Newly Approved Affordable LGBTQ Senior Housing Shows 'How Far We've Come'
Development on an affordable housing project for LGBTQ+ seniors is expected to begin soon in Northside. Cincinnati Council voted unanimously Thursday to approve a 15-year tax exemption agreement for the project.
Apple Street Senior is a partnership between Penrose, LLC and Northsiders Engaged in Sustainable Transformation, or NEST. The 57-unit senior apartment building will be open to members of the LGBTQ+ community. Council Member Chris Seelbach says the project is impressive and exciting.
"The fact that Cincinnati is going to break ground on an affordable LGBTQ+ senior center, I think it's almost like the epitome of how far we've come," Seelbach said.
All 57 units will be for seniors earning 60% of Area Median Income or less — that's about $35,000 a year or less. Some of the units will be reserved for extremely low-income seniors, making about $18,000 a year or less.
Markiea Carter, director of community and economic development, says the inclusion of affordable housing warrants the maximum tax incentive.
The 15-year tax exemption agreement is for 100% of the value of improvements to the property; officials estimate the city's portion of property taxes forgone to be about $211,000, with a total public benefit of about $625,000 from the project:
- $539,455 paid to Cincinnati Public Schools (payment in lieu of taxes)
- Up to $85,884 in income tax from 21 temporary construction jobs and 1.5 permanent jobs
The three-story building will have about 50,000-square feet of residential space and the site will have 48 rear parking spaces.
Developers will demolish a former grocery store building on the site at 4145 Apple Street before constructing the new apartment building. They hope to break ground in the next few weeks.
Learn more about the tax exemption agreement below: