Construction began in March 1905 after a construction permit was acquired and it was completed at a cost of $55,000.10 Its first floor tenants included a grocery store and pharmacy. By the 1970s, The Elberon had become home to low income tenants and then abandoned in the late 1990s.
The Model Group, in partnership with the non-profit community development corporation Price Hill Will, purchased the Elberon in 2010.1 4 The Model Group developed a rehabilitation plan for the four-level, 25,400 square-foot building that would include 37 one- and two-bedroom units for senior citizens, with CityStudios Architecture providing the design work.11 Work began on February 23, 2011 at a kick-off ceremony after thee years of planning.1 5 6 7 9
The Model Group was the third developer in three years to try to rehabilitate the Elberon.8 In 2007, a developer requested subsidies to convert the building into upscale condominiums.
The $7.4 million project1 3 was funded through various funding sources, including the city of Cincinnati HOME funds and $4 million from the federal Neighborhood Stabilization Program II.3 The Ohio Capital Corporation for Housing and the Ohio Housing Finance Agency also provided funding, as did the Red Capital Group and Fifth Third Bank.11 During the construction process, two neighboring houses were demolished for additional green space and parking.5
The Elberon, which was scheduled to be complete by February 2012,3 4 6 was dedicated on April 12.2 It is a gold certified LEED structure.9