April Housing Preserves Third Affordable Housing Community in Cincinnati-Area
Investing Over $20 Million in Community-Wide Renovations
LOS ANGELES, January 7, 2026 – April Housing, Blackstone Real Estate’s affordable housing portfolio company, today announced the closing of a resyndication deal at its third Cincinnati-area affordable housing community, extending affordability at the property for at least 30 years.
Built in 2002, the 240-unit property includes 31 garden- and townhouse-style buildings and reflects April Housing’s continued commitment to preserving and improving affordable housing nationwide. As part of the resyndication funding, April Housing will complete more than $20 million in renovations across individual units and shared community spaces. Residents will directly benefit from extensive improvements, including:
- Full roof replacements and new windows
- Roof insulation to improve energy performance
- Accessibility upgrades throughout the community
- Subway tile backsplashes in kitchens
- Construction of a new maintenance shed
- New retaining walls to strengthen site infrastructure
- Comprehensive pool upgrades
- Clubhouse redesign
- Installation of new accessible playgrounds
- Sustainability-focused improvements throughout the property
“With the continued support of partners like the Ohio Housing Finance Agency, we are strengthening the long-term viability of affordable housing communities while investing in meaningful improvements for residents,” said Perica Bell, Head of Preservation at April Housing. “We are proud to preserve these communities, where families can continue to live and thrive in high-quality, affordable homes.”
Since 2024, April Housing has preserved more than 3,000 affordable housing units nationwide.
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors, including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
