Salvation Army lands $11 million for upgrade of College Hill Booth Residences apartment building

Salvation Army lands $11 million for upgrade of College Hill Booth Residences apartment building

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JLL Capital Markets helped the Salvation Army secure a 35-year, fixed-rate loan through the Department of Housing and Urban Development, which will allow the units to be preserved for low-income seniors.

Booth Residences was built in 1981, with a 2006 renovation that utilized low-income housing tax credits.

The Salvation Army acquired the building in 2006 for $4.5 million, according to the Hamilton County auditor.

The project is expected to take 12 months.

https://www.bizjournals.com/cincinnati/news/2023/11/29/booth-residences-salvation-army-college-hill.html

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