City Planning and Engagement

 

Background: 

In 2021, the City Manager directed the Department of City Planning and Engagement to conduct Community Engagement activities for projects that meet the following criteria:

1. When the City Administration will propose to Council an appropriation for a loan or grant of public funds of $50,000 or more to support a specific private development project; or

2. When the City will sell or provide a long-term ground lease of City-owned land or buildings with a fair market value of $50,000 or more to support a specific private development project

Proposed Project:

Findlay Parkside is the redevelopment of 10 buildings in the Over-the-Rhine neighborhood near Findlay Market and Findlay Park. This project is part of a $125M master plan for the broader Market District. The project will produce 51 mixed-income residential units, a mixture of studios, one-bedroom units, and two-bedroom units, and approximately 16,456 square feet of commercial space. 51% of units will be affordable at 80% of Area Median Income. The project will seek LEED Silver certification.

Total project cost is estimated to be approximately $28.4M, with construction cost at approximately $15.7M. Construction is projected to take approximately 16 months. Project is estimated to support the creation of 168.5 temporary construction jobs with an estimated annual payroll of approximately $4.2M and 48 full-time permanent jobs with an estimated annual payroll of approximately $1.1M.

The applicant has applied for a commercial tax abatement and $2.295M in TIF funds from the Downtown/OTR West District TIF. The City has not made a formal incentive offer yet as the project is still in underwriting. Any use of TIF funds will require approval by City Council. The applicant aims to close on financing in April.

Project Locations:

Past Meetings:

• Virtual Community Engagement Meeting | Notice
  Monday, April 17, 2023 at 4:00 p.m.