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Business Development News

Construction Work on $30M Corryville Apartment Project On-Pace for Fall 2015 Completion

Uptown Rental Properties is making progress on their latest development in Corryville. This one, called VP3, is located on Euclid Avenue between Corry and Charlton Streets, and will add 147 units with 300 beds to the neighborhood. If all goes according to plan, the $30 million project will open in the fall of 2015.

The site previously included seven homes and a suburban-style Fifth Third Bank retail branch, and is located across the street from the planned site for a new Kroger grocery store.

Corryville has seen a wave of private investment recently that has added hotel rooms, apartments, and retail and office spaces. Much of that investment has come from Uptown Rental Properties, which has constructed hundreds of new residential units and injected thousands of new residents into Corryville over the past several years.

According to Dan Schimberg, president of Uptown Rental Properties, the demand for additional housing units in Corryville is so strong that they have revised their original plans over the years to try to serve the market.

“There is such an incredible demand for housing on the east side of campus,” Schimberg told UrbanCincy. “Originally our plan was to build housing for 1,200 people on Short Vine, but now we’ve increased that total to 1,600 by 2016.”

For better or worse, all of this development is changing the face of Corryville.

But unlike many of the company’s other developments surrounding the University of Cincinnati, it is not just students occupying the residential units being built in this area. According to Schimberg, more than 30% of the total residents are non-undergraduate students, compared with just 3% on the south side of campus – something he attributes to the growing demand for urban living.

“Three of the top five largest employers are in Uptown, and then have been adding thousands of jobs over recent years,” Schimberg explained. “What we’re seeing is a demand for workforce housing on the east side of campus from a desire for people to live in a more urban environment.”

In addition to the increased demand for urban living and the rapid job growth nearby, Schimberg believes the improvement of Uptown neighborhoods is also keeping and attracting residents in a way he has not seen since starting Uptown Rental Properties nearly 30 years ago.

It is expected that work will wrap up on the four-story VP3 development in the fall of 2015. At that time, a new 550-space parking garage, being built in coordination with this project, will open and provide some 225 public parking spaces for the Short Vine business district.

“The addition of these new residents is providing the core demand for the retail, and the residents get to benefit from those nearby services,” Schimberg continued.

Due to the philosophy of wanting the retail and residential to benefit one another, Schimberg said that the public portion of the parking garage is being built solely to help bolster the business on Short Vine. As a result, Uptown Rental Properties and the City of Cincinnati are sharing the costs for the garage.

Since developers are pursuing LEED Gold certification from the U.S. Green Building Council, the project will be eligible for the City of Cincinnati’s LEED Tax Abatement.

Categories
Business News Politics

What Does Cincinnati’s Nativity Rating Mean for Its Long-Term Migration Prospects?

Cincinnati has a migration problem that is two-fold. First, it lags behind most major metropolitan regions in North America when it comes to attracting international migrants. Second, and perhaps more significantly, is that the region has a stagnant domestic population.

This is not because domestic migrants are any more or less important than international migrants. But rather, it is because stagnancy is a major problem for cities.

As many demographers and social scientists have pointed out, focusing public policy on retaining existing talent is a bad approach. In fact, large movements of people out of one region can be a very positive thing. That is, of course, if it is balanced out by a large influx of people into that same region. This is the case for North America’s largest cities, and is also evidenced at a larger scale in California.

But beyond that, older Midwestern cities with a large cluster of high-quality universities also seem to export more people than they import. That, in and of itself, is not the problem.

“This notion of the university as a “factory” gets very close to the truth,” Aaron Renn, owner of The Urbanophile, wrote in 2010. “A friend of mine noted that if we treated steel mills like universities, Indiana would be obsessing over “steel drain” and spending hundreds of millions of dollars on programs to try to keep steel from leaving the state.”

Renn went on to say that the notion of doing such a thing would be ludicrous, and that it is important to understand the details of what is really going on when it comes to a region’s migration patterns.

“Migration does matter. Any city that thinks it can be blasé about this is fooling themselves,” wrote Renn in a separate piece. “On the other hand, surface numbers only tell us so much. We need to understand the dynamics going on underneath the hood.”

By most comparative measure, Cincinnati actually does very well compared to many places at retaining its population. The problem is that it does very poorly at bringing in new people from outside the region.

Based on five-year estimates from the American Community Survey, this stagnation can be clearly seen.

Perhaps not surprisingly, the areas of the Cincinnati Metropolitan Statistical Area (MSA) which have the highest percentage of people living there that were born in another state are near state borders. Since the Cincinnati MSA stretches across three states, you can see that movement of Ohio residents to southeastern Indiana and northern Kentucky has boosted numbers in those locales.

On average, approximately 68% of the 2.2 million person Cincinnati region was born in the state where they currently reside. Meanwhile, Uptown and Cincinnati’s northeast suburbs appear to be the only parts of the region that are actually attracting newcomers to the region.

Another key finding here is the utter lack of movement of people into or out of Cincinnati’s western suburbs, which have a native born population between 80-100%. This number is roughly comparable to most rural areas in Ohio, Kentucky and Indiana.

The Cincinnati region, however, is not alone when it comes to a stagnant population.

While Columbus was seen as a leader amongst big cities in terms of its domestic migration rate, it appears that Columbus is merely attracting new residents to its region from elsewhere in Ohio. Almost the entire Columbus MSA has a native born population between 60-80%.

The numbers are even worse for the Cleveland MSA, which, on average, has a percentage of native born population higher than the average for Ohio, Kentucky and Indiana. This is in spite of the Cleveland MSA attracting more international migrants than any other in the three-state region.

Even though Cincinnati continues to post modest annual population growth, it continues to be on the outside looking in when it comes to North America’s most economically successful cities. If Cincinnati wants to just focus on attracting existing Americans to the region, then it should look to Houston, Dallas or Atlanta, which are all hubs for domestic migration.

This scenario, however, seems unlikely since each of those regions is positioned uniquely in terms of their economy or their geographic location. So, if Cincinnati is to really ramp up its population growth, it better look at what other metropolitan regions are doing to make themselves more attractive to international migrants.

Perhaps Mayor John Cranley’s new, yet-to-be-unveiled initiative can help with this. But does he or his administration actually know what is going on underneath the hood?

Categories
Development News Transportation

VIDEO: UC Students, Transportation Experts Pitch Their Ideas for Wasson Corridor

As part of UrbanCincy‘s ongoing partnership with the University of Cincinnati’s Community Design Center, we gathered interested members of the public at the Niehoff Studio in Corryville on April 17 to view the work of students studying the Wasson Corridor.

As with previous events we have hosted at the Niehoff Studio, a capacity crowd attended to not only view the student work, but also participate in a panel discussion with regional experts on the topic. At this event, UrbanCincy‘s Jake Mecklenborg moderated the discussion.

The topic of discussion and the proposals put forth by the interdisciplinary students carried even greater weight as the City of Cincinnati allocated $1.9 million for a variety of bike projects, including $200,000 for the Wasson Way Trail. The City has also recently made an offer to purchase the Wasson Corridor for $2 million from Norfolk Southern who abandoned the rail line years ago.

While the Wasson Way Trail envisions a recreational bicycle and pedestrian trail running along the Wasson Corridor, many now view it as a component of a multi-modal transportation corridor that includes a long-planned light rail line.

Mayor John Cranley’s (D) administration appears to be focused on investing in recreational bike/ped trails, which is good, but the development of the Wasson Corridor should include both the proposed recreational trail and room for light rail tracks.

Fortunately, what was once viewed as a project that pitted light rail advocates against biking advocates has changed drastically since UrbanCincy‘s controversial editorial on the matter in 2012. There now appears to be broad consensus from both sides that the corridor should be developed in a comprehensive, multi-modal fashion.

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Arts & Entertainment News

URBANexchange Returns to Taste of Belgium in Corryville This Thursday

URBANexchange at Taste of BelgiumIt’s been a busy month for news, so what else could be better than a gathering with fellow urbanists to talk about it all?

General Electric will most likely either locate their new Global Operations Center at The Banks or in Oakley, Cincy Bike Share is rapidly advancing, the Central Parkway Cycle Track had all sorts of controversy, Toyota will relocate its North American headquarters to Plano, Texas, the Republicans in town are now all agush for the Cincinnati Streetcar, ground was finally broken on the second major phase of work at The Banks, and new tenants will soon open at Findlay Market.

Plus, on top of all that, we’ve had Jocelyn and John in Atlanta for the APA 2014 National Planning Conference, and Jacob running all around Colombia to check out their transport systems.

But nevertheless, URBANexchange will go on and we’ll be having this month’s event at Taste of Belgium on Short Vine in Corryville again. The last time we gathered here we were joined by Vice Mayor David Mann and a large group filled the room. And for this month, Councilmember Chris Seelbach and State Representative candidate Dale Mallory have confirmed their attendance on Facebook.

Due to all this recent news, we figure there will be lots to debate and gossip about, so try to make some time in your schedule to join us sometime between 5:30pm and 8:30pm at Taste of Belgium in Corryville.

This month we will be giving away two prepaid transit passes for Metro, who, by the way, recently updated their system maps to include other regional transit operators and show the route of the first phase of the Cincinnati Streetcar.

Those interested in attending can come and go at any time during the event, which is free and open to anyone who would like to participate. We do, however, ask that you kindly support our generous host by drinking and eating like a Belgian.

Categories
Business News

Cincinnati One of 30 Cities Worldwide to Participate in AngelHack Hackathon

Cincinnati will be one of 30 cities worldwide to participate in AngelHack’s spring Hackathon. The event will take place May 3-4 at UpTech’s campus in Covington.

Event organizers credit Cincinnati’s history of innovation and burgeoning tech culture as the reason for hosting the world’s largest hackathon competition, which first took place in December 2011 in San Francisco, and is expected to attract more than 6,000 developers and work on more than 1,500 projects.

“AngelHack’s new hackathon competition, The Whole Developer, will take place in 30 cities around the world and focuses on soft skills for developers, designers and entrepreneurs, guiding them towards better overall business acumen and an improved lifestyle,” Ian Chong, from AngelHack’s Global Outreach Team, told UrbanCincy.

The Cincinnati event, Chong says, will have developers participating in a two-day event that will include coaching from emotional intelligence and well-being experts, and even allow participants to work with yoga instructors.

The hope, organizers say, is that this spring’s event will develop participants in a way that makes them more well-rounded.

“The Whole Developer is a hacker that masters their technical and emotional intelligence, focuses on establishing a well-rounded lifestyle and strives for growth,” Sabeen Ali, AngelHack’s CEO, stated in a prepared release. “As innovators, we have the ability and responsibility to teach the industry, our employers and our predecessors better, healthier working habits and more well-rounded lifestyles.”

In addition to the technical and personal training, participants will also be competing for cash prizes and an opportunity to join AngelHack’s HACKcelerator program and a trip to San Francisco.

The event itself will kick-off on Saturday, May 3 at 9am and end the next at 1pm. Winners will then been decided and announced on Sunday at 3pm. Due to the marathon nature of the event where developers are anticipated to work for 24 hours straight, AngelHack will be providing food and pillows for those who need a brief moment to relax.

Chong says that AngelHack is looking for developers to work on projects that can “wow the crowd” and have the potential to improve peoples’ lives. Ideally, the projects should also be scalable in case the idea hits the big time. Product demos, he says, are also mandatory and participants are banned from using slide decks.

Overall, organizers are encouraging junior developers looking to improve their skills, senior developers looking to work more effectively with new members of the industry, designers of all skill sets and “serious” entrepreneurs that can add value to the teams.

Those interested in participating can register online. Additional information, a detailed schedule and tickets can be purchased through the event’s webpage as well.

CORRECTION: Event organizers have relocated the venue from the University of Cincinnati to UpTech’s campus in Covington. The event is now also free for everyone.