3CDC has spent the past several years working with community partners to advance a comprehensive strategy to address affordable housing issues in the Over-the-Rhine neighborhood. To date, 3CDC and its partners have developed 416 affordable units. This accounts for 70% of the total units 3CDC has developed in OTR. In addition to projects that are fully filled with affordable apartments, these numbers include special needs housing and mixed-income developments. The majority of these projects are also mixed-use residential projects, featuring street-level commercial space along with the residential units on the upper floors.
Additionally, 3CDC worked with several partners on the $42 million Homeless to Homes initiative, which resulted in the creation of three comprehensive residential and service facilities for the homeless.
Willkommen is a mixed-use, mixed-income project consisting of 16 historic rehabs and four new infill buildings scattered throughout four different project sites in OTR. Part of a larger affordable housing strategy between 3CDC and several of its partners, the project is being co-developed with the Model Group. The project required a complicated financing structure that included 13 different funding sources, including federal and state New Markets Tax Credits, federal and state Historic Tax Credits, Opportunity Zone investments, conventional debt, and City funding. It will include a total of 163 units – 69 apartments available to people making 50-80% of the Area Median Income (AMI) and 94 market-rate units. The apartments range from efficiencies to three-bedroom units. In addition to the residential component, the project contains nearly 20,000 square feet of first-floor commercial space. The historic buildings will be Enterprise Green Communities certified while three of the four infill buildings will achieve LEED silver certification.