530 Walnut Street Development
At a glance
- What: Mixed-use development on 530 Walnut Street in Downtown/OTR East, including 67 residential rental units and 3,150 sq ft of commercial space.
- Developer: Urban Sites Capital Advisors, LLC (530 Walnut LLC).
- Funding: $2.9 million from Downtown/OTR East TIF District (Fund 483).
- Status: Referred to Budget, Finance & Governance Committee (October 7); Passed Emergency as Ordinance 202602833 (October 14).
- Scope: Existing building renovation in Central Business District into mixed-use development with approximately 63,117 sq ft residential space total.
Project Details
Funding Agreement with Urban Sites for renovation of property at 530 Walnut Street. TIF District funding of $2.9 million authorized from Downtown/OTR East Equivalent Fund 483 to Office of Strategic Growth for:
- Renovation activities for residential component (approximately 63,117 sq ft)
- 67 residential rental units
- 3,150 sq ft commercial space
Declared public purpose as "Housing Renovation" under Ohio Revised Code Section 5709.40(A)(3). Located in District 4-Downtown/OTR East District Incentive District.
Sources
- City Council minutes, October 14, 2026: https://cincinnatioh.legistar1.com/cincinnatioh/meetings/2026/10/10845_M_Cincinnati_City_Council_26-10-14_Meeting_Minutes.pdf
- City Council minutes, October 7, 2026: https://cincinnatioh.legistar1.com/cincinnatioh/meetings/2026/10/10843_M_Cincinnati_City_Council_26-10-07_Meeting_Minutes.pdf
Log
2026-10-14 - Cincinnati City Council
Emergency ordinance 202602833 passed. Authorizes City Manager to execute Funding Agreement with 530 Walnut LLC (affiliate of Urban Sites Capital Advisors) for mixed-use development renovation. $2.9 million from Downtown/OTR East TIF District (Fund 483).
2026-10-07 - Cincinnati City Council
Ordinance 202602833 referred to Budget, Finance & Governance Committee for further review.
- 2026-10-25 - Page created from October 7 and October 14 minutes.
- 2026-10-12: Committee approved a funding agreement for the 67-unit mixed-use development, transferring $2.9 million. See 2026-10-12 - Budget, Finance & Governance Committee.