Link: Is an apartment development at Eighth and Sycamore worthy of public financing?.
As was previously teased by Cincinnati Mayor John Cranley (D), there is the possibility of building a residential mid-rise atop the planned parking garage at Eighth and Sycamore Streets. The developer initially engaged, however, is saying that they will need some gap financing from the City to make it happen. Do you think it’s worth the public investment? More from the Business Courier:
Rick Kimbler, a partner at NorthPointe Group, which is developing the project along with North American Properties and Al Neyer, said the group is trying to assemble financing for the project.
“We don’t have the financing put together, so it’s not really a project yet,” Kimbler said. “We will definitely need some gap filler from the city. There’s no question about that because mid-rise construction downtown is expensive, and the city is straining, trying to be helpful, but their funds are limited.”
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