Posted October 5, 200717 yr Oakley lures $55M office, hotel BY LAURA BAVERMAN | October 5, 2007 Seven Hills Development plans to transform a blighted four-acre Oakley site into a $55 million office, retail and hotel project that may generate $1 million in tax revenue. The Midtown Centre project will include 300,000 square feet of class A office space split into two buildings, a 1,400-car parking garage, a 100- to 120-room select-service hotel and 10,000 square feet of restaurants. Located on the northeast corner of Marburg and Alamo avenues, the site is easily accessed from Interstate 71's Ridge Road south exit and has high visibility from the highway. Read full article here: http://cincinnati.bizjournals.com/cincinnati/stories/2007/10/08/story1.html
October 5, 200717 yr Oh, and here are a couple of renderings for the project: Photo Credit : Courtesy of Cole + Russell Architects Courtesy of Cincinnati Business Courier
October 5, 200717 yr I can't believe they are going to tear down some self storage units and a U-Haul rental place! How dare them! That corner has been an eyesore for sure. Good luck to them.
October 5, 200717 yr Don't forget the homeless guy that has settled in what's left of an old garage. Now we just need to fill the spot Home Depot was going to put their high end store.
October 29, 200717 yr City to enter agreements on Midtown Centre Building Cincinnati, 10/26/07 Rendering courtesy of Cole + Russell Architects Cincinnati City Council has voted unanimously to enter development and service agreements for the $55 million Midtown Centre project in Oakley. Seven Hills Development is planning 300,000 square feet of Class A office space, a 100- to 200-room hotel, 10,000 square feet of restaurant space and a 1,400-space parking garage on four acres at the corner of Marburg and Alamo avenues. The developers requested the issuance of $13.2 million in Tax Increment Financing (TIF) bonds via the creation of a Midtown TIF District to help fund both the four-story garage and the acquisition of the Midtown Self Storage property. The project site was previously part of a 25-acre TIF district created in 2002 for the Center of Cincinnati, the proposed Millworks, and a Vandercar Holdings office development that was never built. City Council amended that TIF district to include the Midtown Centre and extended the TIF's expiration date from 2032 to 2038. The bonds will be secured by a letter of credit purchased by Seven Hills Development and will be serviced by revenues generated from the project. Estimates are that the office development could create up to 1,250 jobs and generate $1.1 million in annual earnings taxes. Cole + Russell Architects has completed the preliminary design. A more detailed site and design plan still must be presented to the City. Seven Hills Development plans to break ground in early 2008 and to have the project completed in 2010. Project site Rendering courtesy of Cole + Russell Architects http://www.building-cincinnati.com/2007/10/city-to-enter-agreements-on-midtown.html
October 30, 200717 yr I think it's probably safe to stick a fork in the Millworks project as it was envisioned, but I wonder what effect this will have on future development in the surround area, such as the former Home Depot Expo site and the properties that had been acquired for Millworks? It is a prime location with great visibility and highway access so I would not be surprised to more follow as soon as this get underway. I still think a movie theater is a great idea for this area because the Norwood Showcase is a prehistoric dump and Kenwood only has a few screens. if I remember correctly City Council voted to approve funding for the Kennedy Connector, but was that contingent on the Millworks project happening? The surrounding roads in this area are ill equipped to handle the traffic they have now so I really hope that improving that aspect is part of this project.
October 31, 200717 yr if I remember correctly City Council voted to approve funding for the Kennedy Connector, but was that contingent on the Millworks project happening? The surrounding roads in this area are ill equipped to handle the traffic they have now so I really hope that improving that aspect is part of this project. I thought Millworks was waiting for the Kennedy Connector, but I'm not 100% sure.
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