Evanston Neighborhood Opens Project as Part of Five Points Urban Renewal Plan
December 8, 2011 – Woodburn Pointe, a $4 million redevelopment project serving senior residents, held its grand re-opening today in the Evanston neighborhood of Cincinnati. The renovation of Woodburn Pointe complements the neighborhood's Five Points Urban Renewal Plan, which calls for the development of senior housing in the neighborhood. The renovation consisted of two 110-year old buildings into 24 senior housing units.
As part of the city's continuing efforts to invest in neighborhoods, Woodburn Pointe was allocated $2.3 million in Neighborhood Stabilization Program (NSP) funds by the City of Cincinnati. Woodburn Pointe is supported by the Evanston community as it has created new housing opportunities and revitalized the neighborhood.
Along with the use of NSP funds, the financing of Woodburn Pointe was provided by low-income housing tax credits administered by the Ohio Housing Finance Agency and City of Cincinnati HOME funds. Equity was provided by the Ohio Capital Corporation for Housing. The Model Group, Inc. is the developer of Woodburn Pointe and Brickstone Properties, LLC is the managing agent.