Montgomery Quarter is redefining development outside the city center.
Corrie Schaffeld | Cincinnati Business Courier
Day in and day out, Andrea Anusbigian arrives at her downtown Montgomery restaurant and bakery, the European Cafe, early in the morning to bake the fresh pastries her customers expect. Anusbigian, a longtime Montgomery resident and new business owner in the historic Heritage District, has always been a fan of the city. But she can’t wait for what’s coming.
“It’s going to bring more people to the city. It’s going to be great for all the businesses. It’ll give us plenty of business to share,” Anusbigian said. “We’re super excited for it.”
For as long as most Cincinnatians can remember, Montgomery has been an affluent bedroom community for workers headed elsewhere. Its highly rated schools, historic downtown and easy access to Interstate 71 make it the perfect commuter town for someone looking to settle down and raise a family.
But, in many ways, Montgomery has been stuck in the past, with little means to attract new and younger people. A substantial sector, 23%, of the city’s residents are 65 or over, according to the latest census data. (Comparatively, Cincinnati’s senior population sits at about 13%.)
Insert Montgomery Quarter, the first phase of which is a $150 million development bringing hundreds of thousands of square feet in restaurant, retail, office and residential space. City leaders hope the project will serve as a door to Montgomery’s future, meeting demand for a complete community experience.
When completed, the development will add 38,000 square feet of retail and restaurant space, 260,000 square feet of office, 148 luxury apartments, 48 condominiums, a boutique hotel and a public park. As construction continues, Montgomery Quarter has already landed top-tier tenants such as Fifth Third Private Bank, the division of downtown-based Fifth Third that provides services to high-net-worth clients, Bru Burger Bar and upscale menswear shop Hellman’s.
“Montgomery Quarter is an incredible project,” said Brian Riblet, Montgomery city manager, adding that it “creates an amazing southern gateway.”
The city collaborated with Montgomery Gateway Partners LLC, a combined development effort between Brandicorp and Neyer Properties, to turn the massive project – in the works for over 15 years – into a reality. Parts of Montgomery Quarter are open for business, with other sections soon to follow.
“It’s taking the success of Montgomery and recognizing the history but putting in additional amenities for the entire community and the surrounding areas,” said Dan Neyer, CEO of Neyer Properties.
Mike Brandy, president of Brandicorp, agrees. “Everything works together,” he said.
Mixed-use developments similar to Montgomery Quarter, pedestrian-friendly projects blending residential and nonresidential buildings, have ballooned in recent years, becoming one of the most – if not the most – popular development options in the nation.
“Mixed-use is certainly all the rage,” said Carl Goertemoeller, executive director of the University of Cincinnati’s Real Estate Center within the Carl H. Lindner College of Business.
According to Goertemoeller, consumer demand is driving the trend. “They like the convenience factor,” he said.
“Twenty years ago, if you would have suggested to someone that they live or work in an office building above a shopping mall, they would have completely rejected the idea,” he said. “Now, integration is becoming much more common.”
Goertemoeller thinks one of the biggest factors in the mixed-use boom is the desire to reduce reliance on cars, prioritizing the convenience of walkability. Downtown Montgomery offers just that.
Though mixed-use development is on the rise, it’s not exactly a new idea. According to commercial real estate data platform Reonomy, for many years development in the U.S. was concentrated in urban areas where mixed-use was king. It wasn’t until the rise of the automobile in the 1920s and the expansion into the suburbs after World War II that urban investors began to sell their mixed-use properties.
Montgomery didn’t immediately benefit from America’s increasing access to cars, being regarded as a “sleepy village” for the first half of the 20th century, according to the city’s website. But during the 1950s, the town prioritized growth, and the population swelled from 750 in 1955 to 3,700 by 1963.
The Montgomery Quarter development will also have an “economic bounce impact,” Riblet said, and could generate over 1,000 jobs to augment the vitality and experience of the city’s historic Heritage District.
Construction will run in two phases. The first is almost complete — Hellman’s and some office tenants moved in last month. Restaurants will begin opening in October, and apartments are expected to be fully occupied by next summer.
The project’s second phase includes boutique hotel Tapestry by Hilton and another office building. With economic uncertainty surrounding supply chain issues and a possible recession, developers expect to begin construction on the hotel sometime next year.
“If we tried to start this project today, it couldn’t be done because of the challenges with construction projects and costs,” Neyer said. “(Prices) are much higher than when we started, though it was critical that it started when we did. Otherwise, it would have remained a parking lot.”
To make Montgomery Quarter safer for walkers, the city added an $8 million, two-lane roundabout at the interchange of Montgomery Road and Ronald Reagan Cross County Highway, which enabled a more efficient and slower flow of traffic.
Although walkability is a focal point of the development, Montgomery Quarter will include several parking garages providing more than 900 spaces along with on-street parking. The apartments and condominiums will have their own private parking.
Neyer, who grew up in nearby Kenwood, believes retail in Montgomery suffered due to a lack of ample parking, a challenge that needed solving if the development is to become a regional draw. In response, the amenities were constructed directly above parking facilities. “(It’s) an abundance of parking not just for our development, but for the rest of the quarter.”
Riblet, who has been with the city for every step of the development, traced the project’s origins to May 3, 2006, when Montgomery City Council passed Ordinance No. 10, rezoning the property where Montgomery Quarter now sits.
In 2013 and 2014, the city acquired the former Ford dealership at 9260 Montgomery Road and the former Chevrolet dealership at 9292 Montgomery Road, as well as 3 acres from Hamilton County.
“Our city council knew if we wanted to control the vision for the site, it was important to own it and drive the vision,” Riblet said.
The city also wanted to make sure the 10,000 current Montgomery residents were kept up to date on the project, Riblet said. It hosted open houses, posted updates in its monthly bulletin, and surveyed residents.
With the development, both Neyer and Brandy agreed they didn’t want to change the spirit of such a great community. “We want to enhance Montgomery,” Brandy said. “It’s not a standalone development.”
From her centrally located cafe, Anusbigian knows the potential the development has for both her business and every business in Montgomery.
“If you’re not happy about this development, you’re probably not happy in life,” she said.
© 2022 American City Business Journals. All rights reserved. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated January 1, 2021) and Privacy Policy and Cookie Statement (updated July 1, 2022). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.
About Author
