Apartments on East Loveland Avenue and Third Street go by the Wayside
Church of God Saved for Now
Loveland, Ohio - In an E-mail to Loveland City Council and City Administrators, developer Rick Greiwe said on June 29, that he has lost the support of his financiers, North American Properties.
He said in the E-mail, “Since their decision, I have met with several qualified developers to find a new partner. Each one, after completing their due diligence, came to the same conclusion as NAP. They also stressed the need to secure additional parking if the project is going to be successful.”
Greiwe has also released the “options” he had on properties he planned to build apartments on at Third Street and East Loveland Avenue; the Church of God on Third Street, and two homes on East Loveland Avenue. This part of the planned Loveland Station project in Historic Downtown was to be the future site of 32 apartments, part of the larger project.
Greiwe still has plans to go forward with building 90 apartment units in the core downtown area that has been paved for parking. This is the area where the Loveland Farmer’s Market locates on Tuesdays.
He told Loveland Magazine today, “Additional parking has to be secured before the project can commence on the Loveland Station property so the apartment residents have adequate parking as well as the commercial tenants.” The City has been in negotiations with the CXS Railroad to acquire this additional parking.
Greiwe also said in the E-Mail, “I have had negotiations with Martin Schickel and his purchase price continues to increase with the delay of the project.” Schickel owns the only remaining building still standing in the project area. “Tom Carroll attempted to assist me to hold down the cost of this last critical parcel. Unfortunately, I am not in the position to enter into a contract on this property or the East Loveland properties until I have a partner and a signed development agreement with the City.”
Greiwe said that he has recently met with two additional companies to pursue the remainder of the project and hopes to secure a new partner soon. Greiwe said, “Greiwe Development remains committed to the site and to the city of Loveland.” He also expressed appreciation for the partnership of the City “...and your patience.”