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Kenwood Towne Place
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Work to resume at Kenwood Towne Place

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CINCINNATI - It won't be long until the eyesore that can be seen from I-71 in Sycamore Township begins to transform.

After three years, construction will start once again on Kenwood Towne Place, the development next to the mall that houses Crate & Barrel, The Container Store, and a few other retailers.

Local developer Phillips Edison & Co purchased the property.  The company plans to put more than $100 million into the project.

Messer Construction will handle the contracting and it work should begin in the next few months. Officials say there will be 150,000 square feet of retail space available once the project is completed.

Contractors who said they were not getting paid walked off the $175 million project in 2008.

Bank of America beat out Phillips Edison and purchased the project in a Hamilton County Sheriff's auction two weeks ago for $27.5 million.

Phillips Edison has since successfully negotiated the purchase from Bank of America.  The sale is expected to be approved by a Hamilton County Judge by the end of August.

Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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