Capstone Apartment
Partners is pleased to present an exciting asset in a rapidly growing corridor
of downtown Cincinnati: the West 4th Street Redevelopment Opportunity. The
opportunity is at 113 West 4th Street, and the building represents 22,680± SF
of space for multi-family and ground floor retail development. Zoning is
already in place for the building, so obtaining entitlements should not be an
issue for incoming developers. The Historic West 4th Street District landed a
spot on the National Register of Historic Places in 1976, providing incoming
investors with the additional opportunity to take advantage of federal and
state historic tax credits.
The asset is in the
midst of ongoing redevelopment in Cincinnati’s urban core that has been going
on for over a decade. Consequently, there is an abundance of walkable
restaurants, bars, shops, and other entertainment options for prospective
residents to enjoy. Lastly, the ramp-up of urban core supply has progressed at
a much slower pace in Cincinnati than in most other Midwest cities; thereby,
providing plenty of ongoing demand for these types of units, which will
expedite the lease-up process.