Thursday, March 25, 2004

Montgomery to choose developer in April



By Sheila McLaughlin
The Cincinnati Enquirer

MONTGOMERY - The field of developers competing for a prominent piece of land in the city's historic business district is narrowed to two.

An ad hoc committee could make a decision by mid-April between Great Traditions and Montgomery Gateway Partners - a collaboration between Daniels Homes and Builder Resources - said Frank Davis, Montgomery's economic development director. Council is expected to act on the committee's recommendation sometime this summer, he said.

Great Traditions has offered $500,000 for the 3/4-acre triangle at Main, Cooper and Montgomery roads with plans for street-level retail, upper-level condos, offices, 74 underground parking spaces and nine outside spaces.

Montgomery Gateway Partners bid $450,000 for the land, and proposed a mix of retail and office space with a two-level underground garage for up to 96 cars and seven outside spaces.

Four other developers were knocked out of the running. The city paid $1 million for the property in 2002, and demolished two gas stations and an aging bank in an effort to enhance the area.

E-mail smclaughlin@enquirer.com




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