Tuesday, June 8, 2010

65 West wins LEED tax exemption

The developers of the 65 West student apartments in Clifton Heights will receive nearly $5.1 million in property tax relief for their $16.7 million, 129-unit project.

Cincinnati City Council approved the 15-year Community Reinvestment Area LEED tax exemption agreement last week, paving the way for the 126,000-square-foot, four-building gated complex to begin construction on the former Friars Club property at the corner of W McMillan Street and Ohio Avenue.

Uptown Rental Properties and North American Properties are developing the project, which will house one-, two-, and four-bedroom apartments in three-story buildings. A workout room and clubhouse is also planned.

Demolition of the 80-year-old Friars Club building began May 1. The demolition of several houses along Ohio Avenue and Cliff and Van Lear streets continues.

65 West has been registered with the U.S. Green Building Council as a LEED-NC 2.2 (new construction) project.

Completion is expected by mid- to late 2011.

The Friars Club vacated the property in 2006 due to high maintenance costs and size constraints.