Cincinnati – Be prepared to wait at least four to six months for roofing materials. Expect more office-to-apartment conversions in the region, and keep your eyes on the Banks.
Cincinnati – Be prepared to wait at least four to six months for roofing materials. Expect more office-to-apartment conversions in the region, and keep your eyes on the Banks.
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From across construction, multifamily housing, the industrial sector and more, individuals spanning the commercial real estate industry received updates on different market sectors at Midwest Real Estate News’ seventh annual commercial real estate summit.
The apartment and multifamily housing sector saw considerable impact from the Covid-19 pandemic, with many moving as working from home became the new norm. As the dust continues to settle, panelists said the foundation of a strong apartment market is still there.
Panelists agreed the trend of converting offices to apartments would likely continue.
The future of the Banks also was discussed by panel moderator John Rickert, president and executive managing director of Lee & Associates | Cincinnati, and Tracy Schwegmann of Jeffrey R. Anderson Real Estate Inc.
The Banks have seen a new life breathed into them in recent years, and Schwegmann now says the question is how to keep the riverfront energized when it’s not game day. She pointed to a few parcels east of Paycor Stadium that are currently undeveloped but remain prime real estate as the nearby convention center district reckons with its future. The land could become a hotel, mixed-use or even multifamily housing, she said, noting the Banks is “the ultimate playground” for live, work, and play.
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