A groundbreaking ceremony was held this week in Norwood near Cincinnati as developer Jeffrey R. Anderson Real Estate Inc. began construction on its Rockwood Exchange development. The project is being financed by US Bank with Schumacher Dugan overseeing the construction. According to a Business Courier article, the 12-acre project has been in the works since 2003, when Anderson bought up almost all of the properties on the three-block area needed for the Exchange. Five property owners held out, prompting five years of legal battles, which ended just as the recession began.
The $100 million mixed-use project will include 15,000 square feet of single story retail, 230,000 square feet of retail, entertainment, and office space, plus two food restaurants and a parking garage. Anderson and Brandicorp have also partnered together on a 123-key Courtyard by Marriot within the development that's expected to open Spring 2013.
"When you get first-class projects like this in your community, it's going to have a ripple effect," said Mayor Tom Williams of the project in a Cincinnati Enquirer article last October. "This shows we're starting to move."
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment