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.

MERCER COMMONS

CURRENT

ESSENTIAL FACTS:

CONSTRUCTION PHOTOS

Developer: 3CDC, Northpointe Group & McCormack Baron Salazar (MBS)
Location: Between East 13th & 14th streets bordered by Vine and Walnut streets

Project Cost: $ 63 million

Units: 154 (126 rental and 28 condos)

Average Unit Size: 1,100 SF

 

For information on both affordable and market rate apartments at Mercer Commons, please send a message directly to MercerCommons@McCormackBaron.com.

 

CLICK HERE for a video from the Finance Fund about the Ohio New Markets Tax Credit program which made this project possible.


PROJECT FUNDING

  • Day Loan — Day Loan
  • HTC — Historic Tax Credit Equity
  • NMTC — New Markets Tax Credit Equity
  • State — Jobs Ohio Loan
  • Loan — Conventional Loan
  • LIHTC — Low Income Housing Tax Credit Equity
  • City — City Grant
  • CEF — Cincinnati Equity Fund
  • CNMF — Cincinnati New Markets Fund

PROJECT SUMMARY

Mercer Commons is the development and renovation of 19 buildings and 26 vacant parcels of land on a total of 2.67 acres. It is a $63 million project that will yield 126 apartments (30 of which will be affordable units), 28 condominiums, 17,600 SF of commercial space, and a 340-space parking garage. It will bridge the gap of development on Vine from the 1200 block to the 1400 block as well as create a connection to Walnut Street.

 

The project is divided into three phases of development. Construction on the first phase is underway, and includes the parking garage, 11 condos in 4 historic rehabs, 12 condos in a new-construction mixed-use building on Vine with 3,900 SF of commercial space, and 5 new construction townhomes on Mercer. The garage opened in May 2013, Mercer Historic in August, and Mercer Townhomes in October. One Mercer (new construction on Vine) will open in early 2014.

 

The second phase includes 13 historic rehabs and new construction yielding 67 mixed-income apartments and 10,600 SF of commercial space. Construction began in April 2013 and will take approximately 15 months.

 

The third phase of construction includes 2 historic rehabs and new infill development. Phase III will include a mix of residential and commercial.

Available Spaces

1349-55 WALNUT STREET

Mercer Commons is the development and renovation of 19 buildings and 26 vacant parcels of land on a total of 2.67 acres. It is a $63 million project that will yield 126 apartments (30 of which will be affordable units), 28 condominiums, and 17,600 SF of commercial space, a 340-space parking garage and a 19-space parking lot along 14th Street. It will bridge the gap of development on Vine from the 1200 block to the 1400 block as well as create a connection to Walnut Street.

SF: 1,847 + basement

Phone: (513) 620-4OTR

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.