January 27, 20223 yr The building across the street was converted to apartments and Madonna's and PNC never closed, they just covered the sidewalk frontage with scaffolding like every renovation in an urban environment. Again, I don't really blame the developer for trying to get the rent they think they can, I'm just disappointed that the city hand's out these incentives with no strings attached to helping out the little/local guy too.
January 27, 20223 yr 1 hour ago, ucgrady said: I think we need to have a Skyline near fountain square for all the offices/hotels And I know the perfect space! *cough* "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
January 27, 20223 yr 42 minutes ago, ucgrady said: The building across the street was converted to apartments and Madonna's and PNC never closed, they just covered the sidewalk frontage with scaffolding like every renovation in an urban environment. Again, I don't really blame the developer for trying to get the rent they think they can, I'm just disappointed that the city hand's out these incentives with no strings attached to helping out the little/local guy too. For sure, I'm not saying it's impossible, just that it's one more obstacle for the developer. And if they aren't forced to work around existing tenants (by a lease or the city) they likely won't. If the current City Administration moves forward with a total rethinking of how tax breaks are granted, like the Mayor and City Council have discussed, projects in hot areas won't automatically get tax breaks just because they invested money into a renovation or new construction. So the city can add provisions like keeping existing tenants, keeping rents below a certain threshold, etc. as a condition of getting a tax break. Or a developer could choose to forgo the tax breaks if they wanted to do something that wouldn't comply with those conditions. It would really be a win-win in that way.
January 27, 20223 yr 42 minutes ago, ColDayMan said: And I know the perfect space! *cough* lol. I think the old penera bread/arbys at 6th and vine would be perfect.
January 27, 20223 yr Has it been confirmed that Skyline was asked to move, or just the tenants adjoining Skyline...
January 28, 20223 yr On 1/27/2022 at 11:30 AM, ucgrady said: I missed a story on the local news yesterday about this project where they were interviewing the owners of Fred & Gari's and Total Juice. Here's a link to the WCPO article about Total Juice and Fred & Gari's closing. No mention of Skyline. https://www.wcpo.com/news/local-news/2-downtown-staples-prepare-to-close-amid-declining-foot-traffic-rising-rents
January 28, 20223 yr That too bad. I had been going to Total Juice Plus since I started working downtown in 2004. Tough to see them get pushed out this way. Admittedly I have been working from home since the Pandemic started. I'm kinda surprised they managed to stay open this whole time.
January 29, 20223 yr Gari is looking for another location. Want's it to be small, carry-out only. "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
January 29, 20223 yr Skyline probably can afford higher rent per SF than the other guys. If Skyline wants more SF, then I don't blame the landlord for facilitating.
February 1, 20223 yr 914 Elm Street is an old firehouse that was owned by Cincinnati Hills Christian Academy for a long time, up until 2019 (sales brochure). It is now under renovation. I'm not sure what the plans are for the building, but I'm glad to see it getting some love.
February 1, 20223 yr 22 minutes ago, jwulsin said: 914 Elm Street is an old firehouse that was owned by Cincinnati Hills Christian Academy for a long time, up until 2019 (sales brochure). It is now under renovation. I'm not sure what the plans are for the building, but I'm glad to see it getting some love. Single family home. City Studios were the architects last I heard.
February 9, 20223 yr Transformative $69M downtown project poised to grow in size, price tag A trio of developers are working together to bring transformational change to a sleepy portion of downtown Cincinnati’s West Fourth Street. Bernstein Cos., the Model Group and the Loring Group are working together to receive a tax credit from the state of Ohio’s new Transformational Mixed-Use Development (TMUD) Program to renovate three buildings on the south side of West Fourth Street. The trio are looking at renovating 205, 211-219 and 221-223 W. Fourth St. into a total of 339 apartments and about 14,000 square feet of commercial space. The total development investment for the three buildings would be nearly $89 million. More below: https://www.bizjournals.com/cincinnati/news/2022/02/08/west-fourth-street-redevelopment.html "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
February 9, 20223 yr The building on 4th and Vine (with Starbucks on the ground floor) was purchased by Enson Realty for $2.35MM. It appears that Enson is a food distribution company located in the Tri-County area... not sure if they are planning to have an office there or what.
February 9, 20223 yr The building on 4th and Vine (with Starbucks on the ground floor) was purchased by Enson Realty for $2.35MM. It appears that Enson is a food distribution company located in the Tri-County area... not sure if they are planning to have an office there or what. They also just opened a restaurant in the Bellevue KY in the old Joe Crab shack. Maybe a corporate office for them?Sent from my iPhone using Tapatalk
February 11, 20223 yr Legal battle over downtown building to move forward after new ruling By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier The legal battle over Convention Place Mall, a key downtown site at 435 Elm St. near the Duke Energy Convention Center, will continue after a Hamilton County magistrate issued a new ruling in the case this week. The Port of Greater Cincinnati Development Authority and developer Chinedum Ndukwe have been litigating over whether Ndukwe has an interest in Convention Place Mall. Hamilton County’s chief magistrate, Tom Beridon, had denied the Port’s bid to dismiss the case in September. The Port followed up by asking the court to issue findings of facts and conclusions of law allowing the case to be dismissed because Ndukwe had no right to foreclose on the office portion of the property and failed to prosecute any claims. MORE
February 11, 20223 yr On 2/1/2022 at 2:38 PM, Miami-Erie said: Single family home. City Studios were the architects last I heard. Really? Wow. I can’t wait to see the finished product and price.
February 16, 20223 yr NHC WEST COURT LLC purchased the building at 122 and 126 W Court Street. The LLC looks to be a holding company for Neyer Properties... There is a weird mish-mash of surface lots in that are and no real cohesiveness. Hopefully that area can get a shot in the arm.
February 16, 20223 yr 2 hours ago, wjh2 said: NHC WEST COURT LLC purchased the building at 122 and 126 W Court Street. The LLC looks to be a holding company for Neyer Properties... There is a weird mish-mash of surface lots in that are and no real cohesiveness. Hopefully that area can get a shot in the arm. I think you mean Neyer Holdings Corporation, based at 646 Main St. Not to be confused with Neyer Properties, based at 2135 Dana. And also not confused with Al. Neyer, based at 302 W Third St.
February 16, 20223 yr Somebody has been fixing up 122/126 Court street up over the last year and presumably shored up the remaining portion of the walls after it partially collapsed back 5 or so years ago. Hopefully that building can be fully renovated and can be included into a larger project, but I'm just glad the whole thing didn't get bulldozed years ago.
February 16, 20223 yr 1 hour ago, ucgrady said: Somebody has been fixing up 122/126 Court street up over the last year I am not 100% sure, but I believe the previous owner was an LLC affiliated with Fred Berger.
February 23, 20223 yr Six years later, developer buys back downtown hotel to finish long-stalled project By Tom Demeropolis – Senior staff reporter, Cincinnati Business Courier More than six years after starting the process of converting one of downtown Cincinnati’s hotels into upscale apartments, the developer behind the project plans to finish the job. Michael Collier, CEO of Hotel Capital LLC, which initially acquired what was then the Garfield Suites at 2 Garfield Place in 2013, said he has always believed the property could be one of the best mixed-use buildings in Cincinnati. “We have successfully completed hundreds of millions worth of commercial real estate projects across the country and just couldn’t accept failing on the Garfield,” Collier wrote me in an email. “We have never had so many obstacles to overcome on a real estate development but are determined to finish what was started and believe it’s very important for many other developers and investors, local and out of state, who are watching this closely and want to see it succeed under our ownership.” It's been a long road to get to this point. When Hotel Capital, along with partners Sun Development and Silver Rock, first acquired the property, the joint venture initially planned to switch the hotel to the DoubleTree Suites brand. In 2015, Hotel Capital bought out the other parties and decided to convert the hotel to upscale apartments. Work started on the conversion but stopped in late 2017. MORE
February 24, 20223 yr 122-128 Court is indeed sold to NHC. Parking lot owner, Kanu, to the East is the only big obstacle. Kanu caused the collapse of 122 in the first place and will not sell to provide parking for the lovely 4 story loft building at any price. They are immune to pressure for unknown reasons. Maybe Neyer will have better luck with him than Fred did.
March 11, 20223 yr Downtown office building, parking lot purchased for $2.5 million Behind the deal: The new owners plan to renovate the office building, which once housed the law practice of former President Rutherford B. Hayes, into 24 market rate apartments and will keep the parking lot as an investment property. More below: https://www.bizjournals.com/cincinnati/news/2022/03/10/downtown-office-parking-purchased.html "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
March 25, 20223 yr On 1/1/2021 at 2:34 PM, Cygnus said: Residents at 550 East 4th were given a years notice to vacate so that Western Southern could renovate the building. On 1/3/2021 at 10:42 AM, thesenator said: Yes, plans have begun for a full renovation of this building. Built with high end features throughout, most of which are fully intact, but largely obsolete and many barely functioning. Couldn't ask for a better location on Lytle Park next to the Residence Inn and across from the Taft Museum and new Lytle Hotel. Taft Museum will be undergoing a full exterior restoration later this year as well. On 1/3/2021 at 3:22 PM, thesenator said: It appears the parcels under this building are owned by the City of Cincinnati (mostly over the Lytle Tunnel). Probably a ground lease to the apartment owner (an affiliate of Western-Southern, I believe). Eagle Realty to completely renovate nearly 50-year-old Lytle Park apartments Eagle Realty Group, the real estate arm of Western & Southern Financial Group, has started to renovate the 550 Apartments on Fourth Street fronting Lytle Park. The property, which has been in operation for nearly 50 years, will see “major capital improvements to maintain its status as one of downtown’s finest apartment buildings. Located at 550 E. Fourth St., 550 Apartments is one of several downtown Cincinnati developments led by Eagle Realty Group and Western & Southern since the 1970s. The project started when Interstate 71 was being planned and constructed. The building is partially located on air rights over the interstate highway. Diane Planck, spokesperson for Eagle Realty Group, said the firm is finalizing design decisions and hasn’t received pricing on the project at this point. The exterior appearance of the building will stay substantially the same, with some additional windows and a spruced-up entrance. The building was recently vacated. Cont "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
March 29, 20223 yr Quote Is the new owner of Macy’s former HQ buying Carew Tower? Veles Partners LLC — a limited liability company based in New York City that filed a complaint in Hamilton County Court of Common Pleas against Carew Realty Inc. and Greg Power, the owner of the 49-story tower, for defaulting on a $9.7 million loan — has entered into a purchase and sale agreement with Carew Realty and Power to purchase the downtown building, according to a March 28 filing.
March 29, 20223 yr For some reason, I felt like Carew was worth well over $9.7M. Have they even started work on the former Macy's building? Or are the gobbling up properties for later use?
March 29, 20223 yr 4 minutes ago, RealAdamP said: For some reason, I felt like Carew was worth well over $9.7M. Have they even started work on the former Macy's building? Or are the gobbling up properties for later use? That's the amount of the loan they defaulted on, not the market value of the tower.
March 31, 20223 yr Interesting the sale of the former Macys HQ didn’t include the garage on the lower levels. https://www.bizjournals.com/cincinnati/news/2022/03/31/developer-purchases-macys-headquarters.html?cx_testId=40&cx_testVariant=cx_6&cx_artPos=2#cxrecs_s
March 31, 20223 yr I believe Macy's split off their garage into a separate "condo" and sold that off when they were still using the office tower. They also sold off the 222 W 7th garage that was essentially overflow parking for their downtown employees. Carew was similarly split up into multiple "condos" a few years back.
April 5, 20223 yr Artistry is nearly wrapped up. This building is really big and should really add a lot of residents to this corner of downtown. It’s not my favorite design but I hope it’s successful so Milhaus and more out of town developers keep investing in the city. Edited April 5, 20223 yr by ucgrady
April 5, 20223 yr 32 minutes ago, ucgrady said: Artistry is nearly wrapped up. This building is really big and should really add a lot of residents to this corner of downtown. It’s not my favorite design but I hope it’s successful so Milhaus and more out of town developers keep investing in the city. Annoys me how a prime piece of beautiful real estate and we get this ugly hardie board design. We as a city need to ask more from developers, when it comes to design for these projects. I know this was one of Cranley's pet projects, but good god this is so damn ugly. This is going to look terrible in under 5 years.
April 5, 20223 yr Under? Or now? "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
April 5, 20223 yr $50 million transformation planned for this corner of Fourth Street Two Cincinnati business leaders with a passion for the city are working together to redevelop a critical corner of downtown Cincinnati. Last year, I reported on Model Group’s plans to purchase the Mercantile Library Building, convert most of it to apartments and double the size of the building’s namesake tenant. Now, Model Group and building owner, Rick Rothfuss, have decided to partner on redeveloping not just that building, but the adjoining Mercantile Center at 120 E. Fourth St. Combined, the investment on this corner of Fourth and Walnut streets is expected to be more than $50 million. Bobby Maly, CEO of Model Group, said the Mercantile Library project is a little different than most of his company’s projects because it doesn’t typically partner on developments. He appreciates Rothfuss’ focus on doing the right thing for the buildings in the long run. More below: https://www.bizjournals.com/cincinnati/news/2022/04/05/mercantile-library-center-transform.html "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
April 5, 20223 yr Maybe I'm becoming a pushover as I get beaten down by developers but I don't mind the Artistry. I wish it didn't have random color changes and I wish it addressed the base and street level better. I haven't seen it from the Sawyer Point side but I hope it covers the parking somehow. Black and white metal panels are kind of boring and it will certainly look like a product of this era and probably even be outdated in a short time but it's also a material that doesn't fall apart; it's not EIFS, it's not HardieBoard and most importantly they added a lot of units and density to an area which is frankly kind of cut off from the rest of downtown. Edited April 5, 20223 yr by ucgrady
April 5, 20223 yr 2 hours ago, savadams13 said: Annoys me how a prime piece of beautiful real estate and we get this ugly hardie board design. We as a city need to ask more from developers, when it comes to design for these projects. I know this was one of Cranley's pet projects, but good god this is so damn ugly. This is going to look terrible in under 5 years. And this is still better than Radius at The Banks...
April 5, 20223 yr 23 minutes ago, küshner said: And this is still better than Radius at The Banks... You dont like the faux art deco vertical elements on the west side or the wave to the north that doesnt connect with the rest of the building lol
April 5, 20223 yr Most of the aesthetic complaints could be fixed in the future if they wanted to right? Is it mostly just siding that could be replaced with something of a different shape or style?
April 5, 20223 yr 4 hours ago, ucgrady said: I haven't seen it from the Sawyer Point side but I hope it covers the parking somehow. I took this the other day from the Purple People bridge, doesn't really cover the parking well at this point.
April 5, 20223 yr 40 minutes ago, shawk said: I took this the other day from the Purple People bridge, doesn't really cover the parking well at this point. I noticed that last year during construction as well but hadn't been by recently. They only own about half that clear zone, with the rest part of the parcel the city owns that the trail sits on. Accoding to CAGIS it appears to be 38 feet wide in total. Any chance that's wide enough for some carry-out retail? It just seems like such a great opportunity, especially when the trail matures with more residential and gets connected to Lunken. The new Google data is helpful for this too.
April 5, 20223 yr 3 minutes ago, Dev said: The new Google data is helpful for this too Oh wow... do you know when they pushed the latest imagery? Is there any easy way to monitor when these data pushes happen?
April 5, 20223 yr 20 minutes ago, Dev said: I noticed that last year during construction as well but hadn't been by recently. They only own about half that clear zone, with the rest part of the parcel the city owns that the trail sits on. Accoding to CAGIS it appears to be 38 feet wide in total. Any chance that's wide enough for some carry-out retail? It just seems like such a great opportunity, especially when the trail matures with more residential and gets connected to Lunken. The new Google data is helpful for this too. wow, that area around the new traffic cirle in Montgomery is really coming along!
April 5, 20223 yr 19 minutes ago, jwulsin said: Oh wow... do you know when they pushed the latest imagery? Is there any easy way to monitor when these data pushes happen? JYP posted about it in the Google Maps topic last week. I'm sure there's some blog or something the records the release of these images and maybe even the date of the imagery, but I'm unaware of it personally. As for this specific imagery, the best guess I have for this is September 8, 2021. https://twitter.com/Chaswied/status/1509662199177961474?t=ZIaJFvbQk4ta2y2FiTATkQ&s=19
April 6, 20223 yr 6 hours ago, Dev said: Most of the aesthetic complaints could be fixed in the future if they wanted to right? Is it mostly just siding that could be replaced with something of a different shape or style? It will never happen. The Hardie board will just keep getting painted over and over again until it degrades and falls apart from poor install. Watched this being built it's gonna happen...
April 6, 20223 yr 21 hours ago, ColDayMan said: $50 million transformation planned for this corner of Fourth Street Two Cincinnati business leaders with a passion for the city are working together to redevelop a critical corner of downtown Cincinnati. Last year, I reported on Model Group’s plans to purchase the Mercantile Library Building, convert most of it to apartments and double the size of the building’s namesake tenant. Now, Model Group and building owner, Rick Rothfuss, have decided to partner on redeveloping not just that building, but the adjoining Mercantile Center at 120 E. Fourth St. Combined, the investment on this corner of Fourth and Walnut streets is expected to be more than $50 million. Bobby Maly, CEO of Model Group, said the Mercantile Library project is a little different than most of his company’s projects because it doesn’t typically partner on developments. He appreciates Rothfuss’ focus on doing the right thing for the buildings in the long run. More below: https://www.bizjournals.com/cincinnati/news/2022/04/05/mercantile-library-center-transform.html Super excited about this! I think renovating both buildings at the same time will help ensure a more successful end result for that entire block.
April 11, 20223 yr Downtown Cincinnati apartment tower up for sale A downtown Cincinnati apartment tower is being marketed for sale. Garfield Tower Apartments, located at 111 Garfield Place, is being market for sale by Dave Lockard, Kurt Shoemaker, Marianne Taylor and Emily Cantley with CBRE. The property, which includes 160 residential units as well as 25,000 square feet of commercial space, is on the market without a price. The owners of the property, Lakeshore Garfield LLC, referred questions about the property to CBRE. The team with CBRE said it is not permitted to discuss the sale. More below: https://www.bizjournals.com/cincinnati/news/2022/04/11/downtown-cincinnati-apartment-tower-up-for-sale.html "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
April 27, 20223 yr The new outdoor area in front of the North building of the downtown library looks ready to open, while the main entrance of the South building is completely demolished but is still awaiting the new work. opening this up so it isn't behind a weird barrier wall will be good, and once the Garfield is finally redeveloped this section of Vine will be greatly improved from a pedestrian standpoint.
May 4, 20223 yr On 3/25/2022 at 2:04 PM, Cygnus said: Eagle Realty to completely renovate nearly 50-year-old Lytle Park apartments Eagle Realty Group, the real estate arm of Western & Southern Financial Group, has started to renovate the 550 Apartments on Fourth Street fronting Lytle Park. The property, which has been in operation for nearly 50 years, will see “major capital improvements to maintain its status as one of downtown’s finest apartment buildings. Located at 550 E. Fourth St., 550 Apartments is one of several downtown Cincinnati developments led by Eagle Realty Group and Western & Southern since the 1970s. The project started when Interstate 71 was being planned and constructed. The building is partially located on air rights over the interstate highway. Diane Planck, spokesperson for Eagle Realty Group, said the firm is finalizing design decisions and hasn’t received pricing on the project at this point. The exterior appearance of the building will stay substantially the same, with some additional windows and a spruced-up entrance. The building was recently vacated. Cont This project was presented to the Budget & Finance Committee on Monday for a CRA tax abatement, where it passed unanimously. Video here: https://archive.org/details/11220502 A few details: 29 apartments (6 1BR, 6 2BR, 15 3BR, 2 4BR) with rents ranging from $2,875 to $5,875. $18,000,000 in construction costs (~$620k/apartment). The DCED did a "cash on cash return" analysis, showing that the project is expected to get "only" a 4.2% cash-on-cash return (5% with the abatement) on investment. But frankly, the fact that Western & Southern is financing this entirely with their own cash (not taking any debt/loans/mortgages), makes that "cash return" analysis strange. Nearly all developers leverage their cash with some kind of loan, allowing for a cash-on-cash return that is higher than if they self-finance the entire project. Edited May 4, 20223 yr by jwulsin
May 4, 20223 yr 7 minutes ago, jwulsin said: This project was presented to the Budget & Finance Committee on Monday for a CRA tax abatement, where it passed unanimously. Video here: https://archive.org/details/11220502 A few details: 29 apartments (6 1BR, 6 2BR, 15 3BR, 2 4BR) with rents ranging from $2,875 to $5,875. $18,000,000 in construction costs (~$620k/apartment). The DCED did a "cash on cash return" analysis, showing that the project is expected to get "only" a 4.2% cash-on-cash return (5% with the abatement) on investment. But frankly, the fact that Western & Southern is financing this entirely with their own cash (not taking any debt/loans/mortgages), makes that "cash return" analysis strange. Nearly all developers leverage their cash with some kind of loan, allowing for a cash-on-cash return that is higher than if they self-finance the entire project. Maybe W&S just needs a place to park cash so they are putting into this project.
May 4, 20223 yr 7 minutes ago, Brutus_buckeye said: Maybe W&S just needs a place to park cash so they are putting into this project. Hahah... look for cash under the mattresses :)
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