Source 3 Development
has partnered with 224 W Liberty LLC to announce a $25-million mixed-use development at the northwest corner of Liberty and Elm streets in Over-the-Rhine. The project will construct 90 market-rate apartments as well as 15,000 square feet of street-level retail and restaurant space.
The project includes renovating four existing buildings: 212 and 214 W. Liberty and 1711 and 1713 Elm. The first three will have first-floor retail with apartments above, and 1713 Elm will be completely residential.
Source 3 envisions a live/work/play atmosphere for the project, which is aimed at young professionals and empty-nesters who already spend their free time in OTR. The project is located on the Cincinnati Streetcar
line, with a northbound stop catty-corner from the development on the southeast corner of Liberty and Elm and a southbound stop two blocks away at Liberty and Race.
Most of the 90 apartments will be one-bedroom, but there will be a mix of studios and two-bedroom as well. Source 3 also plans to include a fitness room, cyber cafe and 2,400-square-foot community room on the top floor. Unit sizes, types and prices are still in the works, but they will be in line with existing projects in OTR. Final designs are still on the drawing board.
On street level, there will be more than 6,900 square feet of commercial retail space plus two restaurant spaces — one 2,200-square foot space and one 4,900-square-foot space with a 1,100-square-foot outdoor patio.
There are also plans for a new three-level 165-space parking garage. One level will be underground, with entrances on Logan, Green and Liberty streets.
Construction is slated to begin this fall, with apartments and commercial space available a year later.