Gardner Capital’s Plan for Senior Housing Advances
- Jul 12, 2016
Cincinnati—The Ohio Housing Finance Agency has awarded Gardner Capital Development affordable housing tax credits toward the development of 50 independent senior residences in Cincinnati’s Roselawn community.
The $11 million property will consist of 50 energy-efficient one- and two-bedroom apartments for adults age 55 and up. The community will be located on a 3.1-acre site at 1811 Losantiville Ave. in Roselawn in Hillcrest Square, which was acquired by the Port of Greater Cincinnati to replace a vacant commercial structure.
“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 Gardner Capital CEO Michael Gardner. The project team intends to secure LEED Silver certification employ sustainable design and materials that will reduce utility expenses for residents.
The development will include a “community-focused commercial” space designed for services for seniors including financial management, health and wellness, and social activities.an outparcel on the site will house a restaurant, retail, office or other community use.
Construction is scheduled to begin in spring of 2017, with completion expected in the summer of 2018. Besides Gardner Capital, the development team includes City Studios Architecture, Wallick Construction, Wallick Properties, Bayer Becker Civil Engineering, SOL Development Associates and Cincinnati Area Senior Services.