Cincinnati developer Al. Neyer has begun construction on the Offices@Vernon Place development, a 146,000-square-foot office building for Cincinnati’s Children’s Hospital Medical Center.
Al. Neyer worked with two investment groups, REEAAL and Jade IV LLC, to create an investment opportunity for minorities who are not normally included in commercial real estate ventures. The Offices@Vernon Place project is 67 percent minority managed and owned.
The city of Cincinnnati approved $7.5 million to fund the public infrastructure associated with the project’s development. PNC Bank provided additional financing support.
The four-story Ofices@Vernon Place will be home to nearly 700 workers at Cincinnati’s Children’s Hospital Medical Center. Crews are expected to complete the office building and four-tier parking garage in the third quarter of 2017.
