BY JANET C. WETZEL
The Cincinnati Enquirer
SYCAMORE TOWNSHIP -- Developers are negotiating for two prime sites in the Kenwood area, and construction is under way on a third.
The redevelopment of those areas will bring more retail and office space.
The Tristate retail hub, including Kenwood Towne Centre and Sycamore Plaza at Kenwood, already draws more than 1 million shoppers a month into the area, based on sales figures, mall officials said. Average daily traffic on Montgomery Road between Kenwood Road and Interstate 71 is 23,190; and on Montgomery, northeast of I-71, 24,970, according to 1997 Ohio Department of Transportation figures. That's primarily why demand is high for the pricey property in that area, Realtors say.
Bill Maltbie Sr., president of Wm. Maltbie & Associates Inc. downtown, a commercial real estate agency, said he has a tentative contract with a developer for the former Closson's interior designers site.
But the queries keep coming in.
"We still get a call a day on that Closson's property," Mr. Maltbie said. "They range from someone trying to open a wine store or pizza parlor to a major, national retailer."
And the Kenwood area in general is so popular, "we have a standing order for five restaurants that want to go in there," Mr. Maltbie said. "We just tell them it can't be done -- they require heavy parking, and the space is not available."
The Closson's site, in the 7000 block of Montgomery Road in Sycamore Township, has been vacant since last fall when the store relocated to Montgomery. It will be demolished and a new structure built, Mr. Maltbie said.
He declined to reveal the proposed developer, the type of business or a price on the property.
Hamilton County Auditor Dusty Rhodes said the appraised value of the half-acre-plus parcel is $634,000.
While the Kenwood area appears to be saturated, there is a trend of developers buying up old buildings and razing them to make way for new ventures.
Other redevelopment planned or under way on Montgomery Road includes:
A planned office - retail building on the site of the closed Leugers Furniture Co. in the 8000 block of Montgomery in Madeira. The auditor's appraisal of that two-parcel site totals about $1.28 million. Stewart Devitt, of Devitt and Associates Inc. downtown, who represents the property owner, said his company has a tentative contract with a developer for the 2-plus acre site.
Asking price is $2.5 million. He expects the building to be razed and construction to begin by early fall on an 80,000-square-foot retail - office building.
"I don't imagine it will take long to fill it up. That's a pretty hot area along there," Mr. Devitt said.
A strip mall being built in the 8000 block of Montgomery in Sycamore Township on the site of the former Kenwood Dodge dealership. It should be finished by late summer, said Christine Gregorio, executive assistant for Jeffrey R. Anderson Real Estate downtown.
A Star Bank under construction in the 7000 block of Montgomery in Sycamore Townshipto replace the branch on Kenwood Road. It should be finished by mid-summer, and will have a drive-in teller and automated teller machine, said Steve Dale, Star director of public relations. A planned office building on the site of a vacant house in the 7000 block of Montgomery in Sycamore. The developer, John Perin of Indian Hill, plans a two-story office building with about 14,000 square feet of rentable space.
Lori Thompson, Sycamore Township administrator, said the redevelopment "is building from the momentum and traffic generated by the major shopping centers.
"And much of the office or commercial development we're seeing is related to support services for Jewish Hospital Kenwood. We have several primary destination sites."
Those include the two malls and Jewish, which draw many people to the area and prompt businesses to want to locate here, she said. Mr. Maltbie said the demand constantly outweighs the supply in Kenwood.
