joined forces to form a new company called Burks/Snavely, serving as general partners in the Beachwood Limited Partnership. National City Community Development Corporation (NCCDC) serves as a limited partner in this project.
 "I am committed to continued improvement of the quality of life in the Youngstown community and housing is among the high priorities in the city," said Mayor Patrick J. Ungaro. "I see a unique opportunity for quality affordable housing in the Beachwood Village venture and commend the efforts of all who are involved in making Youngstown a better place in which to live."
 The City of Youngstown is seeking a $650,000 federal loan to fund necessary infrastructure support including the new street, water line, sanitary sewer, storm sewers, fire hydrants, walkways, water and sewer taps, and electric street lights.
 These 105 homes will be constructed in three phases; 35 units per year over the next three years. Three model units--a colonial, a Cape Cod, and a ranch--will be built this year and will serve as the project's sales center.
 National City Corporation (NYSE: NCC) Deputy Chairman David A. Daberko said, "This is the first of what we hope will be many exciting projects in the Youngstown area. Our equity investment in the first phase of this project is $700,000; when the project is completed, our total investment could top $2.1 million."
 NCCDC is a subsidiary of National City Corporation, a $31 billion diversified financial services company headquartered in Cleveland. Today, Oct. 12, National City completed its acquisition of Ohio Bancorp. National City Bank, Northeast, the corporation's Akron-based bank, is providing a $1,925,000 construction loan.
 "We believe the Beachwood Village residential area is attractive from many standpoints. Good location, excellent home value, and attractive financing opportunities--it's a package that National City is pleased to bring to Youngstown in support of this project."
 National City Bank, Northeast is also offering prospective home buyers an affordable first mortgage product, the National City Housing Affordable Mortgage Program (NCHAMP).
 "NCHAMP provides a low interest rate, five percent down payment, no points, no income limits, and flexible underwriting standards to buyers of new and rehabilitated homes in which the NCCDC has an equity investment," explained Danny H. Cameron, president, NCCDC.
 Councilman Lock P. Beachum (Ward 2) said, "Thanks to National City for a shared vision of hope, dreams, and now reality. The dialogue of this venture has been of a cooperative and professional nature. National City Bank is demonstrating a direct commitment to Youngstown in its interest in the betterment of our city."
 Thomas R. Hollern, president and CEO of The Dollar Savings and Trust Company, National City's Youngstown affiliate, said, "I am truly excited about this very real evidence of National City Corporation's commitment to the Youngstown community. It is a substantial amount of money injected into an area of pressing need--meaningful, affordable housing within the city limits."
 THE BEACHWOOD VILLAGE LIMITED PARTNERSHIP
 Burks, president, Commodore Development Corporation, said, "Commodore Development Corporation was the original developer of inner- city housing in Cleveland. We welcome and appreciate the opportunity to take the same commitment and expertise to the City of Youngstown."
 Snavely Building Company's responsibilities in this project include site development, supervision of contractors, documentation of minimum specifications, and construction.
 Formed in 1982, National City Community Development Corporation has been involved in over $73 million of neighborhood revitalization projects.
 -0- 10/12/93
 /CONTACT: Sharon A. Lamcha of National City Communications, 216-575-2316/
 (NCC)


CO: National City Community Development Corp.; Beachwood Village L.P. ST: Ohio IN: FIN CST SU: PDT

AR -- CL035 -- 1232 10/12/93 15:28 EDT
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Date:Oct 12, 1993
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