Welcome to the vibrant world of Factory 52, where every brick tells a story and every development unveils a new chapter in our community's journey! Today, we're excited to share the latest updates on our evolving landscape as featured in the Cincinnati Business Courier.
A New Horizon: Factory 52 Phase 1B
In the spirit of progress, we've embarked on Phase 1B, a thrilling new chapter in the reimagining of the former U.S. Playing Card site. At the core of this phase is a $25 million investment in an apartment building set to bring 128 new units in 2024, catapulting our residential count to a remarkable 440 units. Tailoring our offerings to the diverse needs of our community, we're focusing on smaller units, predominantly studios and one-bedroom apartments.
Architectural Tale: Past, Present, and Future
Our design narrative, crafted in collaboration with GBBN, is a celebration of architectural harmony. Dark brick, copper balconies, and distinctive metalwork pay homage to Factory 52's historical roots while providing a forward-looking glimpse into the future of contemporary developments near Interstate 71. Our structures don't just stand; they resonate with the evolving spirit of Factory 52.
Nick Lingenfelter, our Chief Development Officer, encapsulates our vision, stating, "As we continue to progress forward, we are going toward, ‘Where is Factory 52 going next?’ and trying to show that evolution through our building materials."
Milestones in Motion: Anticipated Timeline
With construction in full swing, visual movement on-site is expected between January and February 2024. The first units are slated for turnover by the end of 2024, with a completion target set for spring 2025. Rent pricing, a reflection of market dynamics, will be decided closer to completion.
Diverse Living Spaces: The Loft-Style Experience
Beyond the residential building, we're adding eight loft-style rental units atop the former U.S. Playing Card power plant site. Expected to be completed in March 2024, this building not only offers unique living spaces but also hosts ground-floor retail spanning 6,000 square feet, seamlessly integrating with the surrounding parks.
Looking Forward: Dreams Beyond Phase 1
Our journey at Factory 52 doesn't end with Phase 1B. We're dreaming bigger and actively exploring opportunities for future developments. In January to February 2024, we'll be unveiling plans that might include a hotel, office building, and a final apartment building.
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