28 July 2008

Magnolia Heights

An article in Affordable Housing Finance, a trade publication covers Model's rehabs in OTR:
...People passing through the Over-the-Rhine neighborhood have a hard time distinguishing a $300,000 condo from a unit that rents for 35 percent of the area median income, thanks to The Model Group.

... 500 of the neighborhood’s 1,200 buildings were left vacant.

...“By the time we got done rehabbing the affordable units, the blighted structures in the neighborhood were the vacant ones,” said Smith. “We were able to acquire those vacant buildings and achieve stabilization in the neighborhood without any displacement of low-income housing.”

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