U.S. Playing Card Redevelopment/PLK Communities
The United States Playing Card Company had been printing and cutting decks of Aviator, Hoyle, and Bicycle brand cards in Norwood, Ohio, for more than a century. But when their operations relocated, the 30-acre site was ready for redevelopment. The $100 million project envisioned by PLK Communities includes a balance of apartment living, retail spaces, public parks and parking — even a brewery and food innovation hall — all built around the restored, historic clock tower.
But converting the former playing card factory and adding necessary infrastructure to support the expansive endeavor required a public private partnership. That’s why we partnered with the Port of Greater Cincinnati Development Authority to help make it happen. CFFA issued $4 million in tax increment financing (TIF) backed bonds, in addition to the Cincinnati Port’s $6 million in TIF bonds — with $7.6 million committed to initial site improvements like roadways, sidewalks, parking spaces, streetlights, storm water and sewer systems.
The $11 million partnership between the CFFA and the Cincinnati Port and private investment will revitalize the once idle manufacturing site by creating:
- 271 market-rate apartments
- 8,500 SF of retail and amenity space
- Two public parking garages
- Central green space shared by the entire community
“Partnering with fellow port authorities on ambitious projects like this reduces exposure by a single authority,” said CFFA President Jean Carter Ryan. “We love to see collaborations like this around the state.” Columbus-based DiPerna Advisors and Squire Patton Boggs provided consulting assistance on this project.