http://news.enquirer.com/apps/pbcs.d...IZ01/511050335
Luxury condos planned in city
Large development near Purple bridge
By Marla Matzer Rose
The Kentucky riverfront has several luxury condo projects under construction or in preparation. Now, the Ohio side may soon have one.
A $75 million condo and restaurant development dubbed RiverCrossing is planned in Cincinnati next to the Purple People Bridge, on the site of what is now the Montgomery Inn Banquet Center.
The city planning commission got a glimpse of the plans Friday morning and will receive a formal presentation at its December meeting, said Doug Hine, president of development services for Miller Valentine Group, one of the developers.
Hine said the developers would ask the city for some control regarding any other developments near the project.
The project would have 140 river-view condos in two buildings and 50,000 to 70,000 square feet of commercial space that might be occupied by two upscale restaurants. The condos would range from $450,000 to $2 million. Pre-marketing will begin in the first quarter of next year and construction in the third quarter, Hine said.
The project would be the second in the neighborhood for Miller Valentine and Greiwe Development Group, who cooperated on the Polk Building conversion into the Park Place at Lytle condominiums next door to the Taft Museum. For RiverCrossing, the developers have partnered with the Gregory family, who own the Montgomery Inn, along with RTKL and Cole & Russell Architects.
The popular Montgomery Inn at the Boathouse restaurant in Sawyer Point park will remain.
The Gregory family is exploring alternate locations for the adjacent banquet center. Earlier plans had called for the banquet center and possibly a supermarket across the street in what's now a city-run parking lot, but that parcel will remain undeveloped for now. The Ohio Department of Transportation controls part of that site, as it used to be an on-ramp to the Purple People Bridge before it was converted to a walkway.
The developers tout the project as an important piece in creating connections and a vibrant community in the area. Along with creating more than 500 construction jobs and 350 permanent jobs, they say, RiverCrossing would bring 280 new downtown residents spending an estimated $3 million annually and build momentum for The Banks - the long-brewing mixed-use project to be located between Cincinnati's two riverfront stadiums.
Huff Realty has signed as the sales agent for the condos. It started accepting expressions of interest from its downtownliving.com Web site about two weeks ago. Visitors clicking on a link to "new riverfront project" can enter their information to receive details on floor plans and pricing as soon as they are available.
Huff Realty president Jim Huff expects high interest for the project.
"I think you can see there is a demand from Miller Valentine's other project (Park Place), which is almost sold out," Huff said.
Hine said the design of RiverCrossing is geared toward enhancing access to the riverfront for both residents and the general public. There will be 200 public parking spaces on the premises, and the construction would open up public pedestrian access from Lytle Park to the river.