Urban redevelopment projects generate amazing success stories. Here in Cincinnati, many of those success stories have focused on the growth of small business startups and large, luxury residential ventures — particularly in the historic Over-the-Rhine (known locally as “OTR”) neighborhood.
OTR has, over the last 15 years, re-emerged in the regional consciousness following decades of economic neglect. Now, its glamorous turnaround is turning heads at a national level.
Less glamorous, but certainly worth noting, are projects that renew market-rate living spaces or that create more affordable living opportunities in low-income communities that have long suffered from the lack of careful attention and re-investment.
Seniors supporting communities supporting seniors
As part of its larger business strategy, Episcopal Retirement Services identified such underserved neighborhoods as opportunities for redevelopment projects.
We called the new initiative Affordable Living by ERS. We envisioned partnering with communities, contractors and real estate management groups to rehabilitate existing buildings into apartment-style retirement communities.
Our hopes, in doing so, were to take steps that would help to alleviate crushing demand for affordable senior housing, and to foster redevelopment that would preserve and promote socioeconomic and age diversity in host communities.
Over the last decade, we’ve steadily sought out properties to own or manage. We’ve worked with other non-profits, with city councils, with neighborhood champions and senior advocates alike. We’ve brought the concept to market in several neighborhoods around Cincinnati, in Springfield, in the Dayton area and even in the Bluegrass and Hoosier States.
In each case, we’ve succeeded in building partnerships and improving the lives of seniors. And that success has encouraged us to keep going. So we will! In the coming years, look for more Affordable Living by ERS communities to open in Ohio, Kentucky and Indiana.
More Affordable Living comes to OTR
Meet our newest Affordable Living by ERS apartment community: Central Parkway Place!
Housed on the top six floors of the recently refurbished Downtown YMCA building, the apartment community brings new senior living apartments to the heart of the Over-the-Rhine neighborhood.
Central Parkway Place isn’t even open for occupancy yet, and already it’s generating significant buzz downtown. Within a few short days of the process having been opened, we received 240 applications from seniors who need affordable housing — more than four times the number of available units.
So, with a long waiting list and the application window now closed, the demand is pretty clear. Cincinnati, like many other areas of the country, has a critical lack of affordable housing for older people. And we will continue to meet that demand.
Open House for Central Parkway Place
We’ll host an open house at Central Parkway Place, from 10:30 a.m.-noon Thursday, Aug. 11 to celebrate the completion of this beautifully renovated Affordable Living community.
Tours of the center will be offered every half-hour, and we’ll be serving light refreshments. If you’d like to see the future of affordable senior living, we welcome you to join us!
Here are the particulars:
Central Parkway Place Open House
Thursday, Aug. 11, 10:30 a.m.-noon
1105 Elm St.
Cincinnati, OH 45202
While you’re here, make sure you stop in to the completely refurbished YMCA facility, occupying the first and second floors of the building. You’ll be amazed by the Y’s state-of-the-art equipment, beautiful new fitness studios, indoor saltwater pool and more!
Central Parkway Place will soon take its place as a vibrant community hub, an oasis of affordability in an increasingly expensive urban area and an enriched community in which seniors with limited incomes can remain independent and enjoy rewarding retirement living. And we’ll keep looking for more opportunities to bring communities like Central Parkway Place to the areas that need them most.
Person-centered, dignified, affordable care shouldn’t be limited to seniors with means.
It should be available to everyone. And the commitment to make it so is part of our organizational DNA.
If the shortage of affordable senior apartments concerns you as deeply as it concerns us, please consider supporting the Affordable Living by ERS initiative. Your donation will be used to provide services to the seniors living in Affordable Living by ERS communities. Your contribution impacts their daily lives by providing essential services like transportation, healthcare clinics, wellness activities, and spiritual services.
Click here to make your tax-free, charitable donation to ERS today!