Grand Opening of New Downtown Office for Paycor, a Paychex Company, Commemorated with Ribbon Cutting Ceremony

CINCINNATI (February 11, 2026) – Leaders from the State of Ohio, City of Cincinnati, Cincinnati Center City Development Corp. (3CDC), Paychex, and other project partners and key stakeholders gathered yesterday afternoon for a ribbon cutting ceremony to celebrate the grand opening of Paycor’s new downtown office ─ a $36 million transformation of the former Saks Fifth Avenue department store.

The ceremony took place inside Paycor’s Queen City Room, a multi-purpose room backed by a new all-glass façade that overlooks the Fountain District. Paychex President and CEO John Gibson spoke with pride about the organization’s role in the revitalization of the building and continued growth downtown. Additionally, he made an exciting announcement during his remarks: Cincinnati will serve as a dual headquarters location for Paychex, joining its existing corporate headquarters in Rochester, N.Y. Gibson also noted that, effective February 10, the company’s second location – the Cincinnati North Office in Norwood – has been taken off the market, representing Paychex’s deepened investment in the Queen City. Gibson cited the strong talent in Cincinnati and the surrounding area as critical to their long-term success and a driving factor in this decision.

Following Gibson’s announcement, project partners and civic leaders — including Director of the Ohio Department of Development Lydia Mihalik, Mayor Aftab Pureval, and City Manager Sheryl Long — spoke about the project’s complex nature, the collaboration and strategic planning that made it a success, and the tenants that have reenergized this once vacant building. The event concluded with a ceremonial ribbon cutting.

3CDC purchased the former Saks Fifth Avenue from the City of Cincinnati in March 2024 and spent the next 21 months converting the previous department store into 40,000 square feet of class A office space – featuring Paycor, a Paychex Company, as the anchor tenant on the second floor of the building – along with 40,000 square feet of street-level commercial space. Two of the commercial spaces have already been filled, with Salazar – the eponymous restaurant from James Beard-nominated chef Jose Salazar – and Flight Club, a social darts experience, already operating. Approximately 12,000 square feet at the street level remain available. The revitalized building features a new roof and glass façade with terracotta accents, along with fully upgraded mechanical, electrical, plumbing, and fire protection systems. The final development plan was the result of significant predevelopment work to strategize around the building's several physical challenges, including the Hyatt Regency's ballroom location on the roof, the Hyatt Regency loading dock in the basement, and a boxy floorplate that is not suited to residential conversion.

A critical development for the urban core, the project enhances the Fountain District and helps connect Fountain Square to the newly renovated and renamed First Financial Center and Elm Street Plaza. It also seamlessly integrates with The Foundry — a 3CDC mixed-use development completed in Spring 2022 that is home to 150,000 square feet of Class A office space and some of the City’s most prominent dining and entertainment destinations, including Jeff Ruby’s Steakhouse, Five Iron Golf, Vintage on Race, The Davidson, Marigold, and Prim.

“This year is off to a strong start for our city, marked by last month’s unveiling of the reimagined First Financial Center and now the exciting grand opening of Paycor Headquarters,” Cincinnati Mayor Aftab Pureval said. “The building, once vacant and underutilized, has been brought back to life. The momentum these projects are creating in the Fountain District is palpable.”

The downtown second-story office space serves as a hub for Paychex and Paycor training, corporate events, and hosting employees from across the country. A second location for Paychex and Paycor in the area, the office features a grand staircase, more than 100 flexible workstations, and multi-purpose event spaces.

“This marks a major milestone for Paychex, Paycor, and the City of Cincinnati. Restoring and occupying a property with such a rich history is a privilege, and we are proud to be anchoring this new space that will bring more activity and economic energy to The Fountain District,” Gibson said. “We look forward to continuing to invest in the region and positively impacting the surrounding community.”

Salazar, a beloved Cincinnati restaurant formerly located in Over-the-Rhine, relocated to the Paycor Headquarters building and officially welcomed its first customers in November. Not long after, Flight Club, an entertainment venue combining high-tech darts, craft cocktails, and dining, celebrated its grand opening in December.

Construction on Paycor Headquarters began in April 2024, with 3CDC as the developer, Turner Construction as the construction manager, and GBBN as the project designer. 3CDC completed the project on behalf of the City of Cincinnati, which provided financing, along with Fifth Third Bank, the Ohio Department of Development, and JobsOhio.

About 3CDC
The Cincinnati Center City Development Corp. (3CDC) is a private, non-profit full-service real estate developer with a mission and strategic focus to strengthen the core assets of Downtown Cincinnati in partnership with the City of Cincinnati and the Cincinnati corporate community. Its work is specifically focused on revitalizing and connecting the Central Business District and Over-the-Rhine. For more information, visit http://www.3cdc.org.