“We thank the developer for sticking with us,” Cincinnati Mayor John Cranley said. “We wanted to be good stewards and share resources as we can.”
Flaherty & Collins Properties will build the residential tower featuring 208 luxury apartments. The unit mix will consist of studio, one and two bedroom apartments, with a possibility of larger top-floor penthouse units. The project includes a 950-space parking garage and 25,000 square feet of retail space at street-level.
“There’s a migration back to the urban core,” said David Flaherty, CEO of Flaherty & Collins Properties. “Where before, in the ’50s, everyone ran to the suburbs, the opposite is going on now. So, people want to live downtown. They want to be able to walk to the action, they want to walk to work.”
The project looks to break ground in mid-2015 and will take two years to complete.