CINCINNATI, July 5, 2016 /PRNewswire/ -- Gardner Capital Development has been awarded a reservation of affordable housing tax credits from the Ohio Housing Finance Agency to develop 50 independent senior residences in the Roselawn community of Cincinnati. This $11 million community will include 50 energy efficient, one- and two-bedroom apartments for seniors age 55 and older.
The 3.1 acre property, located at 1811 Losantiville Ave. in Roselawn, within Hillcrest Square, was acquired by the Port of Greater Cincinnati to eliminate a vacant and blighted commercial structure that previously existed. Due to the proximity to the border of Bond Hill and Roselawn, the development is intended to serve seniors in both the Roselawn and Bond Hill communities.
"It is our goal to create high-quality, well-designed and architecturally significant senior housing that will not only catalyze future investment in this corridor but be a showpiece for sustainability," said Michael Gardner, Principal and CEO, Gardner Capital. The project team is committed to utilizing state-of-the-art construction methodologies and securing LEED Silver certification utilizing sustainable design and materials that will result in reduced utility expenses for the residents.
In addition to the housing, the ground floor will provide a "community-focused commercial" space that is programmed for services for seniors including financial management, health and wellness, and social activities. An outparcel is also located on the site for future restaurant, retail, office, or other community use.
Construction of the development is anticipated to begin in Spring of 2017, with completion expected Summer of 2018. Gardner Capital Development will serve as the developer for this project. Other members of the development team include City Studios Architecture, Wallick Construction, Wallick Properties, Bayer Becker Civil Engineering, SOL Development Associates, and Cincinnati Area Senior Services. For more information about this project, visit www.bondhillroselawnseniors.com.
About Gardner Capital
Gardner Capital is an affordable housing and renewable energy tax credit development, syndication, and investment company with primary regional offices located in St. Louis, Dallas, San Francisco, Atlanta, and Springfield, Missouri. Since 1992, Gardner Capital has invested more than a billion dollars of equity in affordable housing alone. Renewable energy development and investment has been the more recent addition to the Gardner Capital operating portfolio, bringing hundreds of megawatts of solar projects online across the United States. The principals, Mark Gardner and Michael Gardner, continue to expand the company's national footprint in affordable housing and renewable energy with multiple offices across the United States. Visit www.gardnercapital.com for more information.
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SOURCE Gardner Capital