Tag: developments

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Business News

Downtown Cincinnati experiences strong progress during recession

If Cincinnati is our home, then downtown is akin to our city’s kitchen. Downtown is where we, as a community, watch television (Fountain Square), downtown is where we eat, and downtown is where we complete our financial transactions. This is the analogy Mayor Mark Mallory used at the 2010 State of Downtown meeting held this past Thursday, April 29th.

Mayor Mallory also likened downtown to an engine that is “hot and running well” at the Annual Member Meeting hosted by Downtown Cincinnati Inc. (DCI). The positive 2009 report identified several positive indicators during one of the most difficult economic years the nation has seen including:

  • $116 million in completed construction and renovation project with another $1.6 billion in projects currently in progress
  • More than 445,000 square feet of office expansions, renewals and relocations in 2009
  • 30 new retail/restaurant/entertainment establishments opened in the central business district
  • 140 single family homes were sold, keeping population growth consistent with projections
  • $59 million economic impact of total room nights marked a record setting year for hotels
  • The Main Library, Cincinnati Museum Center, Krohn Conservatory and Fountain Square all posted record attendance years
  • Overall crime rate for the central business district/riverfront was down double digits in Part 1 and Part 2 offenses over the past decade, helping make Cincinnati the 7th safest city for pedestrians out of the nation’s 52 largest metro areas
  • DCI’s 3rd annual pedestrian count study showed a continued increase during peak weekday times (11am to 2pm), and a total increase of 20% in pedestrians during the evening hours
  • A partnership with the Hamilton County Department of Pretrial Services and the County Jail, University Hospital, Summit Behavioral Healthcare and others to identified the top 16 high risk panhandlers; placing 3 of the 16 cases in permanent housing to date

The meeting, which lasted for just a little over an hour, also included remarks from the Senior Regional Officer of the Cincinnati/Cleveland Branches of the Federal Reserve Bank Dr. LaVaughn Henry, Hamilton County Commissioner Greg Hartmann, Cincinnati City Manager Milton Dohoney, and DCI president David Ginsburg.

The speakers focused on the importance of economic development in the greater downtown areas, each bringing a different viewpoint to the podium. Commissioner Hartmann spoke briefly about the importance of downtown to all of Hamilton County and the region, while using the casino development as a prime example of how to get the public excited and involved in the development process. Dr. LaVaughn Henry addressed the national economic recession and stated that while unemployment is still high here in Cincinnati and across the country, the rate of job loss is slowing and consumer confidence is on the rise.

Downtown Cincinnati’s population has experienced steady population growth since 2005, and is expected to double by 2012 with the continued renovation of Over-the-Rhine and the opening of The Banks.

City Manager Milton Dohoney stressed the importance of taking risks, while also being cautious in our approach. His remarks on economic development revolved around the creation of new jobs, smarter land use, and partnership and investment in our community.

“Big steps equal big gains,” Dohoney commented in regards to taking risks. “We must work on expanding our tax base, while also proving that we are an inclusive community.”

Following the meeting, UrbanCincy caught up with DCI President David Ginsburg where he discussed the importance of projects like The Banks and the Broadway Commons Casino ultimately not becoming a single destination. Ginsburg also brought up the importance of “zoning flexibility” when it comes to downtown vacancy issues.

“Our primary role is to enhance downtown’s potential as a vibrant, clean and communal place that attracts employers, art, music and the creative class,” Ginsburg stated. “We must continue to improve downtown’s perception by getting more people downtown to witness the improvements firsthand. You wouldn’t buy a new car until you test drove it, so we need to get more people to test drive downtown.”

Categories
Development News

New renderings, details released on $46M Washington Park renovation

A $46.2 million renovation and expansion of Washington Park is shaping up as one of those transformational projects that help push a neighborhood on the rebound even further. Throughout the first decade of the 21st Century, Cincinnati has seen just this happen with the renovation of Fountain Square downtown. Now as Over-the-Rhine continues to open new residences and businesses, projects like the Cincinnati Streetcar and the renovation and expansion of Washington Park may finally push the long-troubled neighborhood into wide-reaching prosperity.

The Washington Park project will include a $21.6 million, two-level underground parking garage that will lie beneath a 2-acre expansion of the park to 14th Street. The completed 500-space underground parking garage will mirror designs often found in dense European cities and that found at Fountain Square in downtown Cincinnati where an underground garage is integrated underneath the public space.

One of the major sticking points with the overall project has circled around the financing to make it happen. At the Cincinnati Center City Development Corporation’s (3CDC) OTR Work Group meeting last week, officials secured nearly $21 million of the total $46.2 million needed to complete the project, with the remaining $25.2 million identified and pending approval.


Music Hall Plaza sits in front of the new Civic Green at the expanded Washington Park [TOP]. The new interactive water feature integrates a new element to the historic park in place of the pool that once sat next to the elementary school [BOTTOM]. Images provided.

The renovation of Washington Park will also create a central gathering space directly across the street from Music Hall’s main entrance on Elm Street called the Music Hall Plaza. Music Hall Plaza will then flow directly east into a newly created civic lawn space that will cover roughly the size of a football field. On the south side of the Civic Lawn a new water feature will be created that will lead all the way to the park’s historic bandstand.

The historic bandstand centrally located in Washington Park will be restored and “modernized for contemporary use” according to officials at 3CDC. Those enhancements will include audio/visual upgrades and the addition of a dramatic new lighting canopy encompassing the area surrounding the bandstand.

The historic bandstand will be upgraded and include a dramatic new lighting scheme [LEFT]. The $46M project will transform and expand one of Cincinnati’s oldest parks [RIGHT]. Images provided.

One of the more anticipated features of the newly renovated Washington Park is a roughly 1/4-acre dog park to be located immediately west of the historic bandstand along Elm Street. The dog park will add a second dog park to Cincinnati’s under-served urban core that has been experiencing tremendous population growth over recent years in both people and dogs.

Officials are finalizing the financing components and designs now and hope to begin construction work by summer 2010. Should construction begin at that point, a fall 2011 completion date is targeted.

Categories
Development News

The Banks development team releases new website, renderings for $600M development

The progress being made at The Banks development along the Ohio River in downtown Cincinnati is palpable. Underground parking garages have been built to lift the development out of the 100-year flood plain and provide parking spaces for those living, working and visiting Cincinnati’s central riverfront. With that complete, the buildings that will house 300 apartments, retail and office space are now rising on the eastern portion of the site near Great American Ball Park.

The development team responsible for the $600 million private investment has now released a new website, updated renderings for Phase 1 of the project and has begun a branding and marketing campaign intended to “define and illustrate” what it will be like to live, work and play at The Banks. The new campaign focuses around a slogan of “It’s happening on the river” and includes a new logo in addition to the new website and marketing effort.

“I think after all these years, it’s hard for people to believe that things are finally happening at The Banks,” said Malloy Peterson, vice president of marketing at Carter. “This campaign, along with the ongoing construction now visible at the site, will help change that perception and start to build interest among the community that The Banks is really taking shape.”

The updated renderings illustrate the large sidewalks that will accommodate the many visitors and residents of the mixed-use development. The mid- and high-rise structures will include street-level retail that has apartments with balconies or office space on the upper floors.

Residential development above street-level retail spaces looking east along Freedom Way towards Great American Ball Park [TOP]. Corner retail development at 2nd & Main streets [BOTTOM]. All images provided by Carter and The Dawson Company.

“Throughout all aspects of this project, we’ve been steadfast in delivering a development that creates excitement and interest throughout Greater Cincinnati,” said Harold A. Dawson, Jr., president and chief executive officer for The Dawson Company. “With a grand opening a year away, this new campaign brings to life our team’s vision of The Banks.”

Those interested in living at one of the 300 apartments in Phase 1 of The Banks can now contact Kristi Fickert from Village Green Management at (888) 371-7241 or by email at liveatthebanks@villagegreen.com.

Both the private and public portions of the overall development are currently on-schedule, and will see the underground parking garage to the east of the National Underground Railroad Freedom Center open this June 2010, with a grand opening of the private development portion scheduled for spring 2011. Once fully built-out, The Banks development will house more than 3,000 new residents and will be Cincinnati’s largest single, mixed-use development composed of residential, office, hotel and retail components.

Categories
Development News

LEED building practices helping turn around Covington neighborhood

Two new homes in Covington have been awarded LEED certification by the U.S. Green Building Council (USGBC) for their green home building and design. The two homes become some of the first LEED certified homes in Kentucky, with the home at 520 Thomas Street being the first home to achieve LEED Gold.

The home was built by the Center for Great Neighborhoods (CGN), with assistance from the Local Initiatives Support Corporation (LISC) of Greater Cincinnati & Northern Kentucky and the City of Covington, and incorporates a variety of sustainable design features that include low-flow plumbing, low-e windows, EnergyStar-rated appliances, high efficiency HVAC systems, recycled construction materials, bamboo flooring, sustainably-harvested wood moldings and more. In total, the green building features of the new home scored the project 78.5 out of 136 total points possible in the LEED for Homes certification – Gold status projects must score between 70.5 and 85.5).

“As a LEED certified home, 520 Thomas Street serves as a model of greener living for the entire community,” said Nate Kredich, Vice President of Residential Market Development for the U.S. Green Building Council. “The home is at the national forefront of quality; and their example can help us all to live better by reducing our environmental footprint, cutting our utility bills, and coming home to a healthier place to live.”

The new homes are part of a larger revitalization wave happening in the Austinburg neighborhood of Covington which is bordered by the Licking River and the proposed Licking River Levee Walk.

“The Center for Great Neighborhoods aims to make Covington a place where people choose to live, work, and play,” Rachel Hastings, Director of Neighborhood & Housing Initiatives with CGN, described. “We built homes on a formerly vacant lot in Covington’s Austinburg neighborhood at the request of the Austinburg Neighborhood Association in an attempt to increase home ownership and remove blight.”

Hastings explained that the CGN uses its housing development program in a targeted effort to increase property values, reduce blight and increase high-quality affordable market-rate home ownership. She is also excited about the positive impact the Seneca Place development is having on the neighborhood which is seeing its first new construction in over 50 years.

“When neighbors saw the new homes being built, it helped restore their confidence in their neighborhood and encouraged them to make improvements on their home because they saw that they could get a return on their investment,” explained Hastings. “The homes also show that, for a reasonable price, you can build LEED Gold homes that are easy for the average homeowner to maintain.”

The new homes also mean an addition to Covington’s tax base and new residents populating Covington’s urban core. The success is planned to continue as CGN owns additional lots in the Austinburg neighborhood where it plans to construct an additional eight homes, and invest another estimated $1.6 million into the immediate area.

520 Thomas Street construction photograph provided.

Categories
Development News

Cincinnati Port Authority lands $1M grant for brownfield redevelopment

The U.S. Environmental Protection Agency announced yesterday that the Port Authority of Greater Cincinnati has been awarded a $1 million grant that will be used to investigate contaminated properties throughout Hamilton County referred to as brownfields.

The $1 million grant is broken up into two separate categories that includes $800,000 to investigate properties contaminated with hazardous substances, while the remaining $200,000 has been earmarked for the investigation of properties contaminated with petroleum.

Brownfield sites are more problematic to redevelop due to the contamination of the site that is often very costly and time consuming to clean. As a result it is quite typical that government agencies assist in such remediation processes in the form of financial assistance or liability deferral. Most recently the City of Cincinnati pledged to assist Boston Beer Company in its expansion efforts that include the redevelopment of a contaminated property adjacent to their existing West End operations.

“Returning brownfield sites to productive use has tremendous benefits for Cincinnati and Hamilton County,” said Port Authority President Kim Satzger. “A clean site is an enduring contribution to our environment and our economy.”

The collaborative effort between the Port Authority, City of Cincinnati and Hamilton County will focus on priority areas identified in the GO Cincinnati report including the Mill Creek Corridor, Madison Road Corridor and Seymour/Reading Road Corridor.

“As Greater Cincinnati’s industrial base declined, many Hamilton County communities were left with a legacy of abandoned and underutilized properties,” said Christine Russell, Director of Brownfield Development at the Port Authority who believes that the grant money offers an opportunity to continue to redevelop affected properties throughout the county.

According to the Port Authority, since 2001 it has worked on nine brownfield sites in Hamilton County, returned 157 acres of land to productive use, removed over 80,000 tons of contaminated soil, captured nearly 384,000 gallons of polluted water, recycled more than 1.7 million tons of steel and over 164,000 tons of concrete. Port Authority officials estimate that these projects have resulted in a $1.35 billion annual economic impact and supported 13,793 jobs.

Brownfield clean up work photo provided.