Black CRE Developer Plans to Bring HQ Project to Walnut Hills

Black CRE developer plans to bring HQ project to Walnut Hills bizjournals.com/cincinnati/news/2021/03/30/black-cre-developer-plans-to-bring-hq-project-to.html

Robert Sanders, principal of Sanders Development Group, plans to redevelop the building at 921 Curtis St. into a new headquarters for TriVersity Construction Co.

By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier Mar 30, 2021 Updated Mar 30, 2021, 10:12am EDT A Black-owned commercial real estate development firm is working on a redevelopment project that will bring a company’s headquarters to Walnut Hills.

Sanders Development Group LLC, launched in 2020 by Robert Sanders, is working on the redevelopment of three parcels located near the neighborhood’s historic Peebles Corner.

There, he plans to acquire properties on Curtis Street and St. James Avenue that are either vacant, distressed or being used for parking and renovate them into a new development that will include the headquarters for TriVersity Construction Co. This is the first major development for Sanders Development Group. Sanders, principal of Sanders Development Group, said the project is expected to bring dozens of jobs to Walnut Hills and be a total investment of about $4 million.

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“It’s important for us to do the right type of development that we thought was needed for the neighborhood,” Sanders told me.

Sanders will partner with Terrex Development & Construction LLC on the development project. Tom Rowe, principal and co-founder of Terrex, said there are very few minorityowned real estate development firms in Cincinnati. Sanders had worked with Terrex while he was with the Port and they stayed connected when Sanders launched his own firm.

“We know how hard it is to start a company,” Rowe told me.

Sanders had put the put the redevelopment deal together, connecting with TriVersity CEO Mel Gravely. Terrex is using its additional horsepower to help take the finish line.

“We hope to support Robert in the future on other projects,” Rowe said. “Based on his personality, capabilities and approach, I’m sure there are other partners that will want to work with him as well.”

Sanders also said he hopes this is the first of many projects the two development firms work on together.

“Once you find someone whose mission aligns with yours, you try to do more projects,” Sanders said.

The project will keep the existing building at 921 Curtis St., which is just south of Peebles Corner. TriVersity will lease the renovated building, a 21,000-square-foot space. This building will be completely renovated, including a new façade.

The neighboring parking lot, which is currently owned by Model Group, also will be acquired to provide parking for TriVersity employees. Model Group will shift its parking to the former Kroger store on East McMillan Street. A third property, located at 2363 St. James Ave., also will be acquired by the developers from Model Group.

Sanders and Rowe said they plan to list this 10,000-square-foot space for lease shortly after acquiring it. Rowe said it could be used for light industrial or storage space.

Sanders first saw the site’s potential while he was director of commercial development at the Port of Greater Cincinnati Redevelopment Authority. He worked with public, private and philanthropic investors to help revitalize distressed properties and find gap financing to help small locally and minority-owned enterprises to rent new storefronts along McMillan Street and in Bond Hill’s business district.

Bringing in TriVersity will help those existing businesses, as workers will be able to walk a short distance to places such as Just Q’in and Gomez Salsa.

Growing up in Over-the-Rhine and Walnut Hills, Sanders lived in public housing with his grandmother.

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“She placed a very high value on education, which is again why I stand where I do today,” Sanders said.

After graduating from Taft High School and the Ohio State University Fisher College of Business, Sanders returned to Cincinnati, working in commercial real estate and business banking. He worked for Corporex Development & Construction and then spent several years as a business lending officer before joining the Port in 2016.

He said it is meaningful to be able to come back to a neighborhood he grew up in and invest and “be a part of everything that is happening.”

Sanders Development Group and Terrex Development & Construction are the developers for the project, with TriVersity as the general contractor. Elevar Design Group is the architect for the project.

Sanders said the coronavirus pandemic hindered his ability to meet with people in person.

That meant putting relationship building on hold, so Sanders focused on smaller projects and consulting last year.

Sanders has met with Walnut Hills community members to get neighborhood input on the project. He is finalizing details of property acquisition with Port of Greater Cincinnati Redevelopment Authority and Model Group.

The project team is finalizing project and site details. The plan is to start work on the project this summer, with a goal of having TriVersity in its new location by early 2022.

Sanders Development Group focuses on commercial real estate investment and development, with expertise in working with corporate office and industrial real estate users. The firm provides site acquisition and due diligence, contract negotiation, deal structuring and financing, feasibility, entitlements, lease negotiations, construction, and asset management.

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