'Critical piece' of College Hill business district will see a new future thanks to sale

A "critical piece" of College Hill's business district has a new future thanks to a recent sale.

The College Hill Plaza, a 3.8-acre property at the southern end of the business district, was purchased by the College Hill Community Urban Redevelopment Corporation in a "once-in-a-generation" acquisition, the nonprofit wrote in a news release Wednesday.

The nonprofit said it purchased the property on Hamilton Avenue from an unnamed out-of-state investor for $3.8 million with the help of funding partnerships.

The sale comes roughly four months after College Hill business owners and community council said in a letter to Cincinnati City Manager Sheryl Long that the plaza is "a continuous source of litter and blight and is in dire need of repairs such as new awnings, fencing and restriping."

They expressed concern that "as a prominent gateway to our business district, College Hill Plaza's deterioration will likely negatively impact the overall appeal and safety of our community."

The residents wrote in the letter that they supported an acquisition by the nonprofit, which is dedicated to revitalizing the neighborhood.

The acquisition is one of the largest real estate transactions in at least 30 years in College Hill and the "most consequential" in the 49-year history of the development corporation, the release states.

In the release, the College Hill Community Urban Redevelopment Corporation described the plaza as "a critical piece of the business district’s southern gateway."

The nonprofit added that it plans to "transform the plaza into a more welcoming entrance and experience" by addressing safety concerns, improving the storefront's exteriors, landscaping, cleaning up litter, updating signs and repairing fences.

This will uplift the 11 businesses that currently operate within the plaza, they said. According to Google Maps, Family Dollar, a barbershop, a daycare center and a men's apparel store are a few of these businesses.

Emmanuel Karikari, CEO of College Hill Community Urban Redevelopment Corporation, expressed gratitude in the release for the nonprofit's lending partner LISC Greater Cincinnati, as well as the Greater Cincinnati Foundation, HomeBase Cincinnati, Carol Ann and Ralph V. Haile, Jr. Foundation and the Duke Energy Foundation.

"Site control over the plaza will ensure that we can safeguard the progress we, as a community, have made to date in our efforts to revitalize the business district and it's a critical piece to our continued success as a community."

This article originally appeared on Cincinnati Enquirer: 'Critical piece' of College Hill business district will see a new future thanks to sale