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Development News Politics Transportation

Cincinnati to break ground on smaller streetcar starter route this fall

Today Cincinnati Mayor Mark Mallory and City Manager Milton Dohoney announced that the city will push forward with its modern streetcar project even with recent setbacks. The announcement included the debut of a new shortened phase one routing that will run from Fifth Street in the Central Business District to Henry Street in Over-the-Rhine just north of Findlay Market.

The 3.1-mile route will cost $95 million to build and $2.5 million annually to operate. City leaders currently have a total of $99.5 million to build the line, and have conservatively identified $4.1 million to operate the line annually. City leaders say that this will mean no money will be needed from the City’s General Fund for operations.

While some supporters have expressed discontent over the shortened Cincinnati Streetcar route, Mayor Mallory emphasized that the long-term vision has not changed.

“The vision for the project remains the same. We are going to build a streetcar that connected Downtown to Uptown, and then we are going to build out into the neighborhoods,” explained Mallory. “We are going to get started with the funding that we have in hand, but we must move forward in order to attract jobs and residents to our region.”

Project officials say that the shortened line will operate 18 hours a day, seven days a week and will utilize five streetcars instead of the original seven planned for the longer route. The shortened route, city leaders say, was chosen based on its unique ability to maximize economic investment.

“Over-the-Rhine and portions of the downtown area have some 500 vacant buildings, and it is where you have the bulk of the 95 acres of what today is surface parking,” City Manager Dohoney told the audience. “The explosiveness of the development potential rests in the area that we’re covering.”

City officials also announced that they are exploring the idea of running the streetcars on battery power instead of electricity. This technology is currently being examined for Washington D.C.’s modern streetcar system where concerns have come up over the use of overhead electric wires. Cincinnati officials believe that such a move would also reduce costs upfront and long-term.

The city says that it expects to break ground on the modern streetcar system this fall, and will simultaneously work to raise additional funds to build the system’s extension to uptown, and reconnect with The Banks to the south which in and of itself costs an additional $9 million.

“Clearly there is a need to expand the tax base. No one wants to pay more taxes, so we must find a proactive step to take to expand the existing tax base,” City Manager Dohoney explained. “A streetcar is one such tool to do that. There are people that have issues with this project, and there are folks that are responsible for moving this city forward. We are unapologetic advocates.”

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Business Development News

Developers, city leaders welcome first residents to $80M first phase of The Banks

Developers and city leaders gathered at The Banks development along Cincinnati’s riverfront to welcome the first residents of the $80 million first phase of the project called Current @ The Banks.

Over 60 percent of the project’s initial 300 residential units have been leased. The first phase includes two, five-story buildings bounded by Main Street to the east, Walnut Street to the west, Second Street to the north and the Cincinnati Riverfront Park to the south.

Last month the Carter/Dawson development team welcomed the first retail tenant to the development when the Holy Grail Tavern & Grill opened at the corner of Main Street (Joe Nuxall Way) and Freedom Way. Additional retail tenants including The Wine Loft, Toby Keith’s I Love This Bar & Grill, La Crepe Nanou, Johnny Rockets, Huey’s 24/7 Diner will open over the next several months as interior finishes are completed on the 96,000 square feet of retail space.

UrbanCincy photographer Jake Mecklenborg attended a ribbon cutting ceremony this morning that welcomed the development’s first residents. Mecklenborg then took a tour of some of the available apartments that range in price from $800 per month to $2,400 per month for a two-bedroom, two-bath luxury apartment overlooking the Ohio River. Those interested in touring the apartment units are asked to contact leasing agents at (888) 277-6611, or by visiting the project’s leasing website.

Categories
News Politics Transportation

Ohio’s TRAC prepares for large public turnout, changes rules for Cincinnati Streetcar hearing

On March 23, Ohio’s Transportation Review Advisory Council (TRAC) was greeted by 32 Cincinnati Streetcar supporters. The residents and business owners went to Columbus to let their voice be heard on the state’s highest-rated transportation project that appeared ready to be gutted by a new administration set to cancel all investments in rail transportation.

The presence of these individuals not only came as a surprise to many on the council, but also made several of the members reconsider the idea of making the state’s highest-rated project shoulder 52 percent of all proposed cuts in a “fiscal balancing” effort.

“The number one rated project is recommended to take the brunt of the cuts…that’s a problem for me,” William Brennan stated at the March 23 meeting.

Other council members, UrbanCincy‘s Jenny Kessler reported, shook their heads in agreement with Brenna as he made the statement. Fellow council member Antoinette Maddox suggested that all new projects be sunsetted, or that cuts be made to lower-ranking projects to avoid such drastic cuts to the state’s highest-rated transportation project.

The public comments and debate made no impact on the TRAC’s recommendation that day as they followed marching orders to cut 100 percent of the Cincinnati Streetcar’s state administered funding.

The results of the meeting, combined with an “unprecedented attack” on the streetcar project from Governor Kasich, lit a fire within many Cincinnatians who have supported the streetcar project for years. Groups began organizing to continue to show the TRAC their support for the project at the upcoming April 12 meeting where they will hold a final vote on the recommendation to strip the Cincinnati Streetcar of $51.8 million.

Anticipating a large turnout for the April 12 public hearing, the TRAC has rewritten its speaking guidelines for such meetings. At the April 12 meeting only, the TRAC has restricted public comment to 40 minutes for the Cincinnati Streetcar project. Opponents will be allotted 10 speaker positions getting two minutes each. Supporters will get only seven positions with two minutes each, plus an additional six minutes for a representative from the City of Cincinnati, totalling 20 minutes.

The TRAC has also stated that Room GA, in which the meeting will be held, will be open to the public beginning at 9am. The council also states that overflow seating will be provided in Room GB if necessary. The meeting is scheduled to start at 10am.

Cincinnati Streetcar supporters photograph by Sherman Cahal.

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Arts & Entertainment Business Development News

Get sneak peek of nearly completed first phase of The Banks tomorrow

As the Cincinnati Enquirer so often likes to remind us, The Banks has been decades in the making, and after much political infighting, the project is finally coming to fruition. The massive mixed-use riverfront development project saw its first business open on St. Patrick’s Day and will soon start welcoming hundreds of new residents.

Developers have decided to invite those interested along for a tour of the $90 million first phase (map) that is nearing completion on Wednesday, March 30. The event is free, but reservations are required in order to participate in one of the two tours.

Tours will meet in from the National Underground Railroad Freedom Center and will begin at 4:15pm and 4:30pm. Following the tours, there will be happy hour drink specials and light appetizers at the Holy Grail Tavern & Grille. Those who wish to attend one of the tours are asked to contact Mary Kathryn Kennon at mkennon@carterusa.com (please indicate preferred tour time in RSVP email).

For fun, you can also RSVP to the event’s TwtVite page brought to you by UrbanCincy and The Banks Master Development Team.

The Banks phase one photograph by Thadd Fiala for UrbanCincy.

Categories
Business Development News

Residential development thriving in historic Over-the-Rhine

While Cincinnati deals with the news from the U.S. Census Bureau that the city lost 10 percent of its population over the past decade, there is positive news from the city’s urban core. The Central Business District had a gain of more than 20 percent, while Clifton Heights, University Heights, downtown Covington and Newport, and portions of Over-the-Rhine saws gains of 10-20 percent.

The news is particularly encouraging for Over-the-Rhine which has seen its population decrease from more than 50,000 people at its peak, to roughly 10,000 people today. The most growth in the historic neighborhood occurred in the areas where the Cincinnati Center City Development Corporation (3CDC) has focused its energies over the past five years.

“The renaissance of Over-the-Rhine continues block by block and building by building,” says Cincinnati Mayor Mark Mallory. “It is clear that people want to live in our urban core and want to be a part of the rebirth that is happening. We are going to continue to restore this historic neighborhood back to a vibrant and active community.”

The next phases of redevelopment in Over-the-Rhine are just now coming to life along Race Street. On Tuesday, March 29 3CDC will gather with the NorthPointe Group and John Hueber Homes to celebrate the opening of Westfalen Lofts. The three previously vacant buildings have been transformed into nine residential units that include townhomes, flats and a single-family residence.

“This is the first development where we have partnered with John Huber Homes,” stated Chad Munitz, Executive Vice President of Development and Operations at 3CDC. “We feel they bring a new look to the historical residential units that we have not yet seen.”

Since 2005, 3CDC has spearheaded the creation of 234 new residential units. Of those 234 residential units, 74 percent of the 182 condominiums have been sold. Additionally, 100 percent of the 52 rental units, with the 32 units in Parvis Lofts being leased in just ten weeks.

Race Street redevelopment photograph by Jake Mecklenborg for UrbanCincy.