New $31M Findlay Parkside development near Findlay Market lands $3.1M in Ohio tax credits.
The new Findlay Parkside mixed-use development in Over-the-Rhine has been awarded $3.1 million in Ohio historic preservation tax credits, the Ohio Development Services Agency announced Thursday.
Findlay Parkside developers plan to invest more than $31 million to rehab 19 mostly vacant buildings in OTR that surround Findlay Market.
The project includes plans for a mix of 65 affordable and market-rate apartments and small-scale commercial spaces in the buildings, which will retain original exterior details, such as cast-iron storefronts, decorative cornices, and hoodmolds.
The tax credit application for Findlay Parkside listed it as the “second phase” of the giant Willkommen project under development by The Cincinnati Center City Development Corp. (3CDC) and OTR-based, The Model Group.
But Findlay Parkside is completely separate from Willkommen, according to the developers, who will spend approximately $50 million on the Wilkommen project to redevelop 16 historic buildings and build four new infill buildings on currently vacant lots in OTR.