Thursday January 23, 2020

Development Team Starts Demolition for $130M Mixed-Use Project

Al. Neyer’s design-build team will join Capital Investment Group (CIG) as the general contractor on Gallery at Kenwood, a redevelopment of more than seven acres for luxury apartments, an office building, and a parking garage.

From the Cincinnati Business Courier:

DEVELOPMENT TEAM STARTS DEMOLITION FOR $130 MIXED-USE PROJECT

Demolition is scheduled to begin this week to make way for a $130 million mixed-use development across from Kenwood Towne Centre.

Capital Investment Group (CIG) said demolition of 22 four-family buildings is expected to begin Wednesday, Jan. 23. This will clear a more than 7-acre site adjacent to Jewish Hospital for construction of the first phase of Gallery at Kenwood.

David Bastos, president of CIG, said it has taken years to get to this point. CIG started acquiring property for the project in 2012, and announced plans for Gallery at Kenwood in March 2018.

“It’s the No.1 submarket in the area. You have to work a little bit harder in the best locations,” Bastos told me. “We strive to really invest in areas we know will get a great return.”

Gallery at Kenwood will include 248 luxury apartments, a roughly 115,000-square-foot class A office building, a 130-room hotel and two first-floor restaurants. The project is expected to have an economic impact of more than $160 million.

Read more from Tom Demeropolis at the Cincinnati Business Courier here.

ABOUT THE PROJECT

Gallery at Kenwood will include 248 luxury apartments, five-level parking garage with 801 spaces, and an office building.

According to the Cincinnati Business Courier article, Gallery at Kenwood is expected to generate a total economic impact of $161.9 million, according to a study performed by the University of Cincinnati. The study also totals a 684 total direct permanent jobs with the completion of the project. Al. Neyer looks forward to joining its partners on taking part in this transformation of the Sycamore Township neighborhood, with plans to kick off construction in the spring of 2020.

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