City to sell vacant OTR building to developers

Cincinnati City Council has voted unanimously to sell a building near Findlay Market to a developer who plans to create the area's first market-rate homeownership units.

Urban Studio LLC, formerly known as D. Build, LLC, wants to convert the vacant building at 1720-1722 Pleasant Street (BIRD'S EYE) into 3 condominiums.

The Urban Studio LLC development team of Matthew Wirtz and Jennifer LeMasters entered into a preferred developer agreement with the City in 2005 after the building was offered as one of 20 properties in the City's RFP (request for proposals) process.

The building is currently a shell, but has had its exterior improved with pale yellow paint and a new multi-level Trex deck.

Wirtz and LeMasters have said that they soon will begin aggressively marketing the condos, and work will commence on the interiors once one of the units is pre-sold.

The pair also own three buildings across the street at 1703-1707 Pleasant Street, which they eventually plan to rehabilitate into condominiums and single-family housing arranged around a common courtyard.

They say that their eventual goal is to provide both apartments and homeownership units along Elder Street and on the streets surrounding the market house.

Previous reading on BC:
City may sell 1720-1722 Pleasant Street for redevelopment (3/26/08)