CINCINNATI — The Port of Greater Cincinnati Development Authority has begun the planning and development of the MidPointe Crossing mixed-use development in Cincinnati’s Bond Hill neighborhood. The project is valued at $80 million.
MidPointe Crossing will be located within one mile of Interstate 75, and has the potential for up to 500,000 square feet of office and retail. The nearby intersection of Reading Road and Seymour Avenue sees more than 37,000 vehicles each day.
“MidPointe Crossing is Cincinnati’s next great office and retail location,” says Laura Brunner, Port Authority president and CEO. “The Port Authority and City of Cincinnati have teamed up on making a significant investment in this location that complements all of the other momentum nearby. We now expect the market will respond favorably, because there are only a handful of development-ready city sites of this caliber.”
The site of MidPointe Crossing was the former home of Swifton Commons, the region's first shopping mall. The 400,000-square-foot Swifton Commons opened in 1956 and was demolished in December 2013.
The development authority has selected Cassidy Turley senior vice president Scott Abernethy and associate Joshua Smitherman to lead office land sales for the 25-acre development, as well as vice president Andrew Sellet and associate Terry Ohnmeis to handle retail land sales.
“The momentum of the Seymour/Reading corridor continues to build due to more than $270 million in public and private investments, including new homes and schools, recreational facilities and religious institutions,” says Abernethy.
The Port of Greater Cincinnati Development Authority was formed in 2000 to stimulate growth of the regional economy and is partnered with the city of Cincinnati and Hamilton County.
Cassidy Turley is a commercial real estate services provider with more than 60 offices nationwide. The firm completed transactions valued at $25.8 billion in 2013 and manages approximately 400 million square feet on behalf of institutional, corporate and private clients.
— Scott Reid