Monday, June 17, 2013

Northside rehab kicks off Homeownership Month

The City of Cincinnati kicked off Homeownership Month on June 4 with the dedication of Cincinnati Northside Community Urban Redevelopment Corporation's (CNCURC) most recent rehab.

Once destined to be demolished, the house at 4207 Mad Anthony Street has been reborn as a three-bedroom, one-and-a-half bath single family home that will be available for sale to a HOME-eligible family or individual.

8K Partners was the general contractor.

The house is part of the final phase of the Parkside Rehab Project, which also consists of the three-unit condominium building at 1433 Chase Avenue.

The City's investment of $85,000 in Neighborhood Stabilization Program (NSP) funding leveraged $127,000 in private financing.

"The numbers on this project and others I guess are important for some for historical reasons or for auditing purposes," said City Manager Milton Dohoney, Jr. "The bottom line is this partners with communities and invests money in order to spur redevelopment, in order to advance neighborhoods, in order to raise the level of stability in our City. It is what we are supposed to do."

The project is a continuation of CNCURC's focus on increasing homeownership and removing blight in the area around Chase Avenue and Fergus Street and is the eleventh house completed since the program launched in 2005.

Jim Cunningham, Cincinnati field office director for the U.S. Department of Housing and Urban Development, said that the NSP is doing exactly what it was designed to do – to use housing development as an economic driver.

"Housing is also an economic driver," he said. "The NSP program puts people to work. Homeownership itself is an economic multiplier. If people buy houses, then they spend more money. So it's good for the local economy."

Northside Community Council President Martha Dourson added that homeownership does even more for a community by bringing in more residents with "skin in the game".

"I think Northside is probably no different than any other community in realizing how homeownership can promote responsibility of its residents and stability in the neighborhood," she said. "It's probably one of the best tools that we have for promotion of investment of any residents in their time, talent and money in a City."

Photos provided

Previous reading on BC:
Photos: New Northside NSP2 rehabs (9/10/12)
Council approves federal HOME funding for Northside rehabs (9/28/09)
Ordinance would bring four affordable units to Northside (9/1/09)
City kicks off National Homeownership Month in Northside (6/8/09)
Northside CURC to buy vacant City parcel (4/1/09)