Many of our renovation/rehab projects have been located in the inner city. The combination of the reuse of existing buildings, historic preservation, and encouraging residents to move downtown has been a winning combination for Cincinnati.

OVER-THE-RHINE DEVELOPMENT FUND

Model Group Vine Street Redevelopment 1311-1315, 1324-26, 1332-42 Vine Street; 1314 — 1316 Republic
Developer: OTR Vine Street Property Investments (The Model Group Inc.)
Type of developer: For-profit
CDF loan amount: $150,000
Pre-development costs: $150,000
Project type: Residential renovation, commercial construction, demolition of blighted properties and the creation of residential and commercial parking, mixed use
Location: Over-the-Rhine

A predevelopment loan of $150,000 provides a critical portion of the gap financing necessary to make this project work and serves as a catalyst to get the project moving.  Other subsidy will come from the City of Cincinnati Community Development Block Grant.

When completed, the project will revitalize the 1300 and 1400 blocks of Vine Street with hopes of pulling the development momentum down the Vine Street Corridor.  Mixed use development that includes the demolition of 3 buildings, Shalash Food Market, Barn and Venus, residential renovation of 1311 — 13 Vine, 1315 Vine and 1314 Republic and 1332- 42 Vine, commercial construction of 1324 Vine Street office complex and parking additions at 1316 Republic (12 spaces), 1324 (TBD) & 1326 Vine (10 spaces).  1311 — 15 Vine will be renovated into 12 condo units with a total of 17,300 s.f. of residential space and 6,300 s.f. of commercial space. 1332-42 will be renovated into 9 condo units with 10,100 s.f. of residential space and 6,400 s.f. of commercial space. 1324 Vine Street will be new construction of 15,000 s.f. of commercial office space with pre-leased tenants for 75% of the building.  This project is a continuation of the work being done in the Gateway Quarter south of 13^th Street, focused on Vine.

For more information about this project and others from this fund contact CDF. (Link to our email)

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