Editor
The Piccadilly apartments in Union Township, known for being crime-ridden, were purchased recently and are in the process of being completely renovated.
Piccadilly was one of the most difficult places for the township to manage, said trustee John McGraw.
“We’re very excited to get this turned around in such a dramatic fashion,” McGraw said, adding that the apartments, which were built in the late 1970s, have been a problem for a long time.
When McGraw was running for trustee, he was often asked what he was going to do about Piccadilly. He feels that it was only a matter of time until a member of the fire or police departments got hurt while responding to an incident there.
The apartments, which will be renamed, were difficult to purchase because the 31 buildings had 19 different owners, said Ryan Dean, vice president of Penklor, the company that, with DMG, purchased Piccadilly.
“It was a huge endeavor to get everything on board,” Dean said.
However, he would not purchase any of the buildings without purchasing all of them because he wanted to make a change. The $6.1 million sale closed in January.
“It was a long, hard process,” Dean said.
He expects to put about $5 million into renovations, which includes renovating the entire interior, putting in a new clubhouse, renovating the exterior, removing trees and accenting the river on the property. Dean wants the apartments to have a park-like setting.
“It’s a big undertaking but we have the capability,” Dean said.
The renovations will likely attract more people to the area, and will bring in productive citizens to live in the apartments, McGraw said.
Also, 75 shopping carts were found and returned to Kroger and Target, McGraw said.
The first phase of renovations, which includes most of the exterior work, the interior of many units, the clubhouse, the pool and more, will likely finish at the end of May. Phases two and three will include the rest of the interior units and should be done by late summer or early fall, Dean said.
Any resident currently living in the apartments can apply to move into a renovated apartment at the new rent rates, which starts at $750 a month. If a current resident’s application is approved, they could move into a renovated unit directly from their current unit.
There are many others who would have liked to get this deal, but it was very difficult to work with so many property owners. It is unusual to find property in as poor of shape as the apartments were in neighborhoods like the one Piccadilly is in, Dean said.
“In Cincinnati, especially on the east side, you don’t typically find properties in this condition in these neighborhoods,” Dean said.
He is happy to help clean up the apartment complex. Union Township has been great to work with, Dean said, and the apartments are in a good location that will likely continue to grow.
For more information, go to www.sundancemanagement.com.