MLK Investors, a partnership between Neyer Properties and Kulkarni Properties, is pleased to announce Phase I of the northeast quadrant development at the Reading Road and Martin Luther King Jr. intersection. Branded “the node”, this first phase is approximately 4 acres of the 20 acre development.
The brand “the node” represents that this development is just a portion, or node, of the overall interchange and is a point at which paths, people, and ideas will intersect and connect.
Phase I of the node will include approximately 130,000 square feet of research/office space, a 160 room Class-A hotel, 180 multi-family residential units and up to 10,000 square feet of retail and restaurant space. The development will also serve as an anchor for the Avondale and Uptown communities, offering an open gathering space within the site for community programming.
“Phase I of the node is just the beginning of something significantly larger,” said Chris Dobrozsi, Vice President of Real Estate Development at Neyer Properties. “Our development, and all developments around the new MLK interchange, will build upon the great work already started through UC’s 1819 Innovation Hub and the recently announced UC Digital Futures building.”
Phase I, together with the three future phases, is anticipated to include multiple public parking garages, more than 500,000 square feet of research/office space, more than 300 multi-family residential units, and two Class A hotels.
According to OKI’s recently released Jobs Hub Map, over 43,000 people commute into Uptown for work, whereas just over 400 people both live and work in Uptown. The node will have all components for live, work, and play, making the site truly be an 18 hour development.
“We want people to stay in Uptown”, said Shree Kulkarni, President of Kulkarni Properties. “Keeping people in the Uptown area outside of the workday by catering to the ‘live and play’ aspects is critical to creating a sustainable community.”
The node’s residential component will provide an option for those commuting into Uptown for work. This also benefits the employers in the area in terms of talent
attraction and retention.
“The long term health of this development is directly related to the long term health of the surrounding communities and region,” said Dan Neyer, President and CEO of Neyer
Neyer Properties and Kulkarni Properties has been actively working with the Avondale community in the development planning process. “The Avondale Community Council is supportive of the project and commends Neyer/Kulkarni team for working with the community to understand our concerns and incorporate feedback from residents into their design,” said Avondale Community Council President Patricia Milton. “The Innovation Corridor will be transformative to the neighborhood and resident voices are critical to the success of the projects.”
The node will complement the Uptown Innovation District by promoting an environment of innovation to create, maintain and attract top talent to the City while leveraging the significant investment to date by the City of Cincinnati, University of Cincinnati and Cincinnati Children’s Hospital as well as several other institutions in Uptown.
“The addition of retail and residential space in this development helps provide the amenities needed to attract talent and high-growth companies to the Uptown Innovation Corridor,” said Beth Robinson, President and CEO, Uptown Consortium, Inc. “We look forward to continue working with MLK Investors I to help integrate the node into the Avondale community throughout the entire development process.”
The node’s innovative design and sense of place will set the image of the Uptown Innovation District as not just a great place to innovate, but the premier place to innovate in the region.
The development recently received unanimous approval from Cincinnati City Planning Commission for a zoning change to planned development from commercial community pedestrian and residential mix.
MLK Investors plans to break ground on Phase I in late 2019. CBRE is listing the office portion of the development and MLK Investors is actively working with both a hotel brand and multifamily developer, to be announced in the coming months.
The node is bound by I-71 to the east, Martin Luther King Drive to the south, Reading Road to the west, and Whitter Street to the north. The entire 20 acre site is envisioned to be a $500 million dollar mixed-use Live-Work-Play development and an integral part of the Uptown Innovation District spearheaded by Uptown Consortium. This world-class, mixed-use development will be home to future-facing R&D facilities, while also providing office, retail, housing and hospitality, driving new jobs and growth for the City for years to follow.
ABOUT MLK INVESTORS
MLK Investors I, LLC, is a joint venture development partnership between Neyer Properties, Inc. and Kulkarni Properties. MLK Investors I was formed in late 2015 and the two companies have worked tirelessly to bring to life a project that will transform the community for generations to come.