5 Aug 2020
Today, the Ohio Development Services Agency awarded $31,204,165 in Ohio Historic Preservation Tax Credits for the rehabilitation of 40 historic buildings. Together, the projects are expected to leverage approximately $347 million in private investments in nine communities.
“Ohio communities are filled with charm. You see it in the historic buildings that line our downtowns and neighborhoods,” said Lydia Mihalik, director of the Ohio Development Services Agency. “Working with local community and business leaders, we’re removing blight in neighborhoods and transforming these buildings into new places for Ohioans to live and work.”
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.
“We congratulate all Round 24 Ohio Historic Preservation Tax Credit award recipients. said Burt Logan, Ohio History Connection Executive Director & CEO. “We know how important these tax credits are to Ohio’s economic development, especially right now. Our team looks forward to partnering with our communities and business leaders to preserve Ohio’s historic buildings, solidifying their place in our state’s future.”
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 U.S. Secretary of the Interior’s Standards for Rehabilitation.
The Round 24 Ohio Historic Preservation Tax Credit recipients in Greater Cincinnati are:
30 E. 15th (Cincinnati, Hamilton County)
Total Project Cost: $2,209,137
Total Tax Credit: $220,000
Address: 30 E. 15thSt., Cincinnati, 45202
The building at 30 E. 15th is part of the final phase of the Broadway Square project in Cincinnati’s Pendleton area of Over-the-Rhine. The larger project includes more than20 buildings and has reactivated more than 100 apartments. This building, when completed, will have four units, one per floor. A distinct set of bay windows on the second and third floors of the primary facade will be retained and repaired.
56 E. McMicken front (Cincinnati, Hamilton County)
Total Project Cost: $1,097,132
Total Tax Credit: $154,526
Address: 56 E. McMicken Ave. front, Cincinnati, 45202
A four-story building with first-floor commercial space and upper-floor apartments, this building was constructed in 1879. After rehabilitation,the building will have eight studio and one-bedroom apartments and a first-floor bar. The exterior of the building retains its Italianate features,including cornice and window hoods that will be repaired and retained. It is paired with the building on the rear of the lot also receiving a credit allocation this round.
56 E. McMicken rear (Cincinnati, Hamilton County)
Total Project Cost: $731,422
Total Tax Credit: $90,299
Address: 56 E. McMicken Ave. rear, Cincinnati, 45202
This three-story residential building served residents starting around 1865 until it was vacated several years ago. Located on the northern side of the Over-the-Rhine neighborhood, the building is in an area still suffering from neglect and disinvestment. Five one-and two-bedroom apartments will be completed inside with all new finishes and systems. It is paired with the building on the front of the lot also receiving a credit allocation this round.
64 E. McMicken (Cincinnati, Hamilton County)
Total Project Cost: $1,175,720
Total Tax Credit: $116,408
Address: 64 E. McMicken Ave., Cincinnati, 45202
The building at 64 E. McMicken is characteristic of the Over-the-Rhine neighborhood: brick, Italianate, 3 1/2 stories and mixed use. After rehabilitation, six apartments on the upper floors will be made available as well as a first-floor commercial space that will be occupied by a coffee shop.
106-108 and 110 E. 14th St. (Cincinnati, Hamilton County)
Total Project Cost: $1,579,497
Total Tax Credit: $156,370
Address: 106-108 and 110 E. 14th St., Cincinnati, 45202
This project includes two historic buildings in Cincinnati’s Over-the-Rhine neighborhood. The buildings have always served a residential use, with a small commercial space in 110, but have been neglected and vacant for many years. After the rehabilitation project,they will have four studio apartments and four one-bedroom apartments. Much historic fabric remains in place and will be repaired,including stairs, wood floors, trim, and doors.
313 W. 5th (Cincinnati, Hamilton County)
Total Project Cost: $1,391,485
Total Tax Credit: $195,983
Address: 313 W. 5th St., Cincinnati, 45214
Constructed in the 1850s, this building in Cincinnati’s West Fourth Street Historic District was originally used for small industries and commercial purposes. After years of vacancy and neglect,the building will be rehabilitated into commercial space on the ground floor with 10 apartments on the three story’s upper floors. Incompatible modern storefront materials will be removed, and a compatible storefront will be built.
646 Neave (Cincinnati, Hamilton County)
Total Project Cost: $1,983,007
Total Tax Credit: $244,000
Address: 646 Neave St., Cincinnati, 45204
This building is part of a larger affordable housing project in Lower Price Hill called LPH Thrives that will include 12 historic buildings. After many years of abandonment and fire damage, the building will be returned to use with seven residential units by Over-the-Rhine Community Housing. All new systems and finishes will be installed, while preserving the remaining historic fabric.
1400 Clay Street (Cincinnati, Hamilton County)
Total Project Cost: $1,481,617
Total Tax Credit: $146,680
Address: 1400 Clay St., Cincinnati, 45202
1400 Clay St.is a four-story Italianate building in Cincinnati’s Over-the-Rhine neighborhood. Although it retains many of its exterior historic features, years of unsympathetic renovations have removed much of the interior historic fabric. Once rehabilitated, the building will house seven residential units and a small commercial space on the first floor.
1400 & 1408 Walnut Street (Cincinnati, Hamilton County)
Total Project Cost: $1,867,760
Total Tax Credit: $184,908
Address: 1400, 1408 Walnut St., Cincinnati, 45202
These two buildings on Over-the-Rhine’s Walnut Street have stood for more than 140 years. Vacant for years and having lost most of their original historic fabric on the interior, the project will retain and repair what historic features that remain and revitalize the buildings as homes for new residents. Nine apartments and two commercial spaces will be created.
1505-1511 Vine St. (Cincinnati, Hamilton County)
Total Project Cost: $8,883,357
Total Tax Credit: $250,000
Address: 1505-1511 Vine St., Cincinnati, 45202
This project in Cincinnati’s Over-the-Rhine neighborhood will rehabilitate a historic building at 1511 Vine and will include the construction of a new building filling the gap of a vacant lot at 1505 Vine. A ground floor commercial space in the historic building will be complemented by new commercial space in the new building. Above, 18 residential units with a mix of one-, two-, and three-bedroom units will be completed.
1725 Elm (Cincinnati, Hamilton County)
Total Project Cost: $1,781,427
Total Tax Credit: $249,999
Address: 1725 Elm St., Cincinnati, 45202
Five stories in height, the building at 1725 Elm St.in Cincinnati’s Over-the-Rhine neighborhood was home to a commercial storefront on the first floor and apartments above. After suffering years of vacancy and a fire in its upper floors, the building will be restored to serve its original purpose. In spite of the fire damage and neglect, many historic features remain,including wood trim, stairs, windows, and storefront features.
2001 Vine (Cincinnati, Hamilton County)
Total Project Cost: $1,499,409
Total Tax Credit: $245,804
Address: 2001 Vine St., Cincinnati, 45202
The building at 2001 Vine in Cincinnati’s Over-the-Rhine neighborhood is a triangular shape, sited where Clifton meets Vine. Four stories in height, the first-floor space was commercial with four apartments above. Once home to a series of retail establishments from tire shop, to deli, to electronic store, the commercial space will be occupied by an office tenant.
Please follow this link for the full list of Round 24 recipients.