The hotel represents an investment of as much as $12 million, said Kal Patel, Crestpoint’s president and CEO. It will have approximately 100 rooms, a pool, fitness room, business center, meeting room and a dining area.
The retail portion of the development so far is set to include a Penn Station with a drive-thru , as well as a nail salon. Other tenants have signed letters of intent for the remaining spaces, which constitute about 8,000 square feet of space, said John Westheimer, president of CCC. One of them will be a cellphone store, he said.
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Joshua Rothstein, a retail specialist with Blue-Ash based OnSite Retail Group, is listing the retail space for CCC.
“Monroe has never been hotter,” Rothstein recently told this news outlet.
The retail development and the hotel sit on 18.5 acres of development-ready property, with the remaining 21.5 acres sandwiched between Senate Drive and Interstate 75.
At least one restaurant is looking to develop there, Westheimer said.
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“The public streets (West and Heimer drives) are scheduled to be done by the end of November,” he said. “That will help a lot.”
CCC has been working to develop the property since 2015, Westheimer said. He said he is “amazed” at the interest the site has had in recent months.
“Usually you build these roads and they sit for a while. This is really good activity,” he said.
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Monroe’s Ohio 63 exit is an already established entertainment destination, and an area where the city wants to attract more investment. In 2015, the city sought and won state approval to create a Community Entertainment District for the area, allowing for up to 15 new permits to be issued for sales of beer, wine and spirituous liquor.
Regional attractions in the area include Cincinnati Premium Outlets, Miami Valley Gaming and Traders World and Treasure Aisles Flea Market. An area south of Ohio 63, IDI Logistics’ Park North at Monroe, is attracting companies like Amazon, Hayneedle and Blue Buffalo to locate operations inside of fulfillment centers that are hundreds of thousands of feet in size.