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Business Development News

Hamilton County Pushes Forward With Latest Phase of The Banks

Hamilton County has awarded the latest bid package for a variety of trade contracts on the infrastructure work for Phase III of The Banks, which includes a 690-space addition to the Central Riverfront Garage and a one-block addition of other infrastructure south of Freedom Way.

All three contacts were valued at a combined $653,228; and all went to area companies. According to Phil Beck, project executive for The Banks development, Universal Contracting Corporation will perform site work, Geograph Industries will handle signage, and ESI will manage security of the site.

While not particularly large or sexy contracts, project officials say they are representative of the continued progress being made at the massive central riverfront mixed-use development.

“Awarding these contracts for work at The Banks signals that another aspect of the riverfront development is nearing completion,” said Chris Monzel (R), president of the Hamilton County Board of Commissioners. “This phase of the project sets the stage for more economic impact.”

The University of Cincinnati Economics Center has estimated that, once fully completed, the first phase of The Banks will positively impacting the local economy by some $276 million per year – a figure they expect to grow substantially once later phases are built out. General Electric’s new 338,000-square-foot Global Operations Center, alone, is projected to boost the region’s economy by roughly $1 billion annually.

While Hamilton County is overseeing the construction of the infrastructure work at Phase III, the City of Cincinnati and the private development team is making progress on the vertical build of GE’s new building, the 165-room AC Hotel, and 291 apartments and 19,000 square feet of retail within the first two phases of the project.

THP Limited and Burgess & Niple are in charge of the design of Phase III work, while Messer is handling the construction.

As of now, all the infrastructure work being managed by Hamilton County and the City of Cincinnati is $29.3 million within budget; and project officials say that they have achieved 30% Small Business Enterprises participation on all work, but just 17.3% on phase three activities thus far. Beck also says that phase three work is on schedule to be complete by September.

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News Transportation

VIDEO: Cincy Red Bike Provides New Transportation Choice for the Urban Core

Although it launched less than two years ago, Red Bike has already become a very popular way to get around Cincinnati’s urban core. This new transportation option seems to be equally popular with recreational riders and those seeking to get around for practical purposes.

In a new video produced by Give Back Cincinnati — the second in a series on new transportation options in the city — the creation and growth of Red Bike is explored.

Be sure to check out the first video in the series, which focused on the tri*Metro program, and stay tuned to UrbanCincy for the third and final part of the series.

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News Politics Transportation

EXCLUSIVE: ODOT Expected to Announce Major Shift to ‘Fix-it-First’ Policy

While Ohio’s gas taxes and population have remained flat over the past decade, the Ohio Department of Transportation has continued to add capacity to roadways across the state – in some cases even building entirely new roadways to add to the state’s existing infrastructure. This may all soon be ready to change in what is being called a “major” policy shift in Columbus.

According to employees at ODOT who were briefed at an internal meeting on the matter recently, the nation’s seventh-largest state is poised to announce in the coming months that the days of roadway expansion are over. Instead they say that ODOT will embrace a future focused on maintenance and preservation of its existing network of more than 43,000 miles of roads and 14,000 bridges.

While officials say the move is economically driven, it also comes at a time as activists around the country – including numerous cities throughout Ohio – are increasingly calling for governments to embrace a “fix-it-first” policy.

An increasing number of states have been adopting such policies, with Michigan being one of the first when it enacted its Preserve First program in 2003, and California being the largest when it joined the fray last year.

The forthcoming announcement from ODOT, however, goes a step further than that.

In addition to focusing funds on maintenance and preservation, ODOT officials also say that they will abandon their “worst first” approach to fixing existing roadways. In doing so they say that the new program, called the Transportation Asset Management Plan, can save the state an estimated $300 million over the next six years – money that can then be redirected to other preservation activities like cleaning, sweeping, sealing and micro-surfacing.

The idea here, similar to healthcare or household maintenance, is that it is often much more economical to make steady improvements rather than waiting to make repairs until the asset is too far gone.

“It’s finally sinking in that we cannot continue on this unsustainable pace of highway expansion,” said an ODOT employee who spoke to UrbanCincy on the conditions of anonymity because they were not authorized to speak publicly.

According to ODOT’s own internal estimates, current funds will not be enough to maintain Ohio’s existing system by 2019 – the time when the Ohio Turnpike bonds are gone. Thus, without a major new source of revenue like a gas tax increase, ODOT intends to completely get out of the highway expansion business, and shift all funds to maintenance and rehabilitation.

“Most projects will occur before a road becomes severely compromised, and will be based around maximizing the service life of a particular road,” the ODOT staffer continued. “Long story short, ODOT isn’t going to waste its money on patching up a road as a temporary fix that will simply deteriorate again quickly because of major structural problems.”

There is no clear idea as to whether highway expansion projects currently on the drawing board will be impacted by this, but it appears likely that they will unless they receive capital funding through TRAC prior to 2019.

Such news could be damning for projects like the recently proposed Eastern Bypass or what is left of the Eastern Corridor project. At the same time, it could be the positive jolt needed for projects like the Western Hills Viaduct, which is in desperate need of an estimated $280 million fix.

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News Transportation

VIDEO: Metro Working to Attract More Young Professionals to Transit

In 2014, Metro launched the tri*Metro program to challenge young professionals to try existing public transportation options throughout the region.

Since that time, special late-hour buses have been added to encourage young riders to use Metro between popular destinations in Hyde Park, Mt. Lookout, Oakley, O’Bryonville and Over-the-Rhine. The hope has been to familiarize current non-riders with the system, while also expanding service offerings.

A new three-part video series from Give Back Cincinnati takes a closer look at Cincinnati’s expanding transit options. The first installment focuses on the aforementioned efforts from Metro to bolster ridership with young people.

The roughly five-minute video was produced by AGAR thanks to funding provided by the Carol Ann and Ralph V. Haile, Jr./U.S. Bank Foundation.

Check back with UrbanCincy for more from this video series.

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Business News Transportation

Knight Foundation Announces Nearly 150 Finalists For Cities Challenge

The Knight Foundation will announce their list of finalists in the Knight Cities Challenge today. The finalists have been pulled from a collection of more than 4,500 ideas submitted through the challenge to help improve the vibrancy of cities throughout America.

The competition, as with all Knight Foundation grants, is limited to the 26 communities where the organization focuses its efforts. The nearest cities to Cincinnati include Akron and Lexington – both of which were places where the Knight brothers once owned newspapers.

“Through the challenge we want to find new voices and new ideas that capture the three key ingredients of city success—talent, opportunity and engagement,” said Carol Coletta, Knight Foundation vice president for community and national initiatives. “We see these as essential to the challenge and to building stronger futures for all of our cities.”

Akron has become a bit of a darling in the Knight Foundation group as many efforts originating their so tightly align with the non-profit’s core values. In fact, this past October Akron grabbed national headlines when it staged a 500-person dinner on an underutilized highway in the heart of the city – an effort the Knight Foundation supported financially.

The winners of this year’s challenge will be awarded grants to implement their ideas from a pool of $5 million. The target, program officials say, is to invest in civic innovators who help cities attract and keep talented people, expand economic opportunity and create a culture of engagement. Such a model is similar to what People’s Liberty has taken on here in Cincinnati.

Three projects that may prove of interest to leaders here in the Queen City include the Tree Debris to Opportunity project in Boulder, and the New Flavors Food Truck project in North Dakota.

In Boulder, city officials are looking to turn tree debris into an opportunity by training members of the community looking for new skills into collectors and artisans. Through the project, participants would work with the city to collect tree debris and turn it into furniture and art – thus improving the cleanliness of the city and providing the participants with new skills.

In Cincinnati, such a program could potentially help bolster Mayor John Cranley‘s Hand Up Initiative which is aiming to lift 4,000 Cincinnatians out of poverty, while also helping improve the cleanliness of city neighborhoods.

The proposal for the New Flavors Food Truck looks to capitalize on the continued popularity and low-cost of food trucks. In this effort, the organizers would use a generic food truck to provide opportunities to new immigrants to start new food service businesses or restaurants.

With Cincinnati placing a growing interest in embracing and growing its immigrant population, an idea akin to this might serve as a good building block to empower those individuals.

The Knight Foundation will select the winners from this pool of nearly 150 finalists later this spring.