WILLKOMMEN

Willkommen is a mixed-use, mixed-income project consisting of 16 historic rehabs and four new infill buildings scattered throughout four different project sites in OTR. Part of a larger affordable housing strategy between 3CDC and several of its partners, the project was co-developed with the Model Group. The project required a complicated financing structure that included 13 different funding sources, including federal and state New Markets Tax Credits, federal and state Historic Tax Credits, Opportunity Zone investments, conventional debt, and City funding.  It includes a total of 163 units – 88 apartments available to people making 50-80% of the Area Median Income (AMI) and 75 market-rate units. The apartments range from efficiencies to three-bedroom units. In addition to the residential component, the project contains nearly 20,000 square feet of first-floor commercial space. The historic buildings are Enterprise Green Communities certified while three of the four infill buildings achieved LEED silver certification.