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Norwood: Development and News

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$12M conversion of school, church to condos planned in Norwood

 

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A developer is planning a four-phase, $12 million redevelopment project in the heart of Norwood.

 

Living Heritage Homes plans to convert two former school buildings and two former church buildings into 112 residential condominiums. The overall project, which is being called the Legacy Lofts on Courtland, is expected to be a $10 million to $12 million project.

 

More below:

https://www.bizjournals.com/cincinnati/news/2017/09/14/12m-conversion-of-school-church-to-condos-planned.html

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^If all 4 phases happen, that will be a significant boost to that neighborhood! I'm nervous though that the financing will struggle to find comparable condos in Norwood at price points high enough to justify the renovation costs.

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A source tells me that the tiny "skyscraper" in downtown Norwood -- the 6-story thing across from the Walgreen's, sustained significant water damage when its pipes burst while vacant.  Plus the owners foolishly sold off its back parking lot which inhibits their ability to get financing for a redevelopment.  So no telling what its future might be. 

 

https://www.google.com/maps/@39.1605186,-84.4571952,3a,75y,139.21h,109.09t/data=!3m6!1e1!3m4!1sQzZcpdbIza3x6JE5YzOSkg!2e0!7i13312!8i6656

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Get a look at Rookwood Exchange’s $15 million hotel

 

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The final piece of the more than $100 million mixed-use Rookwood Exchange development is open for business.

 

Residence Inn by Marriott, a 118-room hotel in Norwood, opened for business on Sept. 29. Developed by Jeffrey R. Anderson Real Estate Inc., Brandicorp and Lexington Management Corp., the hotel is expected to build on the success of the existing Courtyard by Marriott hotel at the property by catering to long-term business travelers.

 

More below:

https://www.bizjournals.com/cincinnati/news/2017/10/02/get-a-look-at-rookwood-exchange-s-15-million-hotel.html

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^Are those car lifts just for style points?  Like, some sucker takes a photo of their car up on the lift, posts to Facebook, and everyone asks where he is?  THE RESIDENCE INN BY MARRIOT, duh. 

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^Are those car lifts just for style points?  Like, some sucker takes a photo of their car up on the lift, posts to Facebook, and everyone asks where he is?  THE RESIDENCE INN BY MARRIOT, duh.

 

Car lifts will be valet only, its how they were able to meet parking requirements. It would be great to see more of these in the future instead of massive parking lots.

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^If all 4 phases happen, that will be a significant boost to that neighborhood! I'm nervous though that the financing will struggle to find comparable condos in Norwood at price points high enough to justify the renovation costs.

 

I take no joy in the fact that I anticipated this deal falling apart: http://www.norwoodstar.com/2018/04/02/legacy-lofts-on-courtland-development-is-not-happening/

 

That's too bad for Norwood as it would have been a good boost to the neighborhood.

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