The Anderson Township Board of Trustees recently gave the green light for the creation of a Community Reinvestment Area (CRA) to help turn a stagnant, failed development site into a luxury apartment development that would generate revenue for the township, Cincinnati.com reports. Developer Hills Properties Inc. requested the CRA for a proposed $20-million “seven-story, 180-unit luxury apartment complex” that would include one- and two-bedroom floor plans and a three-level parking structure below the building, according to the article. The developer requested the CRA because the site’s location on a steep hillside “creates significant challenges to development.” Discussions for the development “have focused on a 75 percent abatement for 15 years.” The approval from the board of trustees is the first of three steps; next, the Hamilton County Commissioners will consider the request, which must also be approved at the state level. Anderson Township Trustee Andrew Pappas “said he would rather see the township receive some of something rather than all of nothing, which is the current situation.”
CRA could transform abandoned Anderson Twp. site into luxury development
