Developers and city leaders kicked off a 30-month long rehabilitation project at Fay Apartments yesterday morning on the city’s west side. Once complete, the project will reduce the total number of housing units and become the largest green renovation of an affordable housing community in the United States.
In addition to a $36 million face-lift that will include the demolition of 17 buildings, the community has also been renamed The Villages of Roll Hill. At this time, city officials say that it has yet to be determined if the new community name will impact the official city neighborhood name of “Fay Apartments”, but early indications seem to indicate so.
Community leaders have been looking at rehabilitating the affordable housing community (map) for nearly five years. The latest version of the plan soon to be realized will reduce reduce the number of housing units from 893 to 703 and upgrade security measures, add new landscaping and trees, and include new playgrounds for the many children that live in the community.
The project was made possible through federal funds including a $32 million loan from the Department of Housing & Urban Development and a $3.2 million loan from City HOME. The City of Cincinnati has also granted an eight-year tax abatement on the renovation work.
Developers from Cincinnati-based Wallick-Hendy Properties are seeking Leadership in Energy and Environmental Design (LEED) certification for the project, but stated last year that the level of green improvements would be dependent upon government support.