Next week we’ll announce the findings of a research study central to Phase Two of the Uptown Innovation Corridor development. The Uptown Consortium commissioned the Avondale Housing Market Intelligence Report as a key tool in creating forward-looking residential improvements that honor Avondale, its history and its residents. (For a copy of the study when it's released next week, EMAIL US HERE.) As we discuss this study with stakeholders, I am reminded of the sweat equity required in improving older neighborhoods like Avondale. Not only do Avondale homeowners often have pre-WWII houses to care for, but they use time and talents to repair and refurbish their homes. This comes naturally to Avondale neighbors, as they also use their time and talents with community priorities, projects, youth councils and church programs.
Avondale’s approach to its neighborhood can inspire those of us in community development to use the same principles: work together, don’t take short-cuts, honor the residents and listen to history. These principles of inclusion and pragmatism are also helpful in our development planning. Last month we shared that the Uptown Consortium has met the entire scope of Brookings Institute standards for innovation districts—one of our proudest accomplishments. Part Two in the three-part series detailing this milestone is HERE.
Of course, the work of the Uptown Consortium and progress on the Innovation Corridor wouldn’t be possible without the federal New Markets Tax Credits Program. This program provides a tax credit against federal income tax obligations in exchange for making equity investments in community development entities, like the Uptown Consortium. In fact, the Consortium has been able to invest more than $600 million across our Uptown neighborhoods through NMTCs. Next month by invitation I’m excited to share our best practices at the upcoming NMTC conference in Washington D.C. It is the hard work of our colleagues and community partners that has national leaders taking notice of what we’re accomplishing as colleagues, investors and stakeholders.
Speaking of stakeholders, we look forward to celebrating them and the work of the community on June 21, at the INNOVATE | CELEBRATE UPTOWN CINCINNATI EVENT, hosted at the UC 1819 Innovation Hub.
On behalf of all who benefit from the impact of Uptown, thank you for being a partner who helps us achieve the future together.
President & CEO
Uptown Consortium, Inc.