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Neighborhood Revitalization
Cincinnati, OH
Project Summary
Model Group’s comprehensive revitalization of Walnut Hills is a transformative, multi-phase effort designed to reinvigorate the neighborhood while preserving its rich history. This ambitious $105 million initiative includes a series of high-impact developments, blending historic preservation with modern amenities to create a vibrant, mixed-use community that attracts residents, businesses, and visitors alike.
At the heart of this revitalization is Paramount Square, a $22.6 million, LEED-certified project that restores and preserves eight historic buildings at the key intersection of Peebles Corner. In partnership with the Walnut Hills Redevelopment Foundation (WHRF), Model Group has created a dynamic mix of 51 apartments and 56,000 square feet of commercial space. Notably, Paramount Square is also home to Cincinnati’s first minority-owned brewery, marking an important milestone in the city’s business landscape.
Another cornerstone of the revitalization is Trevarren Flats, a $10 million, LEED-certified development that has meticulously restored three historic buildings into 30 market-rate apartments and over 6,000 square feet of commercial storefront. This project combines modern living with preserved historic charm, offering a unique mix of studio and two-bedroom apartments, alongside a range of brand-new amenities. Dedicated on-site parking enhances the convenience for residents.
“We’re achieving step by step what the neighborhood wants and what they envisioned for this site."
These projects, along with others planned for the E McMillan corridor, underscore Model Group’s commitment to breathing new life into Walnut Hills, creating a thriving, sustainable neighborhood where the past and future coexist. Together, these efforts are transforming Walnut Hills into a vibrant community that fosters growth, opportunity, and pride for generations to come.
Description
Multi-Phased
Buildings: 15
Investment: $105.3M
Residential Units: 261 apartments
40,000+ SF Commercial
Includes Paramount Square, Cincinnati Scholar House, Trevarran Flats Paramount Launch, Alexandra Apartments, Paramount Works
Location
Cincinnati, OH
Partners
Walnut Hills Redevelopment Foundation
City of Cincinnati
The Port
Cincinnati Union Bethel
Preservation of Affordable Housing
Cincinnati Development Fund
Ohio Capital Corporation for Housing
Funding Sources
New Market Tax Credits
Federal & State Historic Tax Credits
9% Low Income Housing Tax Credits
City HOME Funds
Federal Home Loan Bank
