$23M Walnut Hills Project Marks Developer's First Attempt In Ohio

$23M Walnut Hills Project Marks Developer’s First Attempt In Ohio

all modern apartment building with glass balconies and reflective windows. Sunlight highlights clean lines and urban architecture. Ideal for real estate, cityscape — Source: Daria Matveeva / Getty

Louisville based developer Socayr Inc. is planning a major new affordable housing development in Cincinnati’s Walnut Hills neighborhood. The proposed project, called “2828 May Street II,” would bring 70 apartment units to vacant land located at 2828 May Street with a total investment of nearly $22.9 million.

The development is currently seeking funding through the Ohio Housing Finance Agency and its competitive 9% Low Income Housing Tax Credits program. If approved, the project could move into construction by the end of the year.

This would mark the first Ohio project for both Socayr Inc. and Beacon Properties, with Beacon serving as a consultant on the development.

The project is expected to add more affordable housing opportunities in Walnut Hills while continuing ongoing investment and redevelopment efforts throughout the historic Cincinnati neighborhood.