Neyer, city of Cincinnati map out $30M shipping hub
Tom Demeropolis • Business Courier
Neyer Properties Inc. and the city of Cincinnati plan to develop one of the largest pieces of vacant industrial land in the city into a $30 million shipping and rail hub.
The preliminary plan for the property – known as the Conrail Redevelopment Site – shows the land could be home to 670,000 square feet of new development and up to 600 jobs.
That’s according to the city’s application for a $750,000 grant from the Ohio Jobs Ready Site Program that would fund construction of a 1,000-foot access road to a 68-acre parcel of land along River Road, straddling Riverside and Sedamsville. Neyer Properties owns two-thirds of the site, which is three miles from downtown, and the city owns another third.
The investment could bring in estimated annual tax receipts of $780,000 for the city and $1.2 million for Ohio, according to the filing.
As the region looks to capitalize on a coming boom in freight, Jeff Chamot, land development manager for Evanston-based Neyer Properties, said this land offers companies access to rail, road and the river.
“There aren’t too many sites with the qualities this one has,” said Chamot, who is CEO Dan Neyer’s point person on the project.
And city officials say the site is one of the best opportunities for industrial development in Cincinnati.
“We get requests quite often for land for industrial, manufacturing-type users that we can’t accommodate because of size,” said Bob Bertsch, senior development officer with the city. He said the city wants to both retain existing companies and bring in new business by offering space in this area.
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