Prosper Communities leads $1.4M renovation of Ravine Apartments in Silverton
Prosper Communities held a ribbon-cutting ceremony Friday, Nov. 3, for the Ravine Apartments, a 24-unit apartment community located at 6917-6919 Montgomery Road.
The Ravine was formerly a motel built in 1961, according to Prosper’s principal, DJ Hume. In its lifetime, the building was renovated from a motel to apartments. Prosper went a step further with a complete gut-remodel once it acquired the property in March 2022.
“The main goal of this project was to bring the life back to this building, but also into the community,” Hume said in a statement.
There are two two-bedroom, two-bath units. There are four micro-studios that include Murphy beds, and the rest of the apartments are one-bedroom units. The units are an average of 600 square feet with rent averaging $900 a month.
Another idea behind the project, according to Hume, was to create a small, Class A apartment community without the massive rents that some larger developments in the region see. With the lower rent, Prosper wanted to target recent graduates from schools like Xavier University or University of Cincinnati, or other young professionals who may not be able to afford a more luxury product.
#cincinnati #apartments #cre #commercialrealestate #housing #rent #classa #multifamily #community #silverton #ohio #renovation #ribboncutting #prospercommunities #redevelopment