City to sell 3+ acres for Oakley office, daycare

Cincinnati City Council on June 12 approved a property sale and development agreement with Morelia Group, LLC for the redevelopment of 3.145 acres opened up by the Kennedy Connector project in Oakley.

The City will sell the property, which is located just north of Ibsen Avenue, for its estimated fair market value of $650,000 – minus a $100,000 credit for utilities and other infrastructure that the developer plans to install.

The developer plans a $7.5 million project that will include a 40,000-square-foot office building and a 15,000-square-foot daycare center.

Construction of the daycare center should begin in August and be completed by next July. Construction of the office building is scheduled to begin next May and to be completed by May 2015.

A total of 150 full-time equivalent jobs will be created from the project within three years of completion.

Previous reading on BC:
Planning Commission Friday: Pogue's Garage, Hyatt, Northside redevelopment (6/6/13)