Published on : Saturday, November 10, 2018
OTR Holdings Inc., a subsidiary of Cincinnati Center for Development Corp. (3CDC), which owns the buildings – has agreed to sell the properties for an undisclosed price to an unnamed developer.
A spokesman for 3CDC said he couldn’t disclose the name of the buyer because the buyer was still in the process of completing due diligence on the properties.
But Rolling Hills Hospitality – a Fort Mitchell-based hotel management group – has petitioned the Cincinnati Planning Commission to allow the properties to be transferred to the city and then back to the developer to qualify for tax-increment financing, according to the planning commission’s agenda for Nov. 16. Calls to Rolling Hills were not immediately returned for comment Friday morning.
According to the agenda, the developer plans to renovate the buildings with an addition in the rear of the properties at 308-316 Main St., which are located within the Third-Main Street Local Historic District.
The project design was reviewed and approved by the Historic Conservation Board of Cincinnati on Aug. 6.