December 22, 200915 yr Bank of America names Kenwood Towne Place receiver By Dan Monk, Business Courier of Cincinnati, December 21, 2009 Kenwood Towne Place has a new receiver in place and up to $1.7 million for repairs ordered by Hamilton County’s building commissioner. That’s the word from Mike Batchelor, general manager of Mitchell’s Salon and Day Spa, who attended a half-day hearing in Hamilton County Common Pleas Court. Judge Beth Myers agreed to let attorney Hank Menninger step down as the day-to-day manager of the half-finished Kenwood project, where construction crews walked off the job a year ago and the Bank of America sued for foreclosure in June.
December 29, 200915 yr Towne Place permits extended into '10 The Enquirer • December 28, 2009 Hamilton County's building department has extended through 2010 the temporary occupancy permits for the five retail tenants operating at the half finished Kenwood Towne Place complex in Sycamore Township. The permits were set to expire Jan. 4, 2010. http://news.cincinnati.com/article/20091228/BIZ01/912290333/Towne+Place+permits+extended+into++10
January 2, 201015 yr Kenwood Towne Place retailers will remain open Business Courier of Cincinnati, December 29, 2009 Retailers at Kenwood Towne Place will remain open through 2010, thanks to new temporary certifications of occupancy issued by the Hamilton County Department of Building Inspections. The move comes after Frank Hertge, a former Jones Lang LaSalle executive, was appointed the project’s new receiver Dec. 21 and Bank of America agreed to loan $1.7 million for repairs to the unfinished development’s fire alarm and sprinkler systems and make other fixes to address health and safety concerns.
January 27, 201015 yr Wow, I had no idea about this mess! I was there in April and enjoyed the Container Store/Crate & Barrel stores connected to one another and the Kroger seemed nice. The maze of highways right there seems somewhat urban to me if you get the right angle to it, but anyway...what is going on with the floors above the retail? Was all that going to be residential/office? Any renderings? What a mess! I hope it works out...if it doesn't work out, they can always move into the Banks downtown.
January 28, 201015 yr This thing is rusting bad. Im sure they will have to sand blast the rust off before they can finish this thing.
January 28, 201015 yr I can try to get some over the weekend. Where it was not weatherproofed, towards the top, it is rusting and streaking down on the existing facade panels that were installed. Heck, the complex was nearly closed down in December and January because of serious fire code violations.
January 28, 201015 yr I can try to get some over the weekend. Where it was not weatherproofed, towards the top, it is rusting and streaking down on the existing facade panels that were installed. Heck, the complex was nearly closed down in December and January because of serious fire code violations. Wow, I'm going to have to stop by Kenwood next time I'm down there. What a colossal failure. I hope it gets finished soon. Whoever said "good thing this isn't downtown" was right!
January 29, 201015 yr Kenwood Towne Place project in talks Settlement being discussed in advance of key Feb. 12 hearing By Dan Monk, Cincinnati Business Courier | January 29, 2010 The new year has brought a new wave of settlement talks in the Kenwood Towne Place case, increasing hopes among local contractors that the months-old legal quagmire might soon be resolved. The latest settlement attempt, according to sources, involves an investor who would take ownership of the half-finished construction project, paying off liens held by construction companies and paying off debt held by a consortium of banks that financed the project. So far, the talks do not include the Bank of America, which sued to foreclose on the 585,000-square-foot mixed-use project in May 2009. “We understand it is a local buyer,” said one contractor, who asked not to be identified because talks are at a sensitive stage. Read full article here: http://cincinnati.bizjournals.com/cincinnati/stories/2010/02/01/story4.html
March 17, 201015 yr Port out of part of Towne Place claims By Laura Baverman • [email protected] • March 16, 2010 A Hamilton County judge on Tuesday dismissed a handful of claims against the Port of Greater Cincinnati Development Authority in the foreclosure case involving the half-complete Kenwood Towne Place development in Sycamore Township. The port, funded by the city of Cincinnati and Hamilton County, provided $22 million in revenue bonds to fund the public garage on which the half-built 550,000-square-foot structure sits. Kenwood Towne Place LLC (KTP) and Bear Creek Construction had a contract with the public agency to build the garage. http://news.cincinnati.com/article/20100316/BIZ01/3170366/1055/NEWS/Port+out+of+part+of+Towne+Place+claims
April 16, 201015 yr Towne Place settlement proposed By Laura Baverman, Cincinnati Enquirer, April 16, 2010 Bank of America lawyers said Friday that they received a proposal in the last week to settle claims brought by investors in Kenwood Towne Place, the half-finished office and retail complex in Sycamore Township. Mark Vander Laan, the Dinsmore & Shohl attorney representing investors in Kenwood Towne Place LLC, said discussions have occurred, but offered no details. Other settlements have been offered throughout the past 11 months since Bank of America filed for foreclosure on the property. None of those deals have been accepted.
May 17, 201015 yr Kroger Fresh Fare closing May 30. In related news, the entire complex may close in less than seven months due to major fire code violations.
May 17, 201015 yr What an absolute failure of a project. A boondoggle if you will. Time for The Container Store and Crate & Barrel to sign on as the first Banks tenants! "It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton
May 17, 201015 yr Unreal...just unreal. Honestly though, good for Kroger for just saying "enough is enough"... That whole place is a disaster...parking and overall congestion being a major issue, besides everything else happening behind the scenes there. FAIL!!!!!!
May 17, 201015 yr ^Hopefully they will. I'd hate to see C&B pull out of the Cincinnati market completely.
May 17, 201015 yr I hope they don't knock it down. Someone went through the trouble of getting the entitlements, might as well use them.
May 17, 201015 yr Didn't Kroger have a store on that site before the Kenwood Towne Place project was built? I think I stood in line behind Marge Schott at the old Kenwood Kroger's once. I'd love to see an urban-scaled Kroger (as well as Crate & Barrel and maybe the Container Store) move into the Banks project.
May 17, 201015 yr Didn't Kroger have a store on that site before the Kenwood Towne Place project was built? I think I stood in line behind Marge Schott at the old Kenwood Kroger's once. yes
May 17, 201015 yr The comments in the Enquirer article are HILARIOUS. Kroger closing in Kenwood Towne Place By Laura Baverman, Cincinnati Enquirer, May 17, 2010 The Kroger Fresh Fare in Kenwood Towne Place is closing May 30. Geoff Covert, president of Kroger’s Cincinnati/Dayton division, said Kroger had to close the store because of Kenwood Towne Place LLC’s failure to complete the project. Kroger Co. officials called the move unprecedented. The company has never closed a new store and has never experience the kind of litigation involved in the partially completed retail/office project before, spokeswoman Meghan Glynn said. == Kroger To Close Kenwood Fresh Fare Store Kentucky Post, 1:43 PM May 17, 2010 SYCAMORE TWP., Ohio -- Due to the failure of Kenwood Towne Place to complete the retail and office project, Kroger has decided to close its Fresh Fare store in Sycamore Township. Kroger announced Monday that its Fresh Fare store on Montgomery Road in Kenwood will be closing on May 30. (...) Kroger says they based its decision to invest in the location on expected customer traffic from the surrounding 7-story office and retail complex that the developer promised but never completed.
May 17, 201015 yr I'd love to see an urban-scaled Kroger (as well as Crate & Barrel and maybe the Container Store) move into the Banks project. this would be major WIN. I would love to see this happen too.
May 17, 201015 yr ^I'm not sure what exactly is so funny about the comments. Was it the making fun of the plight of poor Roselawn residents, or is it just funny that there is a ugly, rusting, un-finished tower in one of Greater Cincinnati's most visited and marquis areas? I wish this tower would just get completed already. I do like the idea of bringing Crate and Barrel to The Banks. Although I do wonder how the store would do in that location.
May 17, 201015 yr I'd guess Sycamore Crossing could make a play for any of the stores at Kenwood Place (it currently has a couple prominent vacancies - the old Linens' and Things and the shoe store). KTC might be able to squeeze one in if they wanted to. The other possibility would be if the folks in Norwood could get the development across from Rookwood going, they could poach some of these. The building folks will know whether this is actually salvageable in this condition.
May 17, 201015 yr ^I'm not sure what exactly is so funny about the comments. Was it the making fun of the plight of poor Roselawn residents The sarcasm in the comments. This creates the same "food desert" that will exist when the Roselawn store closes, with the same approximate mileage and distance. But Kenwood, being in Sycamore Twp. and not in Cincinnati, is apparently isolated from the hoards of complaints that dogged Roselawn. Yeah, people in Kenwood may drive more, but it's not as if Roselawn is transportation independent; bus lines serve other Kroger locations from the soon-to-be-closed location. These are business decisions based on market realities. Kroger wasn't able to sustain a high enough profit to maintain operations here, and is afraid of future costs that could be incurred if this location is continued to deteriorate. The office tower wasn't completed, all but killing its bistro and coffee shop, and it's not as easily accessible from Kenwood Towne Centre as some were expecting. There was little cross traffic between the two centers unless you drove, given a lack of pedestrian connection. At least the township is (so far) staying out of this one.
May 17, 201015 yr The comments in the Enquirer article are HILARIOUS. Honestly they are childish. Embarrassing for the region to see people act like this. As if no professionals live here.
May 17, 201015 yr ^I'm not sure what exactly is so funny about the comments. Was it the making fun of the plight of poor Roselawn residents The sarcasm in the comments. This creates the same "food desert" that will exist when the Roselawn store closes, with the same approximate mileage and distance. But Kenwood, being in Sycamore Twp. and not in Cincinnati, is apparently isolated from the hoards of complaints that dogged Roselawn. Yeah, people in Kenwood may drive more, but it's not as if Roselawn is transportation independent; bus lines serve other Kroger locations from the soon-to-be-closed location. You're either kidding or you don't know the Kenwood area very well. There is a Trader Joes and a Fresh Market both literally right across the street from Kenwood Towne Centre. Deer Park Residents have the IGA, Blue Ash has Pipkins for produce and a huge Kroger, Pleasant Ridge has Biggs, Montgomery has a Kroger, Maderia has a Kroger and a farmers market, Mariemont has a Kroger.
May 17, 201015 yr People are very brand-oriented, especially when it comes to groceries. When a Kroger store closes, people are going to travel 3, 4 or 5 miles to that next available Kroger, not necessarily to Trader Joe's. Quite frankly, Trader Joe's can't even begin to handle the volume that Kroger's served, and Fresh Market is a specialty grocery store that doesn't carry a full line of products. Whole Foods is nearby and caters to a higher-incomed group, but not all who are high income will shop organic; plus, Whole Foods does not carry a full line of items either.
May 17, 201015 yr I'm not aware of a near by Whole Foods, unless you mean the one in Rookwood? Because no one (or almost no one) actually lives in Kenwood, all the neighborhoods surrounding the Kenwood area are served by a Kroger or an IGA in the case of Deer Park. Besides, the population neighboring Kenwood is pretty wealthy, and I think Trader Joes and Fresh Market are viable options for groceries for many people. The Kroger in Kenwood was a "Fresh Fare" concept, and was smaller and more of a boutique store akin to Trader Joes, Whole Foods, and Fresh Market. There is definitely NOT a food desert in the Kenwood area.
May 17, 201015 yr The Kroger in Kenwood is a Fresh Fare, meaning it is more upscale and it doesn't carry certain brands (e.g. their deli is only Boar's Head; the Value brand), but it carries a full range of products like every other Marketplace or regular Kroger's. Here is a Kroger lineage: * Regular Kroger stores, which are rarely being built but in the smallest markets; * Marketplace Kroger stores, which when they first debuted, had more selections and boasted a bigger frozen good selection. One of the earliest Marketplaces opened in Lexington, Ky. and had kitchenware, and a sushi preparation area. Most Marketplaces now boast more than that, and one even boasts furniture and houseware selections (Newport, Ky.); * Fresh Fare Kroger stores, which feature the selections of a regular Kroger store, plus upscale amenities, like a cheese shop, Boar's Head deli only, dry aged beefs, a bistro, coffee shop, et. al. These are not necessarily meant to compete with any other type of Kroger store.
May 18, 201015 yr I really liked that new Kenwood Kroger. I'm sad. :( If they open one at the Banks, I'll be happy. :)
May 18, 201015 yr I really liked that new Kenwood Kroger. I'm sad. :( If they open one at the Banks, I'll be happy. :) Just my two cents, but I don't think putting a Kroger in the first phase of the Banks would be the best choice. Since it's such a high-profile project, it should be geared towards those coming down for Reds games and everyone else in the Cincinnati area, many of whom are notoriously skeptical of the project. Fill the first phase with great entertainment and restaurant options, making it a rousing success, and cater to the residents of the Banks and downtown in the coming years. That said, I love the Fresh Fare concept. It's a shame to see this Kroger store go, but I don't think it'll have to much of an impact on the store's targeted customers. Sycamore Township, tear down this Centre! (or actually finish it).
May 18, 201015 yr There wouldn't be enough residents in this phase to support a new Kroger's, especially something larger than the one on Vine Street. I think that once total build out occurs, Kroger may move in, but they are going to be pretty skeptical after what has happened at Kenwood Towne Place.
May 18, 201015 yr Kroger Fresh Fare closing May 30. In related news, the entire complex may close in less than seven months due to major fire code violations. Thanks a lot, Obama.
May 18, 201015 yr There wouldn't be enough residents in this phase to support a new Kroger's, especially something larger than the one on Vine Street. I think that once total build out occurs, Kroger may move in, but they are going to be pretty skeptical after what has happened at Kenwood Towne Place. Ahhh sorry guys I meant just any Kroger, not necessarily the big fancy one. I don't think Kroger HQ is connecting what happened in Kenwood to downtown Cincy. They won't be skeptical because of that. For what it's worth, I'm very bullish on urban grocers. I've seen them work in many different types and sizes of downtowns. Cincinnati has no excuse. It really doesn't. And the Vine Kroger is a red headed stepchild, I don't even count it. For now.
May 21, 201015 yr Kroger Fresh Fare closing May 30. In related news, the entire complex may close in less than seven months due to major fire code violations. Thanks a lot, Obama. That's a dead-on Enquirer comment! lol
May 23, 201015 yr The Kroger in Kenwood is a Fresh Fare, meaning it is more upscale and it doesn't carry certain brands (e.g. their deli is only Boar's Head; the Value brand), but it carries a full range of products like every other Marketplace or regular Kroger's. Here is a Kroger lineage: I say good riddance.
June 12, 201015 yr Bank of America sues Bear Creek's Matt Daniels and Tim Baird Business Courier of Cincinnati - by Jon Newberry Staff Reporter Having already sued to foreclose on numerous Bear Creek Capital projects in recent months, Bank of America is now going after the group’s principals in federal court. The bank sued Bear Creek founders Matt Daniels and Tim Baird in U.S. District Court in Cincinnati on June 1, citing their personal guarantees of eight loans made to various development entities. The loans were issued from 2004 to 2007 by LaSalle Bank, which Bank of America acquired in 2007. http://cincinnati.bizjournals.com/cincinnati/stories/2010/06/14/story4.html
August 21, 201014 yr Judge ends some claims in Kenwood Towne Place fight By Lisa Bernard-Kuhn • [email protected] • August 20, 2010 A Hamilton County Common Pleas Court judge Friday dismissed some of the claims in the lingering court battle over the half-finished Kenwood Towne Place but ruled that other claims could continue. Judge Beth A. Myers granted a motion to dismiss claims against Bank of America by eight subcontractors, who had charged the project's chief lender was unjustly enriched by their work on the Sycamore Township complex. http://news.cincinnati.com/article/20100820/BIZ01/8210351/1055/NEWS/Claims-nixed-in-Towne-Place-fight
November 5, 201014 yr Kenwood Towne Place developer alleges 'smear' campaign Business Courier - by Dan Monk Date: Wednesday, November 3, 2010, 2:35pm EDT Developer Matt Daniels claims in a new court filing that his former partners at Kenwood Towne Place conducted a smear campaign against him and sabotaged settlement attempts so they could avoid paying on personal guarantees pledged to the project. http://www.bizjournals.com/cincinnati/news/2010/11/03/kenwood-towne-place-develoepr-allages.html
December 21, 201014 yr I saw people working on the outside of this complex this past afternoon. They were installing some tyvek insulation or something.
December 21, 201014 yr ^ I saw that too. Seems like it might simply be an attempt to water tight a portion of the building that is probably leaking into one of the occupied retail spaces.
December 22, 201014 yr Does anyone know the current status of this project? I've seen the crane swiveling a few times (I guess to keep it from rusting in place :lol:), but other than that, no progress. I'm pretty much clueless when it comes to construction, but it seems like with the structure just sitting there, it will require some repairs just to resume the project.
January 4, 201114 yr This project is so doomed. This really should be in the abandoned section. Because it really has.
January 4, 201114 yr Kenwood Towne Place deal dies By Laura Baverman • [email protected] • January 3, 2011 Bank of America has denied a $19.4 million funding request from four potential tenants who had signed letters of intent to locate at the half-complete Kenwood Towne Place retail and office project in Sycamore Township. According to documents filed in court by receiver Frank Hartge on Dec. 23, the four retailers, all un-named, had requested that the building’s facade, its atrium and common areas be completed before they moved in. http://news.cincinnati.com/article/20110103/BIZ01/301030034/1055/NEWS/Kenwood-Towne-Place-deal-dies
January 4, 201114 yr This project is so doomed. This really should be in the abandoned section. Because it really has. Makes sense until they figure out what they want to do with it. “All truly great thoughts are conceived while walking.” -Friedrich Nietzsche
February 4, 201114 yr Hope this guy enjoys life before he goes to jail! Kenwood Towne Place developer Daniels reels one in Business Courier - by Dan Monk Date: Friday, February 4, 2011, 9:45am EST - Last Modified: Friday, February 4, 2011, 10:00am EST Unholy Mackerel? We're guessing that will be the reaction of local contractors when they learn that Matt Daniels won a fishing trophy in the Florida Keys recently. http://www.bizjournals.com/cincinnati/blog/2011/02/kenwood-towne-place-daniels-developer.html
Create an account or sign in to comment