Construction progress at 8th & Sycamore – Central business district

UPDATE:

8th and Sycamore, now known as Encore, is complete and apartments are available for lease.


Construction is under way on the 8th and Sycamore 15-story, mixed-use apartment building and parking garage. This project is another sign of the popularity of living downtown, and will add 130 new apartments to a formerly industrial district.

Working with the developers and the City of Cincinnati, the Port Authority is taking a development finance role, owning portions of the project, which it will lease to the apartment developer, an affiliate of North American Properties.

The Port Authority’s incentives have made this project economically feasible, according to Tony Hobson, Partner with North American Properties. “The Port has been wonderful to work with.”

“Without the Port’s sales tax exemption, we could not build this project.”
— Tony Hobson, Partner, North American Properties

“The City of Cincinnati asked the Port Authority to involve our public finance tools in this important project,” according to Susan Thomas, Port Authority Executive Vice President. “When a project is sizable, Port Authority ownership and incentives can decrease the amount of direct subsidy that is made by the municipality, in this case, the City.”