While the rest of the housing market has been working its way out of a hole for the better part of the last two years, Over-the-Rhine's Gateway Quarter
has been experiencing surging sales that lead the region, surprising many who were skeptical about the once downtrodden neighborhood.
Many of the buildings within the completed phases of the Gateway Quarter are either sold out or nearly sold out with only a few remaining units. At newly opened buildings like Mottainai, units have sold quickly - almost as soon as they were available to live in.
The completed residential phases of the Gateway Quarter have included close to 165 residential units comprising lofts, condos, and townhomes selling between $90,000 to the mid-$300s. The next phase of residential units currently underway along Vine Street includes more than 150 new apartments and around a dozen new condos.
This $100 million investment, much of it made possible by the Cincinnati Center City Development Corporation
(3CDC), brings the Gateway Quarter's reach nearly all the way from Central Parkway to Liberty Street along Vine, Main, Republic, Pleasant and their cross streets.
The success of the new investment is a surprise to some, but not others. Redmond believes that the neighborhood has a naturally strong appeal that has been complimented by the first-time home buyers tax credit this year.
"We have had record sales this year and have been very pleased," said Redmond. "So far we have sold 30 units in 2009, and a total of 88 units overall due to the tax credit and the increasing interest in the neighborhood."
To schedule a tour of the available Gateway Quarter residential units, contact Holly Redmond at (513) 479-0413 or Stacy Rickert at (513) 515-2615. You can also visit the Gateway Quarter sales office at the southwest corner of 12th and Vine streets (map
) Monday through Friday, 12pm to 5pm; Saturday, 12pm to 3pm; or Sunday 12pm to 3pm. Appointments are also available and are encouraged for a complete tour of the district's offerings.
Writer: Randy A. SimesPhotography by Scott Beseler
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