Commercial and Industrial Redevelopment Sites
Lockland has always been known for providing its businesses and industries with a decidedly better location (circa 1839). The Village keeps an inventory of available sites for business development, so please call Town Hall (513-761-1124) for additional information.
The community reinvestment area is also available for residential construction in select areas in the Village-West Wyoming Avenue (West of North/South Wayne Ave) and Herbert Avenue.
Stearns & Foster Site Master Plan
This is a brief summary of the report prepared by Bayer Becker and Red Tiger Investments to investigate the redevelopment potential of the 12 acre Stearns & Foster site as contracted by the Village of Lockland in 2017.
Goals of the Plan
- Create Jobs
- Generate Additional Income Tax Revenue
- Become A Catalyst for Additional Development
- Increase Property Tax Revenue
- Proximity of I-75 and GE Aviation, and light industrial zoning are big advantages.
- Advanced manufacturing is identified as the best and highest use.
- Lockland’s access to a regional labor force and centralized location make it attractive to manufacturing.
- Three development concepts are proposed to maximize use of the site.
- A major development achievement on the former Stearns & Foster site can spark interest in additional retail/service activity on the adjacent Mill Street area.
- Only major development hurtle is the time required to obtain a Covenant Not to Sue (CNS) on the West site.
Potential Economic Impacts Upon Full Build-out*
New Full Time Jobs 213 to 244
Indirect New Jobs 445 to 556
Annual Earnings Tax $353,000 to $375,000
Building Sqft 170,000 to 200,000
Annual Property Tax $190,000 to $223,000
Current Results from the Study (not contained in the report)
- Colliers Realty is representing all 12 acres at $89,000 /acre.
- Preliminary concept plans and market analysis from this study were used to judge several development proposals for the site.
- Heritage Environmental lease is expiring – the shingle pile has been removed.
- TetraTech Environmental has begun phase 1 environmental investigation as first step in obtaining CNS.
- Lockland is investigating establishment of two downtown redevelopment districts (DRDs).
- Additional grant opportunities will be sought to further the vision of the plan.
- Adopting this plan as the economic development strategy for the purposes of the DRD and the development agreement between BAD and Hamilton County.
- Historic National Register nominations for two buildings may be forthcoming.
*HCDC considers these figures to be “best case scenario.” A realistic expectation is that 50% of these figures should be achievable on the site within 10 years.