Cincinnati’s historic Terrace Plaza Hotel was sold after a long legal battle

Cincinnati’s iconic Terrace Plaza Hotel officially has a new owner after a four-year legal battle between the city and its former caretaker. Anthony Birkla of Birkla Investment Group bought the 74-year-old property at 15 W. Sixth St. last week through its affiliate, Cincinnati Development III LLC, for $10 million. The Indianapolis-based developer has been trying to acquire the 600,000-square-foot modernist structure since 2018.

“The acquisition of this property has been a long and bumpy road for Birkla Investment Group,” said Doug Moormann, vice president of Development Strategies Group, which represents Birkla on the hotel. “They are thrilled to have gained control of the building and are eager to work to stabilize the property and provide a safe environment for the public, but also to begin renovations.”

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