3CDC acquires three key properties from affordable housing developer.
The Cincinnati Center City Development Corporation (3CDC) has made a somewhat major move in acquiring three new properties in the heart of Over-the-Rhine south of Liberty Street. While many neighborhood leaders are cheering the move, some others are expressing concern over the acquisition of properties that have been housing low-income residents. More from the Business Courier:
Anastasia Mileham, vice president of communications for 3CDC, said the three buildings have about 80 apartments, 16 of which were vacant when 3CDC purchased the properties earlier this month. “They are pretty significant problem buildings,” Mileham said. “Lots of calls for service, lots of criminal activity, gun activity. They are problem properties for the neighborhood. The residents have voiced an interest in moving out of these problem spaces.”
3CDC is working with the Model Group, the Community Builders, Affordable Housing Advocates Cincinnati and Legal Aid Society of Greater Cincinnati to help current residents of the buildings find new homes. Some residents have already found other living situations.