Capital Investment Group Inc. broke ground on Monday, March 11, on a $13 million apartment project in Union Township, a thriving community on the outskirts of Cincinnati. It is the first urban apartment development in Clermont County.
Clermon County Commissioners David Uible and Ed Humphrey, Capital Investment Group co-founder & managing partner Kathleen Bergen, Capital Investment Group partner David Bastos and Union Township Trustees Matthew Beamer, Timothy Donnellon and Robert McGee were among those present at the groundbreaking ceremony. The Clermont County commissioners approved a tax exemption this month for the project.
The $13 million apartment complex, to be called the Lofts at Ivy Pointe, is being developed on a three-acre site at 4380 Eastgate Blvd., near its intersection with Aicholtz Road. The building will stand four stories high and will bring 133 efficiency and one- and two-bedroom residential rental units to Union Township.
Each apartment will feature granite countertops, stainless steel appliances, vinyl plank flooring, patios or balconies, ceiling fans, nine- or 10-foot ceilings, kitchen islands and a washer and dryer. Tenants will enjoy such community amenities as a club room with wide-screen TV, pool table, card room, cyber café and full kitchen with high-top tables and seating, a fitness center, a computer room, a swimming pool, an outdoor firepit, an outdoor kitchen and grill, an outdoor theater room and landscaped garden areas.
The multifamily community is located about 20 miles east of Cincinnati, in close proximity to the headquarters of Total Quality Logistics, Jungle Jim’s and the planned Cincinnati Children’s Hospital Medical Center. It was designed to attract young professionals. Since 2000, Clermont County has witnessed a 10 percent population growth that has added 20,000 new residents.
Thompson Thrift Construction is the project’s general contractor. The Lofts at Ivy Pointe is expected to be completed by March or April 2014. Rents will range between $800 and $1,200 per month, according to Clermont County’s official Web site.
Capital Investment Group Inc. built the SouthShore condominium tower in Newport, on which it is currently working on a second phase. The $15.6 million apartment building will be called Vue 180 and will include 93 high-end rental apartments along the Ohio River.
Photo credits: Capital Investment Group Inc.