Someone wants to build a $50 million dollar assisted living facility in Colerain Township.

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Vivera Northbrook is an affordable assisted living and memory care community concept by Marian Development Group out of Louisville, KY. The community would include 118 studio and one-bed apartments dispersed among four floors. The units would have income restrictions of 60% of the median income in the area.

There is no financing in place as of yet but the developer has plans to apply for 4% tax-exempt bonds as well as possible property-tax abatements in the fall. This move could allow the usage of the Port of Greater Cincinnati Development Authority for bond issuance that would then allow them to avoid paying sales tax on the construction materials used during the building process.

Community residents would enjoy shared dining space, television rooms, a theater room, fitness center, beauty salon, barber, laundry facilities and ample outdoor space with paths and walkways.

https://www.bizjournals.com/cincinnati/news/2024/05/16/colerain-senior-living-development-marian-group.html

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