In an article published in the Cincinnati Enquirer, The Avondale Coalition of Churches is praised in the manner that they used a city loan to better the community. The city is now calling this deal a success.
Due to the loan received in 1997, the partnership of the four church Coalition, with the assistance of Sperry Van Ness-RICORE Investment Management, Inc. as the property manager, were able to bring the center back to life with new businesses and bring it away from the blighted property it had become in the late 1980’s and early 90’s.
The group was able to replace a burned down restaurant with a bad reputation, with a more vibrant one that attracts customers to the center, as well as update the center itself causing it to attract new businesses. An expansion of up to 12,000 SF is being discussed with hopes to attract a grocery to the center to serve this underserved community. The addition of a grocer in the center is on the city’s master plan as outlined by Mayor Cranley, earlier this year.
SVN-RICORE is a proud partner with the Avondale Coalition of Churches, and are excited to see a “good news” article and are looking forward to more positive impact on this neighborhood.