19 minutes ago, jim uber said:

Applicants for historic tax credits have a built in motive to over estimate the rehab costs, and it certainly seems that's been done here -- these buildings don't even appear to be in very bad shape, as far as OTR vacant stock is concerned. By over estimating costs, the percentage of the credit goes down, and that wins points in the scoring. 

 

The thing is, in the end, nobody to my knowledge ever compares the certified rehabilitation expenses, against the proposed total project cost. It's sort of amazing.

For all projects with qualified rehab expenses above $200k, you have to get a CPA to sign and certify the expenses. It is not an easy process and - in my experience - there aren't many CPAs willing to do it. You'd have to get a CPA willing to commit fraud if you want to under-report. 

2 hours ago, jmecklenborg said:

Incidentally, there are no cheap houses left in Mt. Auburn.  I have a friend from work who bought a move-in ready house on Helen in 2016 for...$38,000. 

 

There are almost no housing left in Mt Auburn period considering what was demoed there...   Still bitter about those dutch looking brick houses right by Christ Hospital for isntance sacrificed for an overflow lot (when the same block at lesser housing that oddly was kept :/).

Edited December 12, 20186 yr by neilworms

5 minutes ago, neilworms said:

 

There are almost no housing left in Mt Auburn period considering what was demoed there...   Still bitter about those dutch looking brick houses right by Christ Hospital for isntance sacrificed for an overflow lot (when the same block at lesser housing that oddly was kept :/).

Crazy how much the hospital has wiped off the map since the late 80's up there.

54 minutes ago, jwulsin said:

For all projects with qualified rehab expenses above $200k, you have to get a CPA to sign and certify the expenses. It is not an easy process and - in my experience - there aren't many CPAs willing to do it. You'd have to get a CPA willing to commit fraud if you want to under-report. 

I know - I've personally submitted and won historic tax credits at Federal and State levels, and completed that whole process, including the CPA audit (and that was expensive!)

 

What I meant was, after you have the CPA audit, nobody at the State level ever goes back and says "Hey, they spent $1M here, how does that jive with what they said they would spend, in their historic tax credit application?" 

 

So, if that's the case, just say you'll spend whatever you think will pass the smell test, cause like I said, the larger that number the more competitive is your application.

^ Oh and by the way, my pre- and post-construction numbers matched! ?

 

*Edit: Didn't quote in the article. Referring to the $100 million dollar 4th and Walnut Center which will become Canopy by Hilton and Hilton Garden Inn.* This is a big development and surprised more people aren't talking about this so far. I've been waiting for this project to get funded and this along with the building at Walnut and 5th (Kimpton at $48.3 million) are going to be big time in that area of downtown which is also adding the 4th and Race development ($116 Million). 3 Big Developments on that corridor totaling $264.3 million is going to be great in an area which can be dead after 5 pm.

Edited December 13, 20186 yr by IAGuy39

I've sorta lost track of all the various boutique hotels that are being built downtown right now. I think it's great that we're getting so many small hotels scattered throughout the CBD rather than getting something like the massive JW Marriott/Courtyard/Fairfield Inn complex in Indianapolis.

Is that helping with getting the rates down though?

13 minutes ago, taestell said:

I've sorta lost track of all the various boutique hotels that are being built downtown right now. I think it's great that we're getting so many small hotels scattered throughout the CBD rather than getting something like the massive JW Marriott/Courtyard/Fairfield Inn complex in Indianapolis.

 

By my count:

 

2 hotels at 7th and Race (NW & SE corners)

Kimpton at 5th and Walnut

The dual brand Canopy at 4th and Walnut

A hotel at the Ingalls Building (4th and Vine)

The boutique hotel at 6th and Sycamore (they just got something approved by the city recently, I think it was a finance deal?)

Aaaand last but not least, the Autograph Collection at Lytle Park.

On the horizon is a potential new Convention Center Hotel by 3CDC and the Port at 4th and Plum.

 

Guys, I think we're more than good on hotels!

These new hotels are all in the 80-150 room range.  So not very many total new rooms.

 

The Millennium has 872 rooms.  The Hilton Netherland Plaza has 561.  The Hyatt has 400. 

 

Don’t forget the hotel at 3rd and Main. They’re keeping the historic facades and building the hotel off of Hammond street.

Looks like the Urban Artifact sanctuary is getting an update.

58 minutes ago, Dresden11 said:

Don’t forget the hotel at 3rd and Main. They’re keeping the historic facades and building the hotel off of Hammond street.

Shoot! Totally missed that one. Will add it to the list.

I love all these new hotels we're getting, especially that they're going into renovated old buildings.  We still desperately need a big new convention center hotel to replace the dump that is the Millennium.  

^Lots of little hotels make for a more dynamic and interesting downtown. Way better than just a few massive hotels. 

50 minutes ago, Cincy513 said:

I love all these new hotels we're getting, especially that they're going into renovated old buildings.  We still desperately need a big new convention center hotel to replace the dump that is the Millennium.  

 

3CDC and the Port Authority recently bought the parking lot south of the convention center. I would expect that to be the next major project that 3CDC announces, as I think we're still a few years away from the redevelopment of the OTR Kroger site beginning.

I think what I'm most excited about is just the extra activity and also the big 3 projects underway currently:

 

1. 4th and Race: Activity what has been a hole in the ground and before a lifeless huge parking ramp

 

2. 4th and Walnut: Beautiful old building in disrepair and mostly all vacant

 

3. 5th and Walnut: That's a pretty gritty, rundown corner that will get much needed new life and activation

 

Also as you can see at the Renaissance, there is always good activity and decent foot traffic at the bases of hotels. These three are in areas with desperate need so I'm really excited for these to come to life in the next few years.

Yeah I was thinking to myself a few days ago about how many new botique hotels are coming online in the future. 

 

I'm hoping that this will be a catalyst for more bars/restaurants/cafes/general retail in the CBD and would ultimately result into a CBD that is at least active as south of liberty otr is at night. 

So I have worked on a couple project downtown, including 4th and Walnut. The owners went after JW Marriott and we're blocked by two hotel owner/management companies who are based locally. This project will still be amazing with Canopy by Hilton. 

 

Autograph by Marriott at Lytle Park is getting closer to opening finally.

 

Looking forward to the Kimpton at the Traction Building.

 

Kinley Hotel at Jewelers exchange building will be interesting, since there is lack of stairwells and elevators be existing in the building.

 

Same goes for Ingalls Building. SREE is still deciding on if the Ingalls is feasible.

 

The real conversation is will CVB put there foot down on the Millennium, try to buy it, or invest in renovating it as a partnership, or just build a new hotel big enough to be a convention hotel, which is a major financial investment that lets be honest the city and county might not be able to pony up funds as easily

 

Edited December 14, 20186 yr by savadams13

13 hours ago, savadams13 said:

Same goes for Ingalls Building. SREE is still deciding on if the Ingalls is feasible.

 

They are definitely further along with the project than this... It is gonna happen.

3 minutes ago, Largue said:

 

They are definitely further along with the project than this... It is gonna happen.

 There is a good chance that SREE will just demo, clean out each floor, upgrade exterior and put it on the market. Trust me what they will need to make it a profitable feasible hotel project requires expensive upgrades.

The architects are pretty far along in the design process of making it into a hotel. Trust ME, it's gonna happen. They are willing to pay for the upgrades you speak of: new stair (to have 2 egress routes, there is currently only 1 stair), new elevator (to meet code requiring that one elevator be stretcher-sized), and all new windows and building systems to be more energy efficient. They're pretty much in too deep with design fees to back out now. 

I was just there two days ago taking photos of the historical details on the 2nd floor.  I haven't heard of any doubt about the project happening.

 

 

33 minutes ago, Largue said:

The architects are pretty far along in the design process of making it into a hotel. Trust ME, it's gonna happen. They are willing to pay for the upgrades you speak of: new stair (to have 2 egress routes, there is currently only 1 stair), new elevator (to meet code requiring that one elevator be stretcher-sized), and all new windows and building systems to be more energy efficient. They're pretty much in too deep with design fees to back out now. 

 

Hah... design fees as a percentage of construction max out at 20%... more like 15%. 

 

Remember to tip your architects.

So the hotel being proposed at Third and Main by Rolling Hills Hospitality will be Moxy by Marriott. Will be the first for the brand in the tri-state. Its a young hip urban brand, more price sensitive then other brands. 

20 minutes ago, savadams13 said:

So the hotel being proposed at Third and Main by Rolling Hills Hospitality will be Moxy by Marriott. Will be the first for the brand in the tri-state. Its a young hip urban brand, more price sensitive then other brands. 

 

I actually really like this brand. Where is it proposed to be located on 3rd and Main? The current parking garage on the NW corner?

Construction going strong on 6th st.

43 minutes ago, Largue said:

 

I actually really like this brand. Where is it proposed to be located on 3rd and Main? The current parking garage on the NW corner?

Other side, and utilizing the front half of the existing historic buildings located there. https://www.bizjournals.com/cincinnati/news/2018/08/06/exclusive-boutique-hotel-planned-for-historic-main.html

 

1 hour ago, Ucgrad2015 said:

Construction going strong on 6th st.

What's going in here?  And what part of 6th st? 

"Sixth Street Exchange will transform the Reakirt building into 60 apartments, filling nine of the building’s 10 floors. The first floor is being marketed for a restaurant/bar, with the lower level planned as amenity space for residents including a fitness center. It was formerly home to Benihana and then Kiji for a brief time. The top five floors of the neighboring Brunswick building will become office condos, with another restaurant/bar space planned at street level."

https://www.bizjournals.com/cincinnati/news/2017/06/28/20-million-mixed-use-redevelopment-coming-to.html

With all these hotels popping up in the CBD, it would be really cool to see a large major brand hotel take over somewhere along Central parkway. 

 

It would be great location for visitors who are there for FCC games/looking to explore otr 

19 hours ago, SleepyLeroy said:

Other side, and utilizing the front half of the existing historic buildings located there. https://www.bizjournals.com/cincinnati/news/2018/08/06/exclusive-boutique-hotel-planned-for-historic-main.html

 

Don't know how I missed this one, that has the potential to be a really cool project. Says nothing about a Moxy, however. How do you know this will be the brand? Last I heard, Moxy (Marriott) was only interested in OTR because of their brand fit better there, not in the CBD. Perhaps they realized a hotel in OTR is near impossible and abandoned that idea. 

25 minutes ago, Largue said:

 

Don't know how I missed this one, that has the potential to be a really cool project. Says nothing about a Moxy, however. How do you know this will be the brand? Last I heard, Moxy (Marriott) was only interested in OTR because of their brand fit better there, not in the CBD. Perhaps they realized a hotel in OTR is near impossible and abandoned that idea. 

One does not always reveal sources, its best to not question information, when it has yet to be released to the general public. However I do know that the brand flag has been acquired and its planned for this site.  

17 hours ago, troeros said:

With all these hotels popping up in the CBD, it would be really cool to see a large major brand hotel take over somewhere along Central parkway. 

 

It would be great location for visitors who are there for FCC games/looking to explore otr 

 

I've always thought the Alms & Doepke building could be an amazing hotel.

^Instead, it's an amazing place to pay tax on a car you bought off a relative out-of-state. 

Indeed it is Jake, indeed it is.

Alms & Doepke is Job and Family Services not the BMV, which is located in the CAB building.

On 12/3/2018 at 2:00 PM, mcmicken said:

I had my car in for service last Friday at the Monro at Central Parkway and Walnut, and according to the manager the last day they are in operation is the end of December. Apparently they are going to demolish the building for a garage as the property owner is looking to capitalize on the reinvestment in the area. Not sure if a garage makes sense or is 100% accurate but looks like something will be happening on that site.

 

A source tells me that the Monro will be demolished and replaced by a...surface parking lot. They claim that Kroger has an interest in acquiring that lot and turning it into a pickup location for their online ordering service (formerly called ClickList). If that's the case, that probably means that it'll stay a surface lot forever, and is evidence that Kroger still does not understand how to build urban grocery stores.

8 minutes ago, taestell said:

 

A source tells me that the Monro will be demolished and replaced by a...surface parking lot. They claim that Kroger has an interest in acquiring that lot and turning it into a pickup location for their online ordering service (formerly called ClickList). If that's the case, that probably means that it'll stay a surface lot forever, and is evidence that Kroger still does not understand how to build urban grocery stores.

 

That wouldn't seem to make sense to me. Isn't Kroger heavily investing in there automated driverless delivery system? 

 

I can't imagine that many urban dwellers would use clicklist tbh. Driving a few blocks to pick up your groceries seems rather... Well pointless... Groceries being delivered by auotmated drivers on the other hand makes way more sense. 

The ClickList at the downtown Kroger isn't meant for people who live downtown. It's meant for people who work downtown who want to pull out of their parking garage after work, drive straight to the downtown Kroger to pick up their groceries, and then drive home.

18 minutes ago, taestell said:

The ClickList at the downtown Kroger isn't meant for people who live downtown. It's meant for people who work downtown who want to pull out of their parking garage after work, drive straight to the downtown Kroger to pick up their groceries, and then drive home.

 

I get that. I still don't see the point. That surface lot wouldn't be able to serve that many spots regardless and would only create large issues if people have to circle around the CBD multiple times in order to get a spot. It seems like a potential mess for kroge customers...

 

If they built a mid size parking garage that would make much more sense...but a surface lot at that size does not. Doesn't make sense logistically.

 

 

Edited December 23, 20186 yr by troeros

Isn't it illegal to demolish a building downtown for a parking lot?  That's why The Dennison is now an astroturf park.  Or will Cranley just make that issue "go away"?  

8 hours ago, taestell said:

 

A source tells me that the Monro will be demolished and replaced by a...surface parking lot. They claim that Kroger has an interest in acquiring that lot and turning it into a pickup location for their online ordering service (formerly called ClickList). If that's the case, that probably means that it'll stay a surface lot forever, and is evidence that Kroger still does not understand how to build urban grocery stores.

 

This doesn’t make sense to me. Why would Kroger make thier employees cross the street with loads of people's groceries when they will have dedicated parking spaces in the attached garage? 

 

2 hours ago, jjakucyk said:

Isn't it illegal to demolish a building downtown for a parking lot?  That's why The Dennison is now an astroturf park.  Or will Cranley just make that issue "go away"?  

 

I remember hearing there is still one quandrant of downtown where new pay lots are permitted although I’ve never seen a map that shows it. And if it’s not technically a pay lot I don’t what the rules are.

Also if they built a 100 unit apartment building there it would increase sales more at the store across the street than having a dedicated lot for click-list which they could support from the attached garage anyway.

Having the click list pickup be across the street screens liability to me. Considering Kroger is getting free spots set aside for them in the parking garage above their space I don’t see why they’d need the lot across the street. I think this seems to be more wishful thinking by the land owners. 

11 hours ago, taestell said:

The ClickList at the downtown Kroger isn't meant for people who live downtown. It's meant for people who work downtown who want to pull out of their parking garage after work, drive straight to the downtown Kroger to pick up their groceries, and then drive home.

As someone who lives in the basin I will be using clicklist downtown, much like I currently do in newport.

Seems to me that it could be turned into a ground level platform for Clicklist parking while still having develop able land above to build an office or housing and still be done before the new Kroger is opened. Seems a waste to use such a desirable city location for one activity only. Sort of how that one person wanted to do a day care at the location of the old Izzy's building on Elm & 8th street. Drive in, load up and drive out, just with groceries instead of kiddies while a number of uses are going on overhead (and providing cash).

 

6 hours ago, jjakucyk said:

Isn't it illegal to demolish a building downtown for a parking lot?  That's why The Dennison is now an astroturf park.  Or will Cranley just make that issue "go away"?  

 

The Monro site it mostly parking lot already. Kroger wouldn't necessarily need to remove the building - it could be renovated and used to stage orders.

So what happens if someone crosses the street while delivering a clicklist order and gets hit and murdered by a car. Can you imagine the national outcry? 

 

Does Kroger go under at this point?

19 hours ago, troeros said:

So what happens if someone crosses the street while delivering a clicklist order and gets hit and murdered by a car. Can you imagine the national outcry? 

 

 

I doubt it would even be a news story in Dayton