Six months ago, we reported on 11 residential developments moving forward in the Central Business District, Over-the-Rhine, and Pendleton. At the time, these were expected to add about 1,500 new units of housing to the urban core. Although one of these projects has been downsized and another postponed, one new residential project was announced as well.
Most notably, the proposed tower at Fourth and Race was downsized from 300 to 200 units, and the grocery store that would have been located on the ground floor of the building has been dropped from the plan.
The Cincinnati Center City Development Corporation (3CDC) is also shelving its plans for a new mixed-use project at 15th and Race, which would have added 57 residential units. However, 3CDC is also shelving its plan to build 53,000 square feet of office space as part of the third phase of Mercer Commons, and is considering building more residential at that location. The first two phases of Mercer Commons contain 126 apartments and 28 condos in addition to retail space.
Finally, the proposal to bring an AC Hotel to the former School for the Creative & Performing Arts (SCPA) in Pendleton has been scrapped. Developers are now moving forward with an alternate plan, which will convert the building into 155 market-rate apartments.
The other projects still moving forward include:
- Phase two of The Banks broke ground in April 2014. It will contain 305 new apartments and 21,000 square feet of retail space, in addition to a new office tower for General Electric.
- AT580, formerly known as the 580 Building, is being converted from office space into 179 apartments. The existing retail spaces on the first and second floors will remain.
- The Seven at Broadway project will feature 110 high-end apartments, built above an existing parking garage. The target demographic for these units will be empty-nesters and older professionals looking for downtown living, according to Rick Kimbler, partner at the NorthPointe Group.
- Broadway Square, a $26 million development, is now under construction in Pendleton. Its first phase will feature 39 apartments and 40,000 square feet of retail space, and developer Model Group will add at least another 39 apartments in the second phase of the project.
- The Schwartz Building, formerly vacant office space, is being converted into 20 apartments. Developer Levine Properties cited the building’s location along the Cincinnati Streetcar route as a driving factor for the renovation.
- The Ingalls Building will be redeveloped into 40 to 50 condos and ground-floor retail space by the Claremont Group.
- Peak Property Group plans to purchase and renovate three buildings on Seventh Street into 75 apartments and 15,000 square feet of retail space.
- Developers of the Fountain Place retail building want to add 180 to 225 residential units above the existing Macy’s department store.