Developer looks to add 100 apartments along Cincinnati riverfront bizjournals.com/cincinnati/news/2021/03/26/towne-properties-apartments.html
The proposed apartment building, on the left, would be adjacent to the existing Captain's Watch building and across the street from Montgomery Inn Boathouse.
By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier Mar 26, 2021, 6:36am EDT Towne Properties is working on plans to add 100 apartments just east of downtown Cincinnati. The Mount Adams-based commercial real estate company is proposing a zone change for the property at 975 Adams Xing in the East End that would allow for development of a five-story, roughly 100-unit apartment building. Chad Munitz, vice president of development for Towne Properties, said the piece of property, adjacent to the existing Captain’s Watch building, is located on a great stretch along the riverfront. “It is a great location,” Munitz told me. “It’s almost downtown. It’s walkable, bikeable and Uber-able to downtown, but you’re not in the middle of the Central Business District.” The as-of-yet unnamed apartments would provide easy access to the city’s park system and other riverfront amenities. The apartments will be focused toward active lifestyle empty nesters, Munitz said. 1/2
The project is planned on a nearly 4.8-acre piece of property along Riverside Drive. It is expected to include 100 units, 122 interior garage spaces and 77 surface parking spaces. Towne Properties is proposing a zone change to downtown development residential from planned development. The existing planned development zoning for the property does not have an approved concept plan or development program statement. Munitz said project got caught in a “zoning quirk” because the planned development was established so long ago and the building code has since been updated that if Towne Properties tried to build today, it would not be able to get building permits. The proposed zone change will allow for the planned apartment building to move forward, though it will have a height restriction. The project team includes Towne Properties as owner/developer/builder, Elevar Design Group as architect/planner, Schaefer as structural engineer, Woolpert as civil engineer, Terracon as geotechnical engineer and Sol Design + Consulting as environmental consultant. The proposed zone change is scheduled to go before Cincinnati Planning Commission on Friday, April 2. The staff of the Department of City Planning recommends the planning commission approve the zone change. Towne Properties is one of the largest commercial real estate developers and apartment owners and managers in Greater Cincinnati. The 60-year-old firm manages more than 12,000 apartments in four states, manages more than 115,000 homeowner’s association and condo owner’s association units and has completed more than 160 developments.
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