Cincinnati Tower Receives Funding
Financing for the "Great American Tower" has been approved. The Port of Greater Cincinnati Development Authority has agreed to provide more than $300 million in financing for the Great American Tower at Queen City Square. The building will be 41 storys and will be located on the east side of Sycamore between Third and Fourth streets. The bond financing includes $64 million in tax increment financing revenue bonds and $259 million in lease revenue bonds.
The project will be owned by the Port Authority and will be leased to an affiliate of Western & Southern with an option to buy. Previously, the City of Cincinnati approved $3.75 million for new sidewalks and other public infrastructure improvements for the project. Construction of the building is scheduled to begin in 2009. The project is currently scheduled to be finished in late 2010 with occupancy in early 2011. The Tower will include an 11-story, 1,700-space parking garage as well as a 25,000-square-foot pedestrian promenade and retail arcade. See http://news.cincinnati.com/article/20081121/BIZ01/311210035/1055/NEWS
Post a comment:
Ask the Blogger
Do you have a topic that you would like discussed in a future blog article? Please let us know. If you have a confidential question regarding a blog article, please feel free to contact the article's author directly, or let us know if you would like for someone to contact you directly.
Attorney Spotlight
C. Michael Shull, III focuses his practice on construction law and litigation. Michael's client representations range from casinos and ENR Top 400 contractors to design firms and subcontractors.