The building at 8600 Governors Hill Drive in Symmes Township will be transformed into about 201 class A apartments with a cost totaling $40 million.
On the national level, only about 10% to 15% of all office buildings can be converted into apartments, Ackermann Group CEO Dobbs Ackermann told the Business Courier. In Cincinnati, many of those types of conversions are starting to happen, but mostly in the city’s urban core.
“These are assets that will stand for 75 or 100 years and need to be constructed and positioned the right way because they need to be an asset to the community, not a drag on the community,” Ackermann said.
The apartments at Governor’s Hill will include a mix of studio, one-bedroom and two-bedroom units, with a variety of floor plans that include patios, garages and laundry rooms. The apartments will range from 716 to 1,429 square feet.
The property will include a “resort-based model” of amenities. The site design also calls for pickleball courts, a lap pool, a fitness center and grilling stations.
Ackermann expects to start the project by this summer – after receiving the last of its county approvals and permits – and finish around December 2024. The apartments would then open in January 2025.
#Cincinnati #Ackermanngrouo #officeconversion #renovation #conversion #multifamily #apartments #amenities # #design #community #building #project #ceo
