December 21, 200618 yr ^ Yes it is moving to Camp Washington. I never thought Camp Washington would be a good location to lure tourists. There just isn't anything around it unless he has plans to make a prominent sign that you can see off the interstate.
December 21, 200618 yr ...unless he has plans to make a prominent sign that you can see off the interstate. What do you mean..something like this: :laugh: :laugh: :laugh:
March 8, 200718 yr From Downtown Cincinnati Inc. Not much new that hasn't already been posted in this forum except that the OTR Summer Home tour is returning this June to feature the Gateway Living Quarter. http://downtowncincinnati.com/PDFs/4Q_2006_SOD.pdf
April 12, 200718 yr Downtown transformed in 2006, DCI reports More than $680 million in investments in 2006 are creating a new downtown Cincinnati, with a remodeled Fountain Square, condo developments and new restaurants springing up, Downtown Cincinnati Inc. said at its annual meeting Thursday. The downtown booster group met at condo development Park Place at Lytle to elect board members and present its report to the community. Mayor Mark Mallory provided opening remarks and former Cincinnati Mayor Roxanne Qualls was the keynote speaker. Added to the agenda at the last minute was a brief address by New York City Mayor Michael Bloomberg, in town garnering support from Hamilton County and Northern Kentucky mayors for the Mayors Against Illegal Guns coalition, an initiative he started in 2006 with Boston Mayor Thomas Menino to push Congress to provide police officers with information they need to crack down on illegal gun dealers and usage. Read full article here: http://cincinnati.bizjournals.com/cincinnati/stories/2007/04/09/daily34.html
April 12, 200718 yr Here is the full PDF for the 2006 Yearly Report: http://www.downtowncincinnati.com/PDFs/StateOfDowntown2006.pdf
April 13, 200718 yr Focus on downtown quality, Qualls urges A surprise from the current Cincinnati mayor and a challenge from a past Cincinnati mayor marked the annual meeting of Downtown Cincinnati Inc. this morning. Mayor Mark Mallory brought New York Mayor Michael Bloomberg, in town to announce a crime control initiative, by the meeting. And former Mayor Roxanne Qualls said Cincinnati should work to tailor construction of the restructured Interstate 75, the Brent Spence Bridge and The Banks riverfront project to include environmentally friendly technologies and new designs. “The quality of place matters because anybody with talent has choice,” said Qualls, now director of Public Leadership Initiatives at Northern Kentucky University. “They don’t just look at their paycheck, they don’t just look at their title. They look at the quality of the place they’re going to. There’s no advantage to going to anyplace USA.” Read full article here: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20070412/BIZ01/304120040/1002/COL02
April 13, 200718 yr I'm in total agreemet with Qualls on this one; incorporate eco-friendly design elements into the areas mentioned and that would help in creating a unique feel.
April 14, 200718 yr I liked Roxanne gutsy with a good perspective on things. I'm glad she's still active in the city.
April 27, 200718 yr DCI project director gets welcome wagon rolling Dacia Snider is sometimes referred to as downtown Cincinnati's welcome wagon. She's certainly one of its biggest fans. As director of special projects for Downtown Cincinnati Inc. (DCI), a nonprofit organization dedicated to building a dynamic city center, Snider is responsible for welcoming new businesses and residents downtown. Additionally, she researches and publishes the quarterly and annual State of Downtown Cincinnati reports and produces the annual Downtown Tour of Living. "If anyone has a question about downtown, I pretty much have the answer," she said. Snider, 30, a native of Warren, Ohio, grew up in a house with her Romanian immigrant great-grandmother, her grandparents, mom and sister. She had her first exposure to the city of Cincinnati while interning downtown for the Cincinnati Chamber of Commerce's economic development department. Snider was studying finance and public administration at Miami University at the time and remembers clearly her first impressions of Cincinnati, which weren't so positive. Read full article here: http://cincinnati.bizjournals.com/cincinnati/stories/2007/04/30/story16.html
April 27, 200718 yr Snider, 30, a native of Warren, Ohio, She's from where I'm from!!! See, people from Warren, Ohio can do great things...lol
April 28, 200718 yr Yes - if downtown had 100 more Dacia Snider's, it would indeed be awesome. I appreciate people with her enthusiasm.
April 28, 200718 yr Would you say that Roxanne Qualls was Cincinnati's best modern day mayor? Dunno about that but I liked her. As a "weak" mayor, she offered leadership & direction. Moreso than subsequent "strong" mayors.
April 28, 200718 yr Out of curiosity... how many square miles is "Downtown" as defined by the "Downtown that has a population of 7,700"? another 800 CONDOS under construction? impressive
April 28, 200718 yr This is directly from the report: For purposes of this report, “downtown” or the Central Business District is defined by Eggleston Avenue, Central Parkway, Central Avenue, and the riverfront. “Greater downtown” includes the Over-the-Rhine, Pendleton, City West, Betts-Longworth, Adams Landing and Riverside Drive neighborhoods.
April 28, 200718 yr Out of curiosity... how many square miles is "Downtown" as defined by the "Downtown that has a population of 7,700"? another 800 CONDOS under construction? impressive In that same line you're quoting from, I'd seriously doubt that the average condo price being $333K, include units from OTR. (By the way, were you serious about your Baltimore comment on SSP, lol.)
April 28, 200718 yr Out of curiosity... how many square miles is "Downtown" as defined by the "Downtown that has a population of 7,700"? another 800 CONDOS under construction? impressive the CBD is .8 sq miles
April 30, 200718 yr Taft law firm expanding downtown space Taft Stettinius and Hollister LLP will expand at its longtime home in the U.S. Bank Tower downtown, the law firm said Monday. Taft said in a news release that it extended the terms of its current lease to add an additional 20,000 square feet, for a total of 135,000 square feet in its Walnut Street offices. The lease, which runs through 2023, allows for additional expansion if needed. The law firm said it also is creating a large meeting/conference room and informal sitting areas on the second floor of the tower, overlooking the newly renovated Fountain Square. Those renovations, designed by KZF and built by Messer Construction, are expected to be completed in 2008. Read full article here: http://cincinnati.bizjournals.com/cincinnati/stories/2007/04/30/daily8.html
May 24, 200718 yr Generally positive. Number of Condo sales took a nose dive for the quarter but that could be a reflection of the general market. They need to get rid of the beer hall of fame and next condos from the proposed developments. Parker Flats is 65% sold out. As soon as contruction is done there, I hope Middle Earth moves on to the lot at 4th and plum. A lot of possibilites there the link http://www.gototown.com/AboutDCI.html
May 24, 200718 yr Out of curiosity... how many square miles is "Downtown" as defined by the "Downtown that has a population of 7,700"? another 800 CONDOS under construction? impressive the CBD is .8 sq miles The area with the population estimate of 3,980 (CDB - 2006) is defined as - "(a)The CBD is defined by Eggleston Ave., Central Parkway, the riverfront and Central Ave." The area with the population estimate of 7,785 (Greater CDB - 2006) is defined as - "The greater CBD includes the neighborhoods of Over-the-Rhine (OTR), City West/Betts-Longworth, and Adams Landing" The CDB has been adding about 200 to 300 residents every year since 2000. Solid steady growth. But, if you look at the 2006 annual report they project the CDB downtown population will grow from from a population of 4,292 in 2007 to 8,378 in 2010. WOW!!! That would mean the CDB would have to start growing by about 1,300 new residents in 2008, 2009, 2010. What do they think is going to create such a massive boom in demand? I am all for downtown growth but I think those numbers are WAY high. :-o
May 24, 200718 yr i think the second count included the CBD plus those other areas. That's how I interpret it, but the number for the greater CBD area seems low. So OTR, Betts-Longworth/City West, and Adams Landing on has 3805 people? I thought OTR itself had around 6000-7000 people in it. Perhaps they are including part of OTR, or have a ton of people left the area?
May 24, 200718 yr I don't understand why theres all these studies using different areas included in the CBD. In Cincinnati especially, the CBD is clearly defined.
May 24, 200718 yr i think the second count included the CBD plus those other areas. That's how I interpret it, but the number for the greater CBD area seems low. So OTR, Betts-Longworth/City West, and Adams Landing on has 3805 people? I thought OTR itself had around 6000-7000 people in it. Perhaps they are including part of OTR, or have a ton of people left the area? My understanding is the the Greater CDB includes the CDB number. So the total for the downtown area is 7,785. If someone has information that the state of downtown numbers are wrong they should let them know. What ever downtown's population is, expecting the downtown to double it population in just 3 years is very bullish. Remember, the banks won't even have phase one done before 2010 and that phase is only to have a few hundred units. If the banks development in its early stages (up to 2010) can create housing demands for downtown at 4 to 5 times the rate it currently is at that deserves national and international attention.
May 24, 200718 yr Downtown Condo sales and growth rate 1st quarter '06 - sales (52) price ($317,732) 2nd quarter '06 - sales (76) price ($351,970) 3rd quarter '06 - sales (22) price ($341,129) 4th quarter '06 - sales (21) price ($281,767) 1st quarter '07 - sales (17) price ($201,631) There seems to be a trend that is developing for downtown and its not a good one. Since the Condo and RE bust hit the US back in mid to late Summer of '06 condo sales and prices continue to drop in downtown Cincy, which is what is happening in most US cities right now (developers are even starting to drop some projects in places like Chicago). If the data shows 2nd quarter '07 still slow with prices way down the chances of downtown population coming close to their projected 2010 numbers are very slim. You can see how not only sales numbers but prices over the last 6 to 8 months have really dropped off. I think the developers of the banks are seeing similar data and that is why they have been very vauge on how many units phase 1 of the banks will have and what type of units they will be.
May 24, 200718 yr There is no way that OTR, Betts-Longworth/City West and Adams Landing combined only have 3805 people. According to the OTR chamber of commerce the population in 2000 was 7,638. A 50% drop would still be over 3805 and that doesn't even factor in the other three areas. Something doesnt' add up. I am sticking with my guess that the Greater CBD population including the CBD is 11,765.
May 24, 200718 yr Downtown Condo sales and growth rate 1st quarter '06 - sales (52) price ($317,732) 2nd quarter '06 - sales (76) price ($351,970) 3rd quarter '06 - sales (22) price ($341,129) 4th quarter '06 - sales (21) price ($281,767) 1st quarter '07 - sales (17) price ($201,631) There seems to be a trend that is developing for downtown and its not a good one. Since the Condo and RE bust hit the US back in mid to late Summer of '06 condo sales and prices continue to drop in downtown Cincy, which is what is happening in most US cities right now (developers are even starting to drop some projects in places like Chicago). If the data show 2nd quarter '07 still slow with prices way down the chances of downtown population coming close to their projected 2010 numbers are very slim. You can see how not only sales numbers but prices over the last 6 to 8 months have really dropped off. I think the developers of the banks are seeing similar data and that is why they have been very vauge on how many units phase 1 of the banks will have and what type of units they will be. The reasons the sale prices are down has to do with the buildings that are being sold. The previous numbers had a lot of sales in the buildings around Lytle Park. These new numbers probably (I don't know for sure) reflect sales in Parker Flats, the Edge, the Brittany?, and other more affordable buildings. I don't know if the Gateway units in OTR are included, but it seems they have been selling very well and are much cheaper than the units closer to the river.
May 24, 200718 yr Interesting fact: From 1980 to 2000, Cincinnati lost 6% of its households but 14% of its population.
May 24, 200718 yr You may be right, UncleRando and I once calculated that area using census track data and we came up with about 11,000 people. But, the main point of the post was how sales and prices are really starting to drop in the downtown area.
May 24, 200718 yr Downtown Condo sales and growth rate 1st quarter '06 - sales (52) price ($317,732) 2nd quarter '06 - sales (76) price ($351,970) 3rd quarter '06 - sales (22) price ($341,129) 4th quarter '06 - sales (21) price ($281,767) 1st quarter '07 - sales (17) price ($201,631) There seems to be a trend that is developing for downtown and its not a good one. Since the Condo and RE bust hit the US back in mid to late Summer of '06 condo sales and prices continue to drop in downtown Cincy, which is what is happening in most US cities right now (developers are even starting to drop some projects in places like Chicago). If the data show 2nd quarter '07 still slow with prices way down the chances of downtown population coming close to their projected 2010 numbers are very slim. You can see how not only sales numbers but prices over the last 6 to 8 months have really dropped off. I think the developers of the banks are seeing similar data and that is why they have been very vauge on how many units phase 1 of the banks will have and what type of units they will be. The reasons the sale prices are down has to do with the buildings that are being sold. The previous numbers had a lot of sales in the buildings around Lytle Park. These new numbers probably (I don't know for sure) reflect sales in Parker Flats, the Edge, the Brittany?, and other more affordable buildings. I don't know if the Gateway units in OTR are included, but it seems they have been selling very well and are much cheaper than the units closer to the river. Do you really believe that explains 35% drop in sales prices? It might cause numbers to fluctuate some but that much, I am more inclined to believe prices are being lowers. I don't understand why people can't believe that developers have dropped prices since sales numbers have now been dropping for almost a year. Out in the suburbs I have seen new townhomes and single family projects drop their prices by $30,000 or more and that on product that was only priced in the $180,000 to $230,000 range. It not complicated, sales are way down, inventories are way up and prices are dropping. At the current selling rate compared to units under construction the downtown area has more than a 5 year supply of condos. That is a LOT!!! In most RE anything over about a 1 year supply is considered to much.
May 24, 200718 yr Interesting fact: From 1980 to 2000, Cincinnati lost 6% of its households but 14% of its population. Maybe its because more than one person lived in the household. It probably more like 2.5 to 3 persons per household.
May 24, 200718 yr ^of course, That just shows a lot of the population loss is due to demographic shifts in our family/household size and not buildings and houses being abandoned wholesale.
May 24, 200718 yr Parker Flats Prices 180-350k The Brittany 189-209k Park Place at Lytle 200-1,000k McAlpin 259-700k 18E4th 412k+ Depending on the buildings being sold there is a huge difference in the most expensive condos. If they use the median sale price this would be less of big difference than if they use the mean. I don't know which is used.
May 24, 200718 yr Parker Flats Prices 180-350k The Brittany 189-209k Park Place at Lytle 200-1,000k McAlpin 259-700k 18E4th 412k+ Depending on the buildings being sold there is a huge difference in the most expensive condos. If they use the median sale price this would be less of big difference than if they use the mean. I don't know which is used. Maybe its means only the low end is selling because people are not will to pay for the high end product? Median 4th quarter '06 - $242,000 1st quarter '07 - $174,000 Median is also going down by a lot and so is the amount of units being sold.
May 24, 200718 yr the entire housing market is weak right now. The person who benefits most is the first time homebuyer and they are the person who is most likely to buy a low end product.
May 24, 200718 yr I would like to see the sales of units in the Gateway Urban Living Quarter after one year and then I would feel I have a better picture of the market. And if the streetcar is approved, the amount of activity is going to change for the better.
May 24, 200718 yr The high-end condo demographic has been more than tapped into both in the city and suburbs. I don't think it is a bad thing or a negative trend that the prices of condos are going down. The younger and middle class demographics that would like to own a home have been largely ignored over the past decade. It's time for some catching up with more affordable owner-occupied units and more rental units...that is where the market demand lies. I actually find this trend of lowering condo prices to be a positive for downtown. It will allow for more young people and families the opportunity to move downtown. Enough of this over-catering to the baby-boomers!
May 24, 200718 yr Randy, next time you are talking to anyone important or a member of the press, you need to say what you said at the streetcar forum about Cincinnati already knows how to cater to the baby-boomer demographic and needs to work on younger folks. you put it really well.
May 24, 200718 yr ^well thanks...I spew my opinions any/everywhere I possibly can. Thus far the members of the press that I have contacted (Joe Wessels aside) haven't been all that receptive (not one thing I have said has been published). But I'll keep on fighting the good fight, and working on those VIP's.
May 24, 200718 yr Parker Flats Prices 180-350k The Brittany 189-209k Park Place at Lytle 200-1,000k McAlpin 259-700k 18E4th 412k+ Depending on the buildings being sold there is a huge difference in the most expensive condos. If they use the median sale price this would be less of big difference than if they use the mean. I don't know which is used. Maybe its means only the low end is selling because people are not will to pay for the high end product? Median 4th quarter '06 - $242,000 1st quarter '07 - $174,000 Median is also going down by a lot and so is the amount of units being sold. Given when the closings for the 100 or so of the units actually closed in Park Place at Lytle, and the typical cost of the units, I would say that could easily explain the difference for the first three quarters reported from the rest. I expect the numbers to show another increase (or bubble) as the McAlpin units start running there closings through this quarter and next.
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