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Building Lots are Hard to Find

by | Jun 22, 2021 | Build Cincinnati, Building Tips, Buyers, News

If you are looking to build a new home on an infill lot in Cincinnati, you really need to understand everything that happens behind the scenes to bring an opportunity to market. In this fast paced buyers market, new home lots sell quickly. That’s why Build Collective of Coldwell Banker has a dedicated lot sourcing team to continually bring our clients the best lot opportunities possible.

So, please take a quick look at our lot acquisition process, and then browse our selection of new home lots currently on the market to purchase.

 

CONTACT US TO GET STARTED FINDING THE PERFECT BUILDING LOT FOR YOU

The Cincinnati Tax Abatement is Changing! Here’s What You Need to Know

by | Sep 23, 2020 | Build Cincinnati, Building Opportunities, Building Tips, Buyers, City / Downtown, Homearama, Hyde Park, News, Oakley

The Cincinnati Tax Abatement is CHANGING!  Learn More Here

On September 2nd, City Council passed a motion to change the policy to the current Tax Abatement also known as the Community Reinvestment Areas. The tax abatement allows residents and businesses to have a portion of their property taxes abated based on the improved value of their investment into a specific property. Essentially, if you renovate or build a home in the City of Cincinnati, you have the opportunity to pay less in taxes if you follow certain criteria.

Quick disclosure as we get started, this blog post is not meant to give you a step by step guide how to have your taxes abated nor is it the end of your fact finding on changes. I am a real estate agent that focuses on New Construction in Cincinnati, but not an attorney, consultant or expert on the tax abatement policies. I say this to make sure you understand that expert guidance may still be needed if you are making investments or decisions to which the tax abatement may impact..

Anyways, back to the information…the original goal of the tax abatement and the CRA (Community Reinvestment Areas) is to remain intact. If you read through the City’s tax abatement information, you’ll see that the original goal of the CRA was to: 1) stimulate community revitalization, 2) retain City residents, 3) attract homeowners, and 4) reduce development costs of home-ownership and rental projects. To find out more, click here to review the City’s website on the current tax abatement. 

Fast forward to today, City Council under Vice Mayor Smitherman has empowered “The Property Tax Working Group” at the end of 2018 was set up to investigate the effects of the CRA and see how they can improve upon it. These are the results of thousands of hours of review by that group and recommendations from a number of parties.

In regards to the suggested changes, which may soon become a reality, here’s what you need to know. 
    • Tax Abatement Terms and Caps are CHANGING – Each of the categories for new construction has gone down. There are also new incentives based on Historic Renovations, Visibility and renovations in general. Click Here to See A Chart of the Caps for Each Category
    • Four Families may be moving from the Commercial tax abatement requirements to residential, which is highly favorable for owners of multi-families.
    • Visibility – This is a term you might not know yet, but soon will. By increasing threshold widths, creating zero step entries, and adding “visitable paths”, you may be able to increase your abated value by $100,000. This can only be done at the planning stage, during design, and could save you around $2500/year. For more information on visibility, click here (https://docplayer.net/42823090-City-of-cincinnati-visitability-standards.html)
    • Tiered Approach Under Consideration –  On the final policy change, you may see something along the lines of a tiered neighborhood approach. We’ve heard that they plan to continue to engage in an extensive study to review this option.
    • Grandfathering – USGBC and the HBA are talking through the provisions for grandfathering properties to the old Tax Abatement Rules that are in some phase of development. This is still TBD and being discussed, but will most likely be a part of the new ordinance.
    • TALK TO YOUR CONSULTANT – It’s more important than ever to talk to your consultant, especially Green Building Consulting, who has been at the forefront of these changes.

 

We know this motion and policy is NOT set in stone, but it’s important to keep an eye on these changes. We’re lucky to call Paul Yankie of Green Building Consulting a friend, so we’re one call away from understanding where these changes stand. And if you’re considering building or renovation, we encourage you to give his firm or any of the other LEED building consultants in town a call.  

Disclosure: Since this information is changing on a daily basis, please consult the City of Cincinnati, a LEED Consultant and/or your builder before you act on any of this information. We can not guarantee any of this for accuracy as it’s based on our interpretation of the Property Tax Working Group and Home Builders Association information.

Want Even More In Depth Information?  Visit the City of Cincinnati Site here

CONTACT US TO LEARN MORE ABOUT BUILDING IN THE CITY OF CINCINNATI

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Cincinnati Tax Abatement – Explained!

by | Apr 8, 2020 | Build Cincinnati, Building Opportunities, Building Tips, Buyers, City / Downtown, Homearama, Hyde Park, News, Oakley

Cincinnati Tax Abatements… Explained!

** The Tax Abatement guidelines have changed since this was written in March of 2020* Please See Our Updated Video and article Here for the most up to date information.

 

If you’ve been living in the City of Cincinnati, chances are you’ve heard about the tax abatement for new construction and remodeled homes.  But, do you really know how it works??

Paul Yankie, President & CEO of Green Building Consulting sat down with us to give us a little crash course on the tax abatement & LEED Construction and why it’s been such a driving force in the Cincinnati residential real estate market.

Paul explains it best in our chat with him, but here are the main takeaways:

  1. The Cincinnati Community Reinvestment Area (CRA) Residential Tax Abatement, as it’s called, offers property owners the ability to minimize tax implications when you build, add-on or invest in your home.  This means that any improvements will NOT significantly add to the property tax bill.  You would only pay on the amount of “pre-improvement” value, up to $275,000.
  2. LEED Certification: This is the secret topping to the tax abatement. Basically, LEED Building = Green Building = Energy Efficiency.The City of Cincinnati is one of the BEST places to build a LEED certified home because it saves you even more money.  The higher the rating, the more money you save. LEED Silver allows for up to $400,000 abated, LEED Gold is up to $562,000 and LEED Platinum is UNLIMITED.  Of course, LEED comes with it’s extra building costs, but that’s specific to the home you build and how much money you can spend!
  3. Find a professional (a builder or Build Collective or Green Building Consulting) that understands the tax abatement and construction process.  They can help you determine what the best plan of action is for you.

Now that you’re armed with this information, doesn’t building and remodeling in the City sound that much better? Not only can you design a home specifically for you and your family, but you can save money in the process!

See How Much Money You Can Save on A New Home with Our Tax Abatement Calculator!

Tax Savings Calculator Here

Want Even More In Depth Information?  Visit the City of Cincinnati Site here

CONTACT US TO MEET WITH A TAX ABATEMENT EXPERT!

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HOMEARAMA® Comes to the City in 2020

HOMEARAMA® Comes to the City in 2020

by | Sep 26, 2019 | Building Opportunities, City / Downtown, Homearama

Everything you need to know about Walworth Junction

Site of HOMEARAMA® 2020

The Highlights:

  • First LEED ND Certified Neighborhood – Greenest Neighborhood in the area!
  • 39 Luxury, Single Family Homes 
  • Site of HOMEARAMA® – July 2020 

For the first time in, well, ever, HOMEARAMA® 2020 is coming to the City of Cincinnati. We’re especially excited with this site as it’ll be one of the most impressive and ground breaking (literally) that we’ve ever had the pleasure of being a part of. Why? Well because this happens to be an old railroad maintenance site that has been completely remediated by the developer and EPA to be the future site of 39 contiguous, luxury single family homes. It’ll be a one of a kind community in the City of Cincinnati for so many reasons…

Here’s what you need to know:

The History:

As a former railroad maintenance station, this site is rich in railroad history, formally known Pendleton Yards. Not to be confused with Pendleton outside of OTR, this yard and station saw it’s fair share of traffic and cars up to the mid 20th century. Over the summer of 2019, the developer in conjunction with EPA and Terracon, have been removing dirt to turn a former “brownfield” into a gorgeous new community!

The Developer:

East End Develepment LLC is comprised of two veteran developers, TJ Ackermann and Ralph Meierjohan. The two partners have developed countless communities over the years, including recent Citirama sites, Woodlawn Meadows and Springrose Meadows. Having decades of experience in development and building, they’re gaining national attention for Walworth Junction because of it’s site remediation, design and it’s location!

The Location:

Located just down the street from the Precinct Restaurant on Delta, it’s ideally located on the edge of Columbia Tusculum in the East End and around the corner from Hyde Park and Mt. Lookout. All 39 homes are walkable to Eli’s BBQ, Hi Mark, Allyns and Pearls, not to mention countless other little shops and watering holes. This is the draw of Walworth Junction. And better yet, it’s a hop, skip and a jump from Downtown Cincinnati.

The Amenities:

One of our favorite features of Walworth Junction is it’s own park. As you enter into the community, the park stretches hundreds of feet along Walworth and ends with a tunnel connecting homeowners and neighbors to Riverside Drive. Additionally, each home will have views of the River and the City of Cincinnati. It’s raised topography allows for these views from the 2nd and 3rd floors along with the rooftop decks, should owners go that route. AND…each owner will utilize the private drive, alley way for a rear entry garage, which means the front elevations and the streetscape isn’t dominated by garages on the front of homes!

The Taxes:

With all of the homes being LEED Gold by Green Building Council, the tax rate is locked in for ALL 39 homes. This is part of the LEED ND (Neighborhood Development) certification, making Walworth Junction the first community in Cincinnati with that designation! In addition, there is an additional TIF Assessment on all of the lots for the EPA site mitigation, which is still being finalized. Details will be released in the coming months on this..

The Builders

With HOMEARAMA® set for July 2020, the preferred builders have been set and homes will start coming out of the ground in Dec of 2019. Currently, the featured builders for Walworth Junction are:

Frazier Homes
JNB Custom Homes
Redknot Custom Homes
Somerset Custom Homes
Sterling Homes

 

The Green: 

Walworth Junction will be “the greenest” Homearama show ever! And did we mention, the first in Cincinnati to be LEED ND (Neighborhood Development) certified. Without getting too technical, this means ALL of the new homes will be LEED certified, there are points for the smart location and linkages being so close to the City, and due to it’s overall design. It will be the first subdivision that has mandated LEED Gold for every home…so you’re in good company as a resident of Walworth Junction.

So what are you waiting for? Now is the time to take a drive over to the community and meet with the builders so you can get your hands on one of the best lots!

Visit the Website at WalworthJunction.com or call us at 513-260-0424 and we’d be happy to set up a site walk!

Introducing the Meadows at Peterloon

Introducing the Meadows at Peterloon

by | Sep 11, 2019 | Building Opportunities, Indian Hill

Introducing the Meadows at Peterloon

New Opportunity to Build in Indian Hill

Every once in a while a new development comes around and REALLY excites us. The Meadows at Peterloon is one of those! With a proposed 42 lots in The Village of Indian Hill, right off Montgomery Rd, on storied ground, this new community will be sure to make a statement and has already garnered much attention.

Here’s why:

Located on 142 acres of ground still owned by a few of the descendants of the Emery family, the tradition and history runs deep. The development team is working to preserve this heritage and pay homage to it’s history by designing a community that their family would be proud of.

As you may know, Indian Hill has very distinct zoning districts, typically in 1, 3 and 5 acre zones. This acreage happens to fall into each of those. That means, there are lots as “small” as 1 acre and up to 5 acres. Over the 142 acres, there are sections of woods as well as open farm fields, many of which have sweeping views. In total, there are 42 lots in the entire community, 27 of which will be developed in the 1st phase off two cul-de-sac streets.

Situated on the northern portion of Indian Hill, this property has a few very unique selling features. Walkability it the one we’re most excited about. There aren’t too many areas in Indian Hill that you’re connected to sidewalks. Nestled up against the City of Montgomery, the entrance of Meadows of Peterloon is right across the street from the Montgomery City Building. This allows access for residents to capitalize on all of the sidewalks in the community as well as dozens of restaurants and watering holes! Pretty rare for an Indian Hill Community!

One less glamorous feature is the access to sewer and water! Indian Hill is often synonymous with on-site sewer systems because of it’s rural nature. But, there are NO on-site systems needed in Meadows of Peterloon! That saves buyers anywhere from $50-$75,000+ depending on the size of the home.

These are just a few of the reasons buyers are clamoring to get into Meadows of Peterloon. Many lots are already under hold as they begin to start the development. Although much is still subject to change, the layouts and designs are being finalized by the developer and Village of Indian Hill. The developer and their team tell us that they plan to have lots ready for building towards the end of the Summer 2020. That means you could be in by that time 2021…trust us, that’s not too far away.

If you’re considering building in Indian Hill, you owe it to yourself to consider this new community. And we’re happy to share information! Classic Living Homes and Sterling Homes are already working on plans for homes in the community and would be happy to sit down with you to discuss the options!!

Don’t wait as lots are being locked up as you read this!

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