NuTone remediation would bring 1,400 Medpace jobs

Cincinnati City Council has approved an ordinance that could facilitate Medpace Inc.'s move to the former NuTone site in Madisonville.

The legislation allows the city to apply for up to $3 million in Clean Ohio Revitalization Fund grants for building demolition and site remediation on the 5.5-acre site at Red Bank Expressway and Madison Road.

The grant application is being made on behalf of property owner RBM Development Company, LLC, a group of private investors that includes Medpace president and CEO August Troendle.

Medpace, a drug development firm currently based in Norwood, has announced that it would like to move around 600 employees into a new 120,000-square-foot office building it has planned for the property by late 2010.

Over the next eight years, the company plans to expand to up to 1,400 employees.

In addition to meeting the job creation goals, RBM would be required to develop another 330,000 square feet of office space and 50,000 square feet of retail space on the site, plus parking.

RBM had been working with developer Bear Creek Capital on an $85 million-$110 million redevelopment plan called Midtown Crossing at Madisonville since September 2007, but Bear Creek has since dropped out of the project.

Prior to Bear Creek's involvement, Miller-Valentine Group had proposed the $90 million-$100 million Cincinnati Encenter mixed-use project for the site.

RBM and Medpace are now in talks with other developers, and plan to begin work this spring.

Writer: Kevin LeMaster
Source: City of Cincinnati
Photography by Scott Beseler