Tag: developments

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Development News

New Western Hills Viaduct Could Arrive in Late 2020’s

The Western Hills Viaduct, built as part of the Union Terminal project in the early 1930s, is nearing the end of its useful life and will soon need to be replaces at a cost of $300 million.

City officials recently unveiled plans for a new Western Hills Viaduct to replace the 84-year-old structure.

Built in 1931, the viaduct serves as the West Side’s main connection to the city’s urban core. “It affects everybody,” said Cincinnati City Engineer Richard Szekeresh, the project manager. Over 71,000 vehicles cross the bridge every day. However, a city study back in 2012 highlighted the bridge’s deteriorating structural conditions and the poor pedestrian and bicycle accessibility.

The current viaduct is a car haven. Vehicles zoom by a single, narrow sidewalk along the southern edge and cyclists are rare. According to Department of Transportation and Engineering officials, the new structure will be pedestrian- and bicycle-friendly and built to light rail specifications.

Wester Hills Viaduct NewNew cable-stayed design presented by DOTE

Design

Heading west, the current bridge passes over Interstate 75, the CSX Queensgate rail yard, and then deposits cars onto Queen City Avenue in South Fairmont. Queensgate posed a significant problem for the engineers because they couldn’t shut down a privately-owned and high-trafficked rail yard for several years. “We had to find a way to build only from above,” said Szekeresh.

Two design features overcome this constraint. First, the cable-stayed bridge (shown in the renderings) has large distances between its support towers that (mostly) avoid the yard. Second, the physical structure consists of several interlocking parts, meaning the builders can simply insert the relevant pieces into place without much delay. Some rail lines will still be affected, but never for more than a few hours.

Traffic concerns ensure the old bridge will remain in use until its replacement is erected just to the south. The Ohio Department of Transportation (ODOT) must acquire several land parcels. All of them have been appraised, but ODOT must complete its environmental review before it can purchase the properties.

Funding

Total project cost hovers around $310 million, a substantial hike from the city’s previous estimate of $240 million. Federal funds will cover 80 percent, with the city, county, and state covering the remaining funds. Szekeresh indicated that the project could receive a $20 million Transportation Review Advisory Council grant from the Ohio Department of Transportation.

When federal funding will arrive, however, is unclear. Extensions to the projected 2028 end date may be necessary, especially if President-elect Trump reneges on his promise to improve infrastructure.

After the presentation ended, Szekeresh conducted an informal poll to gauge support for the design. Most community members raised their hands in affirmation.

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Development News

New Market Tax Credits Key to City’s Revival

Cincinnati’s development coffers got a little fatter last week, as $125 million in federal tax subsidies flooded into the city. These subsidies, called New Market Tax Credits (NMTCs), incentivize local investors to funnel capital into low-income communities and have essentially bankrolled Over-the-Rhine’s entire revitalization.

For example, Washington Park — perhaps the most emblematic example of OTR’s rebirth — received nearly $14 million in New Market Tax Credits (NMTC) from the Local Initiatives Support Coalition (LISC) to help support its reconstruction. Several ongoing developments have also received some or all of their funding through NMTCs, including the Market Square and Ziegler Park projects.

Ziegler Park Aerial
New Market Tax Credits helped transform parts of Over-the-Rhine like the reconstruction of Ziegler Park (Photo by Travis Estell)

Developers often balk at the prospect of developing low-income communities because they fear their investment will be wasted. NMTC are the federal government’s attempts to allay these concerns. Congress first authorized the subsidies through the Community Renewal Tax Relief Act of 2000. Over the past fifteen years, the bill’s success has earned it bipartisan support. According to the program’s 2016 report, the tax credits have created 750,000 jobs and invested over $75 billion to businesses and revitalization projects in communities with high rates of poverty and unemployment.

Less than 25 percent of the applications submitted each year are awarded, but three major Cincinnati developers beat the odds this year: Cincinnati Development Fund ($65 million), Uptown Consortium (45 million), and the Kroger Community Development Entity ($15 million).

To win an NMTC grant, a corporation — in federal parlance, Community Development Entities (CDE) — must lobby the U.S. Treasury’s Community Development Financial Institution (CDFI) Fund on behalf of private investors like the Cincinnati Center City Development Corporation (3CDC). If the CDFI approves the application, then the investors who pledged money to the CDE will receive a seven-year tax abatement to support development.

3CDC, in particular, has secured a eye-popping $238 million since the program’s inception. Without this capital, it’s unlikely that OTR would have changed as drastically as it has. The community was a no-brainer for NMTC-driven development due to its extreme poverty. The neighborhood’s median household income during the 2010 census was a paltry $14,517. Six years and billions of dollars have certainly improved its lot, but its average income still pales in comparison to the city’s 2015 median income, $56,826.

While OTR will likely continue to receive the majority of NMTC-driven development, other distressed neighborhoods are receiving attention. According to Director of Development Thea Munchel, the Walnut Hills Redevelopment Foundation expects approximately $6.5 million in NMTC Equity for its expected revitalization of Paramount Square. “It is too early to know who all will participate in the deal,” she said. “But Cincinnati Development Fund received a huge award and has indicated that they will contribute some into the project.”

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Arts & Entertainment News

New Group Launched to Focus on Midwest Urbanism

Great places are often referenced as places where people gather in urban centers around the world. In Cincinnati places like Fountain Square and Washington Park are often associated as the City’s front lawn or back yard. Streets are often referenced as great places such as Vine Street in Over-the-Rhine (OTR), Hyde Park Square or Madison Avenue in Covington. These places usually already exist, are reclaimed and sometimes created brand new.

Creating great places not only involves understanding what makes places great but also spreading awareness, education and building partnerships to do the hard work of revitalizing and celebrating the urban environment. That is the central mission of the proposed new Midwest chapter of the Congress for New Urbanism.

The group was engaged by the national Congress for New Urbanism (CNU) to create a regional chapter of the organization spanning from western Pennsylvania to central Indiana and from Lake Erie to Lexington Kentucky.CNU Midwest

They are having their first event which will be an introductory meeting and happy hour tomorrow May 17, at Graydon on Main in OTR.

CNU-Midwest is working to advance the issues of revitalizing urban neighborhoods in cities and towns across the region. The organization has three central goals including reclaiming public space for people, reactivating and reconnecting vibrant neighborhoods and championing urban development that is enduring, adaptable and human scaled.

“The ultimate goal is the reimagining and repopulation of our urban cores and inner ring neighborhoods,” said Chapter Organizing Committee Chairperson Joe Nickol told UrbanCincy, “Starting at the level of the street and continuing up through the neighborhood, town, city, and region, we encourage the development of great, equitable, urban places where all people can enjoy all aspects of daily life.”

By launching the CNU Midwest Chapter, the group aims to positively influence the dialogue around healthy urban policy and design within Midwestern cities.

This event which is from 5:30pm to 7:30pm is open to the public and will serve as an introduction to the group and networking opportunity for attendees. Anyone interested in participating can sign up here.

Graydon on Main is located at 1421 Main Street in OTR. There is a Cincy Red Bike station across the street and is easily accessible via Metro bus routes #’s 16,17,19,24.

The CNU is a national 501c3 organization which is dedicated to the cause of helping to create and advocate for vibrant and walkable cities, towns, and neighborhoods where people have diverse choices for how they live, work, shop, and get around. CNU’s mission is to help build those places.

UrbanCincy is a media partner for CNU Midwest and a promotional partner for CNU24, the organizations annual Congress which is being held next month in Detroit.

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Development News

High Profile $35M Hyde Park Condo Building Officially Topped Out

2770 Observatory (Provided)

The corner of Observatory and Shaw Avenues now looks much different than it did a year ago. Yesterday, development of 2770 Observatory, a 30-unit luxury condominium project by Greiwe Development officially topped out with a ceremony at the site. The project, which we reported on back in May of 2014, has transformed the corner with the demolition of several apartments that were formerly on the site.

At the ceremony, Mayor John Cranley (D) marked the occasion by proclaiming November 10 “Hyde Park Landmark Day,” recognizing the neighborhood’s historical charm, signature places and 2770 Observatory’s place as its newest landmark. The $35.5 million modern four-floor structure will stand as a gateway to the neighborhood with future residents just steps from Hyde Park Square.

With 16 of the 30 units pre-purchased, the development is expected to sell out before it opens in summer 2016.

Topping Out ceremonies are a Scandinavian custom dating back to 700 A.D. thought to bring good luck to future occupants. After remarks from project developer Rick Greiwe and Mayor Cranley, the event concluded with the traditional raising of an evergreen to the top of the building’s newly completed wooden framework.

2770 Observatory is the fifth Greiwe lifestyle development in the Cincinnati area since the grand opening of Mariemont’s Jordan Park in 2008. In October, Greiwe, with a group of developers known collectively as Gateway Partners LLC, was selected to develop a 12-acre site adjacent to downtown Montgomery, where he will build high-end condominiums as part of an urban in-fill village.

“We choose to build our projects in neighborhoods where dining, shopping and entertaining are within one block of the resident’s front door,” said Rick Greiwe, principal of Greiwe Development in a prepared statement, “Hyde Park Square is the ideal location for one of our developments. It’s in demand and draws people from around the whole city. I’ve been watching it for sometime — waiting for the ideal site to become available, and this is absolutely it.”

2770 Observatory features three bedroom and two bedroom units with large foyers and open entertaining areas. With 10-foot ceilings and 8-foot windows, the units range in size from 1,915 to 4,675 square feet. Each unit has its own balcony or patio. The building has an underground parking garage, and a resident pathway leads from Linshaw Court to Michigan Avenue and Hyde Park Square. Prices range from $700,000 to $2 million.

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Development News

PHOTOS: First Phase of Pendleton’s $26M Broadway Square Development Taking Shape

Construction moving along E. 12th street

The first phase of Broadway Square in Pendleton is on schedule for completion later this fall. Recently, UrbanCincy had a chance to tour the construction of the project.

This is the first of three phases in the $26 million Broadway Square development. The buildings are being developed by Model Group, and the leasing of the retail and office space is being managed by Urban Fast Forward. Once completed, phase one will include 39 market rate apartments, 8,000 square feet of office and four retail spaces.

The development is located close to Horseshoe Casino and is adjacent to the recently renovated Spring Street Plaza & Playground and “multi-sensory and interactive” Spinnradl sculptures.

EDITORIAL NOTE: All 17 photos were taken by John Yung for UrbanCincy in late July 2014.