Price Hill Will will renovate the four-unit row house at 751-757 Purcell Avenue into market rate housing, returning to productive use a property that's been vacant for five years.
Cincinnati City Council approved an agreement to provide a $140,000 forgivable loan to the community development corporation on June 19.
Upon completion, each unit will have more than 3,400 square feet of living space on three floors, with four bedrooms and two-and-a-half baths. Sale prices are expected to be approximately $130,000 each.
Price Hill Will plans to begin lead abatement and interior demolition this October, with certificates of occupancy to be issued by July 2014.
The total project cost is estimated at $820,842. The project has received an additional $160,000 in private funding and has a line of credit with the Local Initiatives Support Corporation of Greater Cincinnati and Northern Kentucky.
Previous reading on BC:
Price Hill Will continues to win awards (6/28/12)
Photos: Grand opening of the Elberon Senior Apartments (4/16/12)
Price Hill the driver for Elberon's rebirth (4/12/12)
Incline District closer to formal recognition (4/4/11)
Price Hill, City celebrate first NSP rehab and sale (4/21/10)