March 30, 2026
MVB Bank Uses AHP to Renovate Historic Building into Women's Housing
In 2025, Wolfe Osborn Place was able to open their doors after receiving an Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Pittsburgh (FHLBank) through FHLBank member financial institution, MVB Bank. Wolfe Osborn Place provides safe apartment housing and a supportive community for women recovering from substance use disorder. They offer their residents access to case management, financial literacy classes, and recovery resources.“It’s essential for them [the residents] to have this sense of community,” stated Katie Wolfe-Elbon, director of operations at Wolfe Osborn Place. “To have something like this where they can share their experiences and share in their struggles together. They need that support to be able to maintain sobriety long-term.”
In 2023, Wolfe Osborn Place was awarded a $750,000 grant from FHLBank’s AHP to help renovate an existing building in Clarksburg, WV, into studio, one-bedroom, and two-bedroom apartments.
AHP helps very-low, low-, or moderate-income households attain housing by providing funding to support expanding or preserving the affordable housing supply. FHLBank member financial institutions partner with developers to apply for grants or subsidized loans through a competitive annual AHP application process.
"MVB Bank is happy to partner with FHLBank’s AHP, which is making a true impact. At MVB, our mission is to be a trusted partner on the financial frontier, committed to the success of our clients and communities. This project truly embodies that statement. We were honored to be a small part of this wonderful project with the Wolfe family to provide a much-needed service to our local community,” said Herman DeProspero, regional president at MVB Bank.
Wolfe Osborn Place uplifts women by giving them a fresh start and a home, allowing their residents to focus on their long-term stability in a supportive and understanding environment.
