New downtown development will feature Kroger, apartments and garage

Описание: CINCINNATI (WKRC) - 3CDC, the city of Cincinnati and Kroger announced a new 18-story building that will be built at Walnut and Court Streets downtown. That new building will include a new Kroger store.

The $90.5 million development project will be mixed use. In addition to the Kroger, there will be 139 apartments and a 555-space garage.

The nation's largest grocery chain, founded in Cincinnati 134 years ago, will sell food again where it all began: Downtown.

The new development will not only be a new Kroger, but also a project with parking and apartments.

Central Parkway and Walnut are just a couple of blocks from Kroger's corporate headquarters and about half a mile from Kroger's small store in Over-the-Rhine.

The 18-story development has a price tag of $90.5 million. That will mean $19 million from Kroger and $8.5 million from the city and the rest from development partners.

There are also some tax credits.

It will not be like a suburban Kroger, with a huge parking lot. Parking here will go on top of the store.

There will be 555 spaces, some for shoppers, some for apartment residents.

There will be 139 market rate apartment units above the parking.

Construction is expected to start this summer with completion in two years.

"We've often said the question of a downtown Kroger store wasn't if, but when," said Kroger CEO Rodney McMullen. "We've been working with the city for a long time to identify the right location, the right project, and the right partnerships."

"And now they're putting in a flagship urban store which is a sign that our urban renaissance will continue," said Cincinnati Mayor John Cranley. "A rising tide lifts all boats, and we're going to continue moving forward and having this kind of progress."

"Together we will continue the successful growth of our residential base. we are all local, this is our home. and we have a successful record of residential development in downtown Cincinnati," said Tony Hobson

There's always a kind of chicken and egg question in development. Does a grocery store drive housing, or does housing drive a grocery store?

Well, in the case of this development, you'll be able to buy both chicken and eggs and figure it out for yourself.

Once the new store opens, Kroger will close its store on Vine Street in Over-the-Rhine and donate the building to 3CDC for redevelopment.

The 60 workers at that store will be offered other jobs with the company.