Eden Park Pump Station to be reborn as brewery

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7 local projects get tax-credit boost

The state is greasing the effort to turn the Eden Park Pump Station
into a brewery, offering $1 million in tax credits.

The historic renovation project was among seven in Southwest Ohio that
recently received a combined $8.8 million worth of tax credits from
the Ohio Development Services Agency.

Architect Jack Martin, a retired city employee, is leading a group of
investors who want to repair the dilapidated Eden Park building and
brew a variety of craft beers there for local distribution. The
Cincinnati Beer Co. also envisions a tap room.

• Photos: Tour historic Eden Park Pump Station
 • Photos: All the properties that received grants

The $5.2 million project would create 40 construction jobs and 13
permanent jobs in the process.

“It’s in pretty bad shape,” Martin said. “The walls are fine, but it
needs a new roof.”

Pump Station No. 7, designed by noted Cincinnati architect Samuel
Hannaford and built in 1894, was obsolete by 1912. It was used for
fire and police dispatch for a time but has been vacant for years. The
7,000-square-foot, city-owned building is on the National Register of
Historic Places.

Cincinnati Beer’s 40-year lease requires the company to have “Brewery
X,” as it’s being called, operational by the end of 2014.

Even with the historic tax credits, Martin said, “we still have a lot
of fund-raising to do to make the project work.”

The other projects receiving historic tax credits from the state:

Main Street
 
• Total project cost: $9 million

• Tax credit: $1.8 million

• Address: 308, 312 and 316 Main St., Cincinnati

• Project: The three long-vacant buildings once slated for demolition
will be redeveloped by 3CDC for first-floor retail and upper-floor
housing.

• Jobs created: 21 permanent

Pendleton Apartments
 
• Total project cost: $16.1 million

• Tax credit: $2.6 million

• Address: 1108-1218 Broadway and 404-414 East 12th St., Cincinnati

• Project: The 17 buildings near the Horseshoe Casino Cincinnati will
be redeveloped into 80 residential units to serve casino employees.
More than 12,000 square feet of retail and restaurant space also will
be created.

• Jobs created: 37-plus

Hamilton Journal-News Building
 
• Total project cost: $4.1 million

• Tax credit: $800,000

• Address: 228-234 Court St., Hamilton

• Project: The tax credit will support phases 2 and 3 of the
transformation of the former newspaper building into a multi-tenant
education center, creating spaces for Butler Tech’s School for the
Arts and Hamilton City Schools’ Adult Basic and Literacy Education
program.

• Jobs created: Not given

Abington Flats
 
• Total project cost: $3.1 million

• Tax credit: $500,000

• Address: 33 Green St., Cincinnati

• Project: Upon rehabilitation by the Cornerstone Corp. for Shared
Equity, it will provide 18 rental apartments above first-level
commercial space. Residents will receive equity for paying rent.

• Jobs created: 50 construction and permanent

Rhodes Property Redevelopment
 
• Total project cost: $8 million

• Tax credit: $1.8 million

• Address: 961, 965, 975 E. McMillan, Cincinnati

• Project: The Walnut Hills Redevelopment Foundation is partnering
with the Model Group to convert the buildings into 30 market-rate
residential units and 7,000 square feet of first-floor commercial
space.

• Jobs created: 26 permanent

Losantiville Apartments
 
• Total project cost: $1.2 million

• Tax credit: $200,000

• Address: 521-523 East 12th St.

• Project: As part of the larger Losantiville Apartments affordable
housing project, these properties will be converted into six
residential units.

• Jobs created: None

http://news.cincinnati.com/article/20130103/BIZ/301030098/Brewery-remake-gets-1M-tax-credit-boost

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