Tuesday, April 2, 2013

Demo Starts on New $75M Mixed Use Development in Cincinnati

The Port of Greater Cincinnati Development Authority started work this week on the site of the former Swifton Commons in Cincinnati, a $75 million mixed-use project that will help remake Bond Hill. The Port of Greater Cincinnati Development Authority recently finalized the purchase of 25 acres and has begun removing structures, including a 32-foot billboard-style sign that has marked the Reading Road/Seymour Avenue intersection for more than four decades.

"Today is another great day for Cincinnati," Mayor Mark Mallory told about 200 Bond Hill residents, community, business, port authority and city leaders. "This redevelopment represents the City's first investment injection from our new Focus 52 program fund, created just for transformational projects such as this one."

Full demolition on the blighted 250,000-square-foot outdoor shopping center is expected to begin June 1, according to a Cincinnati.com article. In December, the city decided to give $6.2 million to the port authority for redevelopment of the site, at a location once considered the northern gateway into Cincinnati.

For more news and information visit Blumberg Capital Partners.

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