Now that I think of it, I do have trouble tricking my brain into thinking that I'm consuming haute cuisine when I'm eating a burger.

>but I think it was just about 18 months, right? Or was it less?

 

The apartments that are there now were built immediately after the garage was finished.  Here are my photos of the garage construction in Feb 2010:

http://www.urbancincy.com/2010/02/tour-of-the-banks-february-2010/

 

But the apartments that might start construction next summer are being built atop a finished garage, so yeah they might finish them in 12 months. 

 

Meanwhile, 300 units x $1,000/mo rent means they're bringing in at least $3 million and possibly over $4 million in 2012.  I don't know what they're getting from their commercial leases, but at this level of occupancy they're definitely making money above their mortgage payment. 

 

^ sweet thanks.

 

Although, the garage is already "capped" in those photos.  The new one isn't capped... So there's about a 4 weeks of work right there...  These photos were February 2010 and tenants moved in April 16 2011.

 

I would say, If they break ground in August, they will likely be opening the block/apartments December/January of 2012.  Remember, that first block still has a large flat footprint for future office development.  The Developers have seemed to imply that this next block will be solid apartments. 

 

I'm placing my money on a 14-15 month timeline.

 

ALSO- The block SOUTH of the current parking structure is the next spot for the public infrastructure.  I'm fairly certain that is county led, and with all the chaos of Monzel & Portune's idiot moves to sell the Drake, I doubt we're going to get started on that during 2012  :(

 

Also, Riverfront Park cannot continue construction west of the Roebling Bridge until the pedestal is built for that same block (officially titled Lot 24). 

Walked out of my apartment this morning and saw a new sign on the space directly adjacent to holy grail on freedom way that read "coming soon: Mahogany's at the Banks" not necessarily sure what this is, but there is a mahogany's steakhouse chain nationally so that was my assumption... I hadn't seen this mentioned anywhere so I figured id share it with you all (sorry for not taking a picture)

>and with all the chaos of Monzel & Portune's

 

Monzel is the master of mayhem.  But it is the county -- not the city -- that is really suffering right now because their income is mostly collected from property taxes.  I'm at work so I can't look it up, but we keep hearing about sales tax receipts are down when the real problem is the plunge in property tax receipts.  Meanwhile, most of the city's income is from the earnings tax. 

Walked out of my apartment this morning and saw a new sign on the space directly adjacent to holy grail on freedom way that read "coming soon: Mahogany's at the Banks" not necessarily sure what this is, but there is a mahogany's steakhouse chain nationally so that was my assumption... I hadn't seen this mentioned anywhere so I figured id share it with you all (sorry for not taking a picture)

 

There's a little bar/coffeehouse in Latonia near Ritte's Corner called Mahogany's: http://www.mahoganyslive.com/indexs2010_files/page0001.htm

 

Seems extremely unlikely, but thought I'd mention it.

There's also a Mahogany's restaurant in Hamilton (nice place).

 

http://www.mahoganyscafeandgrill.com/

 

I pray it's that.  Cincinnati is always in need of a nice, black-owned restaurant.

Walked out of my apartment this morning and saw a new sign on the space directly adjacent to holy grail on freedom way that read "coming soon: Mahogany's at the Banks" not necessarily sure what this is, but there is a mahogany's steakhouse chain nationally so that was my assumption... I hadn't seen this mentioned anywhere so I figured id share it with you all (sorry for not taking a picture)

 

There's a little bar/coffeehouse in Latonia near Ritte's Corner called Mahogany's: http://www.mahoganyslive.com/indexs2010_files/page0001.htm

 

Seems extremely unlikely, but thought I'd mention it.

 

I don't see any liquor permit activity for that name

There's also a Mahogany's restaurant in Hamilton (nice place).

 

http://www.mahoganyscafeandgrill.com/

 

I pray it's that.  Cincinnati is always in need of a nice, black-owned restaurant.

 

Looks like we'll find out today around 2:45 ... and judging by the press conference location for the announcement of the new restaurant, you may be on to something with Mahogany's. My guess is it's either that or Ruth's Chris, but I don't know why you'd hold the presser at the NURFC if it's RC.

 

http://www.bizjournals.com/cincinnati/news/2012/01/10/another-restaurant-headed-to-the-banks.html

Crossposting from the Cinci restaurants thread:

 

http://cincinnati.com/blogs/developingnow/2012/01/10/mahoganys-of-hamilton-next-banks-tenant/

Mahogany’s Cafe and Grill, an upscale African American-owned soul food restaurant, will open in April its second location at the Banks.

Wow, a restaurant announcement at The Banks that I'm actually excited to try.

 

I still think it's going to be over-restauranted, though. :(  But I hope this one makes it, Cincinnati needs more southern/soul food choices, especially considering its history and geographic location.

>and with all the chaos of Monzel & Portune's

 

Monzel is the master of mayhem.  But it is the county -- not the city -- that is really suffering right now because their income is mostly collected from property taxes.  I'm at work so I can't look it up, but we keep hearing about sales tax receipts are down when the real problem is the plunge in property tax receipts.  Meanwhile, most of the city's income is from the earnings tax. 

 

I haven't seen anything out of Hamilton County, but Franklin Co. recently reassessed everyone's property values. Most sprawl took a beating, losing anywhere from 1 to 26% of its value while place like the Short North, Downtown, Grandview and Bexley increased in anywhere from 1 to 18%.

 

 

 

Cincinnati is vastly different than Columbus when it comes to property values and the speed with which areas melt down, though.

Walked out of my apartment this morning and saw a new sign on the space directly adjacent to holy grail on freedom way that read "coming soon: Mahogany's at the Banks" not necessarily sure what this is, but there is a mahogany's steakhouse chain nationally so that was my assumption... I hadn't seen this mentioned anywhere so I figured id share it with you all (sorry for not taking a picture)

Lawd Jesus yes!!! 

They do, eventually, plan to introduce a retail component into The Banks, I hope? I'm thrilled with the restaurants, but coupled with what's already in the central business district and OTR and what's still to come (like the new 21c restaurant, Boca and the QCS restaurant), not to mention Mount Adams and Newport and I am wondering if we're rapidly approaching the point of over-saturation in the downtown basin area.

I love Mahagony's. This is the first thing at the Banks I'm excited about.

^Agreed.

Definitely a loan of $300k and possibly $500k more, why isn't a bank doing this financing?  Is that normal?

Cincinnati is vastly different than Columbus when it comes to property values and the speed with which areas melt down, though.

 

Er, that came out bad. What I meant is that in Columbus we have a lot of parts of town built from the '60-'90s and even the early 2000s that are looking a bit worse for wear, whereas Cincinnati doesn't see that as much (Forest Fair Mall excluded).

DunnhumbyUSA maybe looking at office space at the banks.

 

http://news.cincinnati.com/article/20120111/BIZ/301110159

DunnhumbyUSA maybe looking at office space at the banks.

 

http://news.cincinnati.com/article/20120111/BIZ/301110159

 

Interesting article ... and their possible move hits at virtually all the available vacant land parcels downtown, including a proposed Third and Race tower (yes please!), Court Street near the Kroger Building and empty land along the riverfront owned by Montgomery Inn. Unfortunately, Mason is also mentioned.

Right, they're getting business because of their high ceilings.  Put the same people to work sitting at grade school cafeteria tables and all the sudden they run out of ideas. 

"WWCSD?"  (What would Chris Smitherman do?)  For results we can trust, I think this entire Dunnhumby challenge should be turned over to our most forward-thinking councilman and his core of downtown-development specialists.  :wink:

DunnhumbyUSA maybe looking at office space at the banks.

 

http://news.cincinnati.com/article/20120111/BIZ/301110159

 

Exciting article.  I think dunnhumby is the only company that can make the 180 Walnut office building happen anytime soon.  There has been zero chatter for potential tenants there until now.

 

Their current HQ at 444 W. 3rd is in a terrible spot on an island all by itself.  I'm kind of rooting for the bridge project to take it away so they can have a reason to move.  5th and Race and the 580 building don't seem like good fits.  dunnhumby is growing at such a rapid pace that I think the Banks is the perfect neighborhood with perfect visibility for them.

 

Finally, I think construction of 180 Walnut will make it easier for a hotel operator to sign up for the space on Main.  Very exciting news for the Banks.

Right, they're getting business because of their high ceilings.  Put the same people to work sitting at grade school cafeteria tables and all the sudden they run out of ideas. 

 

Can’t tell if that’s sarcasm, but basically that’s their predicament; the people they want working for them don’t want to work in an ugly space.  They’ll probably end up building a very unique new building because the type of renovated old warehouse type open office they are after doesn’t exist downtown anywhere, and surely doesn’t exist in the suburbs.  The only places it does exist aren’t desirable neighborhoods, ie Camp Washington.  The space they have now is pretty amazing, and that look is part of their marketing and brand.  I really doubt they’d move to a suburban office park because of how closely the look of their space is tied to their brand.

DunnhumbyUSA maybe looking at office space at the banks.

 

http://news.cincinnati.com/article/20120111/BIZ/301110159

 

Exciting article.  I think dunnhumby is the only company that can make the 180 Walnut office building happen anytime soon.  There has been zero chatter for potential tenants there until now.

 

Their current HQ at 444 W. 3rd is in a terrible spot on an island all by itself.  I'm kind of rooting for the bridge project to take it away so they can have a reason to move.  5th and Race and the 580 building don't seem like good fits.  dunnhumby is growing at such a rapid pace that I think the Banks is the perfect neighborhood with perfect visibility for them.

 

Finally, I think construction of 180 Walnut will make it easier for a hotel operator to sign up for the space on Main.  Very exciting news for the Banks.

 

180 Walnut makes sense as they'll be able to build it to their spec if they want. Also it gives the company a huge presence if they have naming rights on the building.

 

As for the Hotel, I'm still not sure why they don't just build more residential there and put the hotel in the next phase.

Yeah, this is an opportunity to do something interesting on the Banks (and silence the internet forum critics!), instead of the box office building in the renderings. 

 

Yeah, I am criticizing the idea that non-traditional spaces spur creativity.  And the idea that working for a marketing company is glamorous in the least, especially since the idea people likely don't retain their patents/intellectual property.

^I'm surprised that you don't put any stock in the ability of one's surroundings to affect mood, creativity, etc. 

DunnhumbyUSA maybe looking at office space at the banks.

 

http://news.cincinnati.com/article/20120111/BIZ/301110159

Interesting article ... and their possible move hits at virtually all the available vacant land parcels downtown, including a proposed Third and Race tower (yes please!), Court Street near the Kroger Building and empty land along the riverfront owned by Montgomery Inn. Unfortunately, Mason is also mentioned.

think the Camp Washington Kahn's site would work for 'em. It's got a river view, too.

Not great access to the east side, tho.

Wait what?? People are saying some crazy things.

 

Is the Kahns comment a joke?! It must be. That's going to be clean industrial and it's in no way close to other marketing/high paying job corridor. AND  they want to be near Kroger.

 

Also, has anyone seen the inside of the Dunnhumby offices?! They are amazing and were renovated less than 2 years ago for almost 10 million of dollars!!  I mean this is a stunning facility (but too small due to their expansion). To suggest it should be torn down is pretty ridiculous.

 

Finally, it's not THAT hard to access.  Take any down town street to Third, then make a right turn into a drive way. To leave is hardly more complicated than any other downtown office on a one way street. Right on third, left on smith left on 2nd and then you can get anywhere.

 

They should move to The Banks, but then someone ELSE should take this beautiful office space on the edge of downtown.

^I think they're referring to pedestrian access.  At most downtown offices, you're pretty close to lunch spots and shops.  Dunnhumby's HQ is kind of over there on its own.  Cool building, but it's a little isolated.

Yeah, this is an opportunity to do something interesting on the Banks (and silence the internet forum critics!), instead of the box office building in the renderings. 

 

Yeah, I am criticizing the idea that non-traditional spaces spur creativity.  And the idea that working for a marketing company is glamorous in the least, especially since the idea people likely don't retain their patents/intellectual property.

 

I used to work in a cubicle environment and now work in an open studio/pod setting and I must say, the level of collaboration, interaction, and 'buzz'  around the office is heightened compared to the cubicle setting, which encouraged people to keep more to themselves.  The 'buzz' factor increases excitement - atleast for me. 

^I think they're referring to pedestrian access.  At most downtown offices, you're pretty close to lunch spots and shops.  Dunnhumby's HQ is kind of over there on its own.  Cool building, but it's a little isolated.

 

Fair enough, but hardly a reason to bulldoze a building that just underwent a 10 million dollar renovation.

When is the office portion of the Banks suppose to start? Are they waiting for a big signing such as DunnhumbyUSA?

^I think they're referring to pedestrian access.  At most downtown offices, you're pretty close to lunch spots and shops.  Dunnhumby's HQ is kind of over there on its own.  Cool building, but it's a little isolated.

 

Fair enough, but hardly a reason to bulldoze a building that just underwent a 10 million dollar renovation.

It won't get bulldozed if the preferred ramp configuration for the bridge moves forward. http://www.brentspencebridgecorridor.com/Documents/PAVR/Exhibit%204%20-%20Alternative%20I.pdf

As you can see, the ramp will be moved further north and the building will stay. I think construction around the building will cause a lot of inconvenience though.

 

When is the office portion of the Banks suppose to start? Are they waiting for a big signing such as DunnhumbyUSA?

The office is indeed waiting on a tenant to start construction. I did some comparison and honestly, the Banks is the best site for them in terms of building design configuration,built-in structured parking and proximity to clients.

Why a company that needed that much space and was in the market to move wouldn't snatch up that Banks spot is beyond me. Can't think of a more high profile spot in Cincinnati.

JYP, I know that in both current build alternatives (E & I), the building stays, I was referring to an earlier comment that someone hoped it would get taken down during construction. It's a great work space!

Why a company that needed that much space and was in the market to move wouldn't snatch up that Banks spot is beyond me. Can't think of a more high profile spot in Cincinnati.

 

Saying things like Mason, etc. is just them trying to get even more tax incentives from Cincinnati (even after the millions from two years ago).  I'm sure they also think the Banks is a perfect spot, but want $$

JYP, I know that in both current build alternatives (E & I), the building stays, I was referring to an earlier comment that someone hoped it would get taken down during construction. It's a great work space!

 

Yeah, that building is a hidden gem. I'd be opposed to anyone trying to demo it!!

I was joking about tearing down 444 W. Third.  I truly believe dunnhumby is the only chance for 180 Walnut to be built anytime soon so I mentioned demolition for the bridge project as an excuse to move :)

And the site selection battle has begun!

 

City, county spar over dunnhumby site

 

Written by

Sharon Coolidge and Lisa Bernard-Kuhn

 

DOWNTOWN — Dunnhumby USA's plans to move its headquarters has pitted the city of Cincinnati and Hamilton County against each other in a bid to lure the firm to one of two downtown sites.

 

County officials want the consumer research and insights firm at The Banks, a move officials say will help spur more development at the riverfront community.

 

But city officials have offered a site at the corner of Fifth and Race streets, a prime slice of city-owned real estate long eyed for redevelopment.

The Banks site measures about 120x180 feet, or about 20,000 square feet per floor.  So they would need approximately 15 floors at that site, if their 250,000 announcement is accurate and not a put-on.  The 5th & Race footprint is 4x larger, so much more flexibility.  A parking garage covering the whole site could have 200 spaces per deck.   

Seesh, either of these sites would be great for different reasons. I'd almost like to see them at 5th/Race though since that would spread new development out through downtown. That surface lot there has GOT. TO. GO. what an eyesore.

As much as I would like to see the 5th and Race site developed, I feel it has a better chance of being developed in the near future than The Banks site does so I'd rather see they move to The Banks. Residential space seems like the better use for the 5th and Race site in my opinion. Regardless of where they move, here's to hoping both sites see activity in the near future.

Isn't this an opportune time to fly in our state's chief money-changer ("Kashbox Kasich") to sweeten the deal?  NO, on second thought, maybe that's not such a good idea--after all, we would like dunnhumby to remain in this city.  :roll:

I called a friend at the City:

 

City supports Banks site for Dunnhumby, is NOT pushing 5th & Race but is leaving it on the table as an option, of Dunnhumby says "that's the spot we want". County wants city to take 5th & race off table, city wants to leave as many options available to make sure Dunnhumby stays downtown.

 

Not controversial, just Enquirer strumming up drama.

 

 

 

 

I called a friend at the City:

 

City supports Banks site for Dunnhumby, is NOT pushing 5th & Race but is leaving it on the table as an option, of Dunnhumby says "that's the spot we want". County wants city to take 5th & race off table, city wants to leave as many options available to make sure Dunnhumby stays downtown.

 

Not controversial, just Enquirer strumming up drama.

 

 

 

 

 

that's what I thought too

Ruth's Chris signs lease at The Banks

 

Ruth’s Chris Steak House has signed a lease for a new restaurant at The Banks.

 

Denny Rouse, vice president of real estate and development for Ruth’s Hospitality Group Inc.    , (Nasdaq: RUTH) said the upscale steakhouse chain has signed a lease for about 9,600-square-feet of space. The restaurant plans to open at the end of the third quarter or early fourth quarter of this year.

 

The Banks, an 18-acre development with a first phase that includes 300 apartments and 80,000 square feet of retail space, was what attracted the Heathrow, Fla.-based chain to the Cincinnati market.

 

“The city is behind it, it’s a pretty nice project,” Rouse said. “It’s a good fit for us, with the hotels, offices and three sports venues nearby.”

 

Cont

okay come on, can we get some retail in there FFS?!!?

Good. Maybe this will keep Jeff Ruby's trap closed.