Business Development News

Avondale celebrates the completion of Cincinnati’s first LEED certified affordable housing development

Cincinnati’s first LEED-certified affordable housing development was celebrated by community leaders last week in Avondale. The $4.3 million Forest Square Apartments development created 21 residential units in an inner-city neighborhood going through an urban revival.

The completion of Cincinnati’s first-ever LEED certified affordable housing complex was celebrated with a ribbon cutting in Avondale last week.

Created for seniors, Forest Square Apartments was developed by The Model Group and designed by City Studios Architecture. The new structure is hard to miss at 3511 Harvey Avenue, as its modern design and colorful exterior stands out amidst the numerous historic homes in the inner-city neighborhood.

The $4.3 million dollar development includes 21 two-bedroom handicap accessible units that offer high efficiency heating, air conditioning, and plumbing. Developers also tout the project’s LEED Silver accreditation, its community garden, kitchenettes, community room, on-site parking, and two outdoor patios.

The project was assisted by a $1 million award from HUD Recovery Act Tax Credit Assistance Program funds that were part of the American Recovery & Reinvestment Act. Local leaders and supporters attended the ribbon cutting, applauding the creative financing of such a unique project during these turbulent economic times.

Speakers also pointed out how important projects like these are during an economic recession, highlighting the fact that this project put people back to work, and produced decent, safe, and affordable housing.

“This project is a key indicator that Avondale is on its way back from being an under-served community,” reiterated Councilman Wendell Young. “This project will provide a safe and healthy environment for our seniors to live in the coming years.”

The project was developed with the Avondale Vision Plan and Burnet Avenue Revitalization Plan in mind as well. Both of which outline ways in which to re-establish Avondale as a safe and affordable neighborhood of choice.

Other agencies involved in the development include the Ohio Housing Financing Agency, HUD, PNC Bank, Avondale Community Council, Uptown Consortium, Key Bank, LISC, Ohio Capital Corporation for Housing, and the City of Cincinnati.