CINCINNATI — Fairfield Homes Inc., in partnership with Kingsley + Co. and the Avondale Development Corp., has begun development of Blair Lofts, a $15.5 million affordable housing project in Cincinnati’s Avondale neighborhood. The four-story, 64-unit development will serve residents who earn 30 to 60 percent of the area median income. Located on the corner of Blair Avenue and Reading Road, the project will include a community room, community kitchen, fitness center, onsite storage and onsite parking. Completion is slated for summer 2022.
The project received financing through the allocation of federal low-income housing tax credits by the Ohio Housing Finance Agency, with Ohio Capital Corp. for Housing serving as the equity syndicator. Fifth Third Bank is the construction lender. The development also received financial support from the City of Cincinnati, the Port of Greater Cincinnati Development Authority and Cincinnati Children’s Hospital Medical Center. Berardi + Partners is the project architect and Gorsuch Construction is the general contractor. Fairfield Homes will serve as property manager.