Talbert House celebrates groundbreaking - Cincinnati News, FOX19-WXIX TV

Talbert House celebrates groundbreaking

EAST PRICE HILL, OH (FOX19) -

Talbert House celebrated the groundbreaking of the Grand Development Initiative on Thursday.

Grand Development Initiative is the first Talbert House supported apartment community in Cincinnati.

It will consist of 39 single bedroom units and is located at 960 Grand Avenue in East Price Hill.

It was partially financed by equity raised from the Low Income Housing Tax Credit Program.  The federal program provides a dollar-for-dollar reduction in income taxes for developers of affordable housing in exchange for providing blow-market rents for at least 15 years. The tax credits are then sold to investors, who provide equity to the project.

Talbert House is a community-wide nonprofit that operates five service lines: Adult Behavioral Health, Community Care, Court and Corrections, Housing and Youth Behavioral Health.

Officials say that construction on the apartments should be complete in one year. 

Copyright 2012 WXIX. All rights reserved.

 

Powered by Frankly