OAQDA Issues $22.8 Million in Bonds for Clean Air Improvements at Mixed-Use Development Project in the University of Cincinnati Area

FOR IMMEDIATE RELEASE 
January 17, 2024

Media Contact: Katie Lundy
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614-353-6476

OAQDA Issues $22.8 Million in Bonds for Clean Air Improvements at Mixed-Use Development Project in the University of Cincinnati Area

COLUMBUS- The Ohio Air Quality Development Authority (OAQDA) recently closed on bond financing for $22.8 million to support an air quality project for 47 WHT, LLC through its signature program, the Clean Air Improvement Program(CAIP).

The new building is part of an urban redevelopment infill involving residential apartment units and commercial space in the University of Cincinnati area. The design incorporates upgraded energy-efficient components and envelope including roof and windows; high-efficiency mechanical systems; energy-efficient lighting; and ENERGY STAR appliances. A solar photovoltaic system installed on the roof will provide clean onsite power.

"OAQDA is pleased to provide financing to support more energy-efficiency housing in an area that is being redeveloped around the university," said Christina O'Keeffe, executive director of OAQDA. "Residents will enjoy energy cost savings with lower utility bills and the entire community benefits from the addition of cleaner housing development to support growth projections. It's a win for all involved."

47 WHT, LLC is located in the Corryville and Mount Auburn communities in Cincinnati in Hamilton County. The building is at the gateway to the University of Cincinnati. The project will lead to the creation of 200 full-time construction jobs and 80% of the building content is sourced from Ohio.

"We appreciate the support and cooperation we have experienced with OAQDA to assist with the economic viability of this project and bring much-needed residential space to the University of Cincinnati area," said Patrice Burke, vice president of development for 47 WHT, LLC. "We anticipate that this building will achieve an energy reduction of 50.5%, a reduction in emissions of 43% compared to industry baselines, and an anticipated energy costs savings of 53.8%."

"As a graduate of the University of Cincinnati and a representative of the district, I know that housing is a major need in this area," said Rep. Cecil Thomas (D-Cincinnati). "With bond financing from the Ohio Air Quality Development Authority, this project enhances the community by providing additional housing in an energy-efficient way."

OAQDA is committed to serving the economic and environmental needs of Ohio businesses and communities as they strive to reduce air emissions while supporting the state's economic growth.OAQDA's CAIP program provides financial tools through bond financing, allowing companies to make investments in cleaner, more efficient technologies such as pollution control, energy efficiency and renewable energy.

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The Ohio Air Quality Development Authority (OAQDA)is a non-regulatory government agency working to position Ohio as a leader in harmonizing a strong economy and a healthy environment. Since its creation in 1970, OAQDA has worked to improve air quality by supporting businesses, creating jobs and improving communities while enhancing the health and safety of all Ohioans. To date, OAQDA has awarded more than $6 billion to finance air quality projects. For more information about OAQDA and its services, please visit ohioairquality.org.

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