LDG Development Breaks Ground on $30M Seymour Station, a 150-Unit Affordable Housing Community in Cincinnati
LDG has broken ground on Seymour Station, a nearly $30 million, 150-unit affordable multifamily development located at 1931 East Seymour Avenue in Cincinnati's historic Bond Hill neighborhood. Cincinnati Mayor Aftab Pureval and local and state officials joined LDG representatives at the groundbreaking ceremony, marking what organizers described as the largest influx of affordable housing units to the area in decades.
The project represents LDG Development's first development in Cincinnati and its third in Ohio. The firm, which has developed more than 26,000 affordable units nationwide, is targeting families earning between 50 and 70 percent of the area median income — annual incomes ranging from $22,900 to $78,260 for a family of four.
Project Details and Amenities
Situated on a 4.31-acre site minutes from downtown Cincinnati, Seymour Station will feature garden and corridor-style buildings offering one-, two-, and three-bedroom apartment homes. Monthly rents are expected to range from $948 to $1,840. Units will include upgraded flooring and countertops, walk-in closets, and other finishes the developer says are more commonly associated with market-rate properties.
Residents will have access to an onsite clubhouse that includes a multi-purpose community room, a business center, a fitness center, and a playground area. The site's location also provides proximity to the Bond Hill Library, the Life Learning Center Head Start Program, and the Cincinnati Reds Youth Academy.
Leasing activity is expected to begin in the fall of 2026, with the first residents anticipated to move in during early 2027.
Financing and Development Partners
Construction costs for Seymour Station are estimated at nearly $30 million. Financing for the project was provided by Berkadia, The Port of Greater Cincinnati, Cincinnati Development Fund, and the Ohio Housing Finance Agency (OHFA). OHFA's involvement comes through the Low-Income Housing Tax Credit (LIHTC) program.
"The Ohio Housing Finance Agency is a proud financial partner of Seymour Station through the Low-Income Housing Tax Credit Program," said Penny Martin, director of public affairs for OHFA. "Our partnership with developers like LDG are bringing more housing options to residents in Cincinnati and throughout Ohio."
Mayor Pureval emphasized the project's alignment with the city's broader housing strategy. "Quality affordable housing is essential to our City's broader goals of growth and vibrancy in every community," he said. "The addition of developments like Seymour Station builds on the incredible momentum we've seen in bringing more housing options to the market to meet the needs of our neighbors."
Addressing Cincinnati's Affordable Housing Shortage
Seymour Station is part of an ongoing push to reduce an estimated deficit of 43,000 affordable housing units in the Cincinnati area. The development comes as Ohio faces a broader housing crisis, with state agencies and local governments partnering with private developers to expand the supply of income-restricted units.
Mark Lechner, co-founder of LDG Development, framed the project within the company's broader mission. "Ensuring a community has access to a variety of housing options that meet the needs of its residents is an essential component of a realistic and attainable economic development and job creation strategy," Lechner said. "It is clear that local and state officials in Ohio understand the vital role housing plays and are focused and committed to providing housing that meets the needs Cincinnati families need and deserve."
LDG Development's Ohio Expansion
LDG Development is one of the country's largest developers of affordable housing, with a portfolio exceeding 26,000 units across the United States. Seymour Station marks the firm's entry into the Cincinnati market and its third development in Ohio.
For more information about Seymour Station or to receive project updates, visit www.seymourstation.com.