Former Cincinnati school transformed into (really cool) apartments
Tom Demeropolis | Cincinnati Business Courier
Core Redevelopment has been busy in Cincinnati.
The Indianapolis-based real estate company already renovated the former School for Creative and Performing Arts in Pendleton into Alumni Lofts. Now, it’s just finishing up work on the former Windsor Elementary School in Walnut Hills, converting the school buildings that date back to 1888 into 42 market-rate apartments.
Michael Cox, developer with Core Redevelopment, said the rehab wrapped up in March and leasing is well underway. The first tenants have already started moving in.
Located at 937 Windsor St., the Windsor School site includes two buildings: the original school dating to 1888 and a detached annex building constructed in 1919. Cincinnati Public Schools operated the buildings until 2004 and later auctioned the property.
An affiliate of Core Redevelopment purchased the property in May 2014 for $425,000. It will include mainly one-bedroom units with about 800 square feet of space, high ceilings and lots of natural light.
John Watson, CEO of Core Redevelopment, has said he was attracted to the building and the neighborhood, which is close to downtown.
“Walnut Hills is one of those neighborhoods on the verge of full-blown redevelopment,” Watson told me in 2014.
The total project cost is estimated to be more than $9.1 million. The project was approved for more than $900,000 in Ohio Historic Preservation Tax Credits.
The apartments at Windsor Flats are truly unique as the developer maintained many of the building’s features from its time as a school. Apartment features include granite countertops, stainless steel appliances, modern cabinets and hardware, and gated parking.
There are one-bedroom and two-bedroom units at Windsor Flats. The rent ranges from $909 to $1,009 per month for one-bedroom apartments, while two-bedroom apartments are $1,469 per month.
Core Redevelopment is currently building a three-story, 48-unit building next to the former school. Those additional apartments are expected to be complete toward the end of the summer, Cox said.