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I remember in when that building held Izzy's restaurant before they moved down the street, I didn't know it was the owner's home as well.

 

I was meaning home of the restaurant if you are saying that from my comment, though unlike as far back as I remember at least in 68 someone lived upstairs.

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^ That info on the Auditor's website doesn't read off of the scanned ownership cards under the "Images" section. Looking at those cards, it looks like it had been in the same family since 1945, but had different owners prior to that transfer. That's still a long time - and it does make you worry about the condition of the building.

 

Not to get off topic, but this seems like data that wouldn't be all that difficult to digitize - it's all already been scanned, you'd just need software to run OCR on what are pretty standard forms with clean handwriting.

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The 9th and Elm Project posted a video doing a walk-through of the property. Really doesn't look that bad (everything is relative, but it's certainly not as bad as many OTR buildings that have been rehabbed). On the first floor, there is one room where the floor joists appear to have collapsed, so the floor would need to be rebuilt with shored up joists. But other than that, nothing looks particularly challenging to address.

 

Building tour:

Presentation:

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Downtown Cincinnati hotel project moves forward

 

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A proposed downtown hotel on Seventh Street will receive needed easements under a measure approved by the Cincinnati Planning Commission on Friday.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/09/07/downtown-cincinnati-hotel-project-moves-forward.html

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The City released a memo for the upcoming potential capital projects.

 

http://city-egov.cincinnati-oh.gov/Webtop/ws/fyi/public/fyi_docs/Blob/4339.pdf?rpp=-10&m=1&w=doc_no%3D%273748%27

 

Some interesting notes

- The "Dream Campus" would require $20-30MM of city dollars for their parking garage.

- The Terrex Development at MLK / Reading is apparently still a long ways off - memo notes there is a $24MM financing gap (about half the cost of the project). If this project can't secure funding with UC already lined up as a tenant and solid developers behind the deal then it may be some time before anything gets built at the interchange.

- There is a note about a $100MM renovation and alteration of the Central Trust/PNC Tower into a mixed use property. I imagine that the office space in that building is dated... would be great to get some more lower class office space offline and into residential. ( I would think this building would be a shoe-in for historic tax credits).

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The City released a memo for the upcoming potential capital projects.

 

http://city-egov.cincinnati-oh.gov/Webtop/ws/fyi/public/fyi_docs/Blob/4339.pdf?rpp=-10&m=1&w=doc_no%3D%273748%27

 

Some interesting notes

- The "Dream Campus" would require $20-30MM of city dollars for their parking garage.

- The Terrex Development at MLK / Reading is apparently still a long ways off - memo notes there is a $24MM financing gap (about half the cost of the project). If this project can't secure funding with UC already lined up as a tenant and solid developers behind the deal then it may be some time before anything gets built at the interchange.

- There is a note about a $100MM renovation and alteration of the Central Trust/PNC Tower into a mixed use property. I imagine that the office space in that building is dated... would be great to get some more lower class office space offline and into residential. ( I would think this building would be a shoe-in for historic tax credits).

 

It's funny that the streetcar is constantly criticized because it doesn't cover all its own costs but no one questions the $100 million dollars spent on yet another highway interchange. Don't get me wrong, I think an interchange here is a better investment than the hundreds of millions of dollars spent on SR 32 in Clermont County and the Portsmouth Bypass, but still.

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Developer revises $90 million Kenwood project

 

The real estate developer planning a $90 million mixed-use project across the street from Kenwood Towne Centre has made some adjustments to its plans ahead of a meeting with Sycamore Township trustees.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/09/13/developer-revises-90-million-kenwood-project.html

 

cikenwoodrender1*1200xx2100-1181-0-10.jpg

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Office, retail, hotel planned on portion of former P&G campus

 

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Now that Ensemble Health Partners has selected the West campus of the former Procter & Gamble Co. Sharon Woods Innovation Center in Blue Ash for its corporate campus, the owners of the East campus have big plans for backfilling that site.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/09/25/exclusive-office-retail-hotel-planned-on-portion.html

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Final phase of Greiwe’s Mariemont luxury condos sold out

 

livingood-1*750xx1800-1013-0-94.jpg

 

The fourth and final phase of Greiwe Development Group’s Mariemont Village Square is finished and all of the luxury condominiums have been sold.

 

Livingood Park is an 18-unit condo development that joins Jordan Park, Emery Park and Nolen Park within walking distance of Mariemont’s Village Square. The last condo, a three-bedroom, 2.5-bathroom unit, sold on Sept. 25 for $1.6 million. 

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/10/09/final-phase-of-greiwe-s-mariemont-luxury-condos.html

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See the Cincinnatian Hotel’s $6 million renovation: PHOTOS

By Tom Demeropolis  – Senior Staff Reporter, Cincinnati Business Courier

 

The Cincinnatian Hotel, Curio Collection by Hilton, has finished its $6 million renovation.

One of the oldest hotels in Greater Cincinnati started interior demolition last fall on the public spaces on the first and second floors. That work is now complete, with the hotel hosting a grand opening 4-7 p.m. Thursday, Oct. 11.

 

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Port buys downtown parking lot for nearly $12 million

 

map250fifth-street*750xx1118-629-41-0.jp

 

The Port of Greater Cincinnati Redevelopment Authority has purchased the parking lot south of Duke Energy Convention Center for nearly $12 million.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/10/11/exclusive-the-port-buys-downtown-parking-lot-for.html

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Random question for those who might know TIFs better than me (i.e. anyone with a pulse): Because the city owned the property prior to selling it to the lessee, do all the proceeds from the sale of the Whex garage (~$1.8m) go directly into the relevant TIF account? Or is that windfall not part of the so-called "tail"? 

Edited by Pdrome513
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On 10/13/2018 at 10:49 AM, Pdrome513 said:

Random question for those who might know TIFs better than me (i.e. anyone with a pulse): Because the city owned the property prior to selling it to the lessee, do all the proceeds from the sale of the Whex garage (~$1.8m) go directly into the relevant TIF account? Or is that windfall not part of the so-called "tail"? 

I’m not 100% sure, but my understanding is that the only source of funding into the TIF is from property taxes. So, the full sale proceeds would go to the seller. That’s my understanding, though I could be mistaken. 

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Individual sales have nothing to do with TIF funds (other than a rising tide in appraised value hopefully).  It has to do with the increase (i.e. the "increment") from a frozen base value of property taxes when the TIF area was established.  E.G. if the area had an assessed tax value of $1,000,000,000 when established, and now the area an assessed tax value of $1,500,000,000, the taxes on the "new" $500,000,000 in value go to the TIF district, not the original taxing jurisdictions like City, County, Schools, Fire, etc.

Edited by The_Cincinnati_Kid
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Developer seeks tax credits, again, for $38M conversion of historical downtown building

 

provident7thandvine*750xx1800-1014-0-137

 

The Indianapolis-based real estate company planning a nearly $38 million conversion of a historical downtown Cincinnati office building into apartments has applied for state historic tax credits for a second time.

 

Pearl Cos., which purchased the Provident Bank Building at 642 Vine St., is requesting $3.75 million in Ohio Historic Preservation Tax Credits. The developer bought the building from Diamond Properties for $6.75 million. Jeff Tegethoff, president of Pearl, plans to convert the class C office building into 160 market-rate apartments.

 

Pearl applied for the same amount from the state in round 20, but did not receive it. The last round of state historic tax credits was awarded on June 20. 

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/11/07/developer-seeks-tax-credits-again-for-38m.html

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Hotel company launching new brand in downtown Cincinnati

 

building.jpg

 

A Chattanooga, Tenn.-based hotel management and development company is launching a new boutique hospitality brand in downtown Cincinnati.

 

Vision Hospitality Group, which purchased the Jeweler’s Exchange Building at 37 W. Seventh St., plans to convert the office building into a 94-hoom hotel. The new boutique hospitality brand will be called Kinley.

 

Officials with Vision Hospitality did not immediately respond to requests for comment.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/11/07/hotel-company-launching-new-brand-in-downtown.html

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I've noticed a building going up quickly on Erie Avenue next to the square. No pictures but I looked it up, looks like they are building this as there are no renderings on site, only Terex signs

https://www.terrexllc.com/projects/falling-leaves/

 

It looks like it will add favorably to the square in terms of a bit more height and street front presence than what was there before.

 

https://www.google.com/maps/place/2633+Erie+Ave,+Cincinnati,+OH+45208/@39.1397488,-84.4442577,3a,75y,174.95h,89.63t/data=!3m6!1e1!3m4!1s41VLYiHULwheXeUzLBfa3w!2e0!7i13312!8i6656!4m5!3m4!1s0x8841b27bce7ecbbb:0x90b205f5e04f2ea8!8m2!3d39.1395134!4d-84.444199

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Neyer Properties applies for $2.8M tax credit to convert downtown department store

 

Neyer Properties has applied for nearly $2.8 million in Ohio Historic Preservation Tax Credits for its planned conversion of the former Shillito’s department store into a combination of office, parking and ground-level retail.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/11/09/neyer-properties-applies-for-2-8m-tax-credit-to.html

 

shillitosrendering*1200xx1267-714-0-63.j

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Hotel brands lined up for downtown project; will 3rd time be a charm for tax credits?

 

Since acquiring Fourth & Walnut Centre in the heart of downtown Cincinnati, Mehul Patel has been set on converting the historical office building into a dual-branded hotel.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/11/14/exclusive-hotel-brands-lined-up-for-downtown.html

 

940783-Large-fourth-and-walnut-centre-ci

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HCB Staff has denied the demolition of 819 Elm St. To recall, the developer wanted to demolish the historic building in place of a taller, more dense unit building with an additional child care center.

 

On one hand the HCB is right, they ownership had ownership of the building since 2012 and has made no effort to preserve the building what so ever. Also, there are plenty of surface lots nearby that could be redeveloped, so I'm not sure why they are purchasing and attacking a historic building in a historic overlay district, when there are so many unused surface lots nearby. 

 

Is it really that more expensive to purchase a large surface lot instead, and redevelop that lot, rather than to go through the hassle of getting approval from zoning board and the HCB?

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Get a look inside a former downtown factory turned apartments: PHOTOS

By Tom Demeropolis  – Senior Staff Reporter, Cincinnati Business Courier

 

The former home of the Hamilton County Board of Elections, and before that the Crane-Hawley Co., has nearly completed its transformation into 69 urban apartments.

Crane Factory Flats, located at 824 Broadway, is a redevelopment project of a roughly 85,000-square-foot building by Rookwood Properties. The total investment in the building is about $8 million.

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I know I say this a lot, but it's great to see the continued conversion of old office buildings into other uses like residential and hotel. Not only are these buildings better suited for those types of uses, but it also keeps pushing down the vacancy rates for downtown office space. (What was the old BOE building considered, Class B? Class C?) Eventually this will help make the case for the construction of new office buildings in the core, replacing parking lots and other vacant/underutilized areas.

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Haven't seen this project listed but it could be grouped in the ongoing efforts to reignite the West 4th Street corridor. This one story building was clad with some non-ironic Post-Modern EIFS. They've scraped all that off and built two floors above and are preparing another right now. Not sure how high this is going but they probably won't be able to go higher than 4 stories above the podium with a stick built construction.

 

Building on the northwest corner of 4th and Plum is being entirely gutted. It was the former home to SFA/PDT (now Elevar Design Group, the architect of record for FC Cincinnati Stadium) and now the Ashley Builders Group is moving in.

Perry and Plum.jpg

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^That Plum St project has been in the works for at least a couple of years. Plans were circulated at some point (possibly through the HCB?). I recall the new construction being "townhouse style" with side-by-side, multi-level townhouses with rooftop decks and patios. I'll try to find those plans (which may or not have have been altered significantly in the intervening years). 

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