From art museums to botanical gardens to stadiums to parks, the city of Cincinnati in Ohio has it all. Ranked one of the best places to live in the United States of America, it boasts a diverse economy, low-cost living, excellent family-friendly streets, and a boatload of jobs.
But, Jared Kamrass of Cincinnati, OH states that as the latest real estate news shows, there’s more coming to the area for Cincinnatians to look forward to.
Downtown Cincinnati Building to Be Sold for $3 Million to The City
Last Wednesday, the city council voted to purchase 101 W. Fifth St. from Saks, the luxury retailer, for $3 million, giving them complete control over the coveted downtown site.
According to officials, the lump sum will come from the TIF (tax-increment financing district) that funds developments in the southern downtown area of the city.
Saks occupied the property from 1984 until December 2022, when the city unanimously decided to buy the site. Mayor Aftab Pureval reportedly stated that the future of the building is bright — it will be instrumental in reinvigorating Cincinnati’s convention center district.
While it’s unclear precisely what the Council will do with the former Saks building, councilmember Jeff Cramerding assures residents that it will increase vitality and bring more energy to the block.
Cincinnati Leads the Nation with Fastest-Selling Homes
Other US cities may be experiencing a housing market cooldown, but the Cincinnati metro area remains piping hot. According to Zillow, a countrywide online listing service, homes in the vicinity are achieving a pending offer in just 12 days.
The city’s housing market is still energized despite key changes, like inflation and rising mortgage rates. So much so that the area pocketed the “fastest-selling US home market” title.
Montgomery Quarter to Complete in 2023
Montgomery Quarter, a transformational development on the Montgomery Road and Ronald Reagan Cross-County Highway intersection, is set to complete construction this year.
The mixed-use development contains an array of features anticipated to revitalize the area, including:
- Over 130 luxury apartment units and condos
- A luxury hotel
- Plenty of street and structured parking
- Flexible-use outdoor green space
- 100,000 square feet of Class A offices
- More than 30,000 square feet of restaurant and retail space
The $150 million development is currently under construction By Brandicorp. Upon its completion, Cincinnatians will benefit greatly from diverse dining, shopping, and living opportunities.
Cincinnati Children’s Hospital’s New Behavioral Health Facility to Finalize in The Fourth Quarter
The new behavioral health facility has been in the pipeline for years, but the building is set to be completed in the final quarter of 2023.
The $99 million state-of-the-art inpatient mental health development will encompass 160,000 square feet, boasting 68% more room than the current facility.
Throughout its five stories, the building is replacing the current inpatient suite on the College Hill campus. All inpatients at the new facility will get a private room, allowing families to visit and stay more easily than before.
Such transformational improvements will ensure the Cincinnati Children’s Hospital can better foster an engaging, therapeutic, and patient-centric environment.
