3CDC is a non-profit, real estate development and finance organization focused on strategically revitalizing Cincinnati’s downtown urban core in partnership with the City of Cincinnati and the Cincinnati corporate community.  Our work is specifically focused on the central business district and in Over-the-Rhine.

BELMAIN

COMPLETED

ESSENTIAL FACTS:

DEVELOPER: Urban Sites

LOCATION: 1202 Main St.

PROJECT COST: $2.3 million

USES: Residential & commercial

UNITS: 16 condos

AVERAGE UNIT SIZE: 680 SF

COMMERCIAL SF: 2,811

COMPLETION DATE: 2009


PROJECT FUNDING

  • CNMF — Cincinnati New Markets Fund
  • City Grant — City of Cincinnati Grant

PROJECT SUMMARY

The Belmain, at 1202 Main St., is a LEED certified ‘green’ building in Over-the-Rhine. LEED certification is a nationally recognized benchmark for high-performance, environmentally-friendly buildings, allowing the projects to qualify for a 10-year tax abatement. Each of the 16 condominiums has one bedroom and one bath, and includes access to an indoor community bicycle room.

 

Completed in 2009, the $2.3 million Belmain renovation originally resulted in the creation of 16 residential condominiums. In 2011, recognizing the relative strength of the rental market at the time, 3CDC converted the condos to apartment units. However, the subsequent four years saw continued growth in demand for new condominiums in OTR. As a result, in 2015, 3CDC tapped NorthPointe Group to convert the units in The Belmain back to their original use as condos. The approximately $250,000 conversion was fully completed in September 2015, and all but two of the condos have been sold. Pricing and additional information on the available units can be found on www.OTRLiving.com.

 

Park + Vine has operated within the 2,800-square-foot street-level commercial space since 2010.

 

3CDC is a non-profit, real estate development and finance organization focused on strategically revitalizing Cincinnati’s downtown urban core in partnership with the City of Cincinnati and the Cincinnati corporate community.  Our work is specifically focused on the central business district and in Over-the-Rhine.