Categories
Business Development News

Promise of Streetcar Driving Occupancy Rates at Hanke Exchange

The owners of The Hanke Exchange – a collection of five buildings in Over-the-Rhine between Reading Road and Michael Bany Way – have announced that Teach for America will open their Cincinnati office at the Jupiter Building at 1110 Main Street.

Teach for America, a non-profit focusing on urban education, will reportedly occupy 4,019 square feet of street-level space.

The property now has an 84% occupancy rate, which stood at a paltry 28% just three years ago, and the Stough Group, which owns the properties; believe they can reach 100% occupancy by the end of the year.

Hanke Building
The Hanke Building’s street level space was more recently used as a headquarters for the Barack Obama campaign. Photograph by Travis Estell for UrbanCincy.

“With regards to our tenants, we like to have a wide range of users, from creative or restaurant contacts to corporate and institutional users due to our access to parking,” explained Scott Stough, Director of Marketing, Stough Group.

The Hanke Exchange not only has direct access to the Parkhaus Garage, but also to a 32-space parking lot behind the 137-year-old Hanke Building on Sycamore Street.

Scott went on to say that the final tenant they are pursuing for the first floor space at the Hanke Building is a “progressive institutional tenant” that is extremely interested in the area and excited about being in such close proximity to the new streetcar.

If that lease works out, it would mark the sixth corporate or institutional tenant to lease space including US Bank, Grifol’s PlasmaCare, Human Capital Institute, and the Stough Development Corporation.

Later this month, the owners say they plan to update the wall painting on the side of 1116 Main Street to reflect the new Hanke Exchange branding. It is a move that the Stough Group hopes will boost visibility as the first phase of the Cincinnati Streetcar is built with a stop right across the street.

“I cannot speculate on property values, but I believe the streetcar is an important first step in developing public transportation for our city’s urban core,” Scott concluded.

Categories
Arts & Entertainment Business News

Market at the Park Brings Pop-Up Shops to Washington Park Every Monday

We’ve all been there. The one day that Findlay Market is closed, we run out of fresh produce, honey, or another edible essential.

Although business hours have expanded to 6pm in recent years, some vendors remain reluctant to stay open later than that. As a result, a group of Findlay Market shoppers have started Findlay After Four – a weekly event that encourages people to shop at Findlay Market on Thursday between 4pm and 6pm.

Until those hours are further expanded at Findlay Market, be sure to get your fix at Market in the Park.

Market at the Park

Every Monday night through September, local vendors will set up pop-up shops featuring a variety of vegetables, tea, baked goods, and ready-to-eat meals in Washington Park From 4pm to 8pm, patrons can do their shopping or grab a hot sandwich, just like they would at Findlay Market.

While some of the vendors operate out of the market house during the rest of the week, others are new to the scene like condiment queens Sheila and Kathy. They will bring their special Kentucky Sauce, Hot Pepper Jelly, and zesty blends of salsa at their Chipotle Chicks booth. Hailing from Falmouth, Kentucky, the pair is excited to bring their southern flare to share with the Over-The-Rhine crowd.

Need to cool off? Try a decadent sea salt caramel gelato from Madison’s or snag an all-natural sno-cone from Chill Shaved Ice Bar, featuring syrups made from real fruit juice.

Food truck notables C’est Cheese and Red Sesame Korean BBQ will fill you up with dinner: a gooey Bee Sting grilled cheese stuffed with pepperoni, mozzarella, honey, and basil, or a kimchi beef burrito with rich Oriental seasoning. Providing that much-needed caffeinated pick me up at the end of the work day, Coffee Emporium will also be on site with iced drinks, lattes, smoothies, and hot coffee.

So whether you’re hungry for a unique happy hour or need a few pantry essentials, grab your grocery list and tell your friends, “Meet me at the Market!”

Categories
Business News

Shoppers Organize New Event to Support Evening Hours at Findlay Market

In 2009, Findlay Market decided to expand its hours of operation and add Sunday hours for the first time. While the addition of the Sunday business has been extremely successful, it has been more challenging for vendors and management to get customers familiar with the idea that the public market is open until 6pm every night.

In order to help grow awareness of this, a group of passionate Findlay Market shoppers have decided to organize what they are calling Findlay After Four.

Shoppers at Findlay Market

The event, which will take place today for the first time, will occur every Thursday from 4pm to 6pm.

“Successful retail today is about having the right in-store activities and promotions to drive loyalty and sales,” explained Karen Kahle, Resource Development Director, Findlay Market. “To support the Findlay After Four shopper campaign, each Thursday we will be offering a variety of activities.”

Kahle says this Thursday’s event will include a cooking demonstration by Julie Francis of Nectar, craft beer at the OTR Biergarten from Christian Moerlein and MadTree, a wine tasting at Market Wines, and free raffle giveaways.

The group of shoppers that have organized the weekly event are encouraging those who attend to bring their friends, family and anyone who wants to join in and support evening hours of operation at Cincinnati’s historic Findlay Market.

“Our goal is to chip away at the perception that the market is not always open until 6:00 and to attract OTR, downtown and uptown workers and residents to the market on weekdays,” Kahle concluded. “We hope you’ll check it out and help spread the word!

Categories
Business News Transportation

Industry Experts Believe a ‘Parking Revolution’ is Sweeping America

In April of this year, members of the International Parking Institute, the world’s largest association representing the parking industry, surveyed parking professionals to determine trends and gain input on parking and related topics.

The survey results found that a “parking revolution” is taking place in the United States, and that the industry is beginning to embrace a variety of new parking solutions.

“The industry is embracing a variety of new technologies that make it easier for people to find and pay for parking, and for parking authorities to better manage it,” the report stated.

Cities identified as leaders in the movement included San Francisco, Portland, New York City, Seattle, Miami, Houston, Boston, Denver, Pittsburgh, Washington D.C., and Tampa.

Emerging Parking Trends

Cincinnati’s recently approved Parking Modernization & Lease Program appears to apply these top trends by moving toward technologies that improve access control, payment automation, and real-time communication of pricing and availability to user’s mobile devices.

These kinds of features are the new standard being implemented around the country, and are provided by Cincinnati’s lease agreement.

Parking professionals were also asked to identify the ten most progressive municipal parking programs in the United States, with San Francisco’s SFpark named most innovative.

“The SFpark pilot project provides real-time information on parking availability and cost; reduces double parking, circling, and congestion; and improves parking ease and convenience,” the report stated. “A high-caliber data management tool allows the San Francisco County Transportation Authority to make rate-change recommendations, supply real-time data, maintain optimum operational and contractual control, and rigorously evaluate the pilot’s various components.”

Respondents also said that SFpark was particularly bold in requiring city and government employees to pay for parking in order to bolster the program’s credibility before asking voters to consider sweeping changes in parking management.

Of particular interest is SFpark’s on-street rate adjustment policy.

Prior to the changes, rate adjustments were made during the budget-planning process. The goal with the pilot program is to take a demand-based approach in order to achieve parking availability targets in a consistent, simple and transparent manner.

Prior to the program, rates in downtown were $3.50/hour, $3.00/hour in the downtown periphery and $2.00/hour in neighborhood commercial districts, and were operational mostly from 7am to 6pm or 9am to 6pm Monday through Saturday. As part of the pilot program, demand responsive time-of-day pricing is split into three distinct rate periods: 9am to 12pm, 12pm to 3pm, and 3pm to 6pm for 9am to 6pm spaces.

These demand-responsive rate changes are made gradually, no more than once per month, and periodically near the first of the month based on occupancy in the previous month.

In order to maintain at least one parking space per block, 80% space occupancy is desired with rates increased when occupancy is greater than 80%, held constant at 60% to 80% and decreased with less than 60% occupancy on a per-block basis to more effectively redistribute parking demand.

In order to help users from having to cut trips short or risk parking tickets, time limits in the pilot areas were lengthened from 30 minutes/two hours to four hours/no limit.

Cincinnati’s program, meanwhile, will provide for public rate control and expanded hours of operation from 8am to 9pm in the Central Business District and 7am to 9pm in neighborhoods. The plan will also allow for limited $0.25 incremental rate increases, but there does not appear to be provisions for demand responsive time of day pricing, a target on-street block occupancy amount, or lengthened or eliminated time limits.

In addition to new technologies, the report indicates that parking is becoming more than just a place to store cars, and is instead moving towards more integrated forms of transportation planning – something that has also taken place locally through new bicycle parking provisions and parking requirement restructuring.

“Today, parking is about so much more than storing cars,” concluded Shawn Conrad, executive director for the International Parking Institute. “It’s central to the creation of livable, walkable communities. It’s about cars, bikes, mass transit, mobility, and connecting people to places.”

Categories
Business Development News Transportation

Design Options for $2.7B Brent Spence Bridge Project Narrowed

The Federal Highway Administration (FHWA) issued a “Finding of No Significant Impact” (FONSI) for the $2.7 billion Brent Spence Bridge Replacement & Rehabilitation project last August.

The finding means that the project can move forward to its next phase of work with the current proposed alignment, which is not expected to change much from this point. The alignment included in the FONSI includes a number of interesting features different from what exists on the site today.

Consolidated Footprint:
One of the most notable pieces of the plan is a consolidated footprint. While it still includes a web of ramps at the southwestern edge of the central business district, the project does eliminate a flyover ramp currently not in use, and consolidates the existing footprint of ramps leading to the new and existing bridge, and Fort Washington Way.

The approved alignment also preserves the existing dunnhumbyUSA building that was thought to be in the way for the rebuilt interstate network.

A final, and perhaps the most significant, result of the consolidated footprint is additional land along Central Avenue in between Fourth Street and Sixth Street.

This land could be used for one of a number of things, but there is currently the Cincinnati Fire Fighters Memorial at the corner of Fifth Street and Central Avenue, which could be moved south one block across the street from the Company 14 and Fire Headquarters building, and allow for the long-desired expansion of the Duke Energy Convention Center.

Leadership at the Cincinnati USA Convention & Visitors Bureau declined to comment on any plans to expand the convention center until plans are finalized for the Brent Spence Bridge project, and the agency has time to review them.

The alternatives moving forward also call for a portion of historic Longworth Hall to be demolished to make room for the new bridge. Additionally, the existing Duke Energy Substation will need to be relocated, which project officials say has already been discussed with the energy provider.

Brent Spence Bridge Design Alternative 1 Brent Spence Bridge Design Alternative 2
Design Alternative 1 [LEFT] would appear similar to the ‘Big Mac’ Bridge upriver, while Design Alternative 2 [RIGHT] would introduce a two-tower, cable-stayed bridge to the Cincinnati waterfront. Renderings provided.

Architectural Design:
While separate from the issued FONSI, project officials have also narrowed down the design options for the bridge itself. Perhaps the most eye-catching of the options, the single-tower cable-stayed bridge ($646 million), has been eliminated due to its higher safety and engineering risks.

What is left is the arch bridge design ($571 million), similar to the Daniel Carter Beard ‘Big Mac’ Bridge, and the double-tower cable-stayed bridge ($669 million). Both, officials say, would have fewer risks involved and would allow the project to move forward on a more predictable schedule.

Next Stages:
Project officials are currently finalizing action plans based on the Began Value for Money (VfM) study, and hope to begin the necessary right-of-way acquisition process this year.

Should the States of Ohio and Kentucky choose to pursue a public-private partnership (P3) financing model; officials say that they will issue an RFP for that sometime next year. Construction could begin as early as 2015 if the current schedule continues to be met.