Posted June 20, 20186 yr This is great news on a couple fronts. First projects i am working on can move up on the list to receive tax credits. Second, the traction building needs a lot of love with such an exposed site to the city. These tax credits will finally get the project going for the owner. ... Finally, developers land $4.2 million tax credit for downtown Cincinnati Kimpton Hotel The developers looking to bring the region’s first Kimpton Hotel to downtown Cincinnati finally received Ohio Historic Preservation Tax Credits to help with the project. More below: https://www.bizjournals.com/cincinnati/news/2018/06/20/finally-developers-land-4-2-million-tax-credit-for.html
June 20, 20186 yr This is great news and a perfect example of a project for the Ohio Historic Preservation Tax Credits. With only one interior stair, the building has been grandfathered in but would need a huge amount of money to bring up to current code requirements. The tax credits will help bridge the financial gap that these historic issues entail so this gem of a building, located in such a high profile location, can finally get the update it needs. Hopefully everything can move forward now that his has finally been awarded.
June 20, 20186 yr This is great for downtown as we need more hotels. The article mentions this hotel is one of 12 projects in Southwest Ohio that were awarded state historic tax credits in round 20. Do we have a list of the others who won and those who didn't? Hopefully the other potential hotels downtown that applied won their credits.
June 20, 20186 yr Author This is great for downtown as we need more hotels. The article mentions this hotel is one of 12 projects in Southwest Ohio that were awarded state historic tax credits in round 20. Do we have a list of the others who won and those who didn't? Hopefully the other potential hotels downtown that applied won their credits. The list wont be published until June 30th. But as projects are being notified of being granted tax credits its hitting the news.
June 21, 20186 yr Anybody know the history of the name of this building? Above the entrance on Walnut it says "Tri State Building"... but it's also sometimes called The Traction building. Where does The Traction name come from?
June 21, 20186 yr Anybody know the history of the name of this building? Above the entrance on Walnut it says "Tri State Building"... but it's also sometimes called The Traction building. Where does The Traction name come from? Was the HQ of the Cincinnati Traction Company. https://www.cincinnati.com/story/news/2016/09/03/how-streetcar-shaped-cincinnati/89578612/ “All truly great thoughts are conceived while walking.” -Friedrich Nietzsche
August 17, 20186 yr Author Additional construction fencing and dumpsters went up outside traction building today along fourth street. Looks like work is starting to progress on this project as well.
August 17, 20186 yr Additional construction fencing and dumpsters went up outside traction building today along fourth street. Looks like work is starting to progress on this project as well. They have a long way to go with demolition and discovering all the fun hidden treasures of a 100 year old building, but this project is definitely happening.
October 24, 20186 yr Kimpton hotels are so great, some of my fav hotel stays have been at Kimpton hotels. It'll offer an experience similar to 21c, so this will be a really nice addition to downtown.
March 21, 20196 yr Does anyone know how much progress is being made on The Kimpton Hotel at 5th and Walnut? I believe it’s called the Traction Building.
March 21, 20196 yr Author 40 minutes ago, 646empire said: Does anyone know how much progress is being made on The Kimpton Hotel at 5th and Walnut? I believe it’s called the Traction Building. There is a page for this project in the forum, however at this time seems like they are in permitting at the moment for this project.
August 2, 20195 yr This project is still progressing. Just like every other project, financing takes forever. Expect new construction work to start this fall. No idea when it will open, but I'd guess Fall 2020.
October 14, 20195 yr any updates on this project? it has been quiet for so long. of all the downtown boutique hotel conversions, this one excites me the most if they can make it happen. The location is prime and perfect for it. Plus I am sure they can market the old CAC space as event space for the hotel.
October 14, 20195 yr Author 4 minutes ago, Brutus_buckeye said: any updates on this project? it has been quiet for so long. of all the downtown boutique hotel conversions, this one excites me the most if they can make it happen. The location is prime and perfect for it. Plus I am sure they can market the old CAC space as event space for the hotel. Actually they started installing scaffolding around the building today, to protect pedestrians using sidewalk. Makes me think the exterior work should begin soon. I was excited to see them installing it at lunch time today.
October 14, 20195 yr That is good news. I like this location a ton and it will be a great addition to the center of the city.
October 14, 20195 yr Author 3 minutes ago, Brutus_buckeye said: That is good news. I like this location a ton and it will be a great addition to the center of the city. Yes, the exterior needs alot of restoration work. You can see this building clear as day coming into the city from 471. With the federal reserve, courthouse, and the fifth street placement, majority of the hotel rooms will all have a view.
October 14, 20195 yr 30 minutes ago, savadams13 said: Actually they started installing scaffolding around the building today, to protect pedestrians using sidewalk. Makes me think the exterior work should begin soon. I was excited to see them installing it at lunch time today. Thank the looorddd! Lol. Similar to what the other poster said, This is the one I wanted the most! The location sitting adjacent to Fountain Square is perfect plus Kimpton is a great brand
October 14, 20195 yr 42 minutes ago, Brutus_buckeye said: any updates on this project? it has been quiet for so long. of all the downtown boutique hotel conversions, this one excites me the most if they can make it happen. The location is prime and perfect for it. Plus I am sure they can market the old CAC space as event space for the hotel. the old CAC isn’t part of this project and it has already been renovated/opened as an event space, it’s called “the center” or something correct? edit: https://thecentercincinnati.com/ apparently it’s doing well too. Edited October 14, 20195 yr by 646empire
October 14, 20195 yr I didn't know what was going on with that space. I am quite nostalgic for it because I saw so many art shows there and had a bunch of things pop back in my head as I watched the wedding set-up video. It was a really great medium-sized art gallery. It was a much more pleasant and flattering space than the parking garage aesthetic of the new CAC.
December 3, 20195 yr Two hotel projects move forward Two hotel projects, one downtown and another in Corryville, could move forward after the Cincinnati City Council approves property tax breaks for them on Wednesday. Council’s budget committee has given initial approval to tax abatements for a hotel conversion project at 432 Walnut St. downtown, which currently is vacant. It is expected to become a Kimpton hotel with a $50 million project cost, Phil Denning, the city’s economic development director, told council members on Monday. Tennessee-based Parkes Development Group is rehabilitating the 15-story structure known as the Traction Building. The developer has obtained state and federal historic tax credits for the project, which will build 147 hotel rooms along with a restaurant, fitness room, ballroom space and rooftop bar. More below: https://www.bizjournals.com/cincinnati/news/2019/12/03/two-hotel-projects-move-forward.html
January 10, 20205 yr There doesn't seem to be any movement on this project compared to the other active hotel conversions downtown.
January 10, 20205 yr 22 hours ago, Cincy513 said: There doesn't seem to be any movement on this project compared to the other active hotel conversions downtown. "There doesn't seem to be any traction on this project compared to the other active hotel conversions downtown." Fixed it for you! Edited January 11, 20205 yr by surpriseitsminh
January 10, 20205 yr 5 minutes ago, surpriseitsminh said: "There doesn't seem to be any traction on this project compared to the other active hotel conversions downtown." Fixed it for you! Nice first post! Welcome to the forum!
December 17, 20204 yr This hotel has been pushed back to a 2022 opening. Unfortunately, but understandable at this point.
December 17, 20204 yr Did they even start any work pre covid? I'll be happy if this project still moves forward even if there's a delay. Can't imagine many new hotel projects will be started in 2021. The industry will need to see how the demand bounces back.
December 17, 20204 yr 12 minutes ago, Cincy513 said: Did they even start any work pre covid? I'll be happy if this project still moves forward even if there's a delay. Can't imagine many new hotel projects will be started in 2021. The industry will need to see how the demand bounces back. I don’t think they’ve done much outside of some pre construction work and clearing the building out. I assume they believe they can start construction next year because they’ve already been awarded a ton of tax credits from the city and state. You would think financing would be mostly in place at this point. Edited December 17, 20204 yr by 646empire
December 26, 20213 yr scaffolding has gone up around the building and looks like the walnut street sidewalk is blocked. Hopefully this means work is actually about to start.
December 8, 20222 yr Looks like we are finally gonna get the Kimpton Hotel along with apartments. 132 Million Dollar Project. I wonder what happens to the 5million dollar state credit Parkes was awarded twice for the hotel? - Model Group, Parkes Development land tax credit for Mercantile and Traction Block Redevelopment project: “The project includes 172 apartments, a 150-room Kimpton Hotel, 133,000 square feet of commercial space and the expansion of the Mercantile Library, one of the oldest membership libraries in the country. Two developers applying for a major tax credit such as this one is unusual, Maly said. “I can’t think of any (others),” Maly said. “The buildings are connected physically inside. It’s a natural symbiotic relationship between the hotel and that center. They’re going to have amenities in their building. Having that hotel effectively is a significant amenity for our residential and commercial tenants.” https://www.bizjournals.com/cincinnati/news/2022/12/08/model-group-parkes-development-tax-credit.html Edited December 8, 20222 yr by 646empire
December 8, 20222 yr 8 minutes ago, 646empire said: I wonder what happens to the 5million dollar state credit Parkes was awarded twice for the hotel? The article says the hotel project already received historic tax credits: "The hotel project already has state historic tax credits" So it seems like they are layering these tax credits on top of each other.
December 8, 20222 yr Model Group, Parkes Development land tax credit for Mercantile and Traction Block Redevelopment project Hundreds of new residents, workers and hotel guests will be coming to a revitalized downtown Cincinnati block just southeast of Fountain Square because of a major tax credit landed by developers. The Model Group and Parkes Development Group won a $11.7 million tax credit from Ohio's Transformational Mixed-Use Development Program for their $132 million Mercantile and Traction Block Redevelopment project, which includes three nearly vacant buildings that will be transformed into residential housing and a high-end boutique hotel. “It’s a big day for the center of our downtown. It’s a really big deal. Cincinnati didn’t win an award last time. This is a needle mover,” Model Group CEO Bobby Maly said. The project includes 172 apartments, a 150-room Kimpton Hotel, 133,000 square feet of commercial space and the expansion of the Mercantile Library, one of the oldest membership libraries in the country. More below: https://www.bizjournals.com/cincinnati/news/2022/12/08/model-group-parkes-development-tax-credit.html "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
December 21, 20222 yr $60M redevelopment of Mercantile Library, Center lands historic tax credits By Abby Miller – Reporter, Cincinnati Business Courier Dec 20, 2022 Updated Dec 20, 2022, 2:47pm EST The redevelopment of two Fountain Square district buildings in downtown Cincinnati received state historic tax credits on Tuesday, solidifying the last piece of financing developers needed to move forward with the project. The Model Group applied for and received $5 million in state historic tax credits as part of the 29th round of funds to be awarded through the program. Model Group, in tandem with Mercantile Center building owner Rick Rothfuss, are planning to redevelop the center and the Mercantile Library Building. The project will be an investment of over $60 million, according to the historic tax credit application. Jason Chamlee, Model Group’s vice president for mixed use, said the tax credits are a “critical” part of the project’s financing amid increasing interest rates and construction costs. MORE
April 11, 20232 yr On 5/22, the Historic Conservation Board will review the Traction Building plans: Quote The applicant requests a Certificate of Appropriateness to rehabilitate an existing structure known at the Traction Building Landmark into a boutique hotel, including façade repairs and the construction of a roof top bar.
April 11, 20232 yr 18 hours ago, jwulsin said: On 5/22, the Historic Conservation Board will review the Traction Building plans: States a rooftop bar as well. Wonder if it will be open to the general public. Would be the highest bar in the city with some really great views. Edited April 12, 20232 yr by Ucgrad2015
April 13, 20232 yr Do we know if Model is officially involved in this project or did they just apply together for the TMUD tax credit and that's it?
April 13, 20232 yr 40 minutes ago, Miami-Erie said: Do we know if Model is officially involved in this project or did they just apply together for the TMUD tax credit and that's it? Model is not involved in the Traction Building hotel at all, and the Parkes Company is not involved in the Mercantile building renovation at all. I found it odd that they teamed up for tax credits, but glad that it worked.
May 7, 20232 yr This building reminds me of Columbus' Atlas building. Can't wait to watch this one get done!
October 23, 20231 yr Above the Fold: Mercantile Library doubling in size in downtown Cincinnati By Andy Brownfield – Managing editor, Cincinnati Business Courier Oct 23, 2023 The Mercantile Library has one of the most interesting leases of any organization in downtown Cincinnati. Heck, probably the world. The lease was authored by the father of an American president, and it allows the Mercantile Library to stay in its space for 10,000 years. The price was $10,000, and it was paid in advance. And it includes the option to renew for another 10,000 years at the same price. Pretty sweet deal. John Faherty became the library's executive director in 2015 after a 25-year career in journalism. While at the Cincinnati Enquirer, he spearheaded the Storytellers project, an event that drew 400 people at its first incarnation, another 400 at the second and 500 at the third. Getting people into a room, he said, is what he does for a living, and the Mercantile Library liked that. MORE
October 30, 20231 yr I’ve never seen these designs before of the Kimpton…. Still holding out hope https://www.goodrich.nyc/projects/kimptoncincinnati-interior/ Chamberlain has a rooftop look.. https://www.chamberlainipd.com/copy-of-jekyll-island-res-inn-cou Edited October 30, 20231 yr by 646empire
October 31, 20231 yr 14 hours ago, 646empire said: I’ve never seen these designs before of the Kimpton…. Still holding out hope https://www.goodrich.nyc/projects/kimptoncincinnati-interior/ Chamberlain has a rooftop look.. https://www.chamberlainipd.com/copy-of-jekyll-island-res-inn-cou From the Kimpton renderings... what skyline is that??
October 31, 20231 yr The NEW Ovation called...RenOvation! "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
October 31, 20231 yr 40 minutes ago, küshner said: From the Kimpton renderings... what skyline is that?? Hahaha good catch!
April 9, 20241 yr Model Group taps property manager for downtown Mercantile apartments Model Group has named Village Green property manager for the anticipated Mercantile Building project. The Over-the-Rhine developer announced the partnership in a social media post April 8. Village Green is a Detroit-based firm with around 50,000 apartments under management in 50 cities. Its downtown Cincinnati office is responsible for properties in Ohio, Kentucky, Tennessee, North Carolina, South Carolina and Indiana. "The (Village Green) team will be bringing their seasoned expertise to one of our largest (and most luxurious) developments to date," Model Group wrote in the post. "This collaboration between our teams has been an incredible experience over the past few months, and we cannot wait to share what we’ve been working on with the community." More below: https://www.bizjournals.com/cincinnati/news/2024/04/09/model-group-village-green-mercantile-apartments.html "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
August 7, 2024Aug 7 FINALLY!!!!!!!!!! Groundbreaking is near, financing in place. https://www.bizjournals.com/cincinnati/news/2024/08/07/hotel-downtown-cincinnati-kimpton-parkes-traction.html
August 7, 2024Aug 7 13 minutes ago, 646empire said: FINALLY!!!!!!!!!! Groundbreaking is near, financing in place. https://www.bizjournals.com/cincinnati/news/2024/08/07/hotel-downtown-cincinnati-kimpton-parkes-traction.html damn, this thread started 6 years ago.
August 12, 2024Aug 12 Metro moving its sales office to liquor store's spot in downtown Cincinnati's Mercantile Center By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier Aug 12, 2024 The region’s largest transit agency is moving its main downtown sales office. Cincinnati Metro will move from its location inside the Mercantile Center to a street-facing space on Fifth Street currently occupied by Queen City Wine & Spirits within the next year. Queen City Wine & Spirits will move to a Fourth Street-facing location. "We are all working together to make the Fountain District better," said Model Group CEO Bobby Maly, whose company is redeveloping the Mercantile Center at 120 E. Fourth St. and the adjoining Mercantile Library buildings. MORE
September 24, 2024Sep 24 Model Group unveils $84 million Mercantile Apartments in downtown Cincinnati By Brian Planalp – Staff reporter, Cincinnati Business Courier Sep 24, 2024 Updated Sep 24, 2024 3:09pm EDT Model Group is on the cusp of opening its highly anticipated $84 million office-to-residential conversion of the Mercantile and Formica buildings downtown. The first resident will move into the Mercantile Building Oct. 4, according to Model Group developer Taylor Vogt. Floors three through 10 of the Mercantile Building will be delivered in October, with additional units in that building and the entirety of the adjoining Formica Building slated for delivery in phases through the end of the year. MORE
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