Thirteen neighborhood projects were recently awarded $1.65 million through the 2013
Neighborhood Business District Improvement Program.
The
Pleasant Ridge Development Corporation received $150,000 for the acquisition and redevelopment of 6025 Montgomery Road, which includes two separate buildings on one parcel of land. PRDC is in negotiations with the current owner and plans to have the property under contract by January.
The majority of the NBDIP funds will go toward purchasing the property; the remainder will be put toward redevelopment. PRDC will then partner with another community organization or developer to finish the project.
PRDC currently has a working partnership with the
Pleasant Ridge School Foundation at
Pleasant Ridge Montessori for the project. PRDC and the Foundation have talked about several ideas for the property, including a potential daycare to supplement the school’s part-time preschool. Depending on the how planning for the daycare goes, there might be more than one use for the property, says Jason Chamlee, president of PRDC.
PRDC takes a different approach to its NBDIP projects than other neighborhoods. For the past two years, PRDC has focused on purchasing existing real estate and redeveloping it, says Chamlee. PRDC wanted to acquire the Montgomery property because it is a vacant building that can be redeveloped to capitalize on business opportunities near Pleasant Ridge Montessori, which is adjacent to the property.
Pleasant Ridge is a strong, engaged neighborhood with a stable housing market, says Chamlee. “The biggest need in Pleasant Ridge is rebuilding the business district. With support from the City of Cincinnati, our colleagues in other business districts and strong community partnerships, we are gaining momentum and want to build off our early successes. The quality of our neighborhood is very closely tied to the vitality of the business district."
Last year, PRDC was awarded $200,000 through NBDIP for the acquisition of a property at Montgomery and Ridge roads. The property had fallen into foreclose and disrepair and was about 75 percent vacant. PRDC formed a joint partnership with a local developer who will renovate the property.
The project from last year is going through the final approval process for full rehabilitation construction. In the end, there will be three or four new, redeveloped storefronts that total about 13,000 square feet of restaurant or retail space that will be available for lease in early 2013.
For additional information regarding development projects in Pleasant Ridge, please contact
[email protected].
By Caitlin Koenig
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