by Laura Calugar
Cincinnati—TWG Development, an Indianapolis-based real estate development company, has recently completed the transformation of former school Sands Montessori into Sands Senior Apartments, a 65-unit affordable community for residents age 55 and older. Huntington Bank, the Ohio Housing Finance Agency and the Federal Home Loan Bank Cincinnati were the lenders in this project. Equity funds were provided by Alliant. According to City of Cincinnati‘s Department of Finance and Development, the total project cost was estimated at almost $11 million.
Located at 940 Poplar St. in the West End neighborhood, the building is part of the Dayton Street Historic District from Cincinnati Public Schools. The proximity to a nearby bus stop makes travel to restaurants and shops in Cincinnati convenient.
The 65 affordable units include studio, one- and two-bedroom options with monthly rents starting at $500. More than a third of the units have been pre-leased. The four-story brick building is targeting LEED Silver certification. Historic features of the school, such as the gym and auditorium, have been preserved. Amenities include free parking for every resident.
According to cincinnati.com, the historic establishment opened in 1975 as the nation’s first public Montessori elementary school. The school moved to the West End building in 1979 and then moved to Mount Washington in 2002. The building continued to be used for its classrooms and later for storage.
Images courtesy of TWG Development