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.

YMCA

CURRENT

ESSENTIAL FACTS:

CONSTRUCTION PHOTOS

DEVELOPER: 3CDC, YMCA and Model Group

LOCATION: 1105 Elm Street

PROJECT COST ESTIMATE: $27.5 million

USES: 65 affordable apartments for seniors, improved wellness facility, and over 25,000 SF office space

ESTIMATED COMPLETION: June 2016


PROJECT FUNDING

  • Model — The Model Group
  • NMTC — New Markets Tax Credit Equity
  • HTC — Historic Tax Credit Equity
  • YMCA — Equity

PROJECT SUMMARY

This impressive 9-story Renaissance Revival building is one of the largest and most recognizable structures in the Over-the-Rhine (OTR) neighborhood. The place of prominence in the historic heritage of OTR that this building has enjoyed has been threatened in recent decades by on-going vacancy of the residential tower and Annex building and the gradual obsolescence of the existing recreational facilities and office space. The YMCA of Greater Cincinnati (YMCA), 3CDC and the Model Group have joined together to undertake a $27.5 million renovation that will convert 225 dormitory style units into approximately 65 high-quality affordable apartments for seniors, dramatically improve the YMCA Wellness facilities to retain existing customers and attract new customers, and provide over 25,000 SF of office space for the YMCA’s corporate headquarters.

 

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.