$7.8 to 8.9 million development proposed next to Loveland Kroger
Loveland, Ohio – The Loveland Community Improvement Corporation (CIC) voted unanimously on Tuesday March 22 in favor of selecting the Schueler Group of Lebanon, Ohio as the “Preferred Developer” for the purchase and development of the former Loveland Lanes bowling alley. The site is 6.5 acres located at 897 Loveland Madeira Road across from the Loveland Kroger store.
City Manager, Dave Kennedy said in a press release, “The Schueler Group has extensive expertise in commercial, retail and mixed-use developments, as well as design, planning, construction and property management.” The plan includes a combination of professional/medical office and retail, including restaurant space. Construction is planned to start in April 2017.
Kennedy added, “We are looking forward to working with The Scheuler Group. They have a proven track record in Ohio, and the tristate region, and they submitted a fantastic proposal complimenting the City’s vision for the redevelopment of the property.”
Kennedy and Rob Stansel, the city economic development consultant sat down with Loveland Magazine this morning at city Hall to discuss the details of the proposal and how it came about.
The Scheuler Group presented two possible concepts they have in mind. Depending on their marketing, one will later be chosen or an alternative may come forward. Stansel said the completed construction will be valued between $7.8 to 8.9 million. Both concepts contain a mixture of office and retail spaces. One contains a proposal for a restaurant with outdoor seating hanging over the steep ravine and small stream on the south of the site.
Kennedy said the Scheuler Group will pay $540,000 for the site and said the city has invested $539,000 in the property. The CIC purchased the site in 2014 and has since demolished the bowling alley using Hamilton County grant money.
The Community Improvement Corporation (CIC) is the quasi-government development agency of city hall.
The Scheuler Group and the CIC will enter into a contract that gives the developer 90-days to fully explore potential tenants and develop a final site plan. During that period, the CIC will not market the property to other potential buyers.
For more information about the Scheuler Group of if you want marketing and leasing information, contact Rob Blundred of Henkle Schueler and Associates.
Here are two videos, one the full interview with Kennedy and Stansel. The second is a condensed version of excerpts from the interview.
Well, I really like how City Council is listening to the residents of Loveland….NOT!
This isn’t about “the community”. It’s about money. The city bought the site to make sure they could control the type of thing that would go in there. They now have to sell it to someone who is actually willing to buy it – that is, a developer who can afford the half-million-dollar price tag, construction costs, and STILL turn a profit.
Apparently no bowling alley developers came forward.
This is getting ridiculous! Why not build another nicer bowling alley FOR THE COMMUNITY?? Loveland City Council needs to be replaced. So much for small town feel!