Ohio awards nearly $9M in historic tax credits to seven Cincinnati-area projects

Seven Cincinnati-area developments have been awarded nearly $9 million in tax credits from the Ohio Development Services Agency (ODSA) through the state’s historic preservation program.

Six of the seven area projects are located within the City of Cincinnati, and one is located in downtown Hamilton. The Cincinnati-area projects took home nearly 25 percent of the total $35.9 million distributed in the program’s ninth round of funding, and will create more than 130 new housing units and tens of thousands of square feet of commercial space once completed.

“The Historic Preservation Tax Credit puts empty buildings back into the economic cycle, creating jobs through construction activities and reoccupation of the buildings,” Christiane Schmenk, director of the ODSA, stated in a prepared release. “This program saves some of the state’s most significant historic structures.”


Eden Park’s 118-year-old pump station may soon see new life as a micro-brewery thanks to a $1 million tax credit from the State of Ohio. Rendering provided.

According to state officials, projects receiving funding must complete the rehabilitation work in accordance with the U.S. Secretary of the Interior’s Standards for Rehabilitation before the credits are issued to the building owner or long-term tenant.

More than $3.3 million in funding will flow into Over-the-Rhine for Losantiville Apartments, Abington Flats, and Pendleton Apartments through the program, and the Cincinnati Center City Development Corporation (3CDC) was awarded $1.8 million for its $9 million redevelopment of three historic buildings at Third Street and Main Street in the central business district.

“Without it [Ohio Historic Tax Credit] we would be unable to preserve the historic character of as many buildings as we have,” Anastasia Mileham, 3CDC’s vice president of communications, told UrbanCincy. “The cost to restore and develop them costs more than the what you can sell the condos for and lease the commercial space for. Historic tax credits help fill that gap and make the math work.”

In Mt. Adams, the Cincinnati Beer Company was awarded $1 million for its $5.2 million project that will transform Eden Park’s 118-year-old pump station into a brewery and tap room. Nearby, the Walnut Hills Redevelopment Foundation and The Model Group were awarded $1.8 million to renovate three historic structures into 30 market-rate housing units and approximately 7,000 square feet of street-level commercial space.

Elsewhere, the City of Hamilton will see more than $800,000 go towards the renovation of the 126-year-old Hamilton Journal-News Building, which will become the home of Butler Tech’s School for the Arts and Hamilton City Schools’ Adult Basic & Literacy Education (ABLE) program.

According to ODSA, this round of funding will assist in the rehabilitation of 45 historic buildings throughout the state, and leverage more than $252 million in private investments.

This Week In Soapbox 8/18

This Week in Soapbox (TWIS) you can read about the new upgrades for Cincinnati’s premier tennis tournament, a new restaurant in Covington with a European flair, a brownfield to alternative energy project in Hamilton, new homes in Avondale, the Northern Kentucky Regional Farmers Market, and a special event in historic Over-the-Rhine.

If you’re interested in staying in touch with some of the latest development news in Cincinnati please check out this week’s stories and sign up for the weekly E-Zine sent out by Soapbox Cincinnati. Also be sure to become a fan of Soapbox on Facebook!

TWIS 8/18:

  • Cincinnati tennis tournament growing with $10M expansionfull article
  • $780,000 gift to produce second of ten homes for Cincinnati Habitatfull article
  • $2M Clean Ohio grant could turn Hamilton brownfield site into alternative energy facilityfull article
  • Over-the-Rhine: Cincinnati’s Overlooked Opportunityfull article
  • Northern Kentucky Farmers Market brings fresh produce and fun atmosphere to Mainstrassefull article
  • Europa opens on Main Street in downtown Covingtonfull article

This Week In Soapbox 5/26

This Week In Soapbox (TWIS) you can read about the Gateway Quarter Expansion Tour coming up this weekend, positive changes happening in downtown Hamilton, new businesses opening in Over-the-Rhine, update on the City’s pilot sharrow program, a century old church being converted into condos in Bellevue and the City’s efforts to clean up and redevelop a downtrodden piece of property in the West End.

If you’re interested in staying in touch with some of the latest development news in Cincinnati please check out this week’s stories and sign up for the weekly E-Zine sent out by Soapbox Cincinnati.

TWIS 5/26:

  • Gateway Quarter celebrates latest additions with Expansion Tourfull article
  • Downtown Hamilton reimagining center city through development and artsfull article
  • New businesses opening in Over-the-Rhinefull article
  • Sharrows coming to a street near youfull article
  • Century old church in Bellevue to be converted into contemporary loftsfull article
  • Cincinnati applies for funds to redevelop Providence North sitefull article