Wednesday, July 7, 2010

Incline District project wins $750K grant

Incline Village, the first phase of a long-awaited East Price Hill project, got a boost last week when Cincinnati City Council approved a $750,000 grant.

The three-story, 14,850-square-foot apartment building will feature 15 market-rate apartments of approximately 750-900 square feet apiece, with outdoor space and panoramic views of the Cincinnati skyline and Mill Creek valley.

A commercial restaurant space of 2,500 square feet with an outdoor beer garden is also part of the project.

The $2.5 million project will be built along the hillside above Maryland Avenue, near Queens Tower and Primavista restaurant. An additional $750,000 will be spent on restaurant buildout costs.

The City grant will be repaid through revenues from the East Price Hill tax increment financing (TIF) district.

Incline Village is part of a larger, multi-phased development called Incline Square. Future phases will include a 20,000-square-foot medical office building and additional restaurant and entertainment spaces.

Investment partners include former Cincinnati City Councilmember John Cranley, JTM Food Group Principal Joe Maas, and real estate investors Don Johnson, Dave Overbeck, and Jeff Woodward. Woodward Construction will serve as the general contractor.

Previous reading on BC:
Rezoning passes for Incline Square (6/11/08)
EDC to consider Incline Square zoning (6/2/08)
PC to consider Incline Square rezoning tomorrow (5/1/08)
Hearing on Incline Square rezoning Wednesday (4/22/08)
City moves to recognize Incline District (3/26/08)