May 8, 201510 yr Even if their first application is denied tax credits, it will be cheaper in the long run to try a few more times to obtain them. It is essentially free money and still necessary to encourage developers to take risks on these old buildings. Also, I believe Eagle dumped this because they are too big to waste time on something like this. I believe Ashley is not only doing the renovation work but part of the ownership group of the building as well, similar to their involvement with 4th & Race.
May 8, 201510 yr A disadvantage of single-familys is getting hit by RITA from multiple municipalities. What I've been told by property owners is that you have to pay each town RITA on all your income, not just the income from the property that you own in that muni.
May 8, 201510 yr A disadvantage of single-familys is getting hit by RITA from multiple municipalities. What I've been told by property owners is that you have to pay each town RITA on all your income, not just the income from the property that you own in that muni. If true that is ridiculous. There is an established formula by which earned income is shared by an Ohio citizen's residence and workplace, assuming both municipalities charge an earnings tax.
May 19, 201510 yr Another company moving to Cincinnati from the suburbs (West Chester). http://www.bizjournals.com/cincinnati/news/2015/05/19/exclusive-p-g-rival-moving-office-to-downtown.html EXCLUSIVE: P&G rival moving office to downtown Cincinnati "RB plc, formerly known as Reckitt Benckiser Group, is moving its local office to the former Chiquita Center this summer." '
May 20, 201510 yr Long-planned $30M Lytle Tunnel rehabilitation set to begin Randy Simes - Cincinnati Business Courier Ohio Department of Transportation officials have announced that work will begin next week on the $30 million rehabilitation of Lytle Tunnel. Construction crews will begin work on Tuesday, May 26 to add ITS cameras, a fire detection system, upgrade tunnel lighting, repair existing concrete and tiling, upgrade mechanical and ventilation systems, install a new power supply and replace existing underground vaults beneath the Fourth Street sidewalk. In addition, ODOT crews will move the tunnel’s ventilation system and add new access hatches to several locations to avoid interfering with future plans for Lytle Park. Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
May 29, 201510 yr $27M renovation to transform historic Cincinnati YMCA Oct 15, 2014, 6:56am EDT Erin Caproni Digital Producer- Cincinnati Business Courier The historic Central Parkway YMCA will undergo a $27 million renovation that will turn it into a state-of-the-art fitness center and add affordable housing for seniors on the top floors. YMCA COO Myrita Craig announced the plans in a letter to members. She said the YMCA board of trustees approved a $4.5 million investment in the project. The rest of the cost will be covered by tax credits. A $2 million to $3 million capital campaign will also take place to ensure the long-term health of the building. YMCA unveils $27M downtown renovation plans: SLIDESHOW Erin Caproni - Cincinnati Business Courier The YMCA of Greater Cincinnati closed its historic Central Parkway location in December to undergo a $27 million expansion, and president Sandy Walker unveiled the plans for the building on Wednesday. To take a look at the plans, click on the image at right. The YMCA will spend $15 million on renovating the historic building and $12 million to create 60 to 65 senior housing units at 1105 Elm St. that will be developed by the Model Group and managed by the Episcopal Retirement Homes. The YMCA’s new offices will also be consolidated on the third floor of that building. Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
June 17, 20159 yr ODOT's work in Lytle Park: "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
June 18, 20159 yr Take a look at the $6M upgrade planned for Lytle Park Tom Demeropolis - Cincinnati Business Courier The Cincinnati Parks Department plans to make major upgrades to Lytle Park. Steve Schuckman, superintendent with the parks’ division of planning and design, gave an update on plans for the downtown park Tuesday night at the Guilford Building. The original master plan for Lytle Park was completed in November 2008, but with the Ohio Department of Transportation installing new vents in the park for Interstate 71 and plans for a hotel and restaurant at the former Anna Louise Inn, the parks department wanted to update its plan. “This is a concept plan,” Schuckman told the crowd on Tuesday night. “There is a lot of work to do.” Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
June 24, 20159 yr Does anyone know if these two projects have started? The articles indicate that they were supposed to be started in February / March and one was awarded Historic Tax Credits. http://www.bizjournals.com/cincinnati/news/2015/01/08/11-2m-redevelopment-of-historic-school-may-breath.html http://www.bizjournals.com/cincinnati/news/2015/02/04/developer-plans-12-million-remodel-of-former-sands.html Both of these projects would be a big positive for the area it seems.
June 24, 20159 yr I was in the area about a month ago and there was no sign of construction. No idea what the actual plans are for timeline, if any.
June 24, 20159 yr Does anyone know if these two projects have started? The articles indicate that they were supposed to be started in February / March and one was awarded Historic Tax Credits. http://www.bizjournals.com/cincinnati/news/2015/01/08/11-2m-redevelopment-of-historic-school-may-breath.html http://www.bizjournals.com/cincinnati/news/2015/02/04/developer-plans-12-million-remodel-of-former-sands.html Both of these projects would be a big positive for the area it seems. I don't think any work has begun on the Heberle School, but the Sands project is under construction. Here are a few photos from today. They are planting lots of trees and doing extensive landscaping in the old parking lot at the corner of Livington & Baymiller.
June 29, 20159 yr New housing project coming to Northside Jun 29, 2015, 2:57pm EDT Updated Jun 29, 2015, 4:29pm EDT Chris Wetterich Cincinnati Business Courier Episcopal Retirement Homes plans to build a $10.4 million, 56-unit apartment building in Northside for low-income seniors, according to documents filed with the city of Cincinnati. The Cincinnati City Council’s Budget and Finance Committee unanimously approved a property tax exemption on Monday for the 0.75-acre project that should get the full council’s OK when it meets on Wednesday. Construction on the project is expected to begin July 15 and finished in July 2016. http://www.bizjournals.com/cincinnati/news/2015/06/29/new-housing-project-coming-to-northside.html
June 30, 20159 yr I know there was some discussion of what is happening with the buildings on the East side of Main Street between 3rd and 4th (308-316 Main) that 3CDC owns. They applied, but were not awarded historic tax credits. Cincinnati Tax Credit Awards Projects Awarded •512 E. 12th St., Pendleton •Abington Flats, 33 Green St., Over-the-Rhine •Baldwin Piano Co., 655 Eden Park Drive, Walnut Hills •Market Square A, 1808-10 Race St., Over-the-Rhine •Market Square B, 1812 Race St. and 101 W. Elder St., Over-the-Rhine •Merchants Building, 34 W. Sixth St., Downtown •Warner Bros. Picture Building, 1600 Central Parkway, Over-the-Rhine Projects Not Awarded •Union Central Life Annex, Downtown, applied for $5,000,000. •Peters Cartridge Factory, Hamilton Township, applied for $3,650,000. •308-316 Main St., Downtown, applied for $1,782,000. •Broadway Square II, Pendleton, applied for $1,468,210. •West 7th and Race Apartments, Downtown, applied for $1,450,000. •Reid-Longworth Building, Downtown, applied for $950,789. •Ophthalmic Hospital, Over-the-Rhine, applied for $732,950. •Trevarren Flats II, Walnut Hills, applied for $702,691. •Snider Ford Building, Middletown, applied for $630,000. •Alameda Apartments, Avondale, applied for $249,999. •Market Square at Findlay Market C, Over-the-Rhine, applied for $249,999. •Mulberry Hill buildings, Over-the-Rhine, applied for $249,999. •1737 Elm St., Over-the-Rhine, applied for $223,187. •Central Trust Co.-East Hills Branch, East Walnut Hills, applied for $196,007. •1500 Race St. storefront, Over-the-Rhine, applied for $188,763. •Rutemueller Building, Pendleton, applied for $188,000. •1527 Elm St., Over-the-Rhine, applied for $131,739.
June 30, 20159 yr 33 Green Street looks like an amazing building. Can't wait to see what happens with that.
June 30, 20159 yr For those projects that didn't receive credits, do they downsize the scope (ala Mercer?), scrap the project, move forward anyway, reapply for credits, or some combination thereof?
June 30, 20159 yr ^ Depends on the developer and the project. I know the 7th street project downtown fell apart when they did not get tax credits. But I've seen 3CDC projects go on hold as well after being snubbed. “All truly great thoughts are conceived while walking.” -Friedrich Nietzsche
June 30, 20159 yr Those Main Street buildings are very important pieces of a long gone past. I hope they can be saved.
July 7, 20159 yr I am trying to do a roundup of all of the major residential projects happening in the CBD, OTR, and Pendleton... Recently Completed Seven at Broadway - 110 apts. Broadway Square Phase 1 {5/12/15} - 39 apts. Schwartz Building - 20 apts. Under Construction (742 units) Radius at The Banks {6/12/15} - 291 apts. AT580 {7/7/15} - 179 apts. Alumni Lofts (old SCPA) {6/5/15} - 142 apts. Eighth & Sycamore {6/22/15} - 130 units Future (884+ units) 309 Vine (Village Green) {11/26/14} - 294 apts. (still in early design phase) Fourth & Race {6/9/14} - 200 units Traction Company/Tri-State Building {7/10/15} - 104 apts. Findlay Market Farm site (Liberty and Elm) {1/16/15} - 69-130 apts. 630 Main (old Hartford Insurance Company building) {5/23/15} - 64 apts. Merchants Bldg (34 W. Sixth St.) {6/30/15} - 62 apts. 15th & Race (3CDC) {5/29/15} - 61 units (mix of townhomes/condos/apts.) Broadway Square Phase 2 - 39 apts. Market Square (Model Group) {1/28/15} - 35 units Garfield Suites apartment conversion {9/21/15} - appx. 190 apts. Unknown (329 units) Fountain Place (above Macy's) {8/13/13} - 225 apts. Grammer's Place {5/13/15} - 100 apts. and 4 townhomes Western & Southern residential tower near Lytle Park - ?? Cancelled Peak Property Group development on 7th {10/14/14} - 75 apartments were planned; cancelled because financing developer "couldn’t make the numbers work" even after winning historic preservation tax credits Ingalls Buildings {4/29/15} - last plan was for 40-50 condos but it's back on the market Rumored/Fantasy Saks replacement {11/14/13} - ?? Carew Tower conversion to apts. or condos - ?? If there are any other big ones I've missed, please reply and I'll add the to the appropriate category above.
July 7, 20159 yr Off the top of my head I can think of a couple (though I'm not sure what your cutoff is in terms of size.) There's the building at 630 Main which will be converted to residential and feature a 5 story addition which will hold 64 units. The Merchant Building at 34 W. Sixth will house 62 units. The Wade's developments in OTR will have around 100 units total between multiple phases. There's the development at Elm, Liberty, and Green which will have either 69 units or 112 depending on how heavily focused they decide to go towards residential. Those are the only big ones I can think of at the moment. I'm sure I'm forgetting something somewhere. All told there are over 2,000 units either under construction or planned for the near future between all these large projects and the countless small project happening throughout the basin.
July 7, 20159 yr I thought Saks decided to stay put. Also, last I checked the Wade development was permanently stalled because they're getting a divorce.
July 7, 20159 yr I have added those projects to the list. I put Grammer's Place in the "unknown" category because there hasn't been any news on it since the couple's divorce. The last article I saw said that the future of the project was uncertain with the ongoing divorce. Do you know what the Elm/Liberty/Green project is called or who the developer is? I will add links to the most recent news about each of those projects as I get time to do so.
July 7, 20159 yr eighth and Sycamore could probably be put 'under construction' they were issued permits last week to begin work, and there is equipment on site to start driving the initial foundation poles into the ground.
July 7, 20159 yr I don't think the Elm/Liberty/Green project has a name yet but here is a lick to the info. http://www.bizjournals.com/cincinnati/news/2015/01/16/exclusive-owners-explore-major-development-at.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_cincinnati+%28Business+Courier+of+Cincinnati%29&utm_content=Google+Feedfetcher
July 7, 20159 yr I thought I remembered hearing about the Grammar's Place that the wife was now in control of the development and she said they were working on it and were very excited for it. I wouldn't count it out at all.
July 7, 20159 yr Thanks for the input...keep it coming. I have slightly broken up the categories a little bit more to reflect what stage each of these projects is currently in. While I do believe Grammer's Place will happen, I'm waiting to hear some news on it before moving it up to the next category.
July 7, 20159 yr Model Group's Findlay Market development will have 23 apartments and 9 condos. Just remembered that they expanded the residential aspect of their project recently.
July 7, 20159 yr Don't forget 309 Vine Street either. I don't think they were specific on what exactly they were going to do there but, it could end up as a lot of apartments...
July 7, 20159 yr Oh yeah, they said they are aiming at around 250 apartments for that development. That's a pretty massive amount. http://www.bizjournals.com/cincinnati/news/2014/11/26/buyer-reveals-plan-for-309-vine-appetite-for-more.html?page=all
July 7, 20159 yr The cynic (realist?) in me has to wonder how many of these projects will actually come to fruition, and how long they will take to get there.
July 9, 20159 yr http://www.bizjournals.com/cincinnati/news/2015/07/09/retailer-celebrating-everything-ohio-coming-to.html because nothing says "local" and "made in ohio" quite like liberty township.
July 9, 20159 yr http://www.bizjournals.com/cincinnati/news/2015/07/09/retailer-celebrating-everything-ohio-coming-to.html because nothing says "local" and "made in ohio" quite like liberty township. Gah! Can't they at least say "Greater" Cincinnati!?! Calling Liberty Township "Cincinnati" is both factually inaccurate and offensive.
July 10, 20159 yr http://www.bizjournals.com/cincinnati/news/2015/07/09/retailer-celebrating-everything-ohio-coming-to.html because nothing says "local" and "made in ohio" quite like liberty township. Gah! Can't they at least say "Greater" Cincinnati!?! Calling Liberty Township "Cincinnati" is both factually inaccurate and offensive. That is one of my biggest annoyances with the Biz Courier. Most of their headlines that say "Cincinnati" involve something that isn't in Cincinnati. I have a friend from Rhode Island who just the other day was commenting on how strange it is that everywhere is "Cincinnati," at least in so a far as mailing addresses go. He was surprised that the townships could get away with that.
July 10, 20159 yr ^I thought that was a Post Office decision. Isn't it like that in other cities too?
July 10, 20159 yr Cincinnati has a surprising number of urban townships. That exasperates the problem. If you look at Cuyahoga County you would notice that there are only two townships (one is really small, the other is pushed up against the southwest border). In Hamilton County, probably 1/3 of the land area is in a township. Municipalities are all labeled as such by the post office. Townships don't get their own designation and use the nearest large community (Mason, Cincinnati, Hamilton, etc)
July 10, 20159 yr ^ But even in municipalities like Blue Ash, Indian Hill (excuse me, The Village of Indian Hill), Mariemont, etc. when you enter an address online and have it confirm the proper address it usually switches to Cincinnati.
July 10, 20159 yr ^ But even in municipalities like Blue Ash, Indian Hill (excuse me, The Village of Indian Hill), Mariemont, etc. when you enter an address online and have it confirm the proper address it usually switches to Cincinnati. I got in a day-long fight with a coworker at my old job in Blue Ash because she kept insisting Blue Ash was considered Cincinnati. I gave her a huge number of reasons why she was wrong ("Did you vote in the City of Cincinnati elections or the City of Blue Ash?", "Do you pay City of Cincinnati taxes?", etc). She was convinced she was right because some businesses in Blue Ash were listed with Cincinnati addresses on Google Maps (which is set by businesses on Google Maps, btw).
July 10, 20159 yr ^ But even in municipalities like Blue Ash, Indian Hill (excuse me, The Village of Indian Hill), Mariemont, etc. when you enter an address online and have it confirm the proper address it usually switches to Cincinnati. Areas that aren't even in Hamilton County also get the "Cincinnati" mailing address. All of the businesses near the Fields Ertel exit on I-71 use "Cincinnati." That's the farthest area away from Cincinnati that I can think of.
July 10, 20159 yr ^ But even in municipalities like Blue Ash, Indian Hill (excuse me, The Village of Indian Hill), Mariemont, etc. when you enter an address online and have it confirm the proper address it usually switches to Cincinnati. I got in a day-long fight with a coworker at my old job in Blue Ash because she kept insisting Blue Ash was considered Cincinnati. I gave her a huge number of reasons why she was wrong ("Did you vote in the City of Cincinnati elections or the City of Blue Ash?", "Do you pay City of Cincinnati taxes?", etc). She was convinced she was right because some businesses in Blue Ash were listed with Cincinnati addresses on Google Maps (which is set by businesses on Google Maps, btw). I am always shocked when I ask people where they live and they can't give me a straight answer as to whether they live in the city, in a township, etc. I think it comes down to most people simply not caring about local elections, so it's not something that's ever crossed their mind (especially for renters). Also, I have heard a large number of people who think that all of Hamilton County gets to vote for Mayor of Cincinnati... just to give you an idea of how apathetic most citizens are when it comes to this kind of stuff. Mailing addresses only indicate which post office handles the mail. My mother owned the Goshen Flower Shop in Goshen Township, but the mailing address was Loveland, Ohio, because that's who delivered the mail there. But our home mailing address (on the opposite side of the township) was Goshen, Ohio because that mail was delivered by the Goshen post office.
July 10, 20159 yr Most people seem to think that Cincinnati City Council has jurisdiction over Cincinnati Public Schools. When you tell them it's no different than the relationship between township trustees and suburban school districts they go..."oh".
July 10, 20159 yr Cincinnati has a surprising number of urban townships. That exasperates the problem. If you look at Cuyahoga County you would notice that there are only two townships (one is really small, the other is pushed up against the southwest border). In Hamilton County, probably 1/3 of the land area is in a township. Municipalities are all labeled as such by the post office. Townships don't get their own designation and use the nearest large community (Mason, Cincinnati, Hamilton, etc) If by dictate all local governments within greater Cincinnati were dissolved and put under a metro government with neighborhood councils, it would be an absolute tragedy and incomprehensible affront to democracy as we know it. And future generations would look back on the way things are now as barbaric and wonder how we got anything done.
July 10, 20159 yr I used to live in Indian Hill, and all my mail said Cincinnati OH 45243. If it's a post office thing, then that's probably one of the reasons the taxes were so low; we didn't have to pay for mail sorting and all that! :-P My parents, who still live there, get mad and confused when I tell them they don't live in Cincinnati. (For all the reasons enumerated above: taxes, elections, etc.) I remember my Dad signed the "save the streetcar" ballot in December 2013 and was disappointed when I told him that his signature wouldn't count because he didn't live in the city.
July 10, 20159 yr Tri-State Building buyer takes 1st step to convert to apartments Jul 10, 2015, 4:22pm EDT Tom Demeropolis Cincinnati Business Courier The expected buyer for downtown Cincinnati’s Tri-State Building has taken the first step to convert the office building into a mixed-use commercial and residential building. Traction Partners LLC, an affiliate of Franklin, Tenn.-based real estate owner and developer Parkes Cos. Inc., submitted the nomination of the building at 432 Walnut St., also known as the Traction Building, as a local historic landmark to the Historic Conservation Board. The nomination will go before the board on Monday, July 13. http://www.bizjournals.com/cincinnati/news/2015/07/10/tri-state-building-buyer-takes-1st-step-to-convert.html
July 17, 20159 yr More about the potential sale of Hamilton County buildings. I would like to see any services that serve a lot of clients stay downtown due to transit and accessibility concerns. Some of the other functions could definitely be moved to another location. These buildings could be sold under a plan to overhaul Hamilton County facilities Oct 13, 2014, 4:38pm EDT Chris Wetterich Staff reporter- Cincinnati Business Courier Hamilton County could save nearly $70 million over the next two decades if it sells some of its current buildings, renovates Mercy Health’s shuttered Mount Airy Hospital and moves some of the county government’s services there. http://www.bizjournals.com/cincinnati/news/2014/10/13/these-buildings-could-be-sold-under-a-plan-to.html?page=all No morgue in Mt. Airy - county giving up free land The plan to move Hamilton County's morgue to Mount Airy is dead. So are proposals to move the crime lab, board of elections and several other government offices. County commissioners killed the ideas Monday after months of increasingly pessimistic talk about the costs of turning Mount Airy's old Mercy Hospital site into a sprawling office complex. "We are at a point where I think we need to pull the plug," said Commissioner Todd Portune. Cont The hospital is coming down... Wrecking ball at last for Mt. Airy Hospital An era closed this week when Mercy Health rolled in the demolition teams to knock down Mount Airy Hospital, a facility the health care system couldn’t even give away. The hospital, on Kipling Avenue in the Mount Airy neighborhood, was closed in November 2013 after Mercy Health opened its glittering new West Hospital in Green Township. Mercy Health spokeswoman Maureen Richmond said Thursday the health care giant would hold onto the property for now Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
July 28, 20159 yr The parking lot at 830 Main St. just sold to MAIN STREET LAND LLC (incorporated in June 2015) for $1.1M. Would be nice for some infill on this lot but I'm not holding my breath.
July 28, 20159 yr Isn't that one of the lots Greiwe was rumored to be eying? What else has Main Street Land LLC purchased, if anything, in the past?
July 28, 20159 yr That is the only property that that particular LLC owns. Greiwe never mentioned any specifics in the story the Biz Courier did (http://www.bizjournals.com/cincinnati/news/2015/02/04/exclusive-streetcar-prompts-upscale-condo.html).
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