Ground to Break on Kent Lofts Project in Bellevue
Ground will officially be broken on the Kent Lofts project in Bellevue.
Hailed as one of the largest-ever adaptive reuse projects in Northern Kentucky's urban cities, Orleans Development and Ashley Construction will transform the former industrial warehouse into more than five dozen upscale loft apartments.
The Catalytic Fund, in partnership with investors First Financial Bank and Vision Realty, and with the City of Bellevue and the developers, announced the Thursday ceremony, which is set for 4 p.m. on the site, at 239 Grandview Avenue. The Catalytic Fund was instrumental in guiding the project.
“The Kent Building is a prominent historic asset valued by its community. We were glad we were able to formulate a development plan that saves the building and contributes to Bellevue’s ongoing development momentum," said Jeanne Schroer, president and CEO of the Catalytic Fund. "Kent Lofts will provide high-quality housing options that are in demand in Bellevue and positively impact future redevelopment projects in Northern Kentucky.”
“We're really excited to bring this iconic Bellevue property back to life. It's a great opportunity to develop an industrial style building and re-use it in a very stylistic way," said Tony Kreutzjans, president of Orleans Development.
The $10 million project overcame multiple hurdles along the way, particularly related to zoning and neighbors' concerns about parking (residents will have parking on site), but ultimately got the go-ahead from planning & zoning, and city tax incentives.
The 1930's-era building is roughly 60,000 square feet that will soon be home to more than sixty studio, one-, and two-bedroom apartment units.
Scheduled to speak at Thursday's ceremony are Kreutzjans, Mayor Ed Riehl, Jim Dady of the Bellevue planning & zoning commission, and Joe Klare, vice president at the Catalytic Fund.