Categories
Business Development News

PHOTOS: $80M Mixed-Use Development Nears Completion in Clifton Heights

Since 2000, the University of Cincinnati’s surroundings have changed dramatically – many homes and a few landmark buildings were demolished for construction of Stetson Square, McMillan Manor, University Park Apartments, and 65 West. U Square at the Loop, a 161-unit, $80 million midrise situated between McMillan and Calhoun Streets, has been under construction for more than a year and is scheduled for occupancy on August 1.

The development includes over a dozen street-level commercial spaces, an office building that has been rented by the University of Cincinnati, and a site fronting McMillan Street where a hotel is planned. Apartment prices range between $695 for studios to $2,350 for penthouses with balconies.

U Square at The Loop

Reserved parking spaces in the development’s two garages will cost $95/month. Unlike other new apartment complexes in the area, units at U Square at the Loop can be rented by non-students.

In the early 2000s the site where U Square at the Loop is being built was partially cleared for a very different development – a 360-unit condo midrise dubbed McMillan Park that had been in planning since 1999. The two phases of the development were planned above two underground parking garages totaling 900 spaces, and planned units ranged from $160,000 for a one bedroom to $800,000 for a penthouse.

That project was to be financed by the University of Cincinnati, the site assembled by the City of Cincinnati through eminent domain, and the project managed by the Clifton Heights Community Urban Redevelopment Corporation (CHCURC). Demolition of properties began in 2003, but litigation involving the owners of Acropolis Chili, Inn the Wood, and two fast food restaurants was not resolved until 2007, a year after the university withdrew its funding.

In 2008 Towne Properties became the project’s developer, and the long-vacant Hardee’s and Arby’s that had been the subject of eminent domain litigation were demolished that summer.

Renderings depicting a development similar to what is nearing completion in 2013 were published that fall, and the project was dubbed Uptown Commons in 2009. The project’s name changed again to U Square at the Loop in 2010 and construction began in 2012.

Categories
Up To Speed

Parking Requirement Removal Makes Housing More Affordable

Parking Requirement Removal Makes Housing More Affordable

Hot on the heels of Cincinnati’s move to begin eliminating parking requirements in the urban core, UCLA has released a study that highlights how excess parking from parking requirements contribute to the increase in rent or mortgage payment for developments that may not need as much parking as a city’s code requires. The study highlights how parking spots, costing between $30,000 to $50,000 a space can raise rents by as much as $140 a month. More from Streetsblog:

Minimum parking requirements result in more space being dedicated to parking than is really needed; in a world of height limits, floor-area ratios, and endless other development regulations this necessarily leaves less space for actual housing. What really struck me, though, was the straightforward assertion that housing marketed toward non-drivers sells for less than housing with parking spaces. It’s powerful, but it’s also obvious: parking costs money to build, so of course buildings with less parking are cheaper. But to have research-driven data behind it adds force to the conclusion.

Categories
Business Development News Transportation

Cincinnati Proposes Eliminating Parking Requirements in Downtown and Over-the-Rhine

The City of Cincinnati will hold a public conference this evening about proposed amendment to the zoning code that would deregulate parking requirements throughout the center city.

According to city officials, the amendment would create new ‘Urban Parking Districts’ and remove the current regulations that mandate how many parking spaces must be provided for any new development or for any project that is modifying the use of an existing structure.

The efforts to get rid of the parking requirements throughout the center city have been ongoing for years.

In June 2010, city officials moved forward with new legislation that allowed for a 50% parking reduction for residences located within 600 feet of a streetcar stop. Then in March 2012, Vice Mayor Roxanne Qualls (C) introduced a motion, which was co-sponsored by six other council members, to eliminate all parking requirements throughout the Central Business District and Over-the-Rhine.

Over-the-Rhine
Over-the-Rhine’s existing historic fabric is at risk of further demolitions, due to current parking requirements, as investment continues to pour into the neighborhood. Photograph by Randy Simes for UrbanCincy.

Last March, UrbanCincy examined just how these off-street parking mandates are stifling growth and investment in the center city, which was largely built before the advent of the automobile. The requirements have led to not only increased costs for small businesses, but they have also led to an excess of parking in these neighborhoods.

The parking regulations also make it particularly difficult to redevelop smaller historic buildings like the ones found throughout Over-the-Rhine.

“Requiring parking for historic structures that have never had parking is incentivizing their demolition. This puts the property owner in a really difficult position; he must either find parking for the building, demolish it or let it languish in perpetuity.” Nashville city planner, Joni Priest, told UrbanCincy last March. “If a property owner wants to rehab an historic building – a building that marks the character of a neighborhood and contributes to the fabric of the city – all incentives, including the elimination of parking requirements, should be considered.”

Parking requirements have also contributed to the increased costs of redevelopment in these historic neighborhoods.

Last April, Chad Munitz, Executive Vice President of Development and Operations of the Cincinnati Center City Development Corporation (3CDC), estimated that existing parking mandates cost developers, on average, $5,000 for one surface parking space and $25,000 for a structured parking space. The increased cost associated with that parking, Munitz says, is then passed on to the consumer and raises the price of a residential unit by as much as $25,000.

The City of Cincinnati’s Planning & Buildings Department will host the public conference this evening at 5:30pm at Two Centennial Plaza, which is located at 805 Central Avenue downtown, and is well-served by a number of Metro bus routes (plan your trip). City officials say that the meeting will take place on the 7th floor, Suite 720 in the Martin Griesel Room A.

Categories
Up To Speed

UC’s Campus Recreation Center named best in America

UC’s Campus Recreation Center named best in America.

Most everyone knows by now that the University of Cincinnati has transformed its previously drab uptown campus into one of the world’s most beautiful college environments with stunning architecture and public spaces. One of those stunning pieces of architecture is the university’s Campus Recreation Center (CRC), which opened in 2005, and has been rated as the best college recreation center in America. More from Best College Reviews:

The UC Campus Recreation Center is an impressive building, with over 200,000 square feet of recreation facilities. A juice bar and a convenience store are also available to students for immediate refreshing during or after a big workout. The CRC has three pools, over 21,000 pounds of weights, a climbing wall, and a suspended track.

The University of Cincinnati has always placed a premium on impressive architecture, and the CRC is an example of this. UC’s facilities for student athletes are also impressive…UC students have all the amenities that modern students expect, but they enjoy partaking of them in world class architectural achievements, which is a big part of why Cincinnati takes our top spot.

Categories
Up To Speed

Inadequate regional transit burdens Infrastructure Grade

 Inadequate regional transit burdens Infrastructure Grade.

Last week the American Society of Civil Engineers released their report card on the state of our nations infrastructure. Earlier,  we broke down the report and analyzed what the numbers mean for Ohio and Cincinnati infrastructure but Next City has reviewed the numbers for rail and mass transit. Even though regional rail infrastructure has improved through Amtrak, local mass transit continues to lag behind with a D grade from the ASCE. The report highlights that even though more people are riding transit, the condition of our nations mass transit infrastructure has a backlog in $78 billion worth of repairs. More from Next City:

Transit that doesn’t fall under Amtrak’s purview fared much worse on the ASCE’s report card, earning a D and therefore pulling down the nation’s overall lousy-to-begin-with G.P.A.

Public transit ridership increased by 34 percent between 1995 and 2011, according to the American Public Transit Association, and the ASCE report states that access to transit across the country has grown by nearly 10 percent. Although transit investment has also increased, “deficient and deteriorating” regional transit systems cost the national economy $90 billion in 2010.