CINCINNATI -- The city of Cincinnati plans to sell 98 acres of vacant land at the old Blue Ash Airport to Al. Neyer, LLC for a new mixed-use development of residential and office space.
Neyer agreed to pay the city $8.3 million, with plans for 400,000 to 500,000 square feet of office space, according to documents from the city's Planning Department. The number of residential units wasn't specified.
City staff recommended the Cincinnati City Planning Commission approve the deal at its meeting Friday. Then it would go to Cincinnati City Council for final approval.
The city issued a request for proposals in January for developing the land, left over from the airport's closure in June 2012. It had been operating at a loss for several years; at the time, Cincinnati owned two airports, including its still-operational Lunken Airport in the East End neighborhood.
The city of Blue Ash bought some of the old airport grounds -- 130 acres -- to convert into Summit Park.
Some of the proceeds from the city's sale of Blue Ash Airport property -- $15 million -- have already been set aside as a contingency if it loses a lawsuit against Duke Energy over who should pay the cost of relocating utilities for the Cincinnati Streetcar project in Downtown and Over-the-Rhine.