Cincinnati, OH — CASTO, one of the country’s leading real estate organizations, recently completed the redevelopment of the former Baldwin Piano Factory into The Baldwin Apartments in Cincinnati’s Walnut Hills neighborhood. The $42 million dollar project was CASTO’s first multifamily development in Cincinnati, and was in partnership with locally-based Neyer Properties.
An official ribbon-cutting ceremony was held at The Baldwin last week and was attended by Mayor John Cranley, City Manager Harry Black, project partners and other community leaders.
“We’re just steps from Eden Park, steps from Downtown, and we’re at a gateway to Walnut Hills. This building and this project tie together many of the elements that make our city so desirable and so great,” said City Manager Harry Black.
Originally built in the early 1920’s, The Baldwin was once home to more than 2,000 employees producing over 11,000 pianos in its first five years. In 1961 The Baldwin Piano Factory relocated and in 1987 the building was renovated into office space.
“This project has transformed a 98% vacant 1980’s style office building into a vibrant centerpiece anchoring the south end of the Walnut Hills Neighborhood,” said Chris Dobrozsi, Vice President of Real Estate Development with Neyer Properties.
The Baldwin now features 190 Class-A loft style apartments and includes a large clubroom, designer finished lobby, office center, state-of-the-art fitness center, and onsite self-storage. It will also feature a new pool deck with sweeping views of the Cincinnati skyline, which is expected to be completed later this year.
The building which is now over 85% leased is part of the larger Baldwin Campus, which includes The Baldwin Offices, a 209,894 square foot building that includes Tri-Health as a tenant.
“This project has been well over two years in the making and without Dan Neyer and the team at Neyer properties this project would not have been made possible. Collectively, we came together in some capacity and were able to create a unique project and bring the historic Baldwin building back to life,” said Brent Sobczak, President of CASTO Communities.
CASTO was the development and residential property management partner for apartment portion of The Baldwin.
For more information on The Baldwin Apartments, visit www.thebaldwin.com.
CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of multi-family residences, commercial shopping centers and office buildings. CASTOs growing portfolio currently includes over 23 million square feet of commercial property and over 4,000 residential units located throughout the midwestern and southeastern United States. CASTO is headquartered in Columbus, Ohio and serves a variety of clients from five offices in Florida, North Carolina and Ohio. To learn more about CASTO, visit www.castoinfo.com.
About Neyer Properties
Neyer Properties is a full-service commercial real estate developer specializing in sustainable land development, construction management, investment, and redevelopment. The company currently owns over 4.5 million square feet of office, industrial, and retail space and has over 200 acres ready for development in the tristate area.