Duke Energy Funds Redevelopment and Business Opportunities in Greater Cincinnati with $250,000 in Urban Revitalization Grants | duke energy
Since 2011, over 100 grants and $3.2 million have been awarded
Grants support development to combat urban blight and rehabilitate vacant buildings while creating jobs and vibrant communities
CINCINNATI — Today, the Duke Energy Foundation announced $250,000 in urban revitalization grants for eight projects in southwestern Ohio and northern Kentucky. This grant program stimulates economic development through the renovation and restoration of urban properties which, in turn, will bring jobs and growth to the region.
While Duke Energy has continued to provide grants during the COVID-19 pandemic, grant ceremonies have been halted as a safety precaution. As a result, the company this morning celebrated the delayed 10th anniversary of the Urban Revitalization Grant Program at the Incline Theater in Price Hill, a former grant recipient. Since the program’s launch in 2011, Duke Energy has awarded more than $3.2 million to more than 100 grantees in Greater Cincinnati. Grants generally provide funding for pre-development costs and serve as catalysts for further economic development in the urban core.
“Our urban corridors and main streets are essential to the vitality of our local communities, where our customers and employees live, work and play,” said Amy Spiller, president of Duke Energy Ohio and Kentucky. “Through our Urban Revitalization grants, we enable long-term solutions and support the overall vitality of our neighborhoods.”
“We are grateful for Duke Energy’s support for our latest project, the Hollywood Theater,” said Seth Walsh, CEO of College Hill Urban Redevelopment Corp. “This historic gem is in the heart of the College Hill business district. The grant will help fund the architecture and engineering for its critical renovation and will undoubtedly eliminate the blight, create jobs and aid in business retention.
2022 Urban Revitalization Grant Recipients
Catalytic Development Finance Group
Acme Building: The funds will be used to develop an 8,000 square foot building with significant frontage on Madison Avenue in Covington and to stimulate additional development at this strategic location.
Sims Building: This project will convert the currently vacant Sims Building in Covington into a modern office building suitable for growth-stage technology and e-commerce businesses.
Alloy Development/Small Business Assistance
Provide technical assistance to small businesses located in Mount Washington, Camp Washington, Kennedy Heights and Evanston.
College Hill Community Urban Redevelopment Corp./Hollywood Theater
This grant will provide architectural and engineering services for the historic Hollywood theater in the heart of the business district.
Evanston Community Council / Montgomery Road Redevelopment
The funds will be used to redevelop several vacant storefronts and obtain historic building designation.
Norwood Together/Ventura Commons Area Project
The funds will be used for pre-development expenses to continue development of the Ventura Commons Area project with two buildings along Norwood’s main commercial corridor.
Price Hill Will/Warsaw Avenue Creative Campus
The grant will be used to finance the architectural services of the Creative Campus, connecting the district of the slope with the historical district of Warsaw.
Robert O’Neal Multicultural Arts Center
The funds will be used for architectural drawings and additional pre-development expenditures to accomplish the next steps towards establishing access to the arts in the West End.
Watch this video for a closer look at the impact of Duke Energy Foundation Urban Revitalization Grants in Greater Cincinnati.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of the communities where Duke Energy customers live and work. The Foundation gives more than $30 million annually in charitable donations and is funded by Duke Energy shareholder dollars. For more information about the Foundation and its Powerful Communities program, visit duke-energy.com/foundation.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to 880,000 residential, commercial and industrial customers in a 3,000 square mile service area, and natural gas service to 550,000 customers in a 2,650 square mile service, in Ohio and Kentucky.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively possess 50,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.
Duke Energy is executing an aggressive clean energy transition to meet its goals of net methane emissions from its natural gas business and at least 50% carbon reduction from power generation by 2030 and net emissions carbon emissions by 2050. Zero goals also include Scope 2 emissions and some Scope 3 emissions. zero-emission power generation such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Top Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on TwitterLinkedIn, Instagram and Facebook.
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