By Emily Charles
Pennrose, Walnut Hills Redevelopment Fund (WHRF) and project partners on April 20 celebrated the groundbreaking of Lincoln & Gilbert, the $14.8 million redevelopment delivering 50 mixed-income apartments in the Walnut Hills neighborhood of Cincinnati. The redevelopment will transform 2924 Gilbert Ave., 933 Lincoln Ave. and the block bounded by Gilbert Avenue, Lincoln Avenue, Foraker Avenue and Monfort Street. Construction is slated to be completed in early 2024.
Speakers at the groundbreaking ceremony included Will Basil, developer, Pennrose, LLC; Samantha Miller, executive director, Walnut Hills Redevelopment Foundation; Kathryne Gardette, president, Walnut Hills Area Council; Cincinnati Mayor Aftab Pureval; Cincinnati Vice Mayor Jan-Michele Lemon Kearney; Cincinnati vice mayor; Cincinnati Councilmember Reggie Harris; Ryan Gleason, Ohio Housing Finance Agency Outreach/engagement manager; Luke Blocher, general counsel and chief strategy officer, Cincinnati Development Fund; Annie Ross, development vice president, Ohio Capital Corporation for Housing; Todd Castellini, the Port’s senior vice president of public finance/industrial development; and Geoff Milz, director of development, Pennrose LLC.
The first of two phases will create 50 high-quality, affordable apartments for families across two buildings, including amenity space with management office, community room, laundry facility, modern fitness center and more.
The four-story building on the south side of Lincoln Avenue will include 14 units in 21,680 square feet, including over 3,000 square feet for the common areas. The three-story building on the north side of Lincoln Ave will include 36 units in 30,138 total square feet.
The first phase will offer a mix of one-, two-, and three-bedroom apartments available at 30% to 60% of the Area Median Income (AMI). That’s an income of roughly $20,070 to $40,140 for a one-person household. In addition, the project includes plans for 81 parking spaces and hopes to enhance connections to public transit. The community is also conveniently located near education and job centers in Over the Rhine, Downtown, and Uptown.
“We are excited to partner with WHRF to build on the exciting growth and momentum in Walnut Hills, while preserving housing affordability in a dynamic, rapidly changing neighborhood,” said Geoff Milz of Pennrose.
“Lincoln & Gilbert transforms vacant, blighted land into high-quality, energy-efficient housing for families at a range of income levels.” Samantha Miller, WHRF executive director, said, “Walnut Hills Redevelopment Foundation is thrilled to break ground on this much
anticipated development. We’ve been working with the community step by step to bring the project to fruition, incorporating feedback from residents during outreach. The Walnut Hills Area Council has unanimously supported this project. Walnut Hills is ready to welcome its new neighbors.”
Financing for Lincoln and Gilbert was provided by the Ohio Financing Housing Agency, Ohio Capital Corporation for Housing, Ohio Capital Finance Corporation, Cedar Rapids Bank & Trust, the City of Cincinnati, the Cincinnati Development Fund, The Port and the Ohio Department of Development. The Cincinnati Development Fund manages the City’s Affordable Housing Funds.
WHRF is a non-profit community development corporation working to enhance the quality of life in Walnut Hills. Its vision is a Walnut Hills that is vibrant, safe, healthy and inclusive for all. It believes a quality place should be accessible to everyone.
Over the last 10 years, WHRF’s work has brought over $66 million of investment into 400 housing units and 42,000 square feet of commercial space. In December, WHRF closed on $60 million in construction for 148 units and 33,000 commercial square feet.
With a regional office in Cincinnati, Pennrose is committed to developing high-quality, transformative affordable housing across Ohio and the Midwest region. Most recently, Pennrose celebrated the grand opening of John Arthur Flats, Cincinnati’s first LGBTQ-plus affordable housing community for seniors in the Northside neighborhood. Pennrose has also developed 171 apartments and more than 10,000 square feet of commercial space at HaNoBe at Linden Square with the College Hill Community Urban Redevelopment Corporation (CHCURC).
With more than 50 years of experience, Pennrose combines high-quality development and proven management to deliver exceptional lifestyle-centered communities for its residents. With the superior knowledge and unparalleled dedication to get the job done right, Pennrose develops and operates conventional, affordable, mixed-income and mixed-use communities throughout the United States. For more information visit www.pennrose.com.
Walnut Hills Redevelopment Fund (WHRF) is an area non-profit that has been actively working to enhance the quality of life in Walnut Hills since 1977. Visit www.walnuthillsrf.org for more information.