Construction begins on $50 million mixed-use project in Blue Ash Sep 18, 2018, 12:39pm EDT Updated: Sep 18, 2018, 1:32pm EDT
Construction has started on an estimated $50 million mixed-use development in Blue Ash. The Approach at Summit Park, the first phase of development in the Neighborhoods at Summit Park, is under construction. The mixed-use block, which includes three buildings in total and structured parking, will COURTESY AL NEYER have a total of 290 apartments, about 35,000 square feet of street-level commercial space, and a total of 412 parking spaces. The total investment for this project is expected to be $50 million to $55 million. The Approach is being developed by Al Neyer, Vandercar Holdings LLC and Fortus Group. Stephen Dronen, director of development for Fortus, said the Approach will “front on Summit Park and be a dynamic, new urbanist-style mixed-use development.” Al Neyer’s design-build team is overseeing construction management. Elevar Design Group is serving as the architect of record. Cardinal Engineering is performing the civil engineering work. Financing for the project was provided by WesBanco and General Electric Credit Union. The developers are working with Urban Fast Forward to lease the retail space. Dronen said they are already in talks with several tenants, with spaces that could open by the end of 2019. “We plan to bring a lot of unique shops and restaurants to activate that park front,” Dronen told me. Dronen said the apartments will have “top of the line finishes,” with large windows that look out to Summit Park. Individual units will have 9-foot ceilings, granite counters, stainless steel appliances, and balconies on all units. https://www.bizjournals.com/cincinnati/news/2018/09/18/construction-begins-on-50-million-mixed-use.html?s=print
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The building also will have a fitness center, room for co-working, a large pool deck, bicycle storage and a dedicated yoga/CrossFit room. While Dronen said it’s too early to say what rental rates will be for the apartments, he is keeping on eye on the market. Tom Wilson, director of real estate development at Al Neyer, said it's exciting to have people on the site working on the project. "It's going to be a tremendous asset for the city of Blue Ash," Wilson said. The Approach is the first part of the redevelopment of a portion of the former Blue Ash airport. Blue Ash City Council approved the final development plan for this project, as well as a life plan community, at the beginning of 2018. Eventually, this property is expected to include offices, hotels and other residential development. The first units at the Approach are expected to be ready in spring 2020. Tom Demeropolis Senior Staff Reporter Cincinnati Business Courier
https://www.bizjournals.com/cincinnati/news/2018/09/18/construction-begins-on-50-million-mixed-use.html?s=print
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