Perseverance adds critical Affordable Housing units for city residents whose income falls within 30-60% of the Area Median Income (AMI), a group with pressing need for access to housing. Now, new and long-time residents have updated housing and access to a vibrant, amenity rich, historically relevant neighborhood.
Perseverance revitalizes a long-vacant stretch of Vine Street through a combination of the Historic Rehabilitation of three abandoned 19th century buildings and new infill construction on a formerly vacant lot. The project was designed to be compatible with the surrounding neighborhood and residential market.
New Republic was hired to create a quality, historically sympathetic renovation of the vacant historic buildings and simultaneously push the envelope of urban infill design by creating a harmonious yet contemporary new building.The new infill building follows the infill design guidelines of the Over-the-Rhine Historic District. It is a majority masonry construction and was designed with contemporary elements and materials that respect and compliment the surrounding historic fabric, rhythms and proportions of the neighborhood. New Republic used quality exterior materials and lively color palettes to reinvigorate the entire city block.New Republic’s expertise in Historic Preservation Tax Credits was instrumental in procuring Ohio Historic Preservation Tax Credits, Federal Historic Preservation Tax Credits as well as Low Income Housing Tax Credits. To bring Perseverance to fruition, the project used a combination of 9% Low-Income Housing Tax Credits (LIHTC) through the Ohio Housing Finance Agency (OHFA), Federal Historic Tax Credits, and State Historic Tax Credits.Perseverance on Vine not only brings life back into this segment of the neighborhood, but also helps fill the affordable housing gap within the city.