Restoring grandeur to Cincinnati's Phelps apartments

Historic building will get $10M face-lift by Eagle Realty, could become hotel

Business Courier of Cincinnati - by Dan Monk Senior Staff Reporter

 

Eagle Realty Group is planning a $10 million-plus renovation of the historic Phelps apartment building and might convert the Lytle Park property into a hotel.

 

http://cincinnati.bizjournals.com/cincinnati/stories/2009/12/07/story1.html

I really hope that they don’t turn this into a hotel. There is a desperate need for nice updated downtown apartments. If they do go with the hotel here I hope that the Bartlett Building is converted into apartments. . My girlfriend and I are moving back in May and have been looking for apartments downtown, while she gets to know the city. Downtown is very low on apartments. Most of them look like they haven’t been updated since they were built or rehabbed in the early 90’s. The old Enquire Building redevelopment seems to have stalled and it would be exactly what we are looking for. I know that Town Properties has done a few, but the selection is still fairly limited.

There is a need for more hotels in CBD but between the Banks, Bartlett, Metropole and now this, there will probably be too many higher end hotels.  I highly doubt all four will be hotels.  Perhaps it's a first come first serve and whoever takes the longest will choose apartments/condos instead.

Here is an updated link with the full article.......

 

http://cincinnati.bizjournals.com/cincinnati/stories/2009/12/07/story1.html

Only problem is, the Phelps needs a complete gutting to even bring it back up to code. I am well versed with this property. There are quite a lot of units that are not even rentable because they cannot receive adequate services due to substandard piping and electrical systems. For instance, if there are six units in a 'stack,' two of those units are not even rentable because it puts too much stain on the overall network. The building just isn't able to handle the demands of today's needs. That and it is riddled with asbestos...

 

After all that is said and done, the costs of restoration will prohibit rentals due to the very high cost. Condos or hotels is what is going to sell it...

Phelps could become luxury hotel

By Lisa Bernard-Kuhn, Cincinnati Enquirer, December 17, 2009

 

DOWNTOWN - The Phelps Apartment building is poised for a more than $15 million makeover that could transform the historic property into a luxury hotel for visitors making extended stays.

 

Eagle Realty Group says it's about 30 to 60 days away from finalizing its plans for the 137-unit apartment building. In August the firm informed residents that it is planning a major renovation at the property and would not be renewing leases.

I'm not terribly opposed to this, but the location right on Lytle Park is a beautiful residential spot.  I'm also a bit worried that we're taking steps backwards in terms of creating a more 24-hour downtown.  The loss of full-time residents at the Metropole and at The Phelps will mean several hundred fewer downtown residents.

 

We need to have the Enquirer and Bartlett buildings converted to apartments to help fill the void left behind by these two conversions.  If that happens, then this whole shuffle will be a very healthy process in my opinion, but until then, we're losing what limited residential population we have downtown now for the commercial success that has been experienced.  We need to be able to do both.

^Or reasonable condos.  When I was in the market 5 years ago, I could never find anything in the CBD that was <$200k and not a total wreck.

I'm not terribly opposed to this, but the location right on Lytle Park is a beautiful residential spot.

 

I agree.  I think that area is a great residential area.  I cannot picture a hotel there.

I'd prefer the number of permanent residents in the Lytle Park area to increase, not decrease.  So I'm definitely in favor of apartments or residential condos.

 

A luxury hotel could be nice, but the phrases "extended stay" and "luxury hotel" seldom (if ever) go together.

A luxury hotel could be nice, but the phrases "extended stay" and "luxury hotel" seldom (if ever) go together.

 

Many business class hotels are of the extended stay variety.  I personally wouldn't consider a Mariott to be "luxury" but at the same time it is quite nice and features higher end amenities for its guests.

The regular Marriott brand is pretty luxurious, at least the one's I've stayed in.  The Courtyard, Spring Hill Suites and others are not, but the plain old Marriott's are very, very nice.

Residence Inn (another Marriott brand) is also pretty nice, and fits the "extended stay" idea. If the building must be a hotel, then Residence Inn would be a good fit for the neighborhood.

I think this conversion would be a bad idea.  This is a terrible place for a hotel- Lytle Park should remain residential.  Aside from messing with the character of the area, it also doesn't really do very much for the potential hotel patrons, either.  It may be close to P&G (which is the ostensible client of the hotel) but it isn't particularly close to the heart of downtown activity.  In addition, we've got a great hotel that isn't even being used (the Terrace on 6th and Vine.)  Obviously one can't do much if W&S buys the building outright and pays for the renovations, but I just hope the City doesn't give them any money for this.

 

Hell, if they want to build a Hotel close to P&G they shoud buy that parking lot at the corner of 5th & Broadway and build it there.

The regular Marriott brand is pretty luxurious, at least the one's I've stayed in.  The Courtyard, Spring Hill Suites and others are not, but the plain old Marriott's are very, very nice.

 

No, Marriott's luxury brands are the JW Marriott & Ritz-Carlton.  In addition, select Marriott Marquis and Renaissance properties are luxury.

 

I guess what should be asked is, what is your definition of "luxury"?

Apt. building may become 134-room hotel

By Lisa Bernard-Kuhn, Cincinnati Enquirer | January 11, 2010

 

Plans to transform the Phelps Apartment building into a 134-room extended stay luxury hotel are hinging on a proposal slated to go before Cincinnati City Council Wednesday.  Eagle Realty Group, a division of downtown-based Western and Southern Financial Group, had previously said it's working on a plan to renovate the historic 12-story building on East Fourth Street into a hotel that would carry the Marriott flag.

 

This week, council is expected to consider a proposal that would provide a 12-year property tax abatement on the improved value of the building, once an estimated $9.6 million renovation is completed by Eagle.  Eagle president Mario San Marco has said the local tax incentive is a key to making the project a reality. Eagle is also perusing incentives under Ohio's Historic Preservation Tax Credit program, which provides building owners a state tax credit on improvements made to historic buildings.

 

Read full article here:

http://news.cincinnati.com/article/20100111/BIZ01/1120308/1055/NEWS/Apt.+building+may+become+hotel

Looks like this project is happening, they are going to start gutting it this week.

This is a really lovely building.  Looking forward to it.

The regular Marriott brand is pretty luxurious, at least the one's I've stayed in. The Courtyard, Spring Hill Suites and others are not, but the plain old Marriott's are very, very nice.

 

No, Marriott's luxury brands are the JW Marriott & Ritz-Carlton. In addition, select Marriott Marquis and Renaissance properties are luxury.

 

I guess what should be asked is, what is your definition of "luxury"?

 

The plain old Marriott brand hotels I've stay at were very nice. Much nicer than the Renaissance's that I've stayed at.  And I've travel quite a bit.  The Marriott's rooms were much nicer, nicer lounge areas, have concierge levels, and very nice restaurants inside them such as a Schula's steakhouse.

I just got back from doing some removal work in The Phelps for Habitat for Humanity.  By the rooms I visited, I would say 20% very nice, 40% OK, 40% needing major updating and cosmetic work, and 20% hadn't been touched in 20+ years.  In speaking with the owner/managers, this was due to tenants that moved in during the 60s and 70s and never moved or requested new appliances, carpet, etc. or wouldn't even let management in the space in some cases.  Believe me when I say a gut rehab is the only way this building was going to get a viable new life, should be pretty sweet when it's done.

 

Pics to follow soon.

Well, others could not be rented out period because it would cause too much strain on the systems in place in the Phelps.

Residence Inn slated for Phelps Building

Business Courier of Cincinnati

 

 

The former Phelps apartments downtown will become a Residence Inn by Marriott, Eagle Realty said Tuesday.

 

Construction already has begun on the 84-year-old building across from Lytle Park, according to a news release. It is expected to open in April 2011.

 

http://cincinnati.bizjournals.com/cincinnati/stories/2010/03/29/daily23.html

Called it!

Gutting of the building began in late January. There is no electricity to the building, and the first floor is all but sealed (literally). A dumpster is in the back, and there are some interesting, older items (elevator motors?) on the loading dock.

Most excellent news!

Cincinnati Enquirer article on the Phelps.

 

New downtown hotel to be Residence Inn

By Lisa Bernard-Kuhn, Cincinnati Enquirer, March 30, 2010

 

A historic downtown apartment building, The Phelps on Fourth Street, will be remade into a Residence Inn by Marriott under a plan by Eagle Realty Group.

 

The 134-room hotel will be named the Residence Inn Cincinnati Downtown - and include one- and two-bedroom, residential-style suites.

Oh well.  So much for "luxury".

 

I have to say I'm disappointed in the sudden drop in residential density that this transition brings around Lytle Park

By the rooms I visited, I would say 20% very nice, 40% OK, 40% needing major updating and cosmetic work, and 20% hadn't been touched in 20+ years. In speaking with the owner/managers, this was due to tenants that moved in during the 60s and 70s and never moved or requested new appliances, carpet, etc.

 

I just wanted to say that I just had an "OMG" moment when the math wasn't making sense to me for some reason, and I realized that the 1960's is now conceivably fifty years ago. Scary.

 

@Alabama: Cincinnati doesn't strike me as having a pent-up demand for more trendy, luxury rooms, especially when the Metropole gets redone. And who knows what will eventually go into the Banks. As it nears completion, assuming the economy recovers and doesn't totally collapse, the Banks would strike me as the place to put a trendy hotel...or even OTR, one day. (IE, there's a W in the French Quarter.)

No arguments about need.

 

My comment was just me eye-rolling over the whole "luxury hotel" comments in the early stories when WS probably knew all along that it would be a residence inn.

 

Looking at the bright side.  I can stick visitors in there when I don't want them in my guest room ;-)

Noticed "Residence Inn" signage on the northeast corner last night then went by this morning and the front entrance steps appear to be complete. Pepsi truck delivering equipment. I believe they have an April opening date?

^

March according to their website.

^

March according to their website.

 

April according to the sign in front of the building

May according to my mom, but late February according to my brother-in-law. 

New hotel ready to debut downtown

10:22 PM, Mar. 11, 2011

Written by

Lisa Bernard-Kuhn

[email protected]

 

 

DOWNTOWN - When the incoming Residence Inn by Marriott on Fourth Street opens this month - it will mark the first new hotel to open downtown in nearly 30 years.

 

Located in the former Phelps Apartments in the Lytle Park historic district, the 134-room hotel is a more than $10 million undertaking by downtown-based Eagle Realty Group, a division of Western & Southern Financial Group.

 

http://news.cincinnati.com/article/20110312/BIZ01/103120345/New-hotel-ready-debut?odyssey=tab|topnews|text|News

^ WOW!!!

Looks like they did a pretty good job on that. 

New downtown Cincinnati hotel to open March 30

 

The Residence Inn at the Phelps, the newest hotel in downtown Cincinnati, is scheduled to open March 30.

 

The new hotel, which features 134 one- and two-bedroom residential-style suites, will be the first Marriott branded hotel to open downtown. Each suite features separate living and working spaces, a fully equipped kitchen, flat-screen HD TVs and a work desk

 

 

 

Time to move this thread to completed project!  :clap:

 

 

Downtown hotel opens

12:58 PM, Mar. 30, 2011 - Enquirer staff report

 

Executives from Western & Southern Financial Group, Eagle Realty Group and Winegardner & Hammons celebrated the opening of the Residence Inn at the Phelps on Wednesday.

 

It's the first Marriott branded hotel to open in downtown Cincinnati.

 

“The opening of the Residence Inn at the Phelps is yet another piece of our plan and commitment to make the eastern corner of downtown a very exciting place to work and live,” said John F. Barrett, chairman, president and chief executive officer of Western & Southern in a statement.

 

cont

EXCLUSIVE: Second rooftop terrace coming to downtown Cincinnati hotel

Oct 6, 2014, 1:40pm EDT

Tom Demeropolis and Steve Watkins Cincinnati Business Courier

 

 

Top of the Park, the rooftop terrace at the Marriott Residence Inn Cincinnati Downtown at the Phelps, has been so popular that an expansion is in the works.

 

Eagle Realty Group, the real estate arm of Western & Southern Financial Group, and Winegardner & Hammons Inc., which manages the 134-suite hotel, are working on an expansion that will nearly double the amount of rooftop event space.

 

http://www.bizjournals.com/cincinnati/news/2014/10/06/exclusive-second-rooftop-terrace-coming-to.html