Tag: developments

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Business Development News Politics

Just to clarify…

Apparently my post regarding eminent domain was a controversial one, and it seems that some people may have missed the overriding point I was trying to make.

I am not advocating the use of eminent domain all willy nilly…I’m actually not suggest any kind of measures to occur with eminent domain, but rather I am simply complaining about the current system we have in place. Sure we need to protect individual freedoms (imo, that only goes so far though). In some instances government goes to far (see the Patriot Act), and I think that is what many seem to think I’m advocating. It is not, let me explain…

I am making an observation that in many of the high profile eminent domain cases, it is not the small guy or the innocent property owner fighting the battle. It’s quite the contrary…as I pointed out, many of the people involved in these legal battles are absent landlords, LLC’s, corporate entities and the like. I don’t want to rob Peter to pay Paul…I just want to pay Paul for his efforts and enthusiasm in wanting to invest in the inner-city. Is that sooo wrong?

You may still disagree with me and that’s fine…I’m just looking at the situation and thinking, “Maybe we’ve gone a little too far with these rulings.” You know the knee-jerk anti-communist type reactions we’ve seen. I just ask that you cool your jets and look at the next eminent domain case that pops up…you tell me who is benefiting: the neighborhood, municipality, investor or some random LLC who has been stockpiling junk properties for years just waiting for this kind of thing to happen?

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Arts & Entertainment Business Development News

The NEW Downtown Cincinnati

Downtown has managed to turn the corner relatively quickly. People who once used to think of downtown as a tired/boring place are now frequenting the new restaurants, clubs, bars and events. New residents are everywhere and visitors are welcomed by something new almost every other week. It’s just past the half way point in 2007 and Downtown Cincinnati has seen the opening of 4 new bars/clubs, 3 restaurants and more events on Fountain Square than you can count.

It’s wonderful to see everything coming together and this is just the beginning. The majority of the tenants in the redone 5/3 building have yet to open, another few restaurants will be opening shortly, and another couple bars/clubs are on the way. This is all before the ball drops for 2008. If you want to think about 3-4 years down the road, then you’ll really be blown away with what Downtown Cincinnati will be like.

3-4 years puts the streetcar in place and the first phase of The Banks. The Banks will most likely attract tenants like ESPN Zone, Hard Rock Cafe, House of Blues, countless restaurants, bars/clubs. Combine that with the activity that the streetcar system will be shuffling around and you have yourself a VERY strong/vibrant urban core. Thousands of new residents and tons of new attractions. The streetcar system will most likely help give the retail scene downtown a kick in the pants…if that doesn’t do it, the thousands of new residents should.

Check out what’s going on in the NEW Downtown Cincinnati!

Need more to eat… MORE RESTAURANTS!!!
Like to shop… MORE RETAIL!!!
Want to be entertained… MORE ENTERTAINMENT!!!

Some more developments (just to name a few):

Now, downtown hasn’t gotten ‘there’ yet, but it is certainly on its way…and picking up speed.

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News

Rewarding our bum landlords

This is something that I have been stewing about for sometime. It is the issue of eminent domain, and how I feel that the recent court cases are setting a dangerous precedent that will, in the long run, harm cities chances of revival and ultimately reward those bum landlords and tenants of the world.

Now don’t get me wrong, there are surely some instances where the property owner is completely legit in their stance and should not be forced from their home. But most of the time you end up with the logical/sane people selling and moving out, and the others just waiting to prey on the potential investors. This is where I get upset.

We live in a capitalistic market right??? Then shouldn’t we be rewarding the individual who is willing to take a risk on a project rather than rewarding the jerk who sat on some property for years and let it go to crap? With eminent domain you are typically offered higher than appraised value for your property, if that isn’t enough the potential investor is typically willing to up the ante. But for some, that still isn’t enough…they must thoroughly suck out as much as they can and send the redevelopment project into the red.

So you then have an investor who was interested in investing in an inner-city neighborhood who is now fed up and ready to build on a greenfield out in the exurbs. Who wins here…the neighborhood who had a few members stand up and say NO…the investor who lost a lot of money up front on a project that is no more…the municipality that may benefit from increased tax revenue and prestige of a major investment…or is it the few individuals that stood up for “property rights?”

This is a classic Lose, Lose, Lose, Win scenario…it’s great to see it happen before my very own eyes.

A couple recent cases in Cincinnati:
Cincinnati v. Clif Cor Co. (Calhoun Street)
Cincinnati v. Dimasi (Dixmyth Avenue)
Norwood v. Horney (Rookwood Exchange)

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News

Fountain Square Progress

I must reiterate how much I love the new Fountain Square! It is more open, engaging, and personable. The trees offer an oasis of shade for those lounging on the square, and the water wall/spray features offer something for families. Overall the area is looking great!

Via Vite is progressing quite nicely and should be a great feature on the square. The re-cladding, on the south side, of the 5/3 building is nearing completion as well. I might add that it’s also looking quite nice. Now the north side of the building is another question.

They have put in these colored beams as the source of re-cladding. I’m not a big fan to say the least, but on the bright side it seems to compliment the Cadillac suspended above the entrance to the new Cadillac Ranch Bar & Grill. I don’t know what they were thinking when whoever drew up these designs, but I guess it’s just nice to see more investment in the inner-city. Maybe it’s a good thing I’m getting picky…


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Categories
News

3CDC and OTR hitting their stride!

3CDC has been working diligently in Over-the-Rhine rehabbing old structures, creating chic urban living options, and luring new unique businesses to the area. The first piece of their OTR work to come on line is the Gateway Quarter. This is the section of OTR including/surrounding Vine Street from Central Parkway up a few blocks.

The area has seen great successes so far. The Art Academy of Cincinnati has created student housing options in the area, the Gateway Condos have been a success, and multiple new businesses have signed leases. All of this is taking place while more buildings are being renovated with more living and retail options! The other buildings include: Bremen Lofts, Centennial Row, Duncanson Lofts, and Duveneck Flats.

Now the area has seen the influx of new housing before, but what is new is the interest of the retailers. These are not your typical retailers either…these are stores geared towards urban living/lifestyle. City Roots is an urban gardening store, MetroNation offers contemporary home accessories and furniture that is collapsible, Park + Vine is a green variety store, and Jean Robert de Cavel plans to open another restaurant in the city…this one being in the Gateway Quarter.

All in all, there are fantastic changes taking place in Over-the-Rhine. New businesses are opening, new residents are moving in, crime is dropping, and hopefully the neighborhood’s long tainted image will begin to improve. Next on tap for 3CDC in OTR is the Washington Park District. 3CDC has announced that they plan to rehab 100 units per year, for the next 7 years in OTR…the main kicker is that they also plan on doing this through rehabs and NOT tearing down buildings. Good things are in store!