A developer plans to build a 1,600 square foot Swensons Drive-In restaurant on Madison Road in Oakley, along with another building for retail tenants.
Oakley Crossings Holdings LLC is asking the City of Cincinnati for an eight-year tax abatement for property it owns at 3628-3646 Madison Road to facilitate redevelopment of the 2.7-acre site, according to documents submitted to the budget committee. and city finances.
The developer would demolish an existing building to build the new Swensons at a cost of approximately $5 million.
Akron-based Swensons recently announced plans to open in Clermont County and has expanded into other Ohio markets in recent years, including Cleveland and Columbus. The famous burger chain recently opened a store on Ohio Pike in Union Township.
Oakley Crossings also plans to construct another building on the site that would house three to five additional restaurants, a cafe and other retail tenants, bringing the total cost of the project to approximately $9 million.
The planned development would join a slew of new projects coming online at Oakley, including the redevelopment of the former Kenner Toys site, which is being converted into a massive mixed-use development.
The new Swensons project would create 255 full-time jobs with a total annual payroll of around $6.2 million, according to the developer.
The project is also expected to create 80 construction jobs with an estimated payroll of $2.5 million.