Developer wants to restore historic Hamilton mill with apartments, retail space

The Shuler & Benninghofen Woolen Mills building at corner of Williams Avenue and Pleasant Avenue is one of several buildings of interest as students at Miami University try to develop a Pleasant Avenue Revitalization Strategy for Lindenwald to revitalize the Hamilton neighborhood. NICK GRAHAM/STAFF
Caption
The Shuler & Benninghofen Woolen Mills building at corner of Williams Avenue and Pleasant Avenue is one of several buildings of interest as students at Miami University try to develop a Pleasant Avenue Revitalization Strategy for Lindenwald to revitalize the Hamilton neighborhood. NICK GRAHAM/STAFF

Developer Bloomfield/Schon wants to restore the historic Shuler & Benninghofen Woolen Mill in Hamilton’s Lindenwald neighborhoods, to outfit it with apartments and retail space.

Under details City Manager Joshua Smith provided Hamilton City Council on Wednesday, the project would include a $20 million investment from the developer in the 127-year-old facility. The project would include 100 “1+ bedroom apartments,” at least 10,000 square feet of commercial space and 50 indoor parking spaces.

The developer wants the city to buy the property for $650,000 and hold it while Bloomfield/Schon seeks national and state historic tax credits and a new type of incentive called Transformational Mixed Use Development Credits. If the developer lands those credits, the city would sell the property to the developer for $1. Smith in a report to council said the project would improve what now is a four-acre eyesore in a key Lindenwald area.

The city also would pay the developer a $695,000 grant once the property is transferred, under the proposed deal.

If the developer weren’t able to receive the historic tax credits, the city could pay $1.5 million to make up for that, possibly using federal American Rescue Plan Act funds, although, “they have never not received a historic tax-credit grant once they’ve applied for it,” Smith said.

Smith noted Lindenwald is the most populous of the city’s 17 neighborhoods and has Hamilton’s third-largest business district, after the downtown and Main Street business corridor.

“We believe it’s time to start putting some resources into Lindenwald,” Smith said.

Explore‘There’s definitely potential’: Lindenwald business district on the rise in Hamilton