Construction Work on $30M Corryville Apartment Project On-Pace for Fall 2015 Completion

Uptown Rental Properties is making progress on their latest development in Corryville. This one, called VP3, is located on Euclid Avenue between Corry and Charlton Streets, and will add 147 units with 300 beds to the neighborhood. If all goes according to plan, the $30 million project will open in the fall of 2015.

The site previously included seven homes and a suburban-style Fifth Third Bank retail branch, and is located across the street from the planned site for a new Kroger grocery store.

Corryville has seen a wave of private investment recently that has added hotel rooms, apartments, and retail and office spaces. Much of that investment has come from Uptown Rental Properties, which has constructed hundreds of new residential units and injected thousands of new residents into Corryville over the past several years.

According to Dan Schimberg, president of Uptown Rental Properties, the demand for additional housing units in Corryville is so strong that they have revised their original plans over the years to try to serve the market.

“There is such an incredible demand for housing on the east side of campus,” Schimberg told UrbanCincy. “Originally our plan was to build housing for 1,200 people on Short Vine, but now we’ve increased that total to 1,600 by 2016.”

For better or worse, all of this development is changing the face of Corryville.

But unlike many of the company’s other developments surrounding the University of Cincinnati, it is not just students occupying the residential units being built in this area. According to Schimberg, more than 30% of the total residents are non-undergraduate students, compared with just 3% on the south side of campus – something he attributes to the growing demand for urban living.

“Three of the top five largest employers are in Uptown, and then have been adding thousands of jobs over recent years,” Schimberg explained. “What we’re seeing is a demand for workforce housing on the east side of campus from a desire for people to live in a more urban environment.”

In addition to the increased demand for urban living and the rapid job growth nearby, Schimberg believes the improvement of Uptown neighborhoods is also keeping and attracting residents in a way he has not seen since starting Uptown Rental Properties nearly 30 years ago.

It is expected that work will wrap up on the four-story VP3 development in the fall of 2015. At that time, a new 550-space parking garage, being built in coordination with this project, will open and provide some 225 public parking spaces for the Short Vine business district.

“The addition of these new residents is providing the core demand for the retail, and the residents get to benefit from those nearby services,” Schimberg continued.

Due to the philosophy of wanting the retail and residential to benefit one another, Schimberg said that the public portion of the parking garage is being built solely to help bolster the business on Short Vine. As a result, Uptown Rental Properties and the City of Cincinnati are sharing the costs for the garage.

Since developers are pursuing LEED Gold certification from the U.S. Green Building Council, the project will be eligible for the City of Cincinnati’s LEED Tax Abatement.

  • http://5chw4r7z.com 5chw4r7z

    I thought Kroger was going to close that store after building a new one at the new 71/MLK exchange.

    • http://www.UrbanCincy.com/ Randy A. Simes

      The redevelopment of that Kroger has been one of the biggest mysteries in recent Cincinnati history.

    • http://zacharyschunn.wix.com/ Zachary Schunn

      Now I’m confused. There have been plans to redevelop the Corryville Kroger since about 2010… the drawings are public and the timeline was always late 2014 due to some lease issues. What is the 71/MLK Kroger? Have they scrapped Corryville?

    • http://travisestell.com/ Travis

      It’s all rumors and speculation at this point. Some are saying that the Corryville store will be scrapped and a new store built on MLK.

    • http://www.UrbanCincy.com/ Randy A. Simes

      There have actually been plans to redevelop that Kroger since the early 2000s.

      The MLK Interchange Kriger is one of rumor right now, but people are saying that Kroger is now thinking of building another mega store near there and then shutting down both their smaller stores in Corryville and Walnut Hills.

    • http://zacharyschunn.wix.com/ Zachary Schunn

      Any source for the rumors? I’ll check with my Kroger contact. That could actually be a blessing in disguise as it’d open up two prime development sites for urban re-development.

    • CollegeHill_45224

      They’re demolishing the old Kroger building on Hamilton Ave. in College Hill, Thursday at 10:00 am. I hope we get some new apartments and restaurants in that area.

    • http://www.UrbanCincy.com/ Randy A. Simes

      That would be fantastic! That’s an excellent location and could totally change that neighborhood business district for the better.

  • matimal

    “300 beds”? Sounds like a hospital. That’s an odd way to describe an apartment building. How do we know how many beds will be in the building? Is the owner planning on regulating the furniture within apartments?

    • http://www.UrbanCincy.com/ Randy A. Simes

      You regulate it by bedrooms. Of course, you could, in theory, have someone install a bunk bed, but I doubt that the demographic renting these units is installing bunk beds. With that said, I’m sure you have many people in this area living together that are not related, hence the odd description of number of beds instead of number of units.

    • http://5chw4r7z.com 5chw4r7z

      This seems common in places intended for students. Some of the apartments in University park have four beds. Two small rooms with two beds each surrounding a common area. I suspect that developers can collect more money charging by the bed instead of by the apartment.

    • matimal

      I thought this wasn’t just intended for students.

    • http://5chw4r7z.com 5chw4r7z

      I was talking about places intended for students. It seems odd to label apartments for non-students that way.

  • http://travisestell.com/ Travis

    It is a little hard to tell from the provided site plan, but it looks like the only entrance to/from the garage is on Euclid. Too bad they are still including a surface parking lot when the entire development is being built on top of a garage.

    • http://www.UrbanCincy.com/ Randy A. Simes

      There are two entrances. One is for the lower level which is for residents only, and one is for the second level which is for public use only. They essentially act as two different garages.

    • EDG

      I was wondering about having two full access garage entrances in between what look like liner townhouses, but I don’t think this had to go through the UDRB so whatever. Just like the Hyde Park project, a huge development near the neighborhood business district but just outside of any substantial design review.

  • Jake Mecklenborg

    I suspect that the recent home demolitions on the north side of Taft indicate that another developer is assembling a site for a similar apartment complex at Taft & Euclid. Meanwhile a complex on the east side of the 2700 block of Euclid is blocked by the old lady at 2716 who refuses to sell.

  • stooge

    Another Soulless Formulaic approach to development. hopefully those trees will grow big enough to hide it

  • Rob T

    While redeveloping some of the less desirable parts of Corryville is awesome. it is hard for me to get excited about this project. Uptown Properties was the worst landlord I ever had, or have dealt with around UC. The building I lived in was not maintained very well. To me that was a shame because I lived in Clifton near Ludlow Ave. The building was huge (it had multiple apartments 1000+ SF), marble stairs, claw foot tubs originally(Uptown replaced them with some ugly new non-claw-footed tubs that didn’t allow the door to open fully) and many other features. I hope other developers will continue to build housing/retail spaces similar to U Square on Calhoun St. in the uptown neighborhoods, especially Corryville which is a great neighborhood.