CIG Communities plans $70 million transformation of former Linwood factory

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CIG Communities plans to rehabilitate part of the former RK LeBlond Machine Tool Company in Linwood, while also adding 271 apartment units in new buildings and 417 spaces in two parking garages, a $70 million investment.

CIG will build two new four-story apartment buildings on 7.3 acres at 4575 Eastern Ave. in a project it is calling the Jasper. The project will include market-rate units as well as income-restricted units, a rare proposition in that part of the city. The developer is keeping a stone clock tower and one of the warehouse buildings. The southernmost building will be reused for 185 of the parking spaces and 44 apartments.

“We believe our project will allow the neighborhood to thrive,” McKelvey said. “This proposal is about adapting to the needs of the neighborhood.”

Portions of the structure, most recently home to Wine Cellar Innovations, date back to 1898.

About 10% of the units will be affordable for those making 80% to 100% of the area median income. A single person making 80% of the area median income makes $56,650, while a family of four makes $80,900. Vice Mayor Jan-Michele Lemon Kearney asked whether CIG could include any apartments at 60% of the area median income, but McKelvey said those would not fit within the project’s financing.

CIG, based in downtown Cincinnati, manages more than 1,200 multi-family homes and has another 1,500 units in various stages of development and construction. Its communities are in the Midwest, Mid-Atlantic region and the southeast United States.

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