Second phase of Stetson Square breaks ground

Ground was broken this morning on the second phase of the Village at Stetson Square in Corryville, just off of Eden Avenue.

Being developed by Great Traditions Land & Development Co., Stetson City Homes will consist of 18 attached condominiums in four buildings, with prices ranging from $200,000 to $275,000 for one- or two-bedroom units. Each unit will include an attached one-car garage, private balcony, and access to community amenities.

Homeowners will receive a 10-year property tax abatement. Occupancy of the first units is expected this August.

The Village at Stetson Square was conceived in 2000 with the goal of producing a pedestrian-friendly, mixed-use community that could create a critical mass, stimulating neighborhood redevelopment around the University of Cincinnati.

Construction began in 2005 and has resulted in $84 million in project investment, including approximately 79,000 square feet of office space, 15,000 square feet of street-level retail, 205 apartment units, and 53 condominium units. The condominiums are sold out and the apartments have remained around 95 percent leased – not an easy feat in what has been a volatile housing market.

"We're pleased to be in Corryville," said Tom Humes, president of Great Traditions Land & Development Co. "We're proud to be a catalyst in Corryville, and we're looking forward to working here for years to come."

The project also sought to "stand the test of time" through the use of quality materials and quality designs – and by honoring the neighborhood's architectural history.

"These are people who understand what it is to build a great urban environment," said Vice Mayor Roxanne Qualls. "This is a model that, quite frankly, I hope we can replicate in other neighborhoods."

Project partners include the Corryville Community Council and Corryville Community Development Corporation, Uptown Consortium, and the Cincinnati Development Fund. The City of Cincinnati is contributing $340,000 toward streetscape and infrastructure improvements.

Humes said that the partnership has been critical to the success of the project.

"That is one of the reasons that I think our City is really, really taking off," he said. "The City has been a true leader in our urban renaissance."

Previous reading on BC:
Council approves 18 more condos for Stetson Square (8/6/12)
Funding appropriated for four streetscape projects (7/3/12)
Overlook at Eden Park and Stetson Square photo update, 7/6/08 (7/10/08)
Stetson Square photo update, 12/17/07 (12/19/07)
Stetson Square photo update, 9/28/07 (10/1/07)