POAH partners with the Model Group to preserve 1,100 affordable apartments in Ohio and Kentucky representing POAH’s largest portfolio acquisition to date

POAH partners with the Model Group to preserve 1,100 affordable apartments in Ohio and Kentucky representing POAH’s largest portfolio acquisition to date

Washington, DC – (RealEstateRama) — On June 1, POAH acquired 20 properties with 1,136 affordable apartments in Ohio and Kentucky from The Model Group (TMG), a for-profit development company with deep roots in Cincinnati.  This represents POAH’s largest portfolio acquisition to date and comes at a time when some Cincinnati neighborhoods are seeing significant investments in infrastructure, new public transportation options, and an expansion of the district’s art and dining scene

POAH partners

Apartments will remain affordable long-term and allow residents of all income levels to participate in the economic renaissance of these neighborhoods. POAH was invited to Cincinnati by The Model Group who was looking for a non-profit partner that could provide integrated property management and resident services.  TMG was looking for the optimal way to leverage affordable housing to provide opportunities and create transformation for low-income residents.

In neighborhoods like Over-the-Rhine, Walnut Hills and Evanston – where rents have climbed dramatically and much of the affordable housing is at risk of conversion to market-rate apartments or condos – POAH and TMG have preserved affordability, support and expanded opportunities for low-income residents in Cincinnati.

In addition, POAH Communities is providing third-party management for more than 600 affordable apartments and will partner with TMG to preserve and build affordable housing properties going forward.  POAH Communities will implement a Community Impact program across the portfolio to help residents succeed, with outcome-driven resident services that foster financial stability, health and education.

read more

view the properties

Previous articleHabitat for Humanity receives $1.25 million donation from The Harry and Jeanette Weinberg Foundation to help improve wellness of low-income older Americans by combining home repairs with health care services
Next articleSecond Quarter Commercial/Multifamily Delinquencies Remain at Low Levels