512e12 awarded State of Ohio Historic Tax Credits

Andre Bilokur, an architect and local real estate developer, stands in front of 512 E. 12th St. Tuesday, June 30, 2015. Bilokur's project to renovate a dilapidated building to house seven apartments obtained state historic preservation tax credits.(Photo: The Enquirer/Bowdeya Tweh)
Abigail Apartments Historic Tax Credit application was approved in the 14th round in a very competitive market.

From the article 7 city rehab projects get Ohio tax credits, by Bowdeya Tweh, Cincinnati Enquirer:

Andre Bilokur, an architect and local real estate developer, stands in front of 512 E. 12th St. Tuesday, June 30, 2015. Bilokur's project to renovate a dilapidated building to house seven apartments obtained state historic preservation tax credits.(Photo: The Enquirer/Bowdeya Tweh)

Patricia Bittner and Andre Bilokur secured tax credits for a building rehabilitation project on 12th Street in Pendleton. Bilokur, an Over-the-Rhine-based architect and developer, said he and Bittner acquired the building from OTR A.D.O.P.T., an organization that identifies historic properties that developers can repurpose.

The developers have also completed renovations to create new townhomes on Elm Street and is planning a residential project at 1437 Elm St.

The 512 E. 12th building, which Bilokur said could date back to the 1840s, will be renovated in a $700,000 project to house seven apartments. Bilokur said the one-bedroom apartments will average about 545 square feet and cost about $800 a month.

He said the project is designed to target young and active urban dwellers who want to live near Downtown in an affordable apartment. Units are expected to be completed by January.

"We want to restore the wonderful housing stock this neighborhood has to offer," Bilokur said. "It's one of the things that drew us as developers and architects from Seattle. The opportunities here in OTR and Downtown are just very exciting. We're happy to participate in that." Read the article here.