Category: Development

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Business Development News

Latest phase of Stetson Square takes on new urban form

Developers will break ground on more housing uptown in Corryville in the near future. The project will be the second phase of the $80 million Village of Stetson Square development located immediately south of University Hospital, and will include 18 residential units.

The four new buildings will be built at Eden Avenue and E. Rochelle Street – one of two vacant pieces of land owned by developer Great Traditions Land & Development.


Village of Stetson Square phase two renderings provided by e3 design collective.

While the Village of Stetson Square has achieved great success with its existing 205 apartments, 53 townhomes, and 95,000 square feet of commercial space, the last two pieces of land have sat undeveloped since 2006.

At the time, the development team said the two sites would be developed at a later date based on market demand. With the housing market starting to settle, and the uptown housing market booming, it appears like it may finally be time to finish what was started almost a decade ago.

New renderings, provided exclusively to UrbanCincy, show that the new phase of construction about to being will take on a decidedly different urban form from the rest of the development which includes four- to five-story buildings alongside tightly built townhomes.

While apartments are at capacity throughout uptown, the Cincinnati Enquirer reports that the new residential offerings will be for-sale units priced in the $200,000s due to a desire by the Corryville community to boost home ownership rates in the historic neighborhood.

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Business Development News

Cincinnati Children’s Hospital to construct $180M research tower

Cincinnati Children’s Hospital Medical Center has confirmed plans for a new uptown research tower. Hospital officials say that construction on the new $180 million, 15-story tower will begin June of this year.

Work at the congested site will be performed by Messer Construction and is expected to be completed by summer 2015. The possibility of such a project was first reported on by the Business Courier last month.

The new tower will be located immediately next to, and integrated with a research tower Cincinnati Children’s completed in 2007. Officials declined to comment on future employment numbers at the new tower, but did state that the adjacent 11-story tower houses approximately 1,100 employees.


The $180 million Clinical Research Building will make Cincinnati Children’s Hospital the largest pediatric research center in the United States. Renderings provided.

In a memo obtained by UrbanCincy, Dr. Arnold Strauss, director of the Cincinnati Children’s Research Foundation, stated, “In the five years since Location S opened, our research enterprise has greatly flourished. The construction of this Clinical Sciences Building will provide that room to grow, but will also allow consolidation of research efforts now occurring at the Oak campus, back together with our Clinical & Translational Research Clinic.”

Dr. Strauss believes that the 425,000 square feet of new research space will improve efficiency and increase the scope of the hospital’s patient-oriented research, while also delving deeper into childhood disease issues.

The contemporary tower will include new laboratories, an outpatient clinic, imaging facility, office space, supporting infrastructure, and was designed by a team of architecture firms including GBBN Architects, HDR, Inc., and Geier Brown Renfrow Architects.

“This new space will enable us to attract and retain more of the world’s top-notch researchers, innovators and clinicians who want to be at the leading edge of discovery,” Michael Fisher, president and CEO of Cincinnati Children’s, stated in a prepared release.

Hospital officials say that the project is being financed through a combination of operating cash and investments, future operating cash flows and private donations. The new building is one of six towers at least 100 feet in height UrbanCincy projects to be built over the remainder of the decade in Cincinnati.

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Business Development News Opinion Transportation

Reimagined Brent Spence Bridge alignment could prove to be financial windfall for Cincinnati

On Tuesday April 24 and Wednesday April 25 residents will have a chance to voice their concerns about the preferred Brent Spence Bridge design alternative, currently known as Alternative I at Longworth Hall. The proposal would build a new bridge adjacent to the existing Brent Spence Bridge.

The process, which began in 2004, has a nebulous future ahead of it with uncertainty pertaining to future funding from a new federal transportation bill. Recently, state officials have said that parts of the overall rebuild of I-75 through Cincinnati may be delayed for up to fifteen years. The new funding paradigm has left local leaders on both sides of the river talking about public-private partnerships. Because of this uncertain future, it may be possible to reexamine one of the bridge options not pursued.


More than two dozen new city blocks would be able to generate in excess of $200 million annually in property tax revenue alone, should the new Brent Spence Bridge be shifted west. Rendering from Revive I-75 Study.

In 2010, the City of Cincinnati hired consultants to conduct several workgroups along the Interstate 75 corridor within the city limits. The study, named Revive I-75, addressed ways to mitigate the impact of the expanded highway on the surrounding urban neighborhoods. What also came out of the study was a visualization of the possible configuration of a new bridge for I-75 on the opposite side of Longworth Hall that would have allowed for the expansion of the Central Business District.

At the time there were several alignment configurations under study that would have moved the new bridge west of Longworth Hall, shrinking the amount of land the spaghetti-like on ramps use to connect I-71 to I-75 and the bridge. These alternatives were embodied in Alternatives A & B in the Brent Spence Bridge Corridor study. Yet both alternatives were removed from consideration citing environmental impacts and cost concerns. One of the arguments raised in opposition to the proposal was that that the city would lose valuable tax revenue from the affected industrial businesses in Queensgate.

However; according to urban economists such as Joe Minicozzi and Peter Katz, multi-story mixed use development actually brings in the most tax revenue for local jurisdictions when compared to single use facilities. In their study on Sarasota, Florida, it was found that a local mall generated only $22,000 in tax revenue per acre whereas a 17-story mixed use tower generated $1.01 million in tax revenue per acre. Since the 2010 study, Minicozzi has performed the same study in over fifteen different municipalities with similar results.

In a recent article written by Emily Badger, she summarizes several pertinent studies and surmises that, “We tend to think that broke cities have two options: raise taxes, or cut services. Minicozzi, though, is trying to point to the basic but long-buried math of our tax system that cities should be exploiting instead: Per-acre, our downtowns have the potential to generate so much more public wealth than low-density subdivisions or massive malls by the highway. And for all that revenue they bring in, downtowns cost considerably less to maintain in public services and infrastructure.”


Shifting the new Brent Spence Bridge to the west would allow downtown Cincinnati to be relieved from the existing and proposed entanglement of highway ramps. Rendering from Revive I-75 study.

A land use analysis performed by the UrbanCincy team found that the alternatives presented and illustrated in the Revive-75 documents would increase the amount of new land available in the Central Business District by roughly 33 percent. Approximately 25 new city blocks would be created under the proposal, freeing up land that is currently taken up by the expansive tangle of roadways that connect I-75, I-71 and the Brent Spence Bridge.

This would be accomplished by maintaining the ramps that connect I-71 to the Brent Spence Bridge and extending Fort Washington Way west, becoming the Third Street Expressway. This expressway will later align with the Sixth Street Expressway after connecting to the new bridge alignment west of Longworth Hall. The street grid would then be reestablished and developable real estate could be maximized on the newly reclaimed land. Based on the research provided from Minicozzi and Katz, UrbanCincy estimates that the taxable revenue capture could be more than $200 million from property taxes alone.

Such a move would not only allow for a sizable expansion of the Central Business District, but it would also create available land for a future expansion of the Duke Energy Convention Center. In a time when public agencies are trying to do more with less, this is a perfect opportunity to create more tax-productive property in the heart of the Cincinnati region. Moving the new bridge west is a solution that city, county and local business leaders should all support.

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Business Development News

New Asian-inspired restaurant to extend Vine Street’s veritable restaurant scene north

An Asian-inspired restaurant has signed a lease Fourteenth and Vine Street in historic Over-the-Rhine. The restaurant will be named Hapa, and is rumored to be operated by the same owners as Pho Lang Thang.

The five-year, 1,100-square foot restaurant lease is the first major commercial tenant for the Trinity Flats development led by The Model Group, but builds on momentum moving north along Vine Street where residential property has already reached capacity in recently completed developments.


A new restaurant called Hapa will soon join the diverse collection of restaurants along Vine Street in historic Over-the-Rhine. Vine Street photograph by Randy A. Simes for UrbanCincy.

Trinity Flats was a good mix of rehab and new infill construction, and we’ve only got one more condo left to sell as a result,” noted Bobby Maly, Chief Operating Officer at The Model Group. “The OTR condo market is still hot, and I’m particularly proud of the way we built out two vacant corner lots. The block feels strong and even more walkable than ever.”

The development was a bit of a department for the Cincinnati-based developer. The Model Group has historically focused on rehabs and affordable housing developments. Trinity Flats, however, incorporated new infill construction and included condos averaging $175,000. The results, Maly says, have been better than what could have been hoped for.

“The more dense we can make our main thoroughfares, with high pedestrian traffic and retail spaces, the more life we can give our streets and the neighborhood overall,” Maly explained. “It [urban infill] is the right thing for the community and built environment.”

After Hapa opens there will be just two street-level retail spaces left in the Trinity Flats development which was once viewed as a bold investment in a part of Over-the-Rhine that had yet to prove itself.

Construction work is scheduled to begin on the $53.5 million Mercer Commons development later this year, and officials with The Model Group say to watch for an announcement this summer on a new development in partnership with the Cincinnati Center City Development Corporation (3CDC).

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Business Development News Politics Transportation

Cincinnati City Council prepares to take action against urban parking mandates

Unused Parking at The Banks [Randy Simes]

Cincinnati Vice Mayor Roxanne Qualls (C) has introduced a motion co-sponsored by Councilmembers Laure Quinlivan (D), Chris Seelbach (D), Yvette Simpson (D), Cecil Thomas (D) and Wendell Young (D) to eliminate minimum parking requirements in historic Over-the-Rhine and the Central Business District.

Citing other urban examples such as Nashville, Portland, San Francisco, Seattle, and Tacoma, Qualls stated that, “Cities are recognizing that allowing the market to function will produce a better result. If a developer wants to build an 800-room hotel without providing any parking, that’s probably not going to meet the demands of the market. But if a developer can sell or rent his units without meeting minimum parking requirements, then there is no need for them.”

The motion cited that current regulations require at least one parking space per dwelling unit and that providing parking can be a costly impediment to developers looking to invest in older buildings in the region’s urban core. That motion has been referred to the Livable Communities Committee, chaired by Vice Mayor Qualls, and could go before the full city council soon after.


The new Central Riverfront Garage will soon be built over with new businesses, residences and even more parking mandated by law. Photograph by Randy A. Simes for UrbanCincy.

Chad Munitz, Executive Vice President of Development and Operations of the Cincinnati Center City Development Corporation (3CDC), estimates that parking mandates cost urban developers $5,000 for one surface parking space and $25,000 for a structured parking space on average. The increased cost associated with that parking, Munitz says, is then passed on to the consumer and raises the price of a residential unit by as much as $25,000.

The announcement comes just two weeks after UrbanCincy proposed three solutions for reforming Cincinnati’s urban parking policies. One of those solutions included the idea of eliminating minimum parking requirements.

Expanding on the impacts of eliminating parking requirements, Nashville urban planner Joni Priest indicated that removing parking minimums did not reduce the number of parking spaces developed for new downtown projects. Instead removing parking requirements allowed the preservation of historic buildings by allowing developers to become more creative in developing parking strategies such as shared off-site parking agreements, and it prepared the city for long-term transportation infrastructure improvements.

“Nashville has built two new parking structures in recent years – one in conjunction with the new downtown library and the other beneath a civic lawn in front of the county courthouse,” explained Priest. “These parking structures are near the oldest parts of downtown.”

Priest highlighted The Stahlman development as an example of a historic building that was revitalized because of the removed parking restrictions. The historic 12-story office building was rehabilitated into apartments, and sits directly across from the civic lawn that has parking beneath it. One parking space, Priest explained, is included in the rental price and additional spaces are available.

“The Stahlman has been a big success because it is a great building with a great view in the heart of a great city, but also because the developer was able to find a practical solution to a problem that plagues historic structures,” concluded Priest who went on to say that similar stories can be told for other developments near Nashville’s library garage.


Small businesses in neighborhoods like historic Over-the-Rhine often stuggle to provide minimum parking requirements drafted with suburban business models in mind. Photograph by Randy A. Simes for UrbanCincy.

The expansion and renovation of Washington Park offers a similar opportunity in Cincinnati’s historic Over-the-Rhine neighborhood where a great deal of new investment is taking place. Additionally, the results from Nashville seem to find that easing parking requirements would immediately make it easier to convert historic office buildings into residential uses.

The idea, policy makers say, is to allow the free market to operate within an urban context and allow cities like Nashville to anticipate increased demand for non-automobile forms of transportation.

“Removing the parking requirements from downtown zoning allows flexibility for site-specific and program-specific solutions. Flexibility is key in urban environments,” said Priest. “As downtown becomes more comfortable for pedestrians, cyclists and transit users, new development will have the flexibility to build less parking.”

As investment continues to spike in Cincinnati’s urban core, and construction work moves forward on the city’s new streetcar system, it becomes increasingly clear that the policy shift is more about lifestyle options than anything else.

“If you walk through Over-the-Rhine during a snowy winter, you’ll see cars in the surface parking lots covered with snow that has never been dusted off because they haven’t been driven in weeks,” Munitz said. “The convenience sought by downtown residents is not instant access to a car – it’s the ability to live without a car.”