Cincinnati Business Courier
Tom Demeropolis
Former Cincinnati Bengals safety Chinedum Ndukwe has a new real estate development and investment firm that is partnering to redevelop downtown Cincinnati's Tower Place Mall.
Ndukwe started Kingsley Wells Enterprises LLC last year, and this will be his first major project.
“I hope this is the first of many,” Ndukwe said.
The Notre Dame graduate is bringing a “handful” of current Bengals as well as other professional athletes and a couple retired players as equity investors in the project.
“Too often (as athletes) we are presented with financial opportunities that aren’t structured properly or run a high risk factor,” Ndukwe said. “I have witnessed first-hand very successful athletes losing money from poor choices, so I am committed to finding investments that are both profitable and secure.”
Ndukwe is working with Mabley Place LLC, an affiliate of JDL Warm Construction, to convert the building to Mabley Place, which will boast 775 parking spaces, accessible from both Fourth and Race streets, as well as about 8,400 square feet of commercial space.
The transformation of the building, now named after the Mabley & Carew department store, is a $9 million project. The renovation is expected to take between six and eight months.
JDL Warm, headed by CEO Jake Warm, will oversee and manage the renovation of the structure. Standard Parking signed a 10-year lease and will operate the garage portion of Mabley Place.
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