BELLEVUE, Ky. – Work will soon begin on a vacant warehouse in Bellevue to transition it into a residential use.
The $10 million dollar project, called Kent Lofts, aims to take the 1930’s storage warehouse with broken out windows and tattered brick exterior and transform it into market-rate loft units. Bellevue City officials see this old warehouse as a game changer.
“It is a real big deal for Bellevue,” Bellevue City Administrator Kelly Spoelker said.
The Kent Lofts are expected to have an urban chic feel that appeals to millennial students, empty nesters, and corporate workers in downtown Cincinnati.
“If you take a look at Bellevue, it’s safe, it’s clean, and it’s close to the urban core and people are recognizing that,” Spoelker said.
The area around the warehouse includes single family homes and some retail, but city officials expect the development to bring a lot of changes.
“The neighborhood is going to be revitalized over the course of time,” Spoelker said. “That’s our goal.”
Bellevue’s city planning and zoning committee approved the plan this week. Since Bellevue will hold the title to the land, Orleans won’t pay property taxes on the building, but it will pay a portion of the yearly amount to the city and area schools.