CINCINNATI — The future of one of Cincinnati's most iconic buildings just got a boost with more than $6.4 million in Ohio development grants for cleanup and remediation of the interior of Carew Tower.
It's part of $88 million in brownfield grants statewide, Gov. Mike DeWine's office announced Friday.
The $6,439,500 awarded to The Port and Carew Tower owner Victrix Investments LLC will be used for remediation, including a full roof replacement, asbestos abatement, and interior demolition, according to a news release.
The announcement said the 1930s-era office tower would be converted to residential after remediation. Right now, it describes the building as "predominantly vacant and suffering from steady deterioration."
A corporate affiliate of Victrix bought the iconic tower earlier this year for $18 million, amid problems with past-due water and sewer bills. More than one year before the sale, Duke Energy threatened to shut the power off.
Todd Castellini, vice president of public finance for The Port, called its involvement in the grants "a conduit."
"It's expensive, very expensive," Castellini said. "So these type of grants make this type of work happen otherwise they continue to sit and sit and sit."
Carew Tower isn't the only significant building getting state money for remediation as part of this grant process.
The former Union Central/PNC Tower on Fourth Street was built in 1913, but has been empty since 2020. It will become a mixed-use development, a partner to the City Club Apartments next door on Walnut Street, featuring 218 apartments and roughly 25,000 square feet of commercial space.
That project received $1,917,945 for remediation, asbestos removal, some demolition, and environmental work on all 32 floors and in the basement.
"I can say that it's necessary and we're lucky to have it and it's just going to make our city a lot more vibrant and exciting," Castellini said.
Other Tri-State projects got some grant money, too.
The Port was awarded more than $42,000 to demolish and abate the former Reliable Castings iron foundry and $150,000 to demolish a former coal boiler and silo at what is now MadTree Brewing in Oakley.
Clermont County received grants totaling around $387,000 for the cleanup of three agricultural industrial sites. Brown County received grants of more than $400,000 each for cleanup and demolition of the old Aberdeen schoolhouse and former Sardinia Creamery.
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