Category: Development

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Business Development News

Oscar Bedolla Looking to ‘Rally the Troops’ and Streamline Department in New Role

Nearly four months into his new job, Cincinnati Department of Trade & Development Director Oscar Bedolla says that his department is already working to streamline its services to continue to grow confidence that Cincinnati is “open for business.”

His remarks came yesterday afternoon at Horseshoe Casino Cincinnati during a luncheon held by CREW Greater Cincinnati, a professional organization dedicated to providing growth and networking opportunities for people in the commercial real estate industry.

Bedolla came to Cincinnati from New York City, where he served as a vice president in KPMG’s Advisory Practice. In that role, he specialized in project finance and public-private partnerships. He now leads a department with an annual budget of $50 million and approximately 100 employees, who are charged with managing everything from large-scale development projects and housing to human services and the City’s parking assets.

So far his biggest challenge has been rallying the troops and getting everybody on the same page, saying, “People get stuck in a rut and don’t realize that we have to continue to build confidence in the [Cincinnati] market.”

To build that confidence and share it with potential investors, Bedolla said he is building a highly professional staff that understands both the public and private sectors, with a foundation built upon collaboration and innovation sharing.

“The cities I have worked with that have done well are the ones who have implemented things like CitiStat,” Bedolla said, referring to the real-time, data-driven city department performance program developed 15 years ago in Baltimore and soon to be brought here through the City’s new Office of Performance & Data Analytics.

Once that has been accomplished, he says that the real work can begin on the two major areas where he sees opportunity for Cincinnati: capturing and leveraging foreign direct investment, and increasing manufacturing productivity by taking advantage of the City’s legacy infrastructure.

“Cincinnati, with its location, is uniquely placed to be a much larger economy than it is right now,” Bedolla told the group of approximately 75 people who attended the luncheon. “We could see an influx of capital into mature markets [like Cincinnati] if Cincinnati brands itself.”

The next CREW Greater Cincinnati luncheon will once again be held at Horseshoe Casino Cincinnati, and will take place on Tuesday, April 14. Registration is not yet open.

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Development News

PHOTOS: Construction Updates From Along the Mighty Ohio River

Phase Two Construction at The Banks [Jake Mecklenborg]

Both sides of the Ohio River are full of construction right now. In Cincinnati, General Electric’s new Global Operations Center, 300 new apartments, and 60,000 square feet of retail space are under construction at phase two of The Banks. The latest phase of the Smale Riverfront Park, which includes Carol Ann’s Carousel, is also moving along just around the corner.

Then, across the river in Newport, 238 apartments, 8,300 square feet of retail space, and an Aloft hotel are being added as part of the next phase of Newport on the Levee. Prep work is also taking place for the relocation of Kentucky Route 9 and the long-delayed Ovation project.

You can click on any image to enlarge it.

EDITORIAL NOTE: All 13 photos were taken by Travis Estell for UrbanCincy between January 18 and February 15, 2015.

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Development News

VIDEO: Workers Looking To Make Up Lost Time On $86M Nippert Stadium Project

The exterior structure is now largely complete for the $86 million Nippert Stadium renovation and expansion project.

According to project manager Bob Marton, the construction team will now largely be focused on interior work, but that the exterior façade will really take shape over the next few weeks.

Similar to other construction projects around the city, the brutally cold and snowy weather lately has slowed down progress. Marton says, however, that they were able to shift some workers to interior projects, and that they will work some extra shifts to make up the lost time.

“We were able to put a lot of workers indoors, but the weather really slowed us down on the outside,” Marton explained in the latest project update. “We need to keep that work rolling as much as we can, because we want to get enclosed by the end of the month.”

He went on to say that the weather caused three to four days of delay. While work will continue to blaze ahead over the coming months in preparation of the University of Cincinnati’s home season football opener on Saturday, September 5 against Alabama A&M.

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Development News

The Death of Newport’s 1,100′ Millennium Freedom Tower Proposal

The progress being made at the $80 million second phase of Newport on the Levee is encouraging, but just around the block another highly touted project from the late 1990s stands next to a parking lot that has lingered for far too long.

For nearly 16 years, the $2 million World Peace Bell has sat less than proudly at Fourth and York Streets. The monument itself is fine, but has had to deal with being, “wedged between a parking lot and a White Castle.”

This was not how it was suppose to go. Instead, the 66,000-pound World Peace Bell was meant to be joined by the ostentatious Millennium Freedom Tower. Of course, the approximately $100 million structure was never built, but many may forget the original development vision.

The super-tall structure would have served primarily as a monument, but would have also included a restaurant and bar approximately midway up the tower, and office space closer to the top. It would have also boasted the world’s largest carillon, gardens, event space and a several-hundred-foot free-fall ride. The proposal came amid a flurry of proposals to more or less turn Newport’s riverfront into a theme park type destination.

Much like Newport on the Levee’s second phase, something will eventually be built on this site, but it will assuredly be more modest than what was originally proposed. But unlike what is rising a couple of blocks away at the foot of the Purple People Bridge, whatever eventually rises at this site will almost certainly be better than what was originally proposed.

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Development News

Final Designs Coming Into Clarity for $23M SCPA Redevelopment

Core Redevelopment purchased the former School for Creative & Performing Arts (SCPA) in December 2012 for $1.3 million. The 107-year-old building was originally built as Woodward High School, and Core has been planning redevelop the property since their purchase.

Plans for the $23 million redevelopment have fluctuated since Core became involved. At first the concept was to develop apartments, but then the Indianapolis-based developer looked at transforming the building into a boutique hotel. The hotel concept moved so far along that Core was in final negotiations with AC Hotels in June 2013. At the time, it would have been one of the first in North America, but the deal later fell through and AC Hotels announced that they would enter the Cincinnati market at a lifestyle center in Liberty Township.

Located in Pendleton, SCPA has a rich history that dates back to the early 19th century when the original two-story Woodward High School was established there. At the time, it was heralded as the first public school west of the Alleghenies. SCPA started to take control of parts of the building in 1976, and eventually expanded into the entire structure in 1977.

“We will continue to honor William Woodward and Abigail Cutter by working with the William Woodward Museum to enhance the memorial located on the east side of the site,” stated Core.

The 4.6-acre site is bordered by Thirteenth Street to the south, Sycamore Street to the west, Fourteenth Street to the north and Broadway Street to the east. The historic school is situated on the south edge of the parcel and is currently surrounded by parking on three sides. The northern side of the block contains Cutter Playground, which in recent years has fallen into disuse and is viewed by many neighbors as an under-performing asset.

The park has served as the focal point of discussions regarding the redevelopment of the property. The developers have proposed a variety of concepts that would build varying amounts of parking on parts of the park. The most recent proposal, which is supported by many community members, includes a condensed parking footprint and a partially submerged two-level parking deck.

In addition to developing 148 new apartments and 196 parking spaces, Core plans to remove most all of the existing pavement currently in front of the building’s main entrance along Thirteenth Street. Small access lots would remain on the building’s east and west sides, and the two-level parking deck would be constructed on the rear of the existing five-story structure.

Rents for the apartments, which will run from 500 to 2,000 square feet, are expected to range from $700 to $1,500 per month.

“Maintaining as much of the open space as possible to the north of the building while enhancing the remaining open space through the use of landscaping is also one of our goals.”

The most recent revisions are currently making their way through the approval process at City Hall, but this rendition appears to have the best shot at getting approved. If all goes according to plan, Core intends to begin construction within the next two months and welcome the first residents in Spring 2016.