Hamilton considers incentives for downtown fine-dining restaurant, apartments

Hamilton is being asked to provide a tax abatement for Tandem Ventures, LLC, which proposes to renovate a vacant building in downtown for eight upper floor apartments and a fine dining restaurant at 20 and 26 S. Third St. The estimated project cost is $3.94 million. NICK GRAHAM/STAFF

Credit: Nick Graham

Credit: Nick Graham

Hamilton is being asked to provide a tax abatement for Tandem Ventures, LLC, which proposes to renovate a vacant building in downtown for eight upper floor apartments and a fine dining restaurant at 20 and 26 S. Third St. The estimated project cost is $3.94 million. NICK GRAHAM/STAFF
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Updated June 14, 2024
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More downtown living options are planned for Hamilton, as well as a new fine-dining restaurant.

Later this month, Hamilton City Council members will consider a resolution that would provide a local tier tax abatement through the Community Reinvestment Area for Tandem Ventures LLC, which is owned by Jess Allman of Oxford. The plan is to renovate a vacant building with two store-front addresses, 20 and 26 S. Third St., into eight downtown apartments and a fine-dining restaurant.

The project is estimated to cost $3.94 million and would employ six people for full-time positions and 14 for part-time jobs.

“It’s really going to be a very different restaurant,” said Hamilton Economic Development Director Jody Gunderson. “It’s a sit-down restaurant, certainly with a different feel to it, certainly a different price point.”

Allman told the Journal-News on Friday that Jackelope Spirits will be the tenant operator for the commercial space, and the company has plans for two high-end concepts that feature food and drinks.

Once construction is completed ― which is expected to begin in July and finish in less than a year ― Tandem Ventures must meet the minimum job requirements within three years. In exchange, it would receive a 50% abatement for a dozen years for the restaurant space. The city is also offering a 100% abatement for 12 years for the residential component of the project.

The tax abatement for this project is similar to other projects that include a residential component within the CRA boundaries, including the apartment buildings of Rossville Flats and the Marcum Apartments, Gunderson said.

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Michael D. Pitman has been a reporter in southwest Ohio since 1999. He's covered local governments in Warren and Butler counties, as well as state and national issues. He currently covers the cities of Fairfield and Hamilton.