Preservation Loan Fund for Endangered Buildings
The Preservation Loan Fund for Endangered Buildings can be used to save endangered buildings by providing short-term loans to owners of historic buildings and to support direct action through Cincinnati Preservation’s acquisition of endangered sites.
What is the Preservation Loan Fund?
The Preservation Loan Fund for Endangered Buildings is a historic property redevelopment program, commonly known as a revolving fund. It is an active real estate based program for protecting endangered properties using techniques such as: options, purchase/resale, easements and tax credits.
The primary focus of the Preservation Loan Fund is to offer loans to end users that are supported and enhanced by escrow deposits Cincinnati Preservation makes to the Cincinnati Development Fund (CDF), a nonprofit lending institution that fills a gap not covered by traditional lenders.
If you have a project that might be a candidate, please contact Beth Johnson at beth.johnson@cincinnatipreservation.org.
Preservation Loan Fund Projects
1725 Elm Street
Cincinnati Preservation’s first project provided support to stabilize the endangered rear portion of 1725 Elm Street in Over-the-Rhine.The Italianate building was vacant and the rear portion was slated for demolition. CPA helped fund the stabilization work in partnership with CDF. The funds helped this important building in the historic Findlay Market area retain the rear section and move forward with a complete rehabilitation project. The project was also awarded federal and Ohio historic tax credits.
The Dennison House
The second awarded project was the purchase of 225 Wood Street in Batavia, Ohio. This highly significant 1833 Greek Revival house was vacant and was declared a public nuisance. The Batavia Village Council reluctantly ordered demolition. After months of negotiations and title work, Cincinnati Preservation completed the purchase of the property in March 2021. Cincinnati Preservation performed maintenance and completed minor repairs. The house has a historic conservation easement attached to the title and was sold to a preservation-minded buyer.
Eckstein School
Through the use of the Preservation Loan Fund, the Eckstein School at 44 Washington Avenue in the Village of Glendale, Ohio was saved from inappropriate redevelopment and partial demolition. Cincinnati Preservation bought and mothballed the property.
The property was transferred to the Eckstein Cultural Arts Center for them to redevelop as their home.
The Bridge by 8K
Evanston Business District Revitalization, Business Retention & Affordable Housing
A scattered site development in the historic business district of Evanston. The project will result in the thorough rehabilitation of 3 vacant and blighted historic buildings at 3604 – 3608 Montgomery, 3570 Montgomery and 1740 Brewster. The $8.4 million project includes 27 new apartments at 60-80% AMI
with 6,735 SF of commercial space and 12 parking spaces.
Project Partners:
The Port, Cincinnati Development Fund, City of Cincinnati, Walnut Hills Redevelopment Foundation, Ohio Development Services Agency, LISC, Cincinnati Preservation
Program Supporters
Thanks to program supporters: 1772 Foundation & Cincinnati Development Fund
The Preservation Loan Fund has received several grants from the 1772 Foundation located in Providence, Rhode Island. The foundation works throughout the nation to assist preservation organizations in saving historic properties. They encourage use of a range of methods from loans to support redevelopment of historic properties to direct investment by purchasing endangered buildings.
Thanks to Cincinnati Development Fund for their support of the stabilization of historic structures in our local community.
