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Business Development News Transportation

PHOTOS: Construction Activities for $133M Streetcar Project Move Southward

Maintenance & Operations Facility

Since the dust-up in December, construction work on the $133 million first phase of the Cincinnati Streetcar has been proceeding as planned.

Those living, working or visiting Over-the-Rhine, can now see significant visual progress throughout much of the neighborhood. Meanwhile, utility relocation and upgrade work continues near the southern terminus of the initial system; and now track work is beginning to approach as rails are installed along Central Parkway.

Due to the congestion and centuries old utility systems, work in the Central Business District is expected to be messy and lengthy. In order to minimize disruptions, city officials say that they are working as much as possible at night and on weekends.

Vertical construction continues at the system’s northern terminus where the Maintenance & Operations Facility is being built; and officials say that work is now beginning on one of the first power substations at Court Street and Walnut Street.

Restoration of the Central Parkway median is currently taking place following a surge of construction activity along this stretch of the route, which, coincidentally, is located directly above the Race Street Station for the never-completed Cincinnati Subway.

Rail installation will continue to take place throughout Over-the-Rhine in the coming weeks, and gradually work its way south. Meanwhile, expect the heavy lifting that is the modernization and relocation of utilities to continue.

Due to encouraging progress, some project officials believe there is the possibility the system could open several months ahead of schedule sometime in the summer of 2016.

It was also learned this week that the Southwest Ohio Regional Transit Authority (SORTA), the agency who will eventually operate the system, will deposit $268,278 of a remaining 1996 grant from the Federal Transit Administration into the Cincinnati Streetcar’s unallocated contingency fund. That fund, meant to cover unanticipated costs, started out at $4.7 million. Since the start of the project officials have used nearly $900,000 of those funds.

EDITORIAL NOTE: The following 22 photographs were taken by Jake Mecklenborg on Tuesday, May 20, 2014. Those interested in learning more about Cincinnati’s transit history should read his book – Cincinnati’s Incomplete Subway: The Complete History.

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Business Development News

Western & Southern Aiming to Alter Lytle Park Historic District Boundaries

Proposed Lytle Park Historic District Boundary (City of Cincinnati)

The construction of Interstate 71 spelled the permanent division of several east side neighborhoods in Cincinnati including Evanston and Walnut Hills. But in the early 1960’s, an effort arose from downtown land owners around historic Lytle Park to preserve one of the oldest areas in the city.

Enacted in 1964, the Lytle Park Historic District has protected this area of the city which I-71 now passes under. Now, per city regulations, the city’s oldest historic district is up for renewal. A city staff report to the Cincinnati Planning Commission, however, reveals that several changes may be afoot.

The district has historically been split into two types of regulated areas. Area A properties were those that had to meet the strictest requirements of the historic district’s guidelines; while Area B properties were granted special allowances to accommodate some changes.

Over the last few decades Western & Southern Financial Group has slowly acquired many of the properties that make up the district. Most recently, the company acquired the 105-year-old building the Anna Louise Inn had long called its home.

The proposed district changes would remove some properties from the historic district altogether, and would also eliminate the distinction between properties. Specifically the Woodford Building along Fourth Street, a building along Fifth Street, a parking garage, and several historic buildings along Third and Arch Streets would be removed under the proposal.

In the letter to Planning Commission legal counsel Western & Southern attorney Fran Barrett stated:

“Our client’s desires to be able to provide for keeping its home office headquarters in the area which will ensure the ever-increasing high number of wage earners who add significantly to the city’s tax base, support a number of businesses and commercial activities in the downtown area, and continue to promote a major financial services company in the Central Business District.

There is a concern that an added layer of government reviews could deter positive economic growth at this location. Western & Southern’s track record demonstrates that all concerned should have nothing but the greatest of confidence in any future development undertaken by Western & Southern.”

The removal of these areas from the historic district would essentially clear the way for the financial services giant to demolish and redevelop the properties in a way that would not have to conform to the district’s guidance on new infill development.

Such information only fuels intense speculation that Western & Southern is actively eyeing a location to build a new high-rise office tower to consolidate its headquarters, and possibly even a second high-rise tower accommodating either a hotel or residences.

While the staff report offers no comment on the removal of the buildings from the district, the three buildings along Arch Street are some of the oldest buildings in the city.

The proposed changes will go before Cincinnati Planning Commission on Friday, May 2. The meeting is scheduled to take place at 9am on the seventh floor inside the  J. Martin Griesel Conference Room at Centennial Plaza Two (map).

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Arts & Entertainment News

VIDEO: Springtime in Cincinnati Along the Banks of the Ohio River

View of Center City from Queensgate [Brian Spitzig]

April is winding down, and our good friend Brian Spitzig put together a time lapse video for us all to enjoy.

The nearly two-minute video showcases a number of unique perspectives, including breathtaking views of the Ohio River and its boat traffic. The video concludes at the banks of the river in Covington; looking back north toward a dazzling fireworks display at the conclusion of a Reds baseball game. Enjoy!

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Business Development News

Townhomes Removed from Development Plan for The Banks

Townhomes at The Banks

Hamilton County leaders announced last Thursday that they had struck a deal with the Cincinnati Bengals regarding a number of issues pertaining to the county’s stadium contract with the team.

The biggest component of that new agreement is that the Bengals will waive their veto right over the heights of buildings at The Banks. This clause in the stadium deal, signed in 1997, delayed the start of construction of Phase IIA work at The Banks by more than a year, and posed a significant risk to the City of Cincinnati in its efforts to lure General Electric and its new Global Operations Center to the central riverfront.

Now that the agreement is signed, developers of The Banks have announced that they will immediately begin construction on Phase IIA project that will include 291 apartments and 19,000 square feet of retail space.

Should the city succeed in its efforts to land General Electric’s facility at The Banks, it is expected that its new office tower would either be located at the office pad within the Phase I footprint, or more likely on top of the street-level retail adjacent to the apartment midrise at Phase IIA.

The development team believes both sites could accommodate the approximately 400,000 square feet of office space desired by General Electric.

The announcement also brought with it renewed questions about the status of the hotel at Phase I, located immediately across the street from Great American Ball Park. On that note, the developers said that they are still working to sign a hotel operator for the space, and that it is unlikely it will be completed ahead of the 2015 MLB All-Star Game.

That leaves only one element of Phase I of The Banks still in question – the oft-forgotten townhomes lining the Schmidlapp Event Lawn.

When asked about the status of the townhomes, and if their delay in moving forward was related to constructability issues with the adjacent and unbuilt hotel site, Libby Korosec, spokeswoman for The Banks development team, said that there are no longer plans for townhomes at that location.

Korosec went on to say that the future of that particular site has yet to be determined, but that it is possible it could be used as part of the hotel, but that no decisions have been made.

“That site was originally planned to have six to eight townhomes, which is not really an efficient number to go in and build,” Korosec explained. “Not only was it not efficient, but it also wasn’t going to be a very good environment for townhomes with all the in and out traffic nearby.”

Korosec noted that the elimination of townhomes from the Phase I footprint does not mean that townhomes will not be built elsewhere. In fact, she said that the development team believes there are other sites at The Banks that would be better suited for such housing.

Part of the change can also be explained by the housing bubble that burst around the time construction started at the site.

“The market on condos and townhomes turned south just when we signed the MDA,” Korosec said. “However, homeownership via condos is still a strong possibility at The Banks for future phases should the market demand it.”

The development team opted to forgo building condos at $91 million Phase IA of The Banks, and instead built apartments due to the housing downturn. The decision has proved successful as apartments at The Banks fetch some of the highest prices per square foot in the region and have a waiting list of approximately 60 people.

Since that time the MDA was signed, however, the owner-occupied housing market has shown signs of life throughout the center city where there is currently little supply available. Recent developments, led by 3CDC in Over-the-Rhine, have sold quickly and, in some cases, for more than $300 per square foot.

The Banks development has drawn a significant amount of publicity since its first phase opened in 2011, but work is far from over at the massive riverfront project site. As of now, The Banks is only approximately one-third of the way built out.

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Business Development

Popular St. Louis-Based Pi Pizzeria to Open Cincinnati Location in AT580 Building

Pi Pizzeria is set to open its seventh location, and only its second outside of St. Louis. The Cincinnati location will be in the AT580 building at 6th and Main Streets, one block from the Contemporary Arts Center, 21c Museum Hotel, and Aronoff Center, near several major corporate headquarters, including Procter & Gamble, and within walking distance of the riverfront and sports stadiums. The restaurant will seat approximately 125 and is being designed by SPACE Architecture of St. Louis.

Pi at AT580 Building - Cincinnati, OH

“We’ve been admiring the Cincinnati market for a few years now, but just started our search about a year ago,” Pi Co-owner Chris Sommers told nextSTL. “We are amazed at the resurgence of Downtown and OTR, and had to be a part of it.” Sommers has had his eye on Cincinnati for some time before finally signing a lease. Chris’s wife Anne Schuermann Sommers is from Cincinnati and the couple visits frequently.

AT580 Building - Cincinnati, OHGoogle Streetview of 6th and Main in Cincinnati.

In addition to serving award-winning thin crust and deep dish pizzas with a signature corn meal crust, the restaurant focuses on local brews and plans to serve only St. Louis and Cincinnati beers. “We are also very excited to partner with our hometown St. Louis’ largest local brewer Schlafly, featuring their beers for the first time ever in Ohio,” Sommers shared. The St. Louis Brewery, maker of Schlafly beers, is the largest craft brewer in St. Louis at 60,000 barrels per year. Schlafly produces Pi Common, a take on the Anchor Steam beer that started the craft brewing revolution.

A variety of beers from the burgeoning brewery scene in Cincinnati will be featured. “The brewing scene has exploded in Cincinnati and we can’t wait to pour as many local craft beers as possible,” stated Sommers. Pi Partners with local breweries in St. Louis and Washington D.C., hosting events, tap takeovers and offering custom brews, available exclusively at Pi. They plan to do the same in Cincinnati. Sommers also envisions a streetcar beer crawl once the line is running. The Cincinnati Streetcar will run on Main street past Pi.

Although created for internal design purposes, Pi agreed to share this video exclusively with nextSTL and UrbanCincy:

Sommers waited out the streetcar debate before committing to a Cincinnati location. “We choose our locations based on major transit lines, and feel the streetcar will be game-changing for Cincinnati,” Sommers told nextSTL. Pi’s original St. Louis location is located in the transit-rich Delmar Loop, the downtown St. Louis Pi sits atop a MetroLink station, and the D.C. restaurant is near both Metro Center and Chinatown Stations.

Pi at the MX - St. Louis, MOThe Downtown St. Louis Pi location.

Pi at the MX - St. Louis, MOThe Downtown St. Louis and Cincinnati Pi restaurant locations share many similarities (via Google Streetview).

The original Pi location opened in the City of Louis on Delmar Boulevard in 2008. Later that year, then Senator Obama visited St. Louis, speaking to an estimated 100,000 people at the Arch. An aide from Obama’s campaign was sent to get pizza and chose his favorite new pizzeria, Pi. The President became a fan and Sommers and Co-owner Frank Uible personally delivered Pi pizza to the White House for a 2009 dinner.

Capitalizing on the publicity, Pi opened a location in D.C.’s Penn Quarter in 2011. There are now four locations in the St. Louis area, including the Delmar Loop, Downtown St. Louis, Kirkwood, and Chesterfield. A Pi Truck also roams the roads and was used extensively to test the market in both downtown St. Louis and D.C. before opening brick and mortar locations. Sommers and Uible recently opened Gringo, a Mexican restaurant, in St. Louis’ Central West End, and have explored other restaurant concepts.

Pi was recently back in the Presidential spotlight, as it was recognized during the President’s weekly radio address for increasing employee minimum wage to $10.10 an hour. The Pi mention is at 1:31 in the video below. The current minimum wage in Missouri is $7.50 an hour, and $7.95 in Ohio. Pi employees in Ohio will make a minimum wage of $10.10.

Pi at AT580 Building - Cincinnati, OHA screen grab from above video shows street level design.

The AT580 building has been largely vacant since 2011 when Great American Insurance Company moved a couple blocks to Queen City Square, a building that happens to have been designed by Gyo Obata of the St. Louis architecture firm HOK. The 17-story tower was designed by RTKL Associates and Harry Hake & Partners for Southern Ohio Bank. Construction was completed in 1974.

The building sold in 2012 for $16M, the minimum bid allowed as a sheriff’s sale, after the owner had defaulted on its loan. The tower was again sold in early 2013 to Anderson Birkla Investment Partners of Indianapolis for $13.7 million. The new owner has proposed 179 apartments, 48,000 sf of retail space on two levels and 181,000 sf of office space, expected to be anchored by Fifth Third Bank. Last year, the Cincinnati city council approved of a 12-year property tax exemption valued at $4.8M.

If all goes according to plan, build out will begin in the coming weeks and a grand opening could be held in August.

This article is cross-posted at nextSTL.com