Tag: developments

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Business Development News

Ruth’s Chris Steak House signs on at The Banks

Project officials have confirmed that a Ruth’s Chris Steak House will open at The Banks development in downtown Cincinnati. The addition of the exclusive chain restaurant has been predicted since May 2011, but project officials have refrained from commenting publicly until just now.

The addition of the 9,600-square-foot Ruth’s Chris restaurant will bring the total retail occupancy at The Banks to approximately 82 percent following the recent announcement that Mahogany’s Cafe & Grill will also open a location along the central riverfront.

The upscale restaurant, officials say, will open within the two-level retail space at the northeast corner of Walnut Street and Freedom Way. It will be Ruth’s Chris second Ohio location.


The future home of Ruth’s Chris Steak House Cincinnati. Photograph by Jake Mecklenborg for UrbanCincy.

While 2012 has already been a busy time for economic wins at The Banks, expect another major announcement within the coming weeks.

City and County officials are currently in negotiations to find a new location for dunnhumbyUSA’s North American headquarters. The growing consumer analytics firm appears to have narrowed its search down to the surface parking lot at Fifth Street and Race Street, and the office tower pad located at The Banks which is immediately north of the new Ruth’s Chris.

Hamilton County officials would like dunnhumbyUSA to locate at The Banks to help accelerate the pace of development there, while some city officials have stated a preference for the troubled Fifth & Race location. In the end, Hamilton County seems to have more leverage given their stock of underground parking at The Banks.

Chris Monzel (R) has stated a preference to get out of the parking business, but county officials have stated that controlling parking within the central business district is a strategic move in order to help spur economic development. To that end, it would seem logical that county officials will use artificially low parking rates to lure dunnhumbyUSA to the site at The Banks.

It is projected that dunnhumbyUSA will have at least 500 employees at whatever site they choose, with room for growth. Such size would make the construction of a new office tower at The Banks economically viable and potential immediately spark construction.

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News Opinion

The Triumph of Downtown Cincinnati

The following editorial was published in the Cincinnati Business Courier on January 6, 2011. UrbanCincy shared this story with its followers, and received a slew of requests to share the story in its entirety.

Typically, premium content in the Cincinnati Business Courier is only available to paid subscribers, but thanks to our exclusive partnership with the weekly publication, UrbanCincy readers can read the story in its entirety below. Readers who would like to view all premium content from the Business Courier are encouraged to take advantage of a new subscription discount being offered to UrbanCincy readers.

Who would have figured, 10 or 20 years ago, that downtown Cincinnati would ever be described as “interesting” or “appealing”? A more oft-repeated characterization was that “they roll up the sidewalks at 6,” once the workday crowd headed off.

But local hotel and tourism officials are much more cheerful these days, according to our Insight focus on travel and hospitality this week. Senior Reporter Dan Monk writes that hotel occupancy in the central business district has jumped more than 20 percent since its low point in 2001, and convention business is booming.

And that’s because downtown Cincinnati isn’t what it used to be, in a good sort of way.

“There’s just more going on here,” says Wayne Bodington, general manager of the Westin Hotel, in Monk’s column.


Thousands crowd onto Fountain Square on December 31, 2011. Photograph by Thadd Fiala for UrbanCincy.

But while tourists seem to think that downtown Cincinnati is pretty lively, quite a few residents of Greater Cincinnati still cling to the notion that downtown is a dark and forbidding place, with empty streets, boarded-up buildings and flying bullets.

While the “empty streets” part once was true, at least in the evenings, downtown never was the desolate place some suburbanites envision; the number of Fortune 500 headquarters has always kept things humming, at least during the day.

And the business about high crime is illusionary – downtown has had exactly zero homicides in the past year, according to Cincinnati Police statistics. More likely people confuse downtown with the more crime-ridden neighborhoods of Over-the-Rhine and the West End, but even there, crime is decreasing.

In fact, according to the police department’s District One statistics, which include all three neighborhoods, violent crime is down 15 percent over the past two years, and property crimes have fallen 9 percent.

Cincinnati’s government is an ongoing magnet for insults, but the city deserves credit for what it’s done for downtown in the past 20 years. It kicked off the downtown living trend in the early 1990s, when it subsidized Towne Properties’ apartment projects on Garfield Place. And the formation of the public/private Cincinnati Center City Development Corporation (3CDC) speeded up the downtown living process, turned Fountain Square into an entertainment and restaurant venue, and began gentrifying large chunks of Over-the-Rhine.

Now, in the evenings, you can see people walking their dogs, crowding into bars and dancing to music on Fountain Square. That is, if you dare to come downtown.

It is the fate of Greater Cincinnati, and every sprawling American urban area, that some people live so far out in the suburbs that the city is nothing more to them than a mailing address.

And grumbling is part of Cincinnati’s culture, but why trash the city you call home, especially if you haven’t seen the center of it since the fountain was in the middle of Fifth Street and your mother took you Christmas shopping at Mabley & Carew and Pogue’s department stores?

Cincinnati will be hosting the World Choir Games this summer, bringing thousands of people into downtown and its environs. That would be a perfect time for entrenched suburbanites to make the day trip and see what Mr. Bodington is talking about, as well as participating in the festivities.

Or come down now, while you can ice skate on Fountain Square, and see what a difference a couple of decades can make.

The Business Courier offers a weekly print publication to its premium subscribers, and UrbanCincy readers have been offered an exclusive subscription discount. Those who do not wish to receive the weekly print edition can elect to become a premium digital member for just $49 through this exclusive offer being extended to UrbanCincy readers.

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Business Development News Opinion

Land swap could provide Port Authority immediate economic development opportunity

Hamilton County Commissioner Chris Monzel (R) has repeatedly stated that the county should not be in the parking business. In doing so, Monzel has suggested that Hamilton County sell off its parking assets at The Banks and elsewhere in downtown Cincinnati.

An exclusive UrbanCincy analysis shows that Hamilton County currently has approximately $38.7 million worth of parking assets at The Banks sitting on land valued by the Hamilton County Auditor at $10.4 million.

At the same time, Hamilton County and leaders from the City of Cincinnati keep working to find ways to work together. One of those strategies has led to the increased investment, by both the city and county, in the Cincinnati Port Authority. The idea, officials say, is that the Port Authority could become a Cincinnati Center City Development Corporation (3CDC) equivalent at the county level.

As leaders work with the Port Authority’s new CEO, Laura Brunner, they should explore selling or trading these parking assets to parking management companies that control potentially developable land elsewhere. Five unique locations come to mind throughout downtown Cincinnati.

4th & Plum:
This lot has long sat vacant, and had been speculated for a mid-rise condominium tower within the past decade. Nothing has happened, but UrbanCincy has previously opined that this collection of two parcels would be ideal for a small dog park and residential mid-rise, or even a small park designed to accommodate public debate. The 1.71-acre piece of land is valued at $6.1 million.


View Hamilton County Land Bank Proposal in a larger map.

7th & Vine:
Two small parking lots occupy this eastern portion of Vine Street at the edge of Piatt Park, and just north of Fountain Square. The property sits within a stretch of several blocks that include restaurants, nightclubs, bars and local shops.

A residential high-rise with street-level retail would seem to be an ideal candidate for this .6-acre plot of land in the heart of the city center. Previously, UrbanCincy has suggested that this street-level space might be a perfect, and centrally located, spot for a small urban grocery store. In total, the land and its improvements are valued at approximately $2.8 million.

Central & Walnut:
This particular site is chopped up into eight different parcels with various owners, but it is also located adjacent to the Hamilton County Administrative Offices, Hamilton County Courthouse, and sits immediately on the phase one route of the Cincinnati Streetcar.

In total, the .8-acre piece of land is valued at $2.3 million and would make an ideal site for an 8-10 story structure housing either offices or residences.

Court & Walnut:
Located immediately south of the previous site, this .9-acre location is valued at $2.3 million and will also be a prime location along the new modern streetcar line connecting the central riverfront with the northern reaches of historic Over-the-Rhine.

Similar to the 9th & Walnut site, this location includes seven different parcels owned by more than one entity, and would be well-suited for the same type of development.

9th & Main:
This .28-acre site is the smallest of all those identified, but has a total value of $904,000. While the site is relatively small, it also sits right on phase one of the Cincinnati Streetcar route, and would serve as an attractive residential infill site.

In total all of the sites would account for just over one-third of the total appraised value of Hamilton County’s parking assets at The Banks. UrbanCincy proposes that the county either sell off those assets at The Banks, and use the proceeds to purchase these non-county-owned sites, or trade those assets to parking management companies for their property downtown.

This endeavor would rid the county of the parking facilities it does not wish to maintain, while also seeding the Cincinnati Port Authority with new capital and resources to use for economic development activities. The end result would also create more tax generating properties on the region’s most valuable real estate.

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Business Development News

Construction to begin on $78M mixed-use development uptown

After lengthy delays, U Square at The Loop, a new mixed-use development planned for Calhoun and West McMillan streets just south of the University of Cincinnati’s campus, is finally set to begin construction in January.

For Clifton Heights, it means the largest development since University Park Apartments (UPA) was completed in the fall of 2005. But for residents, it will mean construction and traffic detours through much of 2012 that will transform a long-vacant piece of real estate into $78 million development.

The site once housed a smattering of drive-thru restaurants and a small collection of historic building stock, but was cleared in 2003 to make way for the development. The project then became entangled in a messy eminent domain case with Acropolis Chili and Inn the Wood restaurants which did not end until 2005 when UPA was completed across the street.


The $78M U Square at The Loop development is set to break ground in January 2012.

“While there is undoubtedly a lot of work converging at once, we have phased a lot of other work in prior years,” explained Clifton Heights Urban Redevelopment Corporation (CHCURC) director Matt Bourgeois in reference to various streetscaping projects, renovation of Classen Park in 2010, and construction of 65 West Apartments in 2011.

Developers anticipate groundbreaking on U Square at The Loop to take place in January 2012 on more than 150 apartments, two parking garages totaling 750 spaces, office and retail space. The final hurdle has been financing, and was finally cleared when the University of Cincinnati (UC) signed a lease on 40,000 square feet of office space for its Campus Services Department.

The lease signed by UC then triggered the signing of several retailers which had signed letters of intent on approximately nine-percent of the development’s total street-level retail space. Those retailers include DiBella’s Old Fashioned Submarines, Great Clips and Firehouse Subs.

Growing Pains
Final drawings and permit acquisition for the project are currently underway, with site excavation set to begin soon. Developers say that the project’s two blocks—one primarily office and one primarily residential—will undergo construction simultaneously, with the residential component set to begin in late February and the office component to begin in mid-April.

Though the smaller office block is expected to be complete by the end of 2012, developers do not expect the site’s residential component to be finished until July 2013. At the same time, city officials will continue streetscape improvements throughout Clifton Heights which will include two phases of work in the spring of 2012.

“Both projects are a part of the original urban renewal plan from 10-plus years ago and they are finally coming to fruition,” Bourgeois stated. “I wouldn’t discount the “growing pains” that are part of that, but I think that was to be expected and it becomes simply a matter of planning and managing a difficult scenario with the construction and maintaining good communication.”

A future phase of the development at U Square at The Loop includes the vacant “Gateway” site at Vine Street and Calhoun Street. There, a mid-rise office building is envisioned at what would become the junction between Uptown and Downtown streetcar lines.

“Our goals [set forth in the urban renewal plan] are being met and that is certainly something to celebrate,” concluded Bourgeois. “This is a continuation of that work, and another hugely positive step towards the rejuvenation of the Clifton Heights business district.”

Categories
Business Development News Transportation

New commuter bus hub opens in place of long-planned west side transit center

The brief tenure of Ohio Governor John Kasich (R) has been marked by repeated attacks on public transportation. Shortly after his inauguration, he returned a $400 million federal grant to begin passenger rail service between Cincinnati, Columbus and Cleveland. In April he corrupted ODOT’s Transit Review Advisory Committee, redirecting over $50 million allocated for the Cincinnati Streetcar to road projects in northern Ohio.

Lost amid these higher profile events was his rescinding of $150 million promised to the state’s transit agencies by former governor Ted Strickland (D). With its share, Queen City Metro planned to begin two new express services to Uptown. A direct service from West Chester fell victim to Kasich’s cuts, but with the help of a direct federal grant that Kasich could not block, Metro launched route 38X on December 5.

Each morning six buses now travel between Western Hills and all of Uptown’s major destinations including the University of Cincinnati, Good Samaritan Hospital, University Hospital, Cincinnati Children’s Hospital, Veteran’s Hospital and Christ Hospital. The only major employment centers not directly served are the various Children’s hospital offices housed in the old Bethesda Hospital and Vernon Manor Hotel.


Cincinnati officials celebrate the opening of the new Glenway Crossing Transit Center on December 9, 2011.

The 38X buses begin and end each day at the Glenway Crossing Transit Center, a new bus transfer station in the Glenway Crossing Shopping Center that also serves the #39, #64 and #77X Delhi Express. It features shelters, several dozen park & ride parking spots for commuters, and restrooms for bus drivers.

In concept the transit center resembles the dozen ‘transit hubs’ that were planned as part of the Southwest Ohio Regional Transit Authority’s (SORTA) 2002 Metro Moves plan. Although that plan was best known for its five light rail lines, a half-cent sales tax would have also funded a dramatic expansion of bus service throughout Hamilton County.

Glenway Crossing was built in the late 1980s in place of the Chesapeake & Ohio’s (C&O) disused Cheviot Yard. In 1981, shortly before the railroad’s abandonment, the yard and the line it served were the subject of the Westside Transit Study, produced by the Ohio, Kentucky, Indiana Regional Council of Governments (OKI), which examined construction of a light rail line from downtown Cincinnati, via the unused subway beneath Central Parkway, to an ambitious transit oriented development (TOD) in Western Hills.

The line would have emerged from the old subway just north of Brighton, crossed I-75 and the Queensgate railroad yard on a new viaduct parallel to the Western Hills Viaduct, then climbed to Glenway Avenue on the C&O tracks. Midrise office buildings were to have been the focus of the Cheviot Yard TOD. The unused subway under Central Parkway was to have been extended south under Walnut Street or Vine Street to a station at Fountain Square.

SORTA planned to fund construction of this line, as well as a network of other light rail lines, with a countywide transit sales tax that failed at the polls in 1979 and 1980. Without funds available to purchase the C&O railroad when it was abandoned, SORTA was helpless to stop the railroad from being sold to dozens of different buyers. The expense necessary to purchase the right-of-way by power of eminent domain precluded this line from being part of SORTA’s failed 2002 Metro Moves network.