A Cincinnati government entity outbid more than a dozen investment firms to buy 194 homes in and around the city, the most aggressive response yet by local officials looking to keep tenants in their homes and private investors out of their neighborhoods
A Cincinnati government entity outbid more than a dozen investment firms to buy 194 homes in and around the city, a move meant to keep tenants in their homes and private investors out of their neighborhoods.
The Port of Greater Cincinnati Development Authority agreed last month to pay $14.5 million for the properties scattered throughout Hamilton County, which includes Cincinnati. While continuing to operate them as rentals, the agency said it intends to upgrade and eventually sell the homes to their primarily low-to-middle-income tenants.
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