SkyHouse Cincinnati Riverfront Tower Gets Key Approval
- Apr 07, 2016
By Anca Gagiuc, Associate Editor
Cincinnati—Novare Group of Atlanta recently got a key approval on its plan to build a 25-story apartment building near Cincinnati’s riverfront, dubbed SkyHouse Cincinnati.
The Cincinnati City Planning Commission voted 4 to 1 to accept a concept plan for the high-rise and approve a change in zoning which will allow the construction to move forward. Currently, the zoning of the 2.77-acre property located at 601 E. Pete Rose Way allows the development of structures up to 15 stories tall.
The developer intends to begin construction by this summer, with project completion estimated for the winter of 2017. SkyHouse Cincinnati will include approximately 352 rental apartments and about 3,000 square feet of retail. Amenities will include a fitness center, club room, pool and sky deck. A parking garage with 500 spaces will be connected to the apartment tower by a connector canopy.
The developer plans to make a contribution to the Cincinnati streetcar operations, which could provide $166,000 per year based on tax projections, according to a presentation to the Planning Commission.
The project is estimated to cost $90 million, but to move forward it still needs to overcome several hurdles: acquiring all necessary permits, receiving approval from the city’s Neighborhoods Committee and the full City Council for the concept plan and zoning change, and receiving approval from the City Planning Commission for its final plan of construction.
Image courtesy of Novare Group