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Everything posted by The_Cincinnati_Kid

  1. Trump grades himself on coronavirus response. Here's his score During a coronavirus task force meeting, President Donald Trump was asked to grade himself on the White House's response to the crisis. You guessed it, 10/10!
  2. Covington buys prime redevelopment site for $20.5 million By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier The city of Covington has purchased the former Internal Revenue Service paper-processing facility that sits between Third and Fourth streets for $20.5 million. The Covington Board of Commissioners authorized Mayor Joe Meyer to sign papers formalizing the agreed-to-purchase price of the site of closed IRS facility. The 3-1 vote directs Meyer to accept the negotiated sale price of $20.5 million offered through the federal General Services Administration. MORE
  3. EXCLUSIVE: Downtown Cincinnati building to be converted to apartments By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier The building at 124 E. Seventh St. will be converted to 35 apartments. A longtime Cincinnati developer is planning to start work soon on its next conversion of a downtown building into apartments. MORE
  4. CVG tops off major project: PHOTOS By Erin Caproni – Digital Producer, Cincinnati Business Courier The Cincinnati/Northern Kentucky International Airport has reached a milestone on a huge project. The airport and Messer Construction hosted a topping off ceremony for its 1.2 million-square-foot rental car facility on Wednesday. The highest beam was installed on the structure, which will be connected to the terminal for passengers to perform rental car transactions starting in 2021. MORE
  5. Kearney: Port’s award of Millennium contract ‘unjust and unfair’ By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier Feb 13, 2020, 2:48pm EST Updated 2 hours ago The CEO of the Cincinnati & Northern Kentucky African American Chamber of Commerce sharply criticized the Port of Greater Cincinnati Development Authority’s decision to award a contract to redevelop the Millennium Hotel without competitive bidding. “This is unjust and unfair,” said Eric Kearney, the former state lawmaker who leads the region’s black chamber, in a statement Thursday. “Input from the African American Chamber and other economic development organizations should have been solicited by the CEO of the Port.” MORE
  6. London calling? Speculation builds on CVG-U.K. flight By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier Cincinnati is in a race with St. Louis to land the next British Airways direct flight from the Midwest. At least that’s what St. Louis airport and government officials believe. more
  7. EXCLUSIVE: $29 million apartment project planned in Walnut Hills By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier A pair of development companies is working on plans for a large apartment project in Walnut Hills. MORE
  8. Port OKs bonds to acquire, demolish Millennium Hotel By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier The Port of Greater Cincinnati Development Authority’s board unanimously approved issuing $59 million in bonds on Wednesday to acquire, demolish and secure the Millennium Hotel, another step toward putting the property at 150 W. Fifth St. in public hands. The bonds will be backed by Hamilton County’s share of the local hotel tax. The Convention Facilities Authority must still approve the use of that revenue source and is scheduled to meet this month. MORE
  9. One of region’s largest homebuilders launches Madisonville development: PHOTOS By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier One of the largest homebuilders in Greater Cincinnati is working on a rowhouse development in Madisonville. Ashford Homes LLC has started construction on Sonoma Trails, a development that will include 18 total rowhouses along Duck Creek Road. Cathy Hall, community and offsite specialist for Ashford Homes, said four of the 18 homes have already been sold. Three market homes are starting as well, with anticipated mid-to-late-summer move-ins. MORE
  10. Get a look at Lytle Park Hotel construction: PHOTOS By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier The transformation of two buildings in downtown Cincinnati’s Lytle Park into a high-end, boutique hotel is nearly complete. More and Photos
  11. Northgate Mall losing it's Macy's... Macy's will close at least 11 stores, including Cincinnati location By Andy Brownfield – Reporter, Cincinnati Business Courier Cincinnati-based retail giant Macy's Inc. is closing at least 11 stores, including one in the company's hometown. Macy's (NYSE: M) confirmed to the Business Courier that it's closing its Northgate Mall store in Cincinnati, with a clearance sale beginning this month and running for up to three months. A final closing date has not yet been set. According to multiple media reports, the closure of Macy's Northgate Mall location is part of a wider tranche of store closings that include at least 10 other retail locations. Those include: Northgate Mall, Cincinnati RiverGate Mall, Goodlettsville, Tenn. Charleston Town Center, Charleston, S.C. more
  12. Two downtown Dayton redevelopment projects receive $4.4M in historic tax credits By John Bush – Senior Reporter, Dayton Business Journal Two Dayton projects, including one of the largest redevelopment efforts in the city's history, have been awarded historic tax credits from the state of Ohio. The J.K. McIntire Building and the Third Street Arcade, which is part of a broader redevelopment project, will receive Ohio Historic Preservation Tax Credits, the state announced Thursday. MORE
  13. Iconic downtown office tower lands $5 million tax credit By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier Dec 19, 2019, 10:55am EST Updated 34 minutes ago City Club Apartments, which has been planning a conversion of the Central Trust Tower in downtown Cincinnati into apartments, landed a $5 million tax credit to help the project come to fruition. MORE
  14. Demolition of Millennium Hotel will take a year, Port CEO says By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier It will take a year to demolish the Millennium Hotel once the Port of Greater Cincinnati Development Authority acquires it, the Port's CEO told her board on Wednesday. Laura Brunner, providing an update on the project to the Port’s board, said she expected to ask members to pass a resolution to issue bonds to purchase and demolish the hotel in January. But first, the Convention Facilities Authority and Hamilton County would have to approve the use of the county’s hotel tax money to back the bonds, she noted. The city and the county share the excess money generated by the hotel tax. MORE
  15. Hotel Covington to expand as part of $22.5 million mixed-use project By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier Salyers Group and vR Group plan to redevelop the former YMCA building and Gateway Bookstore in Covington into a mixed-use property. The project would revitalize a visible corner of downtown Covington, transforming the 72,000-square-foot building at 19 E. Pike St. into a bourbon distillery experience, 10,000 square feet of office space and an expansion of Hotel Covington. The upper floors of the Covington YMCA will be converted into 60 VIP and presidential suites to complement Hotel Covington’s 114 existing rooms just to the south. MORE
  16. Liberty Center faces $700K debt payment shortfall Liberty Center could be more than $700,000 short on debt payments by January 2021 if fund projections don’t increase, the Journal-News reports. That’s according to a forecast from Cincinnati accounting firm Clark Schaeffer Hackett. The shortfall is projected to arrive by July 2020, when payment is due on an Ohio Water Development Authority loan, according to the firm’s cash flow projections. The Liberty Community Authority, which pays the debts with fees it collects from businesses, faces its next shortfall for that payment. MORE
  17. Work resumes on downtown building after partial collapse By Erin Caproni – Digital Producer, Cincinnati Business Courier Crews will resume work at the Fourth & Race development on Tuesday after a portion of the building collapsed during a concrete pour last week, killing one worker and injuring four others. Following the partial collapse on Nov. 25, general contractor Turner Construction partnered with structural engineering consulting firm Thornton Tomasetti to evaluate the site for stability. The review found that the first five levels of the building are secure along with the portions of levels six and seven that weren’t involved in the collapse. MORE
  18. I believe only the top was originally brown, not the entire building.
  19. Let the music play: Banks venue gets final approval By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier Nov 20, 2019, 5:59pm EST Updated 20 minutes ago The $27 million music venue set to go at the Banks has received all of the approvals needed from Cincinnati City Council to make the project a reality. City Council unanimously approved on Wednesday changes to the Banks’ concept plan and a development agreement that will allow for a music venue to be built on the mixed-use riverfront development. On Nov. 14, it approved an ordinance making major changes to the cooperative agreement with Hamilton County dividing up the remaining parcels between the city and county. MORE
  20. Oh boo hoo, you can still have the zoning and let the market decide where the space is practical. Major downtown business owners object to more office space at the Banks By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier Nov 20, 2019, 2:22pm EST Updated 3 hours ago The owners of major buildings downtown objected to a plan set to receive a City Council vote to expand the amount of office space that would be allowed to be built at the Banks. Neal Mayerson, owner of the Scripps Center at 312 Walnut St., said there is more than 1 million square feet of Class A office space downtown that is vacant. Meanwhile, rents have been stagnant for nearly three decades while expenses increase. He predicted it would hurt downtown property owners unless they were offered the right of first refusal for the new space. MORE
  21. It is a set area where the owners agree to additional taxes to fund certain activities. Things like security, cleaning, etc. or bricks and mortar project funds. Downtown Cincinnati, Inc. is funded by the downtown SID.
  22. Council vote moves OTR mixed-use project forward By Chris Wetterich – Staff reporter and columnist, Cincinnati Business Courier 2 hours ago A major mixed-use project being developed by Over-the-Rhine Community Housing and the Cincinnati Center City Development Corp. that will bring new affordable apartments and commercial space received tax breaks on Thursday from Cincinnati City Council. The Perseverance project will bring 32 new apartments, all of them affordable, and nearly 8,000 square feet of retail space to 1505-1517 Vine St. The project’s hard construction costs will be about $6.4 million, according to documents filed with the city. MORE
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