$1.5 Billion Development Planned for Cincinnati Exurb
"With plans to build about 50 homes and a commercial plaza resembling a 'town center,' a developer is planting a seed that over the next few decades could grow into essentially a built-from-scratch village in rural Warren County," reports Kaitlin Schroeder.
The developer is Otterbein Senior Lifestyle Choices, the development is called Union Village, and the county is located just northeast of Cincinnati. The price tag for this master-planned mega-project: $1.5 billion.
"The long-term goal is to build out 4,500 homes through a mix of single-family homes, condos and apartments, attracting 12,000 new residents to Turtlecreek Township," adds Schroeder.
The article includes more details about the construction plan and footprint of the project. Also included in the article: the tax incentive package approved by Turtlecreek Township to pave the way for the development. According to Schroeder, "the township approved creating tax increment financing districts that would mean 50 percent tax cuts for 30 years on most of the project where there's a mix of residential and commercial, and would cut all property taxes on smaller areas of commercial development for 30 years."