The city council of Blue Ash, Ohio, recently approved a $1 million forgivable loan for Kansas City-based VanTrust Real Estate to build Landings Park, the third building in the Landings office development.
The city of Blue Ash currently has a Class-A office vacancy rate of 5.4 percent, far lower than the office vacancy rate for entire Cincinnati market of about 16 percent.
The construction of the 143,000-square-foot office building will create space for 500 to 700 jobs once the building is fully occupied. This should generate $400,000 to $500,000 in additional annual earnings tax for the city of Blue Ash.
Landings Park will begin construction this fall, and will complete the triad that was initiated in 2005 with Landings I and II. The third and final building will feature four floors instead of five, to allow for higher ceilings. VanTrust plans to complete the $20 million project by the end of the third quarter of 2016.
VanTrust has hired Colliers International to market the building.