Monday, January 17, 2011

Corryville apartment project receives LEED tax exemption

A 16-unit, 64-bed Corryville apartment project geared toward university students has received a Community Reinvestment Area LEED tax exemption agreement from Cincinnati City Council.

Uptown Rental Properties has registered the $3.8 million Jefferson/Glendora Apartments, at the corner of Jefferson Avenue and W Charlton Street, as a U.S. Green Building Council LEED for Homes (Multi Family) 1.0 project.

The 15-year, 75 percent property tax exemption will reduce the project's tax liability by $899,400 over the life of the agreement.

City Council approved the rezoning of the property in August 2009. The 21,204-square-foot building is expected to be completed by December.

Previous reading on BC:
Rezoning approved for UC student apartments (8/11/09)
Cincinnati EDC to consider rezoning for UC student apartments (7/28/09)