Tag: developments

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Business Development News

Gateway Quarter retail spaces filling up

The new residential units, in the Gateway Quarter, boast exposed brick walls, original support beams, hardwood floors (in some cases original), very unique floor plans, and a prime location in the heart of what will soon be Cincinnati’s premier neighborhood. Well guess what, the retail spaces have all that too, and they are filling up quite nicely right along with their residential counterparts.

The area already has 11 unique retail establishments, the most notable being Park + Vine (a ‘green’ general store) and Lavomatic (urban wine bar by Jean Robert). Many of them have been there for over a year and are now about ready to be joined by three new additions.

The Little Mahatma (513-723-1287) is relocating its jewelry, art and artifacts store from its previous location, on Main Street behind the Aronoff Center, to 1205 Vine Street and will also be celebrating its 20th year in business. The Little Mahatma will be open M-F 11am-7pm, Saturday 11am-6pm and Sunday 12pm-4pm.

Switch (513-721-8100) is opening up at 1207 Vine Street and will have lighting fixtures for your home and office highlighting current designs from North and South America, Europe and Scandinavia. Hours for Switch will be M-F 11am-7pm, Saturday 12pm-6pm and by appointment.

Incredible Creations (513-961-4111) is the third establishment that will be opening up with the other two this Fall, and will be located at 1209 Vine Street. This upscale barbershop and beauty salon will offer a host of services and will be the first service related business to the Gateway Quarter. Hours for Incredible Creations will be T-Th 9am-8pm, Friday-Saturday 8am-7pm, closed Sunday and Monday.

All three are excited about their new locations echoing similar comments of one another that the neighborhood is becoming a magnet for unique retail options and that they want to be a part of the urban renaissance that is occuring in Cincinnati.

The new shops plan to be open for the Downtown Tour of Living on September 27th where the Gateway Quarter will once again be prominently featured. Official grand openings will be coming later, after the Tour, bu t those attending the Tour will be able to go through and check out the new places.


Park + Vine (a ‘green’ general store) in the Gateway Quarter
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News

Historic Enquirer Building to See New Life

The historic art deco style Enquirer Building, built in 1926, has seen better days. What used to be home to Cincinnati’s daily newspaper until the 1980’s, is now a class “C” office building with an abysmal 16% occupancy rate.

With nearly three decades of hard times, the “Grand Lady of Vine Street” is ready for her makeover. In May 2007, Middle Earth Developers (MED) purchased the building with plans to renovate and develop the historic structure into a mixed-use building consisting of apartments, office and retail space, and parking. Thanks to some historic tax credits and private financing the $37,399,000 project is now ready to move forward, with a projected completion date of Mid-2009 (office) and May 2010 (apartments).

Retail space will remain at street-level, 53,400 sf of office space will take up floors 2-3, and 152 apartments will take up floors 4-14. 170 parking spaces will also be made available by retrofitting the basement mezzanine levels (previously held 10-ton printing presses) into a 3-level private parking garage.

Glenn Kukla, partner of MED, says that there will be a mix of studio, 1br, 1br/1 den, and 2br apartment units. These units will boast features such as free/dedicated wi-fi access, stainless steel appliances, washer/dryer hookups, hardwood/polished concrete floors, lofted kitchen and bathroom areas, and private parking.

While the project has lots of amenities, Kukla states, “the biggest amenity by far is that the building is a half-block away from the newly renovated Fountain Square.” The building will also be modified to include a new rooftop deck, clubhouse and fitness facility next to the rooftop deck, public conference room and business center, and coin operated laundry/vending facilities.

All images provided by Middle Earth Developers
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News

$3.5 BILLION

That is roughly the valuation of current and proposed construction projects in Cincinnati’s urban core (Downtown, OTR, parts of Nky’s riverfront, Mt. Adams, parts of Uptown). The area is roughly 6 square miles that includes hilly terrain, a mighty river and is the heart of a 2+ million person metropolitan area. That averages out to roughly $574-million worth of investment per square mile.

Projects highlighting this list are The Banks, Cincinnati Riverfront Park, Queen City Square, SouthShore, Ovation, and the Cincinnati Streetcar. In addition to those big projects, the list is filled out by a potpourri of rehab and infill projects that would tickle the fancy of any urbanite.

While you simply can not project development valuations as a signal of a city’s success or failure, it is hard not to be impressed by the shear amount of activity going on now and in the coming months/years. It is not often that a Midwestern city sees this kind of activity, and it isn’t something Cincinnati has seen happen in many decades.

+++ SEE FULL LIST HERE +++
*Note that this list does not include projects going on in the East End, West End, Dayton, or Bellevue.

+++ SEE RENDERINGS FOR MANY OF THE PROJECTS HERE +++

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News

Flagship urban Kroger at The Banks?

Local NBC affiliate, WLWT Channel 5, reported last week that the developers of The Banks are planning to release names of tenants later this year. Three tenants in particular that they did mention that they are in negotiations with are an ESPN Zone, Margaritaville, and Kroger.

ESPN Zone and Margaritaville don’t surprise me all that much…Kroger on the other hand is a pleasant surprise and gets my thoughts stirring about what they could do with an urban store in a newly constructed building in the very city they call home.

What I expect is for Kroger to step up and do something truly special. Something that incorporates all of their best store features and incorporates them into an urban model. A store that could become their flagship urban grocery store – an area in which Kroger doesn’t seem to venture too often, but one that they might want to start considering (see gas prices).

I’m thinking of a store that has lots of international foods, organic products, and generally fits with an “urban lifestyle” for those who may be buying in smaller quantities but at greater frequencies. Could there be a better location, time, and/or opportunity? I don’t think so.

Urban Kroger location (GoogleMap) in Atlanta, GA – Photos by Randy Simes
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Business Development News

Calhoun/McMillan development pushes forward

Over the 4th of July weekend, the last two remaining buildings came down in the long-stalled McMillan Park project. First it was the money, then it was the property holdouts, then the bad economy topped it all off. Throughout this process the project was pretty much scrapped and put on the back burner.

That is until the remaining properties were secured. That has happened…enter Towne Properties, a renewed interest from UC, a growing UC student population, and future connection point between the Uptown and Downtown streetcar lines and you have some serious momentum.

Original rendering for McMillan Park – Source Unknown

Some people have criticized the poor design of University Park (across the street), but I’m not sure anyone can complain about its impact on street activity along Calhoun Street. People can be found all over the place doing homework, eating, relaxing, and socializing. So what can be done across the street to compliment those activities and continue to expand upon them?

I think a pedestrian only Hartshorn Street (GoogleMap) would be great for large outdoor patio spaces (see Cadillac Ranch Downtown) that could also make for neat street vending opportunities for students (i.e. artwork, music, maybe even some performance type stuff).

Along with that, 8-10 story buildings would seem to work well. The first two floors should be built out to the street, and then setback for the remaining 6-8 stories…thus creating the opportunity for an amenity deck above the 2-level retail or town homes below. This would then create a new level of activity that would spill onto the street below, while also remaining semi-private for the residents above. What would you like to see?

Example amenity deck – Source, www.1010midtowncondosupdate.com