Peeble’s Corner Revitalization: Property Development in Cincinnati

Last Updated on: 1st March 2025, 04:02 am

Project Overview and Key Developments

Historic buildings in Walnut Hills are being revitalized to create a vibrant, inclusive community. This multi-phase project is transforming the neighborhood with innovative designs and community-focused initiatives. The redevelopment aims to blend modern living with the area’s rich history, fostering urban renewal and economic growth.

Historic Site Transformation and Urban Renewal

The project began with the transformation of a shuttered grocery store into a multi-use urban development. This initiative is part of a broader effort to revitalize the Walnut Hills neighborhood, blending historic preservation with modern amenities. The Model Group has played a key role in orchestrating this multi-phased revitalization, ensuring the project meets community needs.

“This project is not just about buildings; it’s about creating a thriving community where everyone feels at home.”

Sub-Projects: Peebles Apartments, Paramount Launch, Durner Building, and Race Refrigeration Building

The redevelopment includes several key sub-projects, each contributing to the neighborhood’s transformation:

• Peebles Apartments: Offers 42 affordable housing units, ensuring access for low-income residents.
• Paramount Launch: Features 56 market-rate units, attracting a diverse demographic to the area.
• Durner Building: A 10,000-square-foot renovation that adds commercial space to the neighborhood.
• Race Refrigeration Building: Adaptive reuse as office and gallery space for ArtWorks, supporting local artists.

These projects are part of a larger effort to create a balanced mix of housing and commercial spaces, fostering a vibrant community. The Walnut Hills Redevelopment Foundation has been instrumental in driving these initiatives forward.

Innovative Design and Community-Focused Initiatives

Innovative design principles are at the heart of this project, ensuring that the redevelopment meets the needs of the community. The Model Group has incorporated features like energy-efficient systems and accessible spaces, making the area more sustainable and inclusive.

One of the key goals is to ensure that 30% of housing remains affordable for residents with 60% area median income or lower. This commitment to affordability is part of a broader strategy to create equitable access to housing and resources in Walnut Hills¹.

The project also aligns with broader goals of urban forestry and environmental justice, ensuring that the benefits of redevelopment are equitably distributed. This holistic approach is transforming Walnut Hills into a model for urban renewal.

Peeble’s Corner Revitalization Property Development Cincinnati: Project Specifics and Impact

The Walnut Hills neighborhood is undergoing a significant transformation with a focus on creating diverse living and working spaces. This project combines historic preservation with modern amenities, offering a mix of residential and commercial opportunities. The Model Group and the Walnut Hills Redevelopment Foundation are key players in this effort, ensuring the community’s needs are met.

Residential and Commercial Space Opportunities

The project includes 98 residential units, with 42 designated as affordable housing and 56 as market-rate units. This mix ensures access for a wide range of residents, fostering a vibrant and inclusive community². Additionally, the redevelopment adds 20,000 square feet of retail space, creating opportunities for local businesses to thrive³.

Mixed-use spaces are a cornerstone of this initiative, blending living, working, and cultural activities in one location. The renovation of historic buildings preserves local heritage while offering modern amenities, making the area both functional and attractive.

Construction Job Creation and Economic Benefits

The project has created 502 construction jobs, generating over $6.8 million in payroll. Once completed, it will support 126 permanent jobs with an annual payroll of $5.8 million⁴. This economic boost is a testament to the project’s impact on the local economy.

Investments in the neighborhood are also driving business growth. The addition of commercial spaces and affordable housing is attracting new residents and entrepreneurs, further revitalizing the area. This holistic approach ensures long-term benefits for the community.

Community Renewal and Economic Growth in Walnut Hills

Walnut Hills is experiencing a dynamic shift, blending community renewal with economic growth. This transformation is driven by strategic investments in affordable housing, neighborhood reinvestment, and local business support. The Walnut Hills Redevelopment Foundation plays a key role in these efforts, ensuring the community’s needs are met.

Neighborhood Reinvestment and Affordable Housing Initiatives

One of the cornerstones of this renewal is the commitment to affordable housing. Projects like the REACH program have rehabilitated homes on Morgan Street, providing safe and affordable living spaces for residents⁵. These initiatives ensure that 30% of housing remains accessible to those with 60% area median income or lower⁵.

Additionally, the renovation of residential homes and community spaces has revitalized the neighborhood. This effort not only preserves the area’s historic charm but also creates modern, functional spaces for families and individuals.

Community Engagement and Local Business Revitalization

Community engagement is at the heart of Walnut Hills’ transformation. Local leaders and organizations work together to foster civic pride and support small businesses. For example, the Walnut Hills Redevelopment Foundation has launched programs to encourage entrepreneurship and urban agriculture networks⁶.

These initiatives promote economic growth by creating jobs and attracting new investments. The revitalization of commercial spaces has also provided opportunities for local businesses to thrive, further enhancing the neighborhood’s vibrancy.

As one resident shared,

“This isn’t just about buildings—it’s about creating a community where everyone can succeed.”

Conclusion

The transformation of Walnut Hills is setting a new standard for urban renewal. This project blends historic preservation with modern development, creating a vibrant mix of residential and commercial spaces. With 98 residential units and 20,000 square feet of retail space, it fosters a thriving community and supports local businesses⁷.

The economic impact is significant, generating over 502 construction jobs and supporting 126 permanent positions⁸. Partnerships with organizations like ArtWorks and the Model Group have been crucial in driving this success. Their efforts ensure the neighborhood remains inclusive and accessible for all residents.

This initiative is more than just a development—it’s a vision for a brighter future. By investing in affordable housing and community engagement, Walnut Hills is becoming a model for urban renewal. Learn more about how you can support this effort here.

Source Links

1. https://www.wcpo.com/news/transportation-development/move-up-cincinnati/its-the-heart-of-walnut-hills-but-will-the-residents-who-call-it-home-soon-be-asked-to-leave
2. https://www.journal-news.com/news/this-troubled-cincinnati-neighborhood-is-being-targeted-by-police-and-developers/4VILYEJPQ5GX3KPH3MGQYJMUDY/
3. https://www.wcpo.com/news/insider/walnut-hills-paramount-square
4. https://www.prnewswire.com/news-releases/duke-energy-grants-205-000-to-seven-projects-to-eliminate-blight-drive-redevelopment-and-job-growth-in-greater-cincinnatis-urban-cores-300900768.html
5. https://www.cdfa.net/cdfa/cdfaweb.nsf/0/2CAD3B79B1DB3BB188257ADB005322B7/$file/Ohio DSA historic press release.pdf
6. https://www.wcpo.com/news/insider/9-neighborhoods-to-watch-in-2016
7. https://www.urbancincy.com/2011/06/is-east-walnut-hills-the-next-big-thing-in-cincinnati-neighborhoods/
8. https://www.lumarealtyohio.com/cincinnati-oh-homes-for-sale/