Historic PNC Tower To Be Converted To Apartments
Within the next two years, people could start living in what once was the fifth tallest building in the world and what is now the third tallest building in downtown Cincinnati. Wednesday The Port approved more funding for the project at Fourth and Vine.
The 31-story Central Trust Tower, also known as the Fourth and Vine Tower and the PNC Tower, will house 250 apartments, 30,000-square feet of office space and 50 parking spots. It is now mostly vacant office space.
Real estate developer Jonathan Holtzman told our news partner WCPO construction will begin later this month with move-in about 17 months later.
He already renovated City Club Apartments, the annex to the Central Trust Tower, planning to create a "city within a city." Pools, a movie theater and a day spa are just some of the amenities planned.
The Port has approved $115 million in taxable lease revenue bonds. "These types of adaptive reuse projects are extremely expensive and labor intensive which is really difficult," says The Port's Todd Castellini.
The developer is also getting funding from the city of Cincinnati and other sources.
"I think this is a very exciting project which needs to happen for these very old buildings which are going to be saved," Castellini says.