Economic Development

Vernon Manor project wins $4.5M in state funding

Business Courier of Cincinnati

A plan to redevelop the former Vernon Manor hotel into office space for Cincinnati Children’s Hospital Medical Center received a boost from the Ohio Department of Development.

The Build Cincinnati Development Fund won $4.5 million from the Ohio Enterprise Bond Fund for the project and has been recommended for a $3 million Urban Redevelopment Loan, the department said in a news release. That will help fund the renovation of 156,000 square feet of the building and construct a $10.5 million public parking garage. Cincinnati Children’s plans to use the space for research and back-office operations.

Developer Al Neyer Inc. is in the process of acquiring the property and is working with the city of Cincinnati on the project. The city and the Corryville tax increment financing (TIF) district are also helping to fund the redevelopment.

The 86-year-old Vernon Manor closed in March 2009. During its heyday, the historic Avondale hotel had hosted the Beatles, Bob Dylan and Willie Nelson, among others.

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