Sands Senior Apartments open in Cincinnati
The Sands Senior Apartments are in a renovated school, built in 1912. It opened its doors on November 10. This $11.4 million facility boasts 65 one- and two-bedroom apartments that will serve low-income seniors throughout the area.
FHLB Cincinnati's Affordable Housing Program provided a $640,000 grant towards the facility through Huntington. The facility was developed in the historic Sands Montessori School building by TWG Development of Indianapolis. Additional financing was provided through the sale of Low-Income Housing and Historic Tax Credits, special limited partner equity, a deferred developer fee, a cash contribution from Huntington National Bank.
The facility will allow neighborhood residents who, as they age, may need supportive housing to remain in the neighborhood. Services will be provided by Cincinnati Area Senior Services.
“This is a valuable resource for the West End community,” said Mayor John Cranley. “We appreciate TWG Development for bringing high quality, affordable apartments for seniors while maintaining the character of the historic Sands Montessori School building.”
Andrea Kent, Development Director for TWG Development who worked on the project for four years, thanked FHLB Cincinnati for its involvement. "It’s very necessary and important to have sources of gap financing" for projects like this, she said.
“This redevelopment has been a success on many levels,” Ms. Kent said. “My hope for the West End community is that it will continue to see revitalization and investment. I’m happy to have played a role in this and give seniors a safe and affordable place to call home.”