Indianapolis Developer to Continue Oakley’s Housing Boom with 272-Unit Project

Yet another Indianapolis-based developer is entering the hot Cincinnati residential market. This time the developer is Buckingham Companies and the location is Oakley.

According to the Business Courier, an UrbanCincy content partner, Buckingham has been eyeing the Cincinnati market for some time. They decided that now was the time to move on the seven-acre site immediately southeast from the $120 million Oakley Station development which will include nearly 600,000 square feet of office and retail space, 302 apartments and a movie theater at full build out.

The developers are citing the location’s close proximity to Downtown and the neighborhood walkability offered in now-booming east side city neighborhood as the main draws.

Buckingham hopes to break ground on the project this May and open the summer of 2015. At full build out the project will include 272 apartments in seven, three-story buildings. Residences will range from 812 to 1,600 square feet and likely cost around $1 to $1.50 per square foot.

The development says that they will pursue LEED for Homes, the U.S. Green Building Council‘s newest Leadership in Energy and Environmental Design certifications, for the project.

The site is located immediately adjacent to a freight rail line owned by CSX, and currently includes two industrial warehouse buildings and approximately 11 single-family homes along Cardiff Avenue. Both the homes and the warehouses date back to the early 1900s. Initial reports indicated that the developers may renovate one of warehouses into 41 apartments.

The project announcement comes immediately after the developers acquired seven of the properties earlier this week. Of the remaining five homes, three are held by separate, unaffiliated LLCs and the other two are listed by the Hamilton County Auditor as owned by individuals who live elsewhere.

Episode #13: 2012 in Review

On the thirteenth episode of The UrbanCincy Podcast, the UrbanCincy team discusses Cincinnati’s major accomplishments in 2012 and looks forward to what’s coming in 2013.

Travis Estell, Randy Simes, Jake Mecklenborg, and John Yung are joined by Chris Cousins of UrbanOhio to talk about a number of downtown developments, including the Smale Riverfront Park, Washington Park, new businesses at The Banks and in Over-the-Rhine, the Fort Washington Way caps, and the Brent Spence Bridge. We also discuss USquare in Clifton Heights, Short Vine in Corryville, and developments in Walnut Hills. We discuss why projects like Oakley Station and Rookwood Exchange are missed opportunities.

Finally, we reflect on how UrbanCincy has changed in 2012, with new events like URBANexchange, and look back on our first year of The UrbanCincy Podcast.

Smale Riverfront Park photo by Thadd Fiala.

Kennedy Connector construction underway

Construction began this week on the Kennedy Connector, a roadway extension designed to improve access to I-71 from the neighborhoods of Oakley and Pleasant Ridge. The roadway will also provide access to the Oakley Station development now under construction. More from Building Cincinnati:

The first phase of the two-year, $30 million project began in three locations: On Ibsen Avenue, which will be closed between Marburg Avenue and Ridge Road and will be open on weekend afternoons; on Ibsen Avenue between Ridge and Madison roads, which will be closed until crews can install two new water mains later this summer; and at the intersection of Duck Creek Road and Kennedy Avenue, where a temporary roadway is being built so that construction crews can eventually build the new extension of Kennedy Avenue.