Will itty bitty apartments be part of 309 Vine conversion?

Apr 2, 2015, 1:47pm EDT

Tom Demeropolis Senior Staff Reporter- Cincinnati Business Courier

 

The new owners of 309 Vine could bring some very, very small apartments to Cincinnati.

 

So-called micro apartments are typically less than 400 square feet. They’re growing in popularity in some of the largest markets in the U.S., such as Boston, Seattle and San Francisco. That makes sense, since apartment rental rates in those markets are so high.

 

http://www.bizjournals.com/cincinnati/blog/2015/04/will-itty-bitty-apartments-be-part-of-309-vine.html

I noticed if you link to the article and look at the other project they are working on in Minneapolis, it is a tower being built on top of an existing building. What if they use that experience to add onto 309, considering it was built with that in mind originally?

309 Vine developer pushes ahead despite missing out on tax credits

Jul 9, 2015, 1:03pm EDT 

Tom Demeropolis 

Cincinnati Business Courier

 

 

The owner of 309 Vine St. will move forward with plans to convert the historic building into a “signature mixed-use luxury apartment community” despite missing out on state historic tax credits.

 

Village Green, the Farmington Hills, Mich.-based developer, owner and manager of luxury apartment communities, purchased the building in October 2014 for $10 million with plans to redevelop the 300,000-square-foot, 1920s era, “Beaux Arts” building. Village Green announced in November that it would apply for state and federal historic tax credits for the project.

 

http://www.bizjournals.com/cincinnati/news/2015/07/09/309-vine-developer-pushes-ahead-despite-missing.html

The developer issued an ITB today:

 

Third and Vine City Apartments is a renovation for a mixed-use, commercial and multi-family residential development located in downtown Cincinnati. The project is a 10-story, existing steel and concrete structure with commercial office space completed in the late 1920’s. The basement and first floors will primarily house a valet parking garage and some utility spaces. The remaining floors will house 294 apartment units, retail/market space, as well as two floors of commercial office space. Floor 10 will house a 6,000 SF restaurant space, pool, and residential club with outdoor terraces and amenities.

Wow!  This is going to be nice and put some residents in a great new spot to liven Third Street.

So glad to hear that their plans include making use of the outdoor spaces. They'll have some really neat views.

 

Developer: 309 Vine project to have grocery store

 

http://www.cincinnati.com/story/money/2015/10/16/developer-309-vine-plans/74047350/

 

 

Couple thoughts...

 

1) What does this mean for The Banks grocery store that there trying to establish? Last I heard Carter development was trying really hard to situate a grocery store in the banks.

 

2) You guys imagine kroger is pretty pissed right now? Considering this going to be serving up alot of the wealthy yuppies who live at the banks/309 vine, and other nearby communities downtown.

My thinking is although I think it would be neat to have a grocery in the old Toby Keith's space right outside of Streetcar Stop #1, these 309 Vine guys seem to have real vision, so if they're the first to recognize an opportunity and seize it, good for them.

2) You guys imagine kroger is pretty pissed right now? Considering this going to be serving up alot of the wealthy yuppies who live at the banks/309 vine, and other nearby communities downtown.

 

Kroger does not care about an 11,000sf urban grocery.  Most of the downtown residents will continue to drive to the 100,000sf Newport store or the brand new 140,000sf Oakley store.  11,000sf??? LOL.

Yea, Kroger isn't going to lose any sleep over this. If anything they can keep an eye on it to see how it goes and use it as a test case.

Micro-apartments official now. It'll be interesting to see how those are recieved. I hope well as it will provide a way to increase density further in cbd. Still curious to see if after the building fills up they decide to add more floors since it's built to support more.

I am excited for this project to get underway..but it seems they are heavily dependent upon winning the $5M Ohio Historic Tax Credit in order to complete financing. Which is far from a sure thing. If they dont get awarded the credit this round they will have to wait another 6 months... rinse and repeat.

I am excited for this project to get underway..but it seems they are heavily dependent upon winning the $5M Ohio Historic Tax Credit in order to complete financing. Which is far from a sure thing. If they dont get awarded the credit this round they will have to wait another 6 months... rinse and repeat.

 

The developers have already stated that the project is a go regardless of the historic tax credit. They mentioned today they are to begin official renovation work this January.

Historic downtown building’s transformation will bring micro-apartments, rooftop restaurant

Oct 20, 2015, 11:46am EDT

Erin Caproni Digital Producer Cincinnati Business Courier

 

 

Details of the long-discussed conversion of a downtown Cincinnati office building into a mixed-use development are coming to light.

 

Michigan-based developer and property manager Village Green confirmed that it plans to bring 294 luxury apartments to 309 Vine St. That will include micro-apartments measuring about 400 square feet along with penthouses and other residential spaces. The miniature urban living options will be the first of their kind in the Greater Cincinnati market.

 

http://www.bizjournals.com/cincinnati/news/2015/10/20/historic-downtown-building-s-transformation-will.html

One can only hope that the Urban Core will soon be filled to the brim with similar developments like 309. Crossing my fingers this is a sign of further future things to come to the urban basin.

Mostly I'm excited to see a developer actually willing to take a chance and not just build the same product over and over. Microapartments will be great for urban dwellers who want to spend more time out exploring the city than hanging out at home. Let's add some condos to the mix next.

My condo is 493 sq. ft. and it is absolutely more than enough for me as a single person. I could easily cut out 93 square feet and have it function more or less identically. 400 square feet can easily work for someone if laid out intelligently. I'm glad to see we'll be getting a nice mixture of product in this building. 294 apartments in this spot is going to be a great help to The Banks and the southern portion of Downtown.

I just recently moved to Cincinnati, and I'm excited to get involved in this forum!  As a downtown resident without a car, I'm excited about a grocer moving into this spot.  As someone else mentioned, Village Green is a large developer and may have the ability to actually get a grocer to commit. 

 

While this may not be a Kroger Marketplace, a 11,200 sq ft is a decent sized urban grocer.  Wikipedia puts the average Trader Joe's around 8-12k sq ft.  Hopefully, Kroger feels the added competition and updates it's OTR location, or the very least updates it's mix of goods, to compete. 

The developers have already stated that the project is a go regardless of the historic tax credit. They mentioned today they are to begin official renovation work this January.

 

Where did you see this?

The developers have already stated that the project is a go regardless of the historic tax credit. They mentioned today they are to begin official renovation work this January.

 

Where did you see this?

 

Its in the article

 

Village Green has applied for state and federal historic tax credits for the renovation, but its application for $5 million from the Ohio Historic Preservation Tax Credit Program was rejected in July. Still, the company plans to move forward with its vision.

^But the next line notes that they have reapplied for tax credits...

^ Of course, they are going to reapply. If they continue to get feedback that says they were competitive and just need to try again, they'll probably keep applying. The money is too significant not to do that. But it has little to do with whether, or not, they could make the project work financially without the credits. I mean, everyone would like 10% profits, compared to 5%.

This looks like an exciting project and, like others have mentioned with the new Banks apartments and their price points, it will be interesting how this development plays out and how well it is received.  You can say the developer is taking on substantial risk but they know what they are doing, and in doing so, can set the bar for developers and investors who are more risk averse.

 

This will also most likely continue to drive rents up a bit in the CBD which will make more renovations feasible.

 

Also of note, this is around 600 units in a two block area.  That will add around 1,000 residents alone.  Good deal for the CBD.  Things like this will continue to also drive development in OTR, as it will create more everyday demand in OTR, which will drive Streetcar ridership.  Good Stuff!!!

Great news all around.  But this has to be the best news ever for O'Malley's in the Alley, right?

Great news all around.  But this has to be the best news ever for O'Malley's in the Alley, right?

 

Aside from daytime alcoholics

Financing for downtown micro-apartment project comes together

Dec 9, 2015, 12:48pm EST

Chris Wetterich

Staff reporter and columnist

Cincinnati Business Courier

 

Public financing for a $67 million project to bring downtown’s first set of micro-apartments to a historic Vine Street building is nearing completion, and the Michigan-based developer leading the project plans to start early next year to complete the project by the summer of 2017.

 

Developer Village Green plans to bring 294 luxury apartments, including ones as small as 400 square feet, along with penthouses and other residential spaces to the former Union Central Life Annex building.

 

http://www.bizjournals.com/cincinnati/news/2015/12/09/financing-for-downtown-micro-apartment-project.html

309 Vine was awarded their $5M tax credit, hopefully that is the last piece of financing that needs to fall in place and we can see construction start soon.

Pages 101-111 of the March 21 Historic Conservation Board packet show details on the exterior and signage for this project: http://www.cincinnati-oh.gov/buildings/historic-conservation/historic-conservation-board/march-22-2016-materials-only/

 

It looks like the first floor of the southern elevation (facing 3rd Street) will have the storefront windows restored. They'll be adding planters and trees to the sidewalk. Overall, this is going to be a huge improvement over the current setup.

 

Downtown Cincinnati's micro-apartments move forward with key approval

Apr 20, 2016, 7:02am EDT

Chris Wetterich

Staff reporter and columnist

Cincinnati Business Courier

 

A city panel has approved the construction of a small deck that will be attached to the old Union Central Life Building Annex as a part of its conversion to micro-apartments.

 

Cincinnati’s Historic Conservation Board approved the plan with a 3-2 vote Monday.

 

http://www.bizjournals.com/cincinnati/news/2016/04/20/downtown-cincinnatis-micro-apartments-move-forward.html

I am really exciting for this building to come back to full life.  I think it is really going to bring a ton of life to that area.  To put such a big building back to life that wasn't fully occupied is huge.  I assume a lot of the younger folks at GE will live there.  Only good things moving forward in the Urban Core of Cincinnati!

Agreed. Third Street needs all the help it can get. Maybe some day we will have a full Michigan Avenue style wall along Third.

Funny coincidence there is currently SWAT assembled in front of the Vine street entrance to 309. No report on why at this time.

suicidal person in a residence.

Get a look at downtown Cincinnati’s upcoming luxury apartments

 

 

The owner and developer of the former 309 Vine building broke ground Friday on its transformation of the 11-story building into a mixed-use property with luxury apartments, restaurants, office and retail.

 

City Club Apartments LLC will transform the 300,000-square-foot building into City Club Apartments – Cincinnati. It will include about 294 luxury apartments, 45,000 square feet of street-level retail, restaurant and office space, including an 11,000-square-foot market.

 

More below:

http://www.bizjournals.com/cincinnati/news/2016/07/15/get-a-look-at-downtown-cincinnati-s-upcoming.html

From today:

It's looking much better than the old facade! Based on the drawing submitted to the HCB, I thought that storefront was going to have a door that would open onto a removable "deck/platform". There was also going to be a similar feature to the south of the main entrance. I hope at least one of those decks will still be a part of the plan because it'll add some nice activity/texture to the streetscape.

 

http://www.bizjournals.com/cincinnati/news/2016/04/20/downtown-cincinnatis-micro-apartments-move-forward.html

http://www.cincinnati-oh.gov/buildings/historic-conservation/historic-conservation-board/march-21-2016-materials-only/ (see page 110).

New website for this project is up. Says pre-leasing started in May so i would think this is due to be finished by the fall. The renderings look pretty interesting, will be neat to see the finished product.

 

http://www.cityclubapartments.com/usa/cincinnati-oh/downtown/city-club-apartments-cbd/

Holy Pattern Clash Batman! Dynamic indeed! Decor aside i do like the space here, and views amenities and location cannot be beat if you like urban living.

^ That looks like an Anthropologie on steroids.

 

Also, you can never go wrong with describing an architectural aspect as "sexy." Sexy bathroom? I'm sold. I'm going to use that if/when I sell my house some day.

Wow

Although I personally loathe that method of decorating I'm glad it's at the very least completely different than everything else in Downtown. They chose a style and went for and I appreciate that. Too many beige boxes these days.

That style is now "in", all around the world.  Look at the renderings for Google's new building in London:

http://www.dailymail.co.uk/news/article-4562146/Google-unveils-plans-new-1billion-London-HQ.html

City Club Apartments to bring modern touch to historical space

 

In addition to apartments ranging in space from 400 square feet to 1,600 square feet in 50 different floor plans, the building will include 45,000 square feet of street-level retail and office space, a 6,000-square-foot rooftop restaurant, rooftop terraces with an indoor/outdoor pool, hot tub, fitness center and 330 parking spaces.

 

More below:

http://www.bizjournals.com/cincinnati/news/2017/06/06/city-club-apartments-to-bring-modern-touch-to.html

Downtown’s newest apartments to offer dozens of choices, ‘sexy bathrooms’

 

The nearly $70 million transformation of the former 309 Vine building from offices to 294 luxury apartments, 45,000 square feet of class A creative office space, street-level retail, and restaurants is nearing completion.

 

Jonathan Holtzman, CEO of City Club Apartments, said this project will be unlike any other in Greater Cincinnati. Farmington Hills, Mich.-based City Club Apartments is the developer of the project, which is now called City Club Apartments/CBD Cincinnati. He said Cincinnati is an international city with great companies, thriving arts and entertainment, and a waterfront many cities would be jealous of. But Holtzman said the city is missing rental units like the ones underway at City Club Apartments/CBD Cincinnati.

 

More below:

https://www.bizjournals.com/cincinnati/news/2017/07/31/downtown-s-newest-apartments-to-offer-dozens-of.html

Yay sexy bathrooms!!!!

I honestly judge places by their bathrooms. If the developer spent the time and effort to do the bathrooms nicely and didn't just slap them together with the cheapest options from Home Depot then the rest of the place is likely well done as well. And vice versa. You can make "cheap" (not synonymous with affordable in this situation) look fine in rooms like living rooms and bedrooms but you can't in bathrooms. Even if you use affordable materials but in a nice way it speaks volumes to the care.

 

With all that said I'd love to be able to see these "sexy bathrooms" to judge for myself.

I think this project is going to be huge for downtown.  I wish some  more stuff was moving along or moving along quickly like the corner buildings on 4th that have been tabbed for re-development for awhile now, but this will be great when finished and should liven up this area of downtown.

https://www.bizjournals.com/cincinnati/news/2018/04/27/get-a-look-inside-the-67-million-city-club.html

 

The finished product looks nicer than the renderings, but that pool area and interior design is still pretty bonkers.

 

294 apartments is nothing to scoff at and overall this is a huge project. I feel like sometimes it doesn't seem like as much construction is going on here as in some of our peer cities because there's only one tower crane in the CBD, but conversions like this really add up.

We have plenty of old buildings like this one that can be or have been converted to another use.  I think there are like 4-5 hotels and another handful of apartments planned in downtown right now and none of them are new builds. 

I can't see the pics since it's behind a paywall, but from what I've seen elsewhere, they've embraced the "maximalism" trend to its fullest. I personally don't enjoy it, but they've done it well so I appreciate that.

 

According to the annual report, there are nearly 1,600 apartments under construction right now in the core of Cincy. It appears that around 2/3-3/4 of those are in rehabbed buildings or conversions.

 

When you have so many amazing old commercial buildings that aren't suited for 2018 commercial needs, there's very little reason to build new when you can repurpose what's already there. As much as I think everyone loves seeing cranes on the skyline I think it's much healthier for a place like Cincy to repurpose every building it can to the point where only the best office space is left and there's nothing remaining to convert. That's when there will be a very sudden uptick in new construction. It's likely a ways off still, but it'll happen at some point.