By Adrian Maties, Associate Editor<\/p>\n
After years of court battles and financial difficulties, a $125 million project will begin construction in Norwood in November,\u00a0helping to propel the city forward and overcome years of budget deficits. For nearly 10 years,\u00a0 on a 12-acre site known as the Rookwood Exchange, weeds have been the only things growing. The time has come for them to make way for a variety of property types.<\/p>\n
Jeffrey R. Anderson Real Estate is in charge of the project. The original plans called for hotels, offices, restaurants, a theater, a parking garage, retail and apartments. The new development will include all but the additional retail and the residences.<\/p>\n
A 123-room modern Courtyard by Marriott hotel and a 16-screen movie theater, including a 7,000-square-foot restaurant and bar, will open next fall. The hotel’s bar and bistro will seat 50 to 60 people; it will also\u00a0feature\u00a03,000 square feet of meeting space and an indoor pool.<\/p>\n
A \u00a0four-story, 900-car parking garage will be built to support a future eight-story office building on top of it.\u00a0The firm will eventually add two large upscale restaurants, offices and one or two additional hotels.<\/p>\n
The city of Norwood will provide $25 million in tax increment financing. The money will finance the parking structure and surface lots, traffic improvements and a new traffic light on Edwards Road.\u00a0Anderson will also add a new road from Edwards vertically through the site, connecting to Edmonson at the traffic light that currently leads into Rookwood Commons.<\/p>\n
U.S. Bank and Fifth Third Bank are financing different portions of the project. Both have partnered with Anderson on other projects; U.S. Bank, for instance,\u00a0helped to finance Rookwood Commons and Pavilion.<\/p>\n
Anderson hopes to ink deals with two upscale restaurant operators in the coming months and also expects to bring a bank branch to the development. The company will employ as many as 750 contractors and 200 full-time employees at opening next fall.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Adrian Maties, Associate Editor
\nAfter years of court battles and financial difficulties, a $125 million project will begin construction in Norwood in November,\u00a0helping to propel the city forward and overcome years of budget deficits. For nearly 10 years,\u00a0 on a […]<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1583,21742],"tags":[],"class_list":["post-1004052202","post","type-post","status-publish","format-standard","hentry","category-cincinnati","category-latest"],"acf":[],"yoast_head":"\n