Business Development News

MC3 Group to partner with Northside Business Association to revive historic property

A public-private partnership between the Northside Business Association (NBA) and local development company MC3 Group has resulted in a $200,000 grant from the City of Cincinnati to rehabilitate the Landman Building, located at 3929 Spring Grove Avenue. After an unrelated funding request fell through, funds were reappropriated through the city’s Neighborhood Business District Improvement Program (NBDIP) due to the project’s shovel ready condition.

The venture will redevelop the property into office space, potentially with street-level retail or entertainment. The building and its location are seen as a key to success in the “South Block” of Spring Grove Avenue and the recent investment that has been made in the area. MC3 has developed the surrounding properties, with a $675,000 renovation project taking place across the street. There are also plans for a new restaurant and bar next door.

“The proposed project will support the business district and the community as a whole,” stated MC3 Group in the proposal submitted to the Northside Business Association. “It will take a prominent troubled and obsolete property and repositioning it as an attractive and productive asset for the community.”

The shortlisted tenant for the space is Cincinnati State, who would potentially use the space as a sustainable research and development facility or as part of their renowned culinary program. The $680,000 project was also funded through $100,000 of cash or in-kind equity and $380,000 from the Northside Bank & Trust.

Northside Business Association treasurer Don Beimesche says that the neighborhood is especially thankful for the financial assistance that has taken the project off the drawing board and into reality.

“Without the financial assistance from the City of Cincinnati, the Landman Building would remain a vacant eyesore between two renovated buildings at the gateway to the Northside Business District,” Beimesche concluded.

Landman Building photograph by UrbanCincy contributor Jake Mecklenborg.