Thanks to
Model Group and
Welcome House, 13 buildings in Covington's MainStrasse Village will undergo historic renovations.
Renovations will be done in two phases, with the first phase slated for completion by the end of next year. The project was awarded about $700,000 in federal low-income housing tax credits through the
Kentucky Housing Corporation, and that money will be applied to 801 and 803 Main St.; 710-712 Greer Ave.; and 257, 301 and 315 W. Seventh St.
All properties are residential, except 801 Main, which will remain a commercial space.
The remaining five buildings will receive additional tax credits in 2016. The entire project will also be eligible for historic tax credits, as the Model Group is planning full historic renovations of each building. When the project is complete, the current number of low-income housing rentals will be reduced from 53 to 41 to allow for larger living spaces.
The Welcome House, a Covington-based social services agency, wants to develop more affordable housing opportunities for single parents. And Model Group is aiming to make low-income housing indistinguishable from market-rate apartments.
Construction will begin on the project as soon as the tax credits are closed on in early December. The Welcome House is already overseeing the properties, though.
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