$15 million multifamily project starts on West Side

$15 million multifamily project starts on West Side

A long-planned affordable housing project broke ground recently in Lower Price Hill.

The Lower Price Hill Thrives project, a development more than six years in the making, was created to address the gap in affordable housing in the West Side community. Over the next 18 months, phase one of the project will invest $15.2 million to rehabilitate 10 existing vacant and blighted historical properties and build one new structure to create 47 affordable apartments and three retail spaces. The new construction building will be located at 2117 W. Eighth St.

The project, which is being developed by Over-the-Rhine Community Housing and Community Matters, is designated as permanently affordable, with the apartments designed to align with the wages paid by local employers and residents on a fixed income. The apartments will be affordable to people making 30% to 80% of the area-median income.

Mary Delaney, executive director of Community Matters, said Lower Price Hill neighbors started organizing around the need to address the housing crisis facing the community six years ago.

“We are honored to stand alongside our neighbors and launch the most transformational investment into quality housing in our neighborhood’s history,” Delaney said in a news release.

Hamilton County awarded Lower Price Hill Thrives $350,000 this week as part of $1.4 million awarded to affordable housing projects in Cincinnati and Lockland. The project also received support from the Carol Ann and Ralph V. Haile Jr. Foundation, the Cincinnati Development Fund, the city of Cincinnati, CREA, First Financial Bank, the George B. Riley Trust, the Greater Cincinnati Foundation, the Jacob G. Schmidlapp Trust, Fifth Third Bank, the Lower Price Hill Community Council, the Neighborhood Action Team, Nehemiah Manufacturing Co., the Ohio Department of Development, the Ohio Housing Finance Agency, and the Port of Greater Cincinnati Development Authority.

HGC Construction is leading construction of Lower Price Hill Thrives. Platte Architecture + Design and New Republic Architecture are working together as the architects on the project.

Founded in 2014, Community Matters works to create a thriving and more just community by removing barriers to opportunity. It works in partnership with residents of Lower Price Hill.

Over-the-Rhine Community Housing was formed out of two groups that had been developing and managing affordable housing in Over-the-Rhine since 1978 and 1988. It owns 136 properties and manager more than 420 units of affordable housing ranging from permanent supportive housing for individuals coming out of homelessness to market rate rental housing for moderate to low-income individuals and families.

LINK