CINCINNATI, OH (June 4, 2026) – National Church Residences has completed a major $14.2 million redevelopment of The Alexandra, a historic apartment community in Cincinnati’s Walnut Hills neighborhood, preserving 83 affordable housing units for seniors, while modernizing the property and adding to the economic investment in the area.
Located at 921 William Howard Taft Road, the four-story, 120-year-old property underwent a rehabilitation led by National Church Residences in partnership with The Model Group, who brought the opportunity to the organization in efforts to further redevelop the neighborhood. Construction began following a financial closing on August 2024, with completion in March 2026 and full occupancy beginning in May 2026.
Model Construction served as general contractor, continuing its longstanding partnership with National Church Residences on affordable housing developments across Ohio. Originally constructed in 1904, The Alexandra was once the largest apartment building in Cincinnati, and it became the focus of a years-long preservation effort led by the Walnut Hills Redevelopment Foundation, which worked to prevent the property’s conversion into market-rate housing. The effort helped preserve affordable housing in Walnut Hills, a neighborhood experiencing significant reinvestment and growth. Today, the rehabilitation of The Alexandra builds on that work, ensuring the historic property remains an affordable housing resource for seniors while contributing to the ongoing revitalization of the neighborhood. The Model Group has played a significant role in Walnut Hills’ transformation through investments in affordable housing, market-rate housing and retail development.
“This redevelopment demonstrates how community partnerships can continue affordable housing inventory while revitalizing a building that is significant in Walnut Hills’ history,” said Tim Westrich, Senior Project Leader at National Church Residences. “At a time when affordable senior housing demand continues to outpace supply nationally, preserving existing units is as important as building new ones.”
With The Alexandra, National Church Residences continues to expand its investment in Hamilton County. The organization has a growing portfolio of affordable and supportive housing communities, which add nearly 500 units throughout the region, including Mount View Terrace, Corbly Trace, McHenry House, Commons at South Cumminsville, Oskamp Flats, and St. Theresa, with the future 550 Reading development scheduled to begin construction in May 2027. Together, these communities reflect National Church Residences’ long-term commitment to preserving and expanding affordable housing options for seniors and other residents across Cincinnati and Hamilton County.
The financing structure combines multiple federal, state, local and private funding sources, including 4% Low-Income Housing Tax Credits, Federal Historic Tax Credits, HUD Section 202 funding, Ohio Housing Finance Agency (OHFA) tax-exempt bonds, City of Cincinnati Community Development Block Grant funds, Hamilton County American Rescue Plan Act (ARPA) funds, and a permanent loan through the OHFA Multifamily Loan Program.
Additional financing partners include Fifth Third Bank, which serves as both construction lender and equity investor through a proprietary fund from OCCH. The project also includes a $5.48 million HUD Section 202 Capital Advance award and rental assistance for 52 Project Rental Assistance Contract (PRAC) units. In addition, nine of the two-bedroom apartments are supported through a Project-Based Voucher contract through HUD.
“Fifth Third has been committed to the revitalization of Walnut Hills for more than a decade, with a focus on growing and preserving housing for the people who live and work here,” said Dan Feldmann, Cincinnati region president for Fifth Third. “We are proud to support the preservation of this iconic building and to help residents of The Alexandra remain in their homes and continue to thrive.”
The rehabilitation includes extensive structural, exterior, and interior upgrades designed to extend the life of the property while improving resident quality of life and operational efficiency.
Improvements include:
- New roof, windows and doors
- Extensive masonry restoration
- HVAC upgrades and new water heaters
- Modernized kitchens, flooring and appliances
- LED lighting upgrades throughout units and common areas
- Refreshed community room, new fitness room, and upgraded laundry facilities
- Accessibility improvements, including Section 504-compliant mobility and vision/hearing units
- New landscaping, benches, grilling area and accessible walking path
- Installation of a gas-powered emergency generator
The grand re-opening celebration of The Alexandra is scheduled for Tuesday, June 9 at 10:00 a.m. The event will include remarks from projects leaders and financial partners, as well as tours of the newly updated community.
The redevelopment preserves four efficiency apartments, 64 one-bedroom units and 15 two-bedroom units.
The property primarily serves residents age 62 and older, with existing under-age residents vested into the community under current HUD guidance.
“From federal housing support and historic tax credits to local investment from the city, county and private financing partners, it truly took a collaborative funding effort to protect these affordable homes for Cincinnati seniors for generations to come”, said Amy Rosenthal, Vice President of Affordable Housing at National Church Residences.
Residents were temporarily relocated in phases throughout construction to minimize displacement and maintain housing stability during the rehabilitation process.
Architecture firm New Republic Architecture was selected for its expertise in historic preservation projects, including management of historic approval processes.
About National Church Residences
Originating from a Christian commitment of service, National Church Residences provides an array of health care services and a variety of housing options to 65,000 seniors. The nonprofit organization is driven by a vision to scale for mission impact by advancing better living for 100,000 seniors by 2030, wherever they call home. With more than 350 communities across the United States, it is the nation’s largest nonprofit provider of affordable senior housing and the largest manager of service coordinators.
The organization also offers a variety of additional senior living options, home and community-based services, as well as permanent supportive housing for the formerly homeless and disabled. For more information, visit us at NationalChurchResidences.org and follow us on Facebook, LinkedIn and YouTube.
CONTACT:
Chris Herbert, Public Relations
Cell: 614-448-8703
[email protected]
