Neyer Properties received a signed development agreement from the City of Cincinnati earlier this month allowing the Three Oaks project to continue to move forward. The development agreement provides financing for the project through various, bond sales, tax abatements, and increment value capturing methods.
Neyer had previously received approval from City Council on the overall design for the development in April.
Additionally, prep work on the site continues with Charles Jergens Construction and Sunesis Construction facilitating the concrete crushing, underground foundation removal, and backfill operations. Earthwork at the site is projected to begin in June.
Three Oaks will be comprised of up to 106 single-family homes, approximately 390 apartments, and approximately 200 senior living units. Neyer hired M+A Architects for the master planning of the site.
“The plans for Three Oaks support many of the goals of the Oakley Master Plan in repurposing this old manufacturing site, increasing residential growth in Oakley, increasing single-family home ownership, and increasing green space, which includes a community park and walking trails,” said Dan Krohn, Oakley Community Council member and long-time Oakley resident. Neyer Properties worked with the Oakley Community Council to ensure Three Oaks matched the look and feel of the neighborhood as well as supported the community’s larger goals.
Neyer Properties is also working with Oakley Community Council on a pedestrian walkway under the railroad tracks to the north of the site which will connect the rest of Oakley with easier access to the amenities existing at Oakley Station.
“The walkway would be truly transformative for the connectivity of the Oakley community,” said Krohn.
“I believe this development will be used as an example on how best to enhance an existing neighborhood and community by adding a very pedestrian friendly approach for walkable amenities nearby, such as Oakley Station, and for connecting neighbors,” said Dan Neyer, President / CEO of Neyer Properties. “Our Three Oaks development fits well with the active lifestyle approach that many people crave and will give the added benefit of less car traffic and thus a reduction of our carbon footprint,” said Neyer.