Art Academy of Cincinnati, Cincinnati, OH

DEVELOPER:

Art Academy of Cincinnati (AAC)

BACKGROUND:

Two underutilized industrial buildings were redeveloped into new academic facilities for the Art Institute of Cincinnati, a 137-year-old educational institution. The AAC’s move to the rapidly growing arts district called the Gateway Quarter puts it in a prime location to be a force in the resurgence of a dynamic art community in a revitalizing Over-the-Rhine urban neighborhood.

TOTAL DEVELOPMENT COST:

$22 million

KEY FINANCING:

• Federal historic tax credits

IMPACT:

• Total Jobs Generated: 361
• The project transformed a six-story industrial loft building and adjacent historic warehouse building into a single 120,000-square-foot facility, containing art studios, classrooms, offices, galleries, and common space for students, faculty, and staff.
• The facility brought new jobs and economic activity to the historic Over-the-Rhine neighborhood--an area with a reputation for crime and neglect.
• The project sought LEED Silver certification.
• The AAC welcomed its largest freshman class in its history in 2011.