Tag: downtown

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Business News

MOVE Coworking Aims to Offer Non-Traditional Workers Healthy, Active Workspace

Coworking Space [Provided]

Ryan Meo and Patrick Hitches will open a coworking space in the Brighton District of Cincinnati’s West End neighborhood later this month. The two are taking a different approach and hoping MOVE Coworking will fare better than its predecessors.

Hitches and Meo describe the concept as an “active collaborative environment” that mixes the traditional shared working space with a fitness training facility. It will be the first of its kind in the region and stands in contrast to the three shuttered coworking spaces – Cincy Coworks, Working Side by Side and The Offices – that came before it.

“We believe living an active, healthy lifestyle helps to spark innovation, creativity and productivity,” Hitches explained. “We know from experience that the integration of hard work and play creates an element of true productivity, creativity and innovation in whatever your work or business may be.”

The business partners say that they believe part of the problem with other coworking spaces is that they essentially recreate a quiet office environment that many independent workers are looking to escape – something new pay-per-minute cafes are also trying to combat. To that end, they say that MOVE Coworking will include communal tables, stand-up desks, hanging hammocks, lounge areas and eventually treadmill desks.

Meo and Hitches come from different non-traditional work backgrounds that they believe will contribute to the success of their new business venture. Hitches has worked as a fitness entrepreneur, splitting time between Washington D.C. and Cincinnati, and Meo has spent his professional career doing web development outsourcing. They also say that, in addition to their non-traditional work backgrounds, they were motivated to make this investment due to all of the positive changes taking place in the city.

“There’s no denying the momentum and excitement of the changing neighborhoods all across downtown Cincinnati,” Hitches said. “I look around at all the architecture that has for so long been underutilized and really can’t believe we’ve waited this long to utilize these unique buildings. To me this is a huge opportunity to snag up one of these spaces to create a vision while cultivating a community of people who are also passionate about the positive changes to the city.”

The two are particularly excited about the historic warehouse building they will be located in, and Hitches, who lives car-free, says that as an avid cyclist he is also thrilled about the new Central Parkway Cycle Track out front.

MOVE Coworking will take up 5,000 square feet of space in the basement of the historic Mohawk Building. In order to get the space into the proper condition and fully outfitted, they say that they have invested somewhere around $100,000.

Those looking to use the coworking space or fitness component will have several options. Hitches says that every coworking package will include a membership to the gym space, but that people can also purchase fitness memberships independent of the coworking space. He also says that a yoga space will be added later this fall, and be inclusive in specific membership packages, while also being sold separately for those who just wish to access the yoga studio.

It will cost $20 for drop-in use of the coworking space, or $199 per month for a three days per week package and $270 per month for full-time 24-hour access. As of now, rates start at $70 per month for those who just wish to get a fitness membership.

“Instinctively I always wanted a place where I could go part-time to do some focused online work outside the gym or coffee shops where I would set up my laptop,” Hitches told UrbanCincy. “I now have a place in D.C. where I can utilize space that allows me to have a network of people outside the fitness professionals who I’m around daily in the training studio.”

With that in mind, Hitches and Meo are now hoping they can attract local entrepreneurs, solopreneurs and young professionals that are in search of an alternative workspace, where they can also surround themselves with other health-minded individuals.

MOVE Coworking will start giving private tours to potential members this week, and will have an official launch party on Wednesday, August 20.

Categories
Business News Politics

Covington Estimates It Will Make $516,113 on Parking This Budget Cycle

While Cincinnati leaders would like to see their parking system generate more in revenue than it costs to operate and maintain it, that is not the reality. It is, however, the reality across the river in Covington.

A review of Covington’s recently approved 2014-2015 budget estimates the parking system will bring in approximately $1.6 million in revenue, while costing only $1.1 million for operations, maintenance and upgrades.

One of the largest chunks of Covington’s annual parking revenue, however, comes from lease payments which total about $491,000 – or nearly one-third of the city’s annual parking revenues.

Had Cincinnati followed through with its parking lease agreement, it too would have realized these benefits by offloading expenses and locking in fixed lease payments. Under Cincinnati’s parking lease, the city would have received anywhere from $3-4 million in annual payments from the concessionaire.

In order just to break even, the City of Cincinnati has and continues to defer needed maintenance and upgrades, while also depleting its parking fund.

Covington will also benefit from increased parking rates, which will net the city an additional $68,500 in the first year. Those changes include a 10-cent per hour increase for on-street parking meters, and a $2 per day increase at the RiverCenter Parking Garage.

In addition to on-street parking meters throughout downtown, Covington has 818 parking spaces in 16 surface lots and another 1,574 spaces in three different parking garages.

Categories
Business Development News

PHOTOS: The Changing Face of Downtown Cincinnati

dunnhumbyUSA Centre

It’s not just housing that’s booming in the center city, there is also a slew of office, retail, hotel and infrastructure projects underway that are transforming Cincinnati’s skyline and its streetscapes.

All of the construction activity makes it feel as if there is work taking place in just about every corner of the central business district and its immediate surroundings. And for the most part, that feeling is valid.

In addition to the thousands of residential units under construction, work is also currently underway on the second phase of The Banks, which will include not only 300 additional apartments, but also General Electric’s new North American Global Operations Center, 313-room Renaissance Hotel, dunnhumbyUSA Centre, Mabley Place, reconstruction of Second Street, and work is about to get underway for the new 115-room Holiday Inn hotel at Seventh and Broadway Streets.

In addition to all of the construction work taking place, the weather earlier this month was terrific and made for a perfect time to take pictures of some of the center city’s beauty.

EDITORIAL NOTE: All 22 photos were taken by Travis Estell for UrbanCincy between July 2 and July 9, 2014.

Categories
Development News

PHOTOS: Construction Progressing on Thousands of New Downtown Residences

Mercer Commons Phase Two

Six months ago, we reported on 11 residential developments moving forward in the Central Business District, Over-the-Rhine, and Pendleton. At the time, these were expected to add about 1,500 new units of housing to the urban core. Although one of these projects has been downsized and another postponed, one new residential project was announced as well.

Most notably, the proposed tower at Fourth and Race was downsized from 300 to 200 units, and the grocery store that would have been located on the ground floor of the building has been dropped from the plan.

The Cincinnati Center City Development Corporation (3CDC) is also shelving its plans for a new mixed-use project at 15th and Race, which would have added 57 residential units. However, 3CDC is also shelving its plan to build 53,000 square feet of office space as part of the third phase of Mercer Commons, and is considering building more residential at that location. The first two phases of Mercer Commons contain 126 apartments and 28 condos in addition to retail space.

Finally, the proposal to bring an AC Hotel to the former School for the Creative & Performing Arts (SCPA) in Pendleton has been scrapped. Developers are now moving forward with an alternate plan, which will convert the building into 155 market-rate apartments.

The other projects still moving forward include:

  • Phase two of The Banks broke ground in April 2014. It will contain 305 new apartments and 21,000 square feet of retail space, in addition to a new office tower for General Electric.
  • AT580, formerly known as the 580 Building, is being converted from office space into 179 apartments. The existing retail spaces on the first and second floors will remain.
  • The Seven at Broadway project will feature 110 high-end apartments, built above an existing parking garage. The target demographic for these units will be empty-nesters and older professionals looking for downtown living, according to Rick Kimbler, partner at the NorthPointe Group.
  • Broadway Square, a $26 million development, is now under construction in Pendleton. Its first phase will feature 39 apartments and 40,000 square feet of retail space, and developer Model Group will add at least another 39 apartments in the second phase of the project.
  • The Schwartz Building, formerly vacant office space, is being converted into 20 apartments. Developer Levine Properties cited the building’s location along the Cincinnati Streetcar route as a driving factor for the renovation.
  • The Ingalls Building will be redeveloped into 40 to 50 condos and ground-floor retail space by the Claremont Group.
  • Peak Property Group plans to purchase and renovate three buildings on Seventh Street into 75 apartments and 15,000 square feet of retail space.
  • Developers of the Fountain Place retail building want to add 180 to 225 residential units above the existing Macy’s department store.

EDITORIAL NOTE: All 12 photos were taken by Travis Estell for UrbanCincy between July 3 and July 8, 2014.

Categories
Business Development News Opinion

EDITORIAL: It’s Time for Cincinnati to Build a New First-Class Arena

Existing and Potential Arena Sites [Brian Spitzig]

The Cincinnati region has an arena problem that is two-fold. The first part of the problem is that there is no stand-out venue that offers both the capacity and modern amenities to attract large-scale events. The second is that the region has far too many venues competing with one another.

Within a one-hour drive from Fountain Square there are eight arenas with a capacity of more than 9,000 people for their primary tenants. Of these, only three have been built or undergone major renovations since the year 2000. The lone major project currently on the books is the $310 million renovation and rebuild of Rupp Arena in Lexington, which also happens to be the furthest away of the eight venues mentioned.

  1. Rupp Arena (23,500): Built in 1975 with minor renovations in 2001. Primary tenant is University of Kentucky athletics. Major renovation and rebuild planned for completion in 2017.
  2. U.S. Bank Arena (17,566): Built in 1975 with a major renovation in 1997 and subsequent minor renovations. Primary tenant is the minor league hockey Cincinnati Cyclones team.
  3. UD Arena (13,409): Built in 1969 with major renovations in 2002 and minor renovations again in 2010. Primary tenant is University of Dayton athletics.
  4. Fifth Third Arena (13,176): Built in 1989 with several minor renovations since. Primary tenant is University of Cincinnati athletics.
  5. Cintas Center (10,250): Built in 2000. Primary tenant is Xavier University athletics.
  6. Cincinnati Gardens (10,208): Built in 1949 with no major renovations since its opening. Primary tenant is the amateur women’s roller derby Cincinnati Rollergirls team.
  7. Bank of Kentucky Center (9,400): Built in 2008. Primary tenant is Northern Kentucky University athletics.
  8. Millett Hall (9,200): Built in 1968 with no major renovations since its opening. Primary tenant is Miami University athletics (sans hockey).

Recent talks closer to the core of our region have revolved around either embarking on a major renovation of Fifth Third Arena, or building a new one altogether; and performing major renovations on U.S. Bank Arena. The problem with these two approaches, however, fails to address the two core problems with the region’s plethora of arenas.

Any discussion on this topic should be focused on creating a stand-out venue that is both large enough and offers the modern amenities needed to attract major events, while also decluttering the regional arena landscape.

To that end, UrbanCincy recommends building a brand new arena adjacent to the Horseshoe Casino at Broadway Commons that would become the new home for the Cincinnati Cyclones, Cincinnati Rollergirls and University of Cincinnati Men’s Basketball. This venue would also accommodate the existing events held at U.S. Bank Arena and should be built in a way that is conducive for casino operators to program additional events, such as boxing, at the venue.

As part of this plan, U.S. Bank Arena and the Cincinnati Gardens should be torn down, and Fifth Third Arena used as the multipurpose facility it was originally intended to be.

This location makes perfect sense with immediate access to the center city’s hotels and convention facilities, casino, streetcar system, highways and abundant parking. Such a plan would also allow for the current U.S. Bank Arena site to be redeveloped with additional housing and shops akin to what is being developed at The Banks.

The land left over at the Cincinnati Gardens site in Bond Hill could then be repackaged, with surrounding land, to be developed as part of community-driven master plan.

As is often the case, funding is one of the primary hurdles preventing any of this from getting done. In this particular plan, each of the partners (University of Cincinnati, City of Cincinnati, Hamilton County, Horseshoe Casino) could contribute to the capital costs. Furthermore, value capture tools could be used for the U.S. Bank Arena and Cincinnati Gardens properties to help offset costs even more.

The last thing our region needs is another tax to pay for a sports or entertainment complex. Those scarce public resources should be reserved for more pressing things like improving our region’s transit network.

Our region’s political and business leaders need to think holistically when it comes to this challenge. Moving forward in a panicked and rushed fashion will get us an end result that does not solve the problems before us, and ultimately squanders public dollars.

Let’s build ourselves a modern arena venue that can attract top-level events, but do so without placing the burden on the taxpayers. Let’s also do so in a way that rids the region of some of its excess number of existing arenas, and frees up land to be redeveloped in a more productive manner for our neighborhoods.

There is a wealth of talent and C-Level executives in this region. Let’s get creative and start thinking beyond the sales tax. Let’s get this done.