Pdrome513

Reading between the lines from yesterday, Beemok bought the tournament because it is bullish on tennis as a long term investment option and sees the writing on the wall that its current asset in Charleston is about to be majorly devalued by the WTA so it decided to get into the game with a Masters event. My intuition is the Charlotte move was an assumption built into their purchase but that Mason came back with a better proposal than they expected. Hard to say what happens now but I doubt a move is a fait accompli at this point.

If the golf course is a bargaining chip in the negotiating process, the city took a hard line against its use on Monday. For good reason—the course was designed by Jack Nicklaus. If anything, the county seems to want to create an event complex (maybe a mini convention center) that the golf course and tennis campus could share. So, no mixed-use component, but emphasis on health and wellness in accord with Mason’s stated vision of itself. Take a look at the county proposal in the second presentation at the end of this story. The county wants to demolish the Grizzly lodge and the golf clubhouse. The pickleball facility would go at the clubhouse site and the lodge and the space around it would become a “corporate and innovation facility,” which reads a bit like “Lorem ipsum.” A quasi-convention space/event complex might be a smart move there for a county that’s among the state’s largest and fastest growing but (and I need to check on this) doesn’t appear to have any large, programmable event space currently. https://www.fox19.com/2023/06/05/everyones-attention-is-this-mason-unveils-plan-keep-ws-open-greater-cincinnati/

Seems at least possible Medpace will jump into the 1000 next year with 1.5B in revenue in 2022 and 24%YOY revenue growth (6.8B market cap). Any other growth companies poised to join Ohio’s 1000?

Super hard to see but the crane is up on this hotel project

Big Google announcement Wednesday. Seems like a data center in central Ohio but no real details.

Western and Southern Open primed for $150M expansion in Warren County https://www.fox19.com/2023/04/28/western-southern-open-primed-150m-expansion-warren-county/

Charlotte becoming an ATP 1000 event would be like the Dayton Dragons becoming an MLB team. The WS draws from a pool of 25 million people who are within a 5 hour drive. Attendance is very good, and it'll only rise as this next generation continues to evolve (Alcaraz, Sinner, etc). There’s history here as well. And the Ohio House just passed a bill giving the tournament $23 million for an expansion project (which I’ll have more on tomorrow.) This isn’t a real conversation.

The ATP also has no interest in moving the tournament. It’s a hard no.

Anyone else think it’s a little weird Western and Southern commissioned an impact analysis from the UC Economics Center? Has me feeling like they’re about to ask for something. https://economicsresearch.org/the-economic-fiscal-and-community-benefits-of-western-southern-financial-group/

They didn’t say that. They more strongly hinted at fears the bengals could leave than demand a new stadium. In fact the commissioners spent a good chunk of today lauding Paycor for being ahead of the times in its location amidst an urban mixed-use district. The days of the club lusting after something near Liberty Center appear to be over.

The base level to calculate the 25% drop also increases annually as the principal grows (but never as it shrinks)

It’s back from the dead: https://www.fox19.com/2023/03/28/eleventh-hour-change-ohio-bill-paves-way-2023-vote-cincinnati-southern-sale/

Story on Portman’s Salt Lake convention center hotel, also 26 stories. Could be some similarities. https://www.enr.com/articles/53560-new-salt-lake-city-convention-hotel-designed-to-allow-for-maximum-light Edit: Ugh, paywalled. Well here’s the info on Portman’s site https://www.portmanholdings.com/portfolio-posts/hyatt-regency-salt-lake/

Judge dismissed the Liberty/Elm OTR Adopt appeal because, as I mentioned previously, cases in Ohio become moot one construction begins.

conceivably it’s the developer’s way of clearing out the lawsuit, which under Ohio law is moot if work on the site has already begun. There was a funny moment last week when they made that argument and OTR adopt replied “what work??” Hard to argue that now.

Case dismissed? Per Suder, " the dismissal was initiated by the First District Court of Appeals, Hamilton County, because the Hamilton County Court of Common Pleas did not include final appealable order language in its ruling to uphold the magistrate's decision. This is a technical issue that will be resolved when the Common Pleas judge re-issues the decision with the correct language."

There was some good stuff from today's meeting I'll go back and add if I have time (lodging tax comeback, phased development plan) but here's the gist from today.. Developers submit proposals for Cincinnati’s new convention center hotel https://www.fox19.com/2022/11/02/developers-submit-proposals-cincinnatis-new-convention-center-hotel/

If you mean the new building, Leeper told Council a new restaurant was going in there by early next year from a proprietor who already has a Main Street restaurant. If you mean the former Takeaway, Leeper sounded optimistic about a tenant but didn't seem to have specifics.

The Banks apartments sold for $90 million https://www.fox19.com/2022/10/21/banks-largest-mixed-use-apartments-sold-columbus-developer/ The sale of a luxury apartment complex that anchors The Banks finalized Friday. Crawford Hoying purchased The Current at The Banks for $89.7 million. Radius at The Banks is part of the sale as well and will be closed as a separate transaction in the near future. Crawford Hoying’s portfolio features more than $2 billion in Ohio projects, including Water Street District in downtown Dayton and Bridge Park in Dublin. It is also the developer behind The District at Clifton Heights, a $640 million mixed-use project whose second phase is currently under construction.

I also wish the building were taller, nevertheless it does capture your attention as you catch sight of it now and then walking around OTR, appearing sort of like a castle rampart to deepen the impression being encircled and hemmed in.

3CDC unveils plans for $200 million redevelopment of Duke Energy Convention Center https://www.fox19.com/2022/10/17/plan-revealed-200-million-redevelopment-duke-energy-convention-center/ Edit: Added about the $100 million price increase and "The renderings shown Monday depict a [hotel] building around 28 stories tall, though it isn’t clear the hotel design falls under the architecture firms’ purview. "

OTR Adopt has appealed .. https://www.courtclerk.org/data/image_view_stream.php Edit: Yeah, apologies, Liberty and Elm/Freeport Row

ODOT has apparently rejected the Bridge Forward alternative. Full response will be posted sometime today https://brentspencebridgecorridor.com/news/

Common Pleas Judge Lisa Allen ruled Wednesday against OTR Adopt in the lawsuit over Freeport Row. I haven't been able to confirm the status of the development itself (does KEAN Ventures even still exist?) or whether OTR Adopt can/will appeal, but interesting nonetheless.

Mark is having a press conference about it tomorrow at the crack of dawn