Fields Ertel Townhomes
Public financing helps affordable housing development complete needed upgrades
The project involves the acquisition and renovation of an existing 55-unit low-income apartment complex consisting of 2 and 3-bedroom townhouses. Located in Symmes Township, the complex is suited to families and located within the top-ranked Sycamore Community School District. The proposed renovation will focus on upgrading building systems, unit interiors, and the building envelope.
The Port issued $7,500,000 of tax-exempt mortgage-backed revenue bonds and entered into a structured lease.
Impact:
- Preserves and upgrades much-needed low-income housing units in Hamilton County.
- It is anticipated that the project will create two new, full-time jobs, with a total payroll of approximately $112,000.
- Proposed renovations will update systems, interiors, and building envelopes. Common area and site improvements will include an office and office equipment for tenant use, community waiting area, playground areas, enhanced landscaping, and walking paths.
Project Specs:
Acquisition and renovation of an existing nine-building, 55-unit townhouse complex in Symmes Township financed with tax-exempt bonds and equity generated from 4% Low Income Housing Tax Credits (“LIHTC”).
Partners
