Over the next two years, new construction and redevelopment of a number of existing buildings will yield more than 60 new living units and 37,500 square feet of retail along Race Street between 15th and Liberty streets. This will be one of
3CDC’s largest projects in Over-the-Rhine, second only to
Mercer Commons.
The 2.2-acre development will be built in seven different phases and be residential-based, making it a bit different from the bar and restaurant scene 3CDC developed on Vine Street.
Phase 1: A new three-story building along Race Street will contain 17 units and 4,500 square feet of retail. The one- and two-bedroom apartments will be between 1,000-1,300 square feet, and the retail spaces will be split between two or three businesses. Construction is slated to begin in July, with completion next summer.
Phase 2: A one- to two-story commercial addition at 1505 Race will yield four condos on the upper floors.
Phase 3: Originally 3CDC envisioned a parking garage within the block, but the newest plans include a surface parking lot with 34 spaces behind the development, with an entrance from 15th Street.
Phase 4: There will also be 10 or 11 townhomes with private parking plus four condos in the 1500 block of Pleasant Street. These will be geared more toward families and will be mostly new construction.
Phase 5: On Race Street, a historic rehab will yield 27 affordable housing units and 7,000 square feet of commercial space.
Model Group and
Cornerstone Renter Equity are partners on this portion of the development and will be applying for low-income housing tax credits as well as historic tax credits.
Phases 6 & 7: The empty lot on Liberty between Pleasant and Race will be spruced up as surface parking for now and could host new development in the future. The vacant Elm Industries space on Race will also be renovated into 22,000 square feet of commercial space.
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