Inside Carew Tower's $175M revamp: Timing, job numbers unveiled
Funds are in place to begin work on the redevelopment of Carew Tower, Cincinnati's Art Deco masterpiece. The project is expected to create more than 1,500 temporary and permanent jobs. (CORRIE SCHAFFELD | CBC)
CINCINNATI (Cincinnati Business Courier) - The long-awaited, highly anticipated $175 million residential conversion of Carew Tower is now fully funded, and work will officially commence in a matter of weeks, according to a copy of the developer’s Ohio Historic Preservation Tax application obtained by the Business Courier.
Carew Tower’s owner, Anoop Dave, president of New York City-based Victrix Investments, won $10 million for the project from Ohio’s Historic Preservation Tax Credit (HPTC) program, according to an announcement Thursday, Dec. 21, from the Ohio Department of Development.
The tax credit application shows the project also received an as-yet unannounced sum of $28.3 million from the Federal Historic Preservation Tax Incentives program.
Read the full story from the Cincinnati Business Courier.
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