Wednesday, September 5, 2012

3CDC buys endangered buildings on lower Main Street

Three Downtown buildings that faced an uncertain future may have found redemption.

On August 15, Cincinnati Center City Development Corporation (3CDC) affiliate CBD Holdings Inc. purchased the buildings at 308, 312, and 316 Main Street from Asset Ohio Fourth Street LLC for $10.

The three properties, assessed by the county auditor at nearly $1.28 million, have been held in trust since 2003 by the affiliate of Convergys Corporation. Many had speculated that the buildings eventually could be lost to office expansion.

All three buildings, built between 1875 and 1890, are vacant. There are no building code violations.

Anastasia Mileham, vice president of communications with 3CDC, toured the buildings a few weeks ago.

"They're not in good condition at all," she says. "Really just shells."

3CDC has no specific plans for the buildings, Mileham says.

"We're just stabilizing and holding for future residential and potential street level commercial," she says.

Previous reading on BC:
Photos: Washington Park, pre-opening (8/13/12)
3CDC annual report: 'The work is never done' (7/18/12)
'Everybody's' Washington Park reopens in Over-the-Rhine (7/9/12)
Agreements approved for Fifth and Race (7/2/12)
Ohio Dept of Development, Fed Home Loan Bank award money for projects (6/28/12)