The Offices @ Vernon Place
Urban Development, Office, Structured Parking
- 146,000 SF office
- 4-story office
- 4-story parking garage
Cincinnati Children’s Turns To Al. Neyer Once Again For Major Office Building
Cincinnati developer and design-builder Al. Neyer was chosen to build the Offices @ Vernon Place, a
146,000 SF office building for Cincinnati Children’s Hospital Medical Center. The real estate development
represents an expansion of this established major minority investment partnership.
Al. Neyer worked with two investment groups, REEAAL and Jade IV LLC, to create a unique investment
opportunity for minorities who are traditionally not included in commercial real estate ventures. The
Offices @ Vernon Place project is 67 percent minority managed/owned. Participating minority investors
have previously invested in real estate projects with Al. Neyer involving the Vernon Manor Hotel office
conversion and the redevelopment of 237 Taft Offices.
The City of Cincinnati approved $7.5 million to fund the public infrastructure associated with the project’s
development. PNC Bank provided additional financing support. The entire Offices @ Vernon Place
development represents a total investment of more than $41 million.
The four-story Offices @ Vernon Place will be home to nearly 700 CCHMC workers. Crews are expected to
complete the office building and four-tier parking garage sometime in the third quarter of 2017.
At Cincinnati Children’s, we are focused on improving child health and transforming how we care for our patients. Our long partnership with Al. Neyer allows us to create world-class spaces that help us to do what we do best – focus on our patients. Cincinnati Children’s and Al. Neyer are also committed to championing diversity and efforts that create a thriving workforce. We are delighted that the Offices at Vernon Place serves as strong example of economic inclusion at every level and something that all projects can aspire to represent in the future.
Marianne James, Cincinnati Children’s