Episcopal Retirement Services Earns Award for Affordable Housing for Seniors
Cincinnati, Ohio (PRWEB) July 21, 2017 -- Episcopal Retirement Services (ERS), which owns and operates twenty-five retirement communities for limited income seniors in Lexington, Kentucky, Anderson, Indiana, Greater Cincinnati and southern Ohio, has been awarded $15.9 Million competitive tax credits by the Ohio Housing Finance Agency for two projects in Ohio. The projects are Madison Villa in Cincinnati, and Sunrise Terrace, which is one part of Senior Citizen Associates Apartments in New Carlisle, Ohio.
“These tax credits will allow us to preserve the affordable housing at these locations and expand our mission,” said Kathy Ison-Lind, Affordable Living by ERS VP Affordable Living and In-Home Services. “Our seniors receive supportive and health services in our affordable living communities,” said Ison-Lind. “It’s one of the innovative differences that our organization is proud to offer.”
The Madison Villa project, in Cincinnati, is expected to start construction in the summer of 2018 and be completed in 2019. It will consist of a $12.275 Million dollar renovation of 95 apartments into 6 efficiency apartments, 82 one bedroom apartments and 5 two-bedroom apartments for low-income seniors while also adding new community space for residents to gather, as well as an onsite clinic and other features to assist residents to age in place and develop true community. The resulting new property will be jointly owned by ERS and the existing non-profit owner, Madisonville Homes for the Elderly and operated by Affordable Living by ERS.
The Sunrise Terrace project, in New Carlisle, Ohio, is also expected to start construction in the summer-fall of 2018 and be completed in 2019. The project will consist of a $6.163 Million dollar renovation of 48 one-bedroom apartments as well as the Community Building. The apartments will be renovated to include energy efficient heating and air conditioning, updated kitchen areas, renovated accessible bathrooms and new Community Building finishes, as well as an onsite clinic, a wellness/fitness area, and other areas for resident participation. The resulting new property will be jointly owned by ERS and the existing non-profit owner, Senior Citizens Associates, Inc., and operated by Affordable Living by ERS.
ERS has once again partnered with The Model Group, an integrated property development, construction, and management company with a passion for revitalizing urban neighborhoods, for both the projects. The two companies have partnered on several high quality, affordable living projects for seniors in the past. These developments built brand new or converted older model apartments into modern, updated units with energy efficiency, well designed units and market style finishes using the 65+ years of expertise that ERS has developed in serving older adults.
“There is a critical shortage of quality affordable apartments for low-income seniors across the country and we look forward to providing comfortable and well-designed living options and supportive services which enrich the lives of older adults in these communities,” said Laura Lamb, President and CEO of ERS. “It is our goal to create a caring community where elders live with dignity and can remain healthy and independent as long as possible.”
For more information contact:
Bryan Reynolds, ERS Director of Integrated Marketing (513) 979-2243 – breynolds(at)erslife(dot)org
Bryan Reynolds, Episcopal Retirement Services (ERS), https://www.episcopalretirement.com/affordable-cincinnati-senior-living, +1 (513) 979-2243, [email protected]
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