19 Dec 2019
Today, the Ohio Development Services Agency awarded $24,565,849 in Ohio Historic Preservation Tax Credits for the rehabilitation of 24 historic buildings. Together, the projects are expected to leverage approximately $261 million in private investments in seven communities.
“Preserving the historic charm of Ohio communities enhances the quality of life in our downtowns and neighborhoods,” said Lydia Mihalik, director of the Ohio Development Services Agency. “These buildings will be transformed creating new opportunities for economic growth.”
The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity. Once rehabilitated, they will drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.
The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.
The Round 23Ohio Historic Preservation Tax Credit recipients in Greater Cincinnati are:
1735 Vine Street (Cincinnati, Hamilton)
Total Project Cost: $1,069,555
Total Tax Credit: $209,000
Address: 1735 Vine Street, Cincinnati, 45202
The building at 1735 Vine Street is emblematic of the buildings that make up the historic fabric of Over the Rhine: first floor commercial space with apartments on the floors above in a brick Italianate structure. Currently completely vacant, after rehabilitation the building will be home to six residential units, one of which will be affordable. Much of the original fabric remains and will be retained including the stairway and railing, trim, doors, and plaster.
Durner Building (Cincinnati, Hamilton)
Total Project Cost: $2,129,228
Total Tax Credit: $210,000
Address: 2453 Gilbert Avenue, Cincinnati, 45206
Vacant for several decades, this commercial building in the Peebles Corner Historic District will be rehabilitated for future commercial and residential use. With no functioning building systems currently in place, entirely new heating, plumbing, and electrical systems will be installed. But even after decades of abandonment many historic elements are still in place and will be repaired and retained. These include wood trim, marble wall panels, stairs, terrazzo and wood flooring, and exterior masonry. The upper floors will house nine apartments with co-working office space and the offices of the Walnut Hills Redevelopment Foundation going in on the ground floor.
418 E. 12th Street (Cincinnati, Hamilton)
Total Project Cost: $2,107,267
Total Tax Credit: $210,000
Address: 418 E. 12th Street, Cincinnati, 45202
This building, in the Pendleton area of Over the Rhine, is part of the final phase of the larger Broadway Square project being completed by the Model Group. After rehabilitation the building will be reactivated with 11 residential units and a small commercial space on the first floor. The building has undergone several renovations over the years, but its remaining historic fabric will be retained and repaired including the stair, wainscot, and wood trim.
422 E. 12th Street (Cincinnati, Hamilton)
Total Project Cost: $1,679,252
Total Tax Credit: $167,000
Address: 422 E. 12th Street, Cincinnati, 45202
This building, along with its neighbor at 418 E. 12th, is also part of the final phase of the larger Broadway Square project being completed by the Model Group. After rehabilitation the building will be reactivated with 4 residential units and a commercial space on the first floor. The building has undergone a number of renovations over the years, but its remaining historic fabric will be retained and repaired.
555 E. 13th Street (Cincinnati, Hamilton)
Total Project Cost: $2,003,106
Total Tax Credit: $200,000
Address: 555 E. 13th Street, Cincinnati, 45202
Also a part of the larger Broadway Square project, this building will be rehabilitated to its original use with eight residential units. The four-story Italianate building retains its window hood molds and cornice on the exterior. Some of the historic entry doors remain and will be repaired as will the historic stairs, interior doors, flooring, and wood trim.
1606 Elm Street (Cincinnati, Hamilton)
Total Project Cost: $1,279,173
Total Tax Credit: $125,000
Address: 1606 Elm Street, Cincinnati, 45202
The rehabilitation of 1606 Elm Street is part of the larger market Square and Findlay Market project undertaken by The Model Group in Over theRhine. The small three-story building is one of the older buildings in the area and dates to around 1865. It will be reactivated with three apartments, one on each floor. Little historic fabric remains on the interior,but historic masonry and decorative features will be retained on the exterior of the building.
1618 Walnut Street (Cincinnati, Hamilton)
Total Project Cost: $672,333
Total Tax Credit: $94,695
Address: 1618 Walnut Street, Cincinnati, 45202
The long-vacant three-story residential building is located in the northern part of Over the Rhine. This area has just begun to see reinvestment and rehabilitation activity and the development plan calls for the building’s three residential units to be reactivated. Significant structural and mechanical improvements will be made and historic fabric such as decorative exterior features and interior stairs and woodwork will be repaired.
100 E. McMicken Avenue (Cincinnati, Hamilton)
Total Project Cost: $1,412,711
Total Tax Credit: $198,973
Address: 100 E. McMicken Avenue, Cincinnati, 45202
Built in the 1850s, this three-story Italianate building in the northern part of Over the Rhine has housed numerous commercial tenants over the years including a druggist, bakery, and physician. Upstairs,there were several small apartments that were reconfigured over the years. After the rehabilitation is completed, there will be six one-bedroom units in the building.
Union Central Life Insurance Co. Building (Cincinnati, Hamilton)
Total Project Cost: $75,732,674
Total Tax Credit: $5,000,000
Address: 9 W. Fourth Street, Cincinnati, 45202
Built in 1913 as headquarters for the Union Central Life Insurance Co, this building in downtown Cincinnati was once the tallest outside of New York City. The building is clad in terra cotta and features a distinctive pyramidal roof. Of the 30 stories of office and commercial spaces, this project’s scope includes fourteen floors starting on the 4th that will be converted to 164 residences.
Please follow this link for the full list of Round 25 recipients.