After years on the drawing board, The Lockard is finally getting built in Over-the-Rhine. Western & Southern Financial Group lined up with city officials and developers Friday for a ceremonial groundbreaking at Liberty and Walnut streets, where new construction will tie into four historic storefronts on the southeast corner of the intersection. The plan calls for about 129 apartments above ground-floor commercial space, a mix the development team says will bring vacant storefronts back into a walkable commercial corridor and add new residents and jobs to the neighborhood.
Western & Southern Backs The Build
Urban Sites and Triversity Construction are leading the project team and were joined at the shovels by Mayor Aftab Pureval and Western & Southern CEO John Barrett. Developers pointed to Barrett’s presence as a public signal of Western & Southern’s new financing role in the deal, according to Local 12.
What The City Signed Off On
City meeting records spell out a Property Sale, Funding and Development Agreement that formalizes the deal and pegs the project at 129 residential rental units with roughly 3,500 square feet of commercial space. The same documents show the agreement consolidates parcels at 1422–1450 Walnut Street and 101 E. Liberty Street and authorizes the sale of small portions of public right-of-way to the developer. City of Cincinnati Legistar includes the signed agreements and funding terms.
Preserving Grammer's And Adding Mixed-Income Units
Developer materials shared with neighborhood groups state that the plan preserves and renovates the old Grammer’s building while adding new construction that connects the rest of the block. The community engagement packet describes a mixed-income lineup of studios, one-bedrooms and two-bedrooms, with a portion of the units set at affordable levels, plus an outdoor courtyard, bike storage and ground-floor space intended for a restaurant or retail. OTR Community Council lists the unit mix and site amenities.
How The Financing Fits Together
The city agreement also outlines public support for the build: two loans from the District 4-Downtown/OTR East Incentive district totaling about $3.7 million and a property tax abatement tied to the new improvements. The Port of Greater Cincinnati’s bond financing and the developer’s private partners are key pieces in closing the gap, and earlier reporting notes the Port is providing roughly $17 million in bond financing for the project. WVXU details the loan and bond steps.
Mayor's Take And Neighborhood Stakes
Mayor Aftab Pureval framed the groundbreaking as both symbolism and substance for Over-the-Rhine, calling the project a sign that momentum is still building. He said The Lockard "reinforces the exceptional momentum we have in Over-the-Rhine's revitalization," according to local reporting. Developers and city officials noted the block has been in the works for years and argued that The Lockard will help close a gap in the Walnut Street commercial corridor. Local 12 carried the quote from the Cincinnati Business Courier’s coverage of the event.
Timeline And What Comes Next
Developer materials project construction finishing up in early 2027, with public streetscape work and tenant leasing to follow. The packet estimates the build will create dozens of construction-period jobs and a smaller number of long-term property management positions. With financing partners now publicly in place, the development team says it will move into site work and detailed streetscape design over the coming months. OTR Community Council and the city’s meeting record include the projected timeline and budget items.
Preservation advocates raised concerns during the review process over the project’s height and the demolition of non-historic additions, but boards ultimately approved a revised design that narrows impacts on the historic facade. The Lockard is set up as an early test of whether a mix of new private capital and public incentives can finally complete the last missing block in Over-the-Rhine’s long redevelopment run. WVXU covered the earlier approvals and the conservation board’s deliberations.
