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‘The Gallery at Kenwood’ in Cincinnati Pressing Forward By Irwin Rapoport CEG CORRESPONDENT
The demolition of 22 two- to three-story apartment buildings on the block bound by Kenwood Road, Happiness Way and Festive Court, a 10-acre site, began in the northeast section of downtown Cincinnati in late January to make room for the construction of the Capital Investment Group LLC’s (CIG) $130 million project — The Gallery at Kenwood. The project contains several components: a 115,000 sq.-ft. Class A rectangular-shaped office building; a six-story, 130-room, glass clad (curtainwall) hotel with a ground floor restaurant; a luxury apartment building with 248 units (studio, one, two and three bedrooms); and a five-story parking garage with 280 private parking spaces and 633 public parking spaces, which The Port of Greater Cincinnati Development Authority is providing much of the financing for. The demolition, which is being done by the O’Rourke Wrecking Company, and the construction of Phase 1 — the residential and office components — is being done by Al. “This project has been a long time in the making and we appreciate the hard work from all of the stakeholders that have been involved in the project, including the neighborhood, Sycamore Township, the Port and Hamilton County,” David Bastos, CIG’s president, said in a press release about the project. “These large mixed-use developments require both a huge time and financial investment by all stakeholders and we very much appreciate all that everyone has done to make this project a reality.” Gregg Fusaro, regional partner of CIG, also stated in the press release, “Kenwood is the number one suburban office and retail sub-market in the entire region and we are excited to have this transformative development be part of the continued success of the corridor.” CIG is in the midst of negotiating with hotel operators to develop the hotel site and
The demolition of 22 two- to three-story apartment buildings began in the northeast section of downtown Cincinnati in late January to make room for the construction of the Capital Investment Group LLC’s (CIG) $130 million project — The Gallery at Kenwood.
“This project has been a long time in the making and we appreciate the hard work from all of the stakeholders that have been involved in the project, including the neighborhood, Sycamore Township, the Port and Hamilton County.”
David Bastos
Capital Investment Group
that should start in late summer. According to CIG’s press release, these luxury apartments will be the first to be constructed in the Kenwood area in nearly 60 years. The Gallery at Kenwood, when delivered, is anticipated to generate more than $160 million in economic impacts, as well as 864 permanent jobs and close to 870 construction jobs. The CIG project is the latest massive development in the area. It will be joining Montgomery Quarter and The Neighborhoods at Summit Park. see GALLERY page 4