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New 28-Story Tower Brings 350 Apartments to Downtown Cincinnati by 2028
The 28-story project on Vine Street will add 350 units to downtown Cincinnati starting in 2028.
How we reported this
A 28-story apartment tower with 350 units cleared its final zoning hurdle on July 7 when the Cincinnati Planning Commission approved the project at 801 Vine Street in the Central Business District.
The timing aligns with steady job growth in the metro area and limited new multifamily construction downtown since the pandemic slowdown. City records show only two other towers of similar scale have broken ground here in the past five years, both smaller than this one.
Neighborhood Effects Near Fountain Square and OTR
The site sits two blocks from Fountain Square and one block from the northern edge of the Banks riverfront development. Planners expect the building to draw residents who already use the 3CDC-managed streetscape improvements along Vine Street and the pedestrian bridge to Over-the-Rhine. Local traffic studies submitted with the application project an extra 180 vehicle trips per peak hour once the tower opens, prompting the developer to fund signal upgrades at Eighth and Vine.
Property managers in adjacent buildings along Race Street already report waiting lists of six months or longer for one-bedroom units. The new tower will include 80 income-restricted apartments tied to a city affordable-housing incentive program that caps rents at 60 percent of area median income.
Rental Data and Supply Outlook
CoStar data for the second quarter of 2026 put Cincinnati’s downtown multifamily vacancy rate at 4.9 percent, down from 6.3 percent a year earlier. Average asking rent for a one-bedroom unit reached $1,725, up 5.8 percent year over year. The new tower’s units are projected to lease between $1,650 and $2,400, according to filings with the city’s Department of Community and Economic Development.
Construction is scheduled to begin in September 2026 and finish by late 2028. Prospective tenants should watch the city’s housing portal for pre-leasing notices and compare listings on sites that cover the Central Business District and Over-the-Rhine submarkets before signing elsewhere.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.