EAST PRICE HILL (FOX19) - Local, state and federal stakeholders helped join Talbert House on Thursday to celebrate the ground breaking of Grand Development Initiative.
Grand Development will consist of 39 single bedroom units.
Located at 960 Grand Avenue in East Price Hill, the apartment community was partially financed by equity raised from the Low Income Housing Tax Credit Program.
This federal program provides a dollar for dollar reduction in income taxes for developers of affordable housing in exchange for providing below-market rents for at least 15 years.
The tax credits are then sold to investors, who provide equity to the project.