Category: Development

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Business Development News

Uptown Leaders Aiming to Help Small Businesses with $500,000 Development Fund

Leaders in Uptown are looking for a way to further help and encourage small businesses to set up shop in region’s second largest employment center. The hope is that a new revolving loan fund will help make the business climate better for those small businesses who often have trouble with upfront capital.

Uptown Consortium President and CEO, Beth Robinson says that the decision to start such a fund came as a result of feedback received during its business retention and small business visits in 2012. Those involved expressed a frustration with being able to secure necessary upfront capital. So to help solve that, the Uptown Consortium funded a new Development Opportunity Fund with $500,000 of its own money last year.

“The whole purpose of these things is to create a supportive business environment,” Robinson explained. “We have coaching services, means of communicating and now this fund. We really want to support job creation. That’s what this is about.”

McMillan Street in Clifton Heights
Uptown neighborhoods have seen a surge of private investment in recent years, but some small businesses are struggling to get involved. Photograph by Randy Simes for UrbanCincy.

Robinson says that the fund is intended to support capital costs of new or expanding small and mid-sized businesses in the Uptown area, but that since it is funded with their own money there is a great deal of flexibility with how the money can be used.

“We’re open to whatever grows jobs in Uptown, and whatever stabilizes and moves the business districts forward,” noted Robinson.

These types of funds are typically administered by government agencies, not development corporations like the Uptown Consortium. This, in and of itself, gives the fund the much greater flexibility leaders are touting and on loan requirements.

The first and only business to take advantage of the fund so far is Stag’s Barbershop, which used $10,000 to complete a 1,400-square-foot expansion in Avondale. As a result, the neighborhood institution now offers, for the first time since its opening in the 1950s, a full beauty salon with hair, nail and feet treatments.

What that means is that applicants can apply for loans of the $490,000 in remaining funds. Should the program demonstrate viability and demand, Robinson says that it could be extended and potentially expanded.

“Since we are looking at it as a revolving loan fund, if the demand is there and it is having our desired intention, then there might be the possibility of expanding it,” Robinson told UrbanCincy.

Officials say that there are several businesses in the pipeline for loans right now, but that they are taking things on a first-come, first-serve basis. Ideally, they say, the new or expanding businesses will be located within one of the five neighborhood business districts in the area: Clifton’s Ludlow Avenue, Avondale’s Burnett Avenue, Corryville’s Short Vine, Calhoun/McMillan Streets in CUF, and Auburn Avenue in Mt. Auburn.

Those interested in learning more about the Uptown Consortium’s small business outreach programs, including this Development Opportunity Fund, are encouraged to contact Janelle Lee at jlee@uptownconsortium.org.

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Business Development News

Decision from Board of Trustees More Than a Decade Ago Doomed Wilson Auditorium

In early 2000s the University of Cincinnati Board of Trustees voted to build a new academic building for the McMicken College of Arts & Sciences along Clifton Avenue. That plan, of course, never came to reality due to fiscal constraints, but the unintended victim of that decision now be found in the rubble left behind by the now demolished Wilson Auditorium.

University officials revealed to UrbanCincy that while the Board of Trustees approved the new buildings, they did nothing to accommodate the ongoing maintenance costs of the aging Wilson Auditorium in the meantime. As a result, the building significantly deteriorated over the past five or so years.

In December part of the vision the Board of Trustees approved years ago came to reality when the 83-year-old structure was leveled. There are no plans, however, for any new academic facility to take its spot at this time.

Wilson Auditorium Site
Wilson Auditorium is now gone, but what will ultimately happen with the prominent site is anyone’s guess. Photograph by Jake Mecklenborg for UrbanCincy.

According to the director of project management with the University of Cincinnati Office of Planning + Design + Construction, Dale Beeler, the site will be used as temporary classroom space during the $18.5 million renovation of the Teachers College over the next two years. That temporary space will amount to 25,000 square feet of modular buildings that the University of Cincinnati purchased from Cincinnati Public Schools following the district’s renovation of Walnut Hills High School.

What will happen with the prominent site on the university’s main campus is not yet clear.

“It is a too valuable piece of ground to leave unbuilt for an extended period of time,” explained Beeler. “Whatever is built there, however, would probably not be as imposing or close to Clifton Avenue as Wilson Auditorium.”

While the possibilities are wide open, the site is not. The small piece of land is surrounded by complicated slopes and other structures. The challenging site forced the previous design for the Arts & Sciences building to include a “tremendous amount of underground space” so that it was less imposing above ground.

While some rumors have included the possibility of a parking garage on the site, Beeler says that it will most likely be for some sort of academic use – indicating that either the Arts & Sciences building could come back into play, or the site could be used as the home for the new $70 million College of Law building.

Beeler was quick to deny that there were any plans in place to build new classroom space for the School of Design’s industrial design program, as was posted on the construction fence surrounding Wilson Auditorium’s demolition. It is assumed that this was prank by a student at the adjacent College of Design, Architecture, Art & Planning (DAAP).

Until any solidified plans are put on the table and funded, students and area residents and workers, Beeler says, will at least be able to enjoy a better view of McMicken Hall.

“It’s amazing what it’s done for the view of McMicken Hall from that side of campus! It looks twice as big and twice as imposing.”

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Business Development News Transportation

Cincinnati Aims to Open Initial Phase of Bike Share System This Summer

Cincinnati Bike Share Station MapCincinnati is set to join the ranks of American cities with bike sharing with the launch of Cincy B-Cycle next summer. The program is being organized by Cincy Bike Share, Inc. and is expected to begin operations in June.

Jason Barron, who previously worked in the office of former mayor Mark Mallory, was hired as the non-profit organization’s executive director in early December.

Over the last several years bicycle sharing programs have begun operating in several dozen cities across North America, and many more are planned. In July, CoGo Bike Share started operating in downtown Columbus and surrounding neighborhoods – marking the first bike share system to open in Ohio.

The planning for Cincinnati’s bike share system has been underway since 2011, when the Cincinnati USA Regional Chamber’s Leadership Cincinnati program started looking at getting a program running here. Then, in 2012, a feasibility study was commissioned by Cincinnati’s Department of Transportation & Engineering (DOTE).

It was not until the summer of 2013, however, that Cincy Bike Share, Inc. was established, and quietly selected B-Cycle to manage the installation and operations of the program.

B-Cycle operates bike share programs in over 25 cities in the United States, including Kansas City and Denver, and has started expanding overseas.

While traditional bike rentals are oriented to leisure rides, with the bike being rented for a few hours and returned to the same location, bike sharing, on the other hand, is geared for more utilitarian use.

According to Barron, usage of shared bikes is intended for one-way rentals over shorter time periods. Bikes are picked up and dropped off at unattended racks, where they are locked with a sophisticated system that is designed to allow users to quickly make trips that are just beyond walking range – often times about a half-mile to two miles in length.

The way the systems usually work is that users can either purchase a monthly or yearly membership that entitles them to a certain number of rides per month. Non-members, meanwhile, are typically able to purchase passes by the hour or day and are able to pay by cash or credit card at the informational kiosk present at each station.

Proponents view bike share programs as attractive components in the development of vibrant cities. With the continued revitalization of Cincinnati’s center city, Barron feels that bike share will fit well into the mix.

“With all systems of transportation, the more the merrier” Barron explained. He went on to say that he hopes that bike sharing, cars, buses and the streetcar “will work together to give people some great mobility options.”

One of the remaining tasks for Barron and the newly established Cincy Bike Share organization will be securing the necessary funding to build the approximately $1.2 million first phase of stations and the $400,000 to operate it annually. Barron believes that it can be accomplished through a number of ways including through a large number of small sponsors, as was done in Denver, or signing one large sponsor like New York City’s CitiBike system.

In addition to added exposure, bike share advocates point to research that shows improved public perceptions for companies sponsoring bike share systems. In New York, it was found that Citicorp’s sponsorship of CitiBike led to greatly increased favorability of the bank shortly after that bike share program launched.

“It’s a tremendous opportunity for a corporation to tap into the young professional market,” Barron told UrbanCincy.

Cincy Bike Share is planning to start operations with about 200 bikes based at about 20 stations in downtown and Over-the-Rhine in the first phase, and would include a total of 35 stations with 350 bikes once phase two is built. Cincinnati’s initial system is modest in size when compared to other initial bike share system roll outs in the United States.

New York City CitiBike: 6,000 Bikes at 330 Stations
Chicago Divvy Bike: 750 Bikes at 75 Stations
Boston Hubway: 600 Bikes at 61 Stations
Atlanta CycleHop: 500 Bikes at 50 Stations
Miami DecoBike: 500 Bikes at 50 Stations
Washington D.C. Capital Bikeshare: 400 Bikes at 49 Stations
Denver B-Cycle: 450 Bikes at 45 Stations
Columbus CoGo: 300 Bikes at 30 Stations
Cincinnati B-Cycle: 200 Bikes at 20 Stations
Salt Lake City GREENbike: 100 Bikes at 10 Stations
Kansas City B-Cycle: 90 Bikes at 12 Stations

Cincinnati’s bikes are expected to be available for use 24 hours a day, and Barron says they will also most likely be available for use year-round. Cincy Bike Share will be responsible for setting the rate structure. While not final yet, it is estimated that annual memberships will cost $75 to $85 and daily passes will run around $6 to $8.

The 2012 feasibility study also looked at future phases opening in Uptown and Northern Kentucky. While it may be complicated to work through operating a bi-state bike share system, Barron says that Cincy Bike Share has already discussed the program with communities in Kentucky and says that they have expressed interest in joining.

While there is no state line or a river separating the systems initial service area downtown from the Uptown neighborhoods, steep hills at grades ranging from 7% to 9% do. These hills have long created a barrier for bicyclists uptown and downtown from reaching the other area with ease.

Barron views the hills as an obvious challenge, but part of Cincinnati’s character and what make Cincinnati great. When the Uptown phase gets under way, he says that it will be operated as one integrated system with the first phase, but that it is not known yet how many users will ride between the two parts of the city.

Over the past few years, the DOTE’s Bike Program has greatly increased the city’s cycling infrastructure, and it is believed that continued improvements will help make using this new system, and the increasing number of cyclists, safer on the road.

Cincinnati’s new bike share system also appears to have majority support on council and with Mayor John Cranley (D), who has publicly stated that he is in favor of the program. “We plan on working with the City as a full partner,” Barron noted. “We think everything’s in place.”

If everything goes according to plan, the initial system could be operational as early as this summer.

Salt Lake City GREENbike photographs by Randy Simes for UrbanCincy.

Categories
Business Development News Opinion

Retooling Cincinnati’s Industrial Neighborhoods for the 21st Century

In the last few years, evidence has shown the possibility for a revival of manufacturing within the United States. Recent trends have seen the “reshoring” of factories – with polls showing more and more companies considering the move – and the expansion and opening of new factories as well.

Much of this reindustrialization has occurred in the South and, for the most part, outside major urban areas. For far too long cities, especially northern cities in the Rust Belt, have written off an economy based on manufacturing as something from a bygone era, never to come back.

Spring Grove Village
Once viable industrial neighborhoods like Spring Grove Village have made way for the proliferation of car dealerships and fast food restaurants. Could their future be something greater? Photograph by Jake Mecklenborg for UrbanCincy.

Cities from Cleveland to Flint have tried to reinvent themselves as a something like a Rust Belt version of Portland, Oregon, thus turning their back on any sort of industrial and economic policy in the hopes that gentrification and arts will revive their city.

While these sorts of developments have a place in economic policy for American cities, it is an unwise move for industrial cities such as Cincinnati to turn their backs on the opportunity to attract industry into the city once again.

Cincinnati is well-positioned to capitalize on a manufacturing renaissance in the nation. With incredible industrial infrastructure, an already heavy industrial sector in the region, and an incredible amount of vacant space, the city can create an economy where the bustling coffee shops and boutiques of Over-the-Rhine are only a short walk from the buzz of manufacturing (advanced and traditional alike) in Queensgate and the West End.

The days of entire cities being built upon industrial production have passed, that is without a doubt. But when urbanists discuss cities with mixed-use, diverse economies, manufacturing must be included.

These higher-than-average paying jobs could attract residents and revitalize neighborhoods. Through aggressive economic and industrial planning in the city, zoning that doesn’t ignore manufacturing, labor cooperation, and innovative education initiatives, Cincinnati could become a nationwide example of a city building a solid, diversified economic foundation on which to reclaim its storied past and prepare for a healthy future.

Editor’s Note: Jacob D. Fessler is a new member of the UrbanCincy team. He grew up in Northern Kentucky’s Erlanger community and went on to study International Relations and Latin American Studies at DePaul University in Chicago, and is currently studying International Affairs at the University of Cincinnati.

Jake will focus on urban economics and specifically examine policies that impact our region’s industrial – and thus economic – competitiveness. How and what can Cincinnati do to inject new life and jobs into the Mill Creek Valley? How should our community leaders be looking to improve earnings and the financial health and stability of our residents? These are the kinds of questions he will be exploring. Please join us in welcoming Jake to our team!

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Business Development News

PHOTOS: Thousands of New Residential Units to Transform Downtown

Three buildings on 7th Street will be redeveloped by Peak Property Group.

Downtown Cincinnati is experiencing a new wave of development, with new office space at the Dunnhumby Centre, two new hotels in the historic Enquirer Building, the new Mabley Place in the former Tower Place Mall, and several other projects. But at UrbanCincy, we are most excited about the large number of new residences.

With more residents, the urban core will be able to support more essential neighborhood businesses—such as grocery stores, dry cleaners, and affordable restaurants—that are necessary for the long-term stability of the Central Business District and Over-the-Rhine neighborhoods.

Editor’s Note: Check out our updated photos of these construction projects, taken in July 2014.

If all of the announced projects go according to plan, around 1,500 new units of housing will be added over the next two to three years, and each individual project will offer something unique. There will be a mix of apartments and condos; one-bedroom and two-bedroom units; affordable and luxury price points; historic renovations and new construction.

Most recently, the Cincinnati Center City Development Corporation (3CDC) announced a new development at 15th and Race that will include 57 new residential units and retail space; the exact mix of condos and apartments has not yet been announced. 3CDC is also proceeding with the three-phase Mercer Commons development, which will include a grand total of 126 apartments and 28 condos.

Other projects moving forward include:

  • The new tower at Fourth and Race will contain 300 luxury apartments and a 15,000 square foot grocery store. Developer Flaherty & Collins will begin demolition of the site’s existing parking garage, often called Pogue’s Garage, in the first half of 2014.
  • Phase two of The Banks is expected to finally break ground in 2013 2014, adding 305 new apartments and 21,000 square feet of retail space.
  • Developers of the Fountain Place retail building want to add 180 to 225 residential units above the existing Macy’s department store.
  • AT580, formerly known as the 580 Building, is being converted from office space into 179 apartments. The existing retail spaces on the first and second floors will remain.
  • A new tower above the Seventh and Broadway Garage will feature 110 high-end apartments. The target demographic for these units will be empty-nesters and older professionals looking for downtown living, according to Rick Kimbler, partner at the NorthPointe Group.
  • Three buildings on Seventh Street, which have been purchased by Peak Property Group, will be converted into 75 apartments and 15,000 square feet of retail space.
  • Broadway Square, a $26 million development in Pendleton, will feature 39 apartments and 40,000 square feet of retail space in first phase. Developer Model Group will add at least another 39 apartments in the second phase of the project.
  • The Ingalls Building will be redeveloped into 40 to 50 condos and ground-floor retail space by the Claremont Group.
  • The Schwartz Building, formerly vacant office space, will be converted into 20 apartments. Developer Levine Properties cited the building’s location along the Cincinnati Streetcar route as a driving factor for the renovation.

All photographs by Jake Mecklenborg for UrbanCincy.