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Thirty high-end condos coming to Hyde Park
CINCINNATI (Angenette Levy) -- Construction will start in a couple of weeks on 30 new luxury condos.
They will occupy a couple of lots at the corner of Observatory and Shaw Aves. Developer Rick Greiwe is building the condos at 2770 Observatory. He bought several lots that used to be occupied by apartment buildings to make way for the condos.
"We've designed an exceptional landmark as a gateway into Hyde Park. It's crisp, clean modern architecture that will be exciting to live in," Greiwe said.
Renderings of the condos were posted online recently. They will range in size from 2,000 to 4,000 square feet. They start at $700,000 and top out at $2 million.
"We view our audience as an empty-nester. Someone who's got the kids off to college and wants to simplify their life," Greiwe said.
The location of the condos is part of that effort to simplify. The condos that Greiwe builds are in walkable neighborhoods and are near business districts. The new condos are a block and a half from Hyde Park Square. Community council president Rob Pasquinucci believes that will be a plus for the square.
"It provides an opportunity for our businesses here in Hyde Park Square to have more customers, have more people come into the shops, more people coming to eat and drink so that's great," Pasquinucci said.
Greiwe calls Hyde Park one of Cincinnati's most desirable neighborhoods. He said he's always wanted to build in the neighborhood. He's built condos downtown and in Mariemont.
"We think this will draw residents from the whole tri-state region. People identify with Hyde Park Square, with the market, the great retail restaurants and its proximity to downtown."
Workers will start excavating here in a couple of weeks and then build the foundation. Five of the units have been sold. Greiwe hopes that all of them will be sold when construction is finished next year.
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