Posted February 9, 200520 yr Here are a few projects that flew under the radar in 2004. These were picked from Downtown Cincinnati Inc.'s 4th Quarter State of the Downtown. Other info came from the Cincinnati MLS, the Hamilton County Auditor and other various websites. If any of these create a discussion, I'll split them off if necessary. Ahrens-Fox Lofts Address: 214 E. Fourteenth St. Description: Historic fire engine factory built in 1888 Developer: River City Developers Ltd. Units: 7 lofts Unit size: 2 BR, 2100 SF Status: For sale, $325,000-$430,000 http://www.huff.com/web/search/SearchDetails.asp?mls=868886&prop=1006518 Flats on Main Address: 1324 Main St. Description: Built in the 1850s-1860s Developer: Peter D. Chabris Units: 6 condo lofts Unit size: 1-2 BR, no size given Status: For sale, $165,000-$245,000 http://www.huff.com/web/search/SearchDetails.asp?mls=911965&prop=1059632 1411 Main St. Address: 1411 Main St. Description: Built in 1884 Developer: Dorian Development Units: 11 rental apartments Unit size: 657-1237 SF Status: I have no earthly idea...I can't seem to find any rental info on it 12th & Clay Address: 1206-1208 Clay St. Description: Built in 1865-1866 Developer: Model Management Units: 5 rental townhomes Unit size: 800-1100 SF Status: Available, $700-$815/mo. Sycamore Orchard Condominiums Address: 1417 Sycamore St. Description: Building from 1870 Developer: Peter D. Chabris Units: 3 "efficiency" condos Unit size: around 600-650 SF Status: completed and sold City Lofts on Dunlap Address: 1908 Dunlap St. Description: Former furniture manufacturing facility built in 1892 Developer: City Lofts Development LLC Units: 6 loft condos Unit size: 1500-3000 SF, 1-2 BR Status: completed, $119,000-$225,000 http://www.huff.com/web/search/SearchDetails.asp?mls=872943&prop=1011354 Crawford Lofts Address: 1410-1418 Main St. Description: Building from 1850 Developer: City Center Properties Units: 18 loft condos Unit size: most around 1200 SF Status: completed and sold out http://www.cincinnatilofts.com/main1420_index.htm Collins Lofts Address: 1341-1343 Main St. Description: Building from 1894 Developer: River City Developers Ltd. Units: 6 condo lofts Unit size: 800-2000 SF Status: completed, $79,000-$159,000 http://www.huff.com/web/search/SearchDetails.asp?mls=869261&prop=1006838 1404 Sycamore Address: 1404 Sycamore St. Description: Building from 1885 Developer: Bray Development LLC Units: 3 loft condos Unit size: around 1000 SF Status: completed, $140,000 http://www.huff.com/web/search/SearchDetails.asp?mls=912896&prop=1060726 The Melindy Address: 1431 Main St. Description: Building from 1900 Developer: 1420 Main Street LLC/Chris Frutkin Units: 7 loft condos Unit size: 1600 SF Status: completed, $139,500 http://www.cincinnatilofts.com/main1431_index.htm http://www.huff.com/web/search/SearchDetails.asp?mls=892608&prop=1035462 Goodland Condominims of Main Address: 1427-1429 Main St. Description: Buildings from 1900 Developer: Goodland Condominiums of Main LLC Units: 6 loft condos Unit size: 750-1600 SF Status: completed, $80,000-$181,000 1349 Main St. Address: 1349 Main St. Description: Building from 1875 Developer: Eber Development LLC Units: 14 rental apartments Unit size: approx. 800 SF Status: completed, I believe 26 E. Thirteenth St. Address: 26 E. Thirteenth St. Description: Building from 1880 Developer: Urban Design Development LLC Units: 4 rental apartments Unit size: 800-1300 SF Status: completed, no rental data 1116-1118 Race St. Address: 1116-1118 Race St. Description: Building from 1885 Developer: City Lofts Units: 2 townhomes Unit size: 2400 SF Status: completed, $230,000
February 9, 200520 yr Well, Im impressed. It looks like urban loft rehab is really taking off in Cincy....this is a good sign.
February 9, 200520 yr Thank you for probably being the only person who looked at my thread, which took about 1 1/2 hours to put together. You should feel special.
February 9, 200520 yr Grasscat, Thanks for putting the thread together. I recently had the chance to go to a party in the Ahrens-Fox lofts and they are very nice, with a lot of unique touches. Unfortunately, only 2/8 are sold so far. Much more fortified than your average OTR residential units. I believe the apartments in the 1411 Main building are ready for rental, there's a large sign with photos in the window of the currently-vacant retail storefront. 2004 was a good year for OTR, and although I'm not aware of too many new projects (it's still early), I will be glad when the units in the available buildings are sold/rented.
February 9, 200520 yr I definitely looked at the thread, looked at each property, just didn't have anything worthwhile to add...probably should have thrown in a thanks - didn't think about how long that must have taken...so thank you! Very encouraging news!
February 9, 200520 yr Thanks for posting. I have a question for you real-estate gurus: On one hand I'm excited about all the new construction and conversions in and around downtown. Downtown residential population is up. I really hope that the area improves. On the other hand I still see hundreds of empty buildings, trashy lots, and broken windows. These are bad signs indeed. Let's just say that I could afford to rehab a building, but I can't afford to rehab the whole block. What is the market for residential property? I see some units for sale above. The last thing a developer wants to do is dump money in a project and not land a sale. Are people still moving into downtown and vicinity, or has this trend peaked? Are vacant lots priced fairly, or are land speculators taking advantage of novice developers? Is it possible to make money on these kinds of projects without a subsidy?
February 10, 200520 yr I recently had the chance to go to a party in the Ahrens-Fox lofts and they are very nice, with a lot of unique touches. Unfortunately, only 2/8 are sold so far. that doesn't surprise me considering the typical person interested in a property in that location/style doesn't have the $325,000-$430,000 that they're asking, and the typical person with that kind of money isn't interested in that type of location. great thread grasscat, these renovations/conversions are fantastic, but unfortunately it's yet to bring substantial revitalization to business/neighborhood amenities. in due time, i hope.
February 10, 200520 yr Wonderful job, Grasscat! "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
February 11, 200520 yr 2004 was a good year for OTR, and although I'm not aware of too many new projects (it's still early), I will be glad when the units in the available buildings are sold/rented. Look out for an upcoming thread--I'll have the ones that are in the works so far. You think City Lofts on Dunlap would post a better picture of themselves eh? Yeah...I don't remember if I got this off of the Auditors website or from the MLS. Pretty bad looking, though. that doesn't surprise me considering the typical person interested in a property in that location/style doesn't have the $325,000-$430,000 that they're asking, and the typical person with that kind of money isn't interested in that type of location. great thread grasscat, these renovations/conversions are fantastic, but unfortunately it's yet to bring substantial revitalization to business/neighborhood amenities. in due time, i hope. Absolutely true. Some of these prices blow my mind. At some point the market wil work itself out, I guess.
February 11, 200520 yr Thanks grasscat! I love to see positive OTR news. OTR revitalization is gaining momentum slowly but surely. Alot of downtown residential is going to fruit very soon. The more middle to upper income residential downtown and in OTR is going to clean it up and make way for new projects! :clap:
February 13, 200520 yr Eighth & State: The developers that have been fixing up old buildings in OTR have generally congregated their projects together, beginning around Main St. between 13th to Liberty. Rehabs are now starting to branch out a little, down 12th street and over to the Broadway/Reading Rd. area and Spring St. in Pendleton, for example. And there are property owners who have really bucked the trend and fixed up places on Washington Park, and around Findlay Market. I'm assuming the volume of abandoned buildings to which you refer are those scattered throughout OTR, not the central business district (south of Central Pkwy., what I consider 'downtown'). Relatively speaking, there aren't many abandoned buildings downtown. There are parts of OTR that look like hell, with trash, decay, and abandonment. But there are areas that look pretty darn good in my opinion. I think the buildings that are available and have vacancies will sell given time. With the exception of a few poorly-executed remodels (the Collins Lofts are stuck in 1990), most of the units for sale haven't been out there for more than a few months. I think that Spring and the OTR Tour of Homes will help sell out the rest of them. As for downtown, it's a completely different picture there. I think developers, such as those behind the McAlpin lofts, have been aiming a little too high with their price points. Once there's a stock of units available in the $175-225 range, you'll really start to see more people downtown. Remember that most of the downtown owner-occupied residential projects are just coming online (like the Graydon Lofts by the CAC, and 18 E. 4th) or are still in progress, such as Park Place at Lytle, Fort Washington building, McAlpin).
February 13, 200520 yr I know it's risky territory but I would really like to see someone develop the block of buildings bounded by Sycamore, Liberty, and Mulberry, essentially that block just north from where Main street ends. There aren't a terrible amount of buildings there and for the most part I think they're vacant. It would just be a huge piece of the puzzle if you could connect the Mulberry, Prospect Hill, and North Sycamore areas to the Main Street Area, instead of leaving this gaping hole. The continuity, in my opinion, would take what really are 3 or 4 separate areas and combine them into one.
February 13, 200520 yr Sycamore and mulberry are beaming with new construction and rehabs. Boal street one st up from milton@ sycamore is going to have 7-8 townhomes built in the $500,000 range. the one area I would llike to see cleaned up is the notorious drug zone of schiller @ main by the rothenburg school. once that area is renewed one would be able to walk safely from mulberry to downtown by the way of main st.
February 13, 200520 yr That's the exact area (Schiller) I was talking about and I think your last comment helps prove my point.
February 13, 200520 yr The buildings at the NE and NW corners of main were sold a few years ago 03 I think, and are going to be rehabbed the last I heard from the realtors across the street. All those properties 1600-1605 are owned by the same company and it will be nice once the work gets started, "scaffolding has been up for a long time" Cars have crashed into a couple of the buildings in the last 6 months but no major damage.
February 14, 200520 yr Kendall, thanks for mentioning Pendleton. In my other thread there are a few on Spring St., and we all know about the projects on Broadway.
February 15, 200520 yr Well I think it might be awhile before anything happens down in the schiller/hughes/main area since that area is controlled by thugs..Went for a walk and was about 1 block from the area when small gunfire erupted "4 quick shots"..it was really interesting how other people residents and other passerby in the area stopped, looked around then went back to their normal business..LOL one guy even started putting his drycleaning neatly into the backseat of the car. Amazing..
February 15, 200520 yr Went back and was pleasantly surprised to see that facade work is in progress "men actually working"on the 3rd building up from liberty:)
February 15, 200520 yr Isn't there a gas station on the NW corner of Liberty and Sycamore there? Or is that set back onto Liberty?
February 26, 200520 yr East McMicken is still kind of iffy right now. They are slowly working on the buildings on the NE corner of Main and Liberty. The Franciscans fixed up quite a few of the buildings on this street within the past few years, but very little private development. I'm working on a couple of buildings on that street (hence the name), but would definitely like to see more.
February 27, 200520 yr I like Mini-marts usually you find the type of small businessmen and women just trying to make a buck and provide for their kids. They're good stop and go places.
April 22, 200520 yr Update on Main St. North of Liberty. o ｧ Development will have 6 buildings, 18 residential units and 6 commercial shops with a streetscape along Main St ｧ The paperwork is complete and completion is anticipated for December 2005 ｧ Community suggestions were solicitated and included: deli, coffee shop, small grocery. This is great news for the area between Mulberry and liberty
April 22, 200520 yr ^Maximillian, where exactly did you get that article? It's good to see some development in that area.
April 22, 200520 yr I've heard word (rumor and innuendo, actually, so apply salt grains liberally) that there may be more projects in the upper Main/Mulberry area. This is in the very early stages and is not yet confirmed, but it could feed off of the projects being built on Mulberry mentioned above. Different that the one Maximillian mentions.
April 22, 200520 yr N.A meeting. Also going on in close proximity is new construction on boal st off of sycamore. The hillside has been stabilized already in anticipation for the construction of 7-8 houses:) This area is really seeing signs of improvement.
April 23, 200520 yr ^ I noticed that the other day (Boal St., that it). I think I threw it in another thread. Good news, Max!
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