4th & Race Project Begins Construction in Downtown Cincinnati

4th & Race - Rendering 1

CINCINNATI – Flaherty & Collins Properties and 3CDC (Cincinnati Center City Development), partnering with the City of Cincinnati, officially began construction of the 4th & Race project in Downtown Cincinnati on Thursday.

The project, which has gone through multiple iterations during roughly four years of planning, will ultimately consist of an approximately 700-space above-grade parking garage, 23,000 square feet of street-level commercial space, and a 225-unit apartment building. The $82 million mixed-use project will be built on the site currently occupied by Pogue’s Garage

“We have a great team in place, a great design, and we made a deal that everyone is happy with,” said Mayor of Cincinnati, John Cranley. “We’re going to activate a space that had been a drain on the area, and build momentum with the already great retailers that line the other side of 4th Street and the surrounding area.”

The project kicked off construction – managed by Turner Construction – with the demolition of Pogue’s Garage. The City will maintain ownership of the garage, with 3CDC managing its daily operations. In addition, 3CDC will retain ownership of the commercial space, while Flaherty & Collins Properties will own and operate the 14-story luxury apartment tower.

“We are excited to work with the City, Mayor Cranley and 3cDC to make this project a reality,” said Jim Crossin, Vice President of Development for Flaherty & Collins Properties. “This project has been four years in the making and a terrific example of what public-private partnerships are all about: working together to create a development that meets the goals and objectives of the city and its residents.”

The site, located at the corner of Fourth and Race streets in downtown Cincinnati, has been the target of improvement. The project is set to bolster the vision of a walkable, bikable, sustainable, connected city, where arts and culture thrive. The project is expected to bring an estimated 350 residents to downtown Cincinnati with disposable incomes that will help support downtown businesses.

“This is a great day for the city, as we continue to make improvements to Cincinnati’s core with projects like this taking place in the Central Business District,” says Harry Black, City Manager of Cincinnati “The key to vibrancy in any city is feet on the streets, and we’ll be adding plenty of those with these new apartment units and retail space, along with another excellent parking option in the CBD.”

“When you make an investment in the urban core of your city, not only does it benefit the residents and nearby businesses, but it provides a real identity for the entire community,” said Crossin at the groundbreaking event. “There is a ripple effect that resonates out and benefits everyone who lives and does business in Cincinnati.”

The garage and commercial space portions of the project are expected to be completed in the summer of 2018, with the residential component finishing in early 2019.

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