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Cincinnati: Downtown: Hampton Inn / Homewood Suites (Cincinnati Enquirer Building Redevlopment)

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Doesnt sound like this is going to happen anytime soon.  Anyone have any inside info?

 

Representatives from MED quit responding to my emails and phone calls months ago.

 

doesn't MED also own the lot across from 4th & Plum?

 

No, that was a myth perpetuated by a Business Courier article writing about the speculative future of the site.  The price the existing owner was asking for the land was far too much for MED to bear, thus resulting in no purchase by MED.

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has anyone heard anything about this project? I walk by it everyday and wish someone would do something with this beautiful building

 

I did notice that on Wednesday it appeared someone was in the building b/c the lobby lights were on. Couldn't tell for sure what was going on. There are also notices of water disconnect hung on the front

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Stalled downtown condo project could get new life

 

Middle Earth agrees to sell Enquirer Building to N.Y. firm

Business Courier - by Jon Newberry , Courier Staff Reporter

Date: Friday, January 28, 2011, 6:00am EST

 

 

Middle Earth Developers has agreed to sell the 85-year-old Enquirer Building on Vine Street to a New York developer that intends to revive a stalled $30 million downtown condo conversion project.

 

Read more: Stalled downtown condo project could get new life | Business Courier

 

http://www.bizjournals.com/cincinnati/print-edition/2011/01/28/stalled-downtown-condo-project-could.html

 

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Eh, hope you don't mind me posting a better article that requires no $ subscription...

 

Old Enquirer site may become apartments

By Lisa Bernard-Kuhn • lbernard@enquirer.com • January 28, 2011

 

DOWNTOWN - A New York-based developer is eyeing a nearly $40 million plan to renovate the former Cincinnati Enquirer building on Vine Street into more than 160-apartments with new street-level retail space. The project could get underway as early as this summer.

 

Landwhite Development LLC is under a contract to buy the 14-story building at 617 Vine St. from Camp Washington-based Middle Earth Developers - but only if the New York firm can land state and federal historic preservation tax credits as well state brownfield dollars to help fund the estimated $38 million project, said David Roos, COO and executive vice president of Landwhite.

 

Named Harkness Lofts, the plan calls for 167 apartments, 19,000 square feet of retail and office space on the building's second and third levels, Roos said.

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Eh, hope you don't mind me posting a better article that requires no $ subscription...

 

Old Enquirer site may become apartments

By Lisa Bernard-Kuhn • lbernard@enquirer.com • January 28, 2011

 

DOWNTOWN - A New York-based developer is eyeing a nearly $40 million plan to renovate the former Cincinnati Enquirer building on Vine Street into more than 160-apartments with new street-level retail space. The project could get underway as early as this summer.

 

Landwhite Development LLC is under a contract to buy the 14-story building at 617 Vine St. from Camp Washington-based Middle Earth Developers - but only if the New York firm can land state and federal historic preservation tax credits as well state brownfield dollars to help fund the estimated $38 million project, said David Roos, COO and executive vice president of Landwhite.

 

Named Harkness Lofts, the plan calls for 167 apartments, 19,000 square feet of retail and office space on the building's second and third levels, Roos said.

 

Good call

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Looks like Middle Earth still is sitting on this property. It's a shame because it could be a great apartment community right in the heart of downtown.


“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche

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Old Enquirer building on Vine gets sales push from CBRE

Business Courier by Tom Demeropolis, Staff Reporter

Date: Friday, January 27, 2012, 6:00am EST

 

 

A vacant downtown building that was once home to the Cincinnati Enquirer has a chance at new life as an apartment building.

 

The 617 Vine Street building has been in receivership since September. Its owner, an affiliate of Middle Earth Developers, purchased the building in 2007 with plans to turn it into condos, but wasn’t able to develop the property.

 

http://www.bizjournals.com/cincinnati/print-edition/2012/01/27/old-enquirer-building-on-vine-gets.html

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According to a Facebook post from Building Cincinnati this morning, the Enquirer building will be a hotel and not residential.

 

The post:

 

People, a hotel is going to be in the old Enquirer Building at 617 Vine St. Story to come. You heard it here first.

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I would have preferred more apartments too, but getting this building filled and re-activated is still a Good Thing, especially if it leads to some street-level retail or a restaurant.

 

looking at the hotel company's web site (http://www.sree.com), it looks like they work with multiple hotel chains, including Comfort Inn, Fairfield Inn, Marriott, Westin, aloft, and Courtyard.

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Ditto!  Nice to see something going on in that building.  If they were going to do a hotel though, the old Terrace Plaza would be much easier to renovate I would think (unless those owners are still holding out for a high price).

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This news is bittersweet, but I'll reserve full judgement until there's a full press release on this project. I agree that this building would be excellent for apartment or condo conversion, but I also think downtown Cincinnati is underserved in the hotel arena (particularly by mid- and upper-midscale brands)

 

The real question is... where does this leave the Terrace Plaza? With 4 (!) new hotels in the pipeline downtown (Holiday Inn Broadway, 21C, Enquirer, Banks) and a Hyatt rennovation, I don't see how they'll be able to re-open as a hotel anytime soon, but the developers have also stated that it's a poorly situated building for condos because of the small windows and lack of natual light.

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This news is bittersweet, but I'll reserve full judgement until there's a full press release on this project. I agree that this building would be excellent for apartment or condo conversion, but I also think downtown Cincinnati is underserved in the hotel arena (particularly by mid- and upper-midscale brands)

 

The real question is... where does this leave the Terrace Plaza? With 4 (!) new hotels in the pipeline downtown (Holiday Inn Broadway, 21C, Enquirer, Banks) and a Hyatt rennovation, I don't see how they'll be able to re-open as a hotel anytime soon, but the developers have also stated that it's a poorly situated building for condos because of the small windows and lack of natual light.

 

And doesn't the casino gain rights to build an on-site hotel after a few years? Perhaps in the space currently occupied by Greyhound?

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I agree that it is bittersweet. on the positive, a classic building will find new life and I think a newly done hotel will continue to boost the visitor perception of downtown (can't tell you how many visitors are ho-hum on our hotel offerings).  That being said, it does in fact limit the possinility Terrace Plaza being renovated for hotel purposed and in the banks for that matter.  By the same token though, wouldn't 100 units of resendential lessen the possibility of new downtown condos being built, perhaps on surface lots?  I guess the argument goes both ways. 

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I don't believe it lessens the demand for both because demand in both uses is so strong for downtown. Downtown needs both more hotels and more residential. The disappointment here is that previous hotels like Terrace Plaza continue to linger abandoned as new hotels are developed from previous office (Old Enquirer Building, Old Red Cross Building), residential (Metropole & Phelps buildings) or on new ground (Casino & the Banks). And even though new residential is planned at the Banks and 5th & Race, there are no plans for conversions of old Class C spaces such as the Bartlett Building into residential.

 

Downtown development should focus on both restoring, rehabilitating and adapting old buildings as well as new construction, both of which appeal to different markets. The population downtown is still too small for a full service grocery store however small steps are being made (at least in OTR) to provide more services for residents. New residential and mixed-use construction on existing parking lots and renovations of smaller buildings have a better chance of happening with the removal of parking requirements.


“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche

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"I think a newly done hotel will continue to boost the visitor perception of downtown (can't tell you how many visitors are ho-hum on our hotel offerings)."

 

I cannot agree with you more on this and that is why I can't be too upset about a hotel over residential. It's ultimately a win-win: new hotel downtown, vacant space in an architecturally significant building is filled.

 

I won't beat a dead horse here, but for how vibrant the business community is downtown, our hotel offerings are for the most part an absolute insult. Cities like Cleveland, Indy (especially Indy, in fact), and Pittsburgh have far, far better hotel choices than we do. Having the Hyatt remodel and likely 4 new properties downtown will really force the others to reconsider putting off major renovations much longer. The Hilton Netherland doesn't even have WiFi in their guest rooms. Are you serious?!?

 

 

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Worst case with this becoming a hotel is that it could be converted relatively easily to apartments/condos in the future with no lead remediation or major interior rehabbing necessary.


"Someone is sitting in the shade today because someone planted a tree a long time ago." - Warren Buffett 

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Here's hoping for something like an Ace Hotel for that building.


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Historic Enquirer building will have two Hilton brand hotels

Business Courier by Jon Newberry, Staff Reporter

 

The proposed hotel to be developed in the former Enquirer building at 617 Vine St. in downtown Cincinnati will be a dual-brand facility featuring two Hilton limited-service hotels, according to the project’s developer.

 

Parag Patel, chief finance and development officer for Charlotte, N.C.-based SREE Hotels LLC, said the Enquirer building project will feature two of three Hilton brands among Hampton, Homewood Suites and Hilton Garden Inn. It will be the group’s first historic renovation and first hotel in the region, he said.

 

As the Business Courier reported earlier, a tax abatement deal was approved by Cincinnati City Council’s budget and finance committee on Monday and goes before the full council on Wednesday. The 75 percent abatement equates to about $7 million over 12 years.

 

Cont


"It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton

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Okay, I'm 100% on board with this now. This fills a huge gap in Hilton family brands downtown as well as limited service hotels downtown.

 

These dual branded properties are becoming more and more common as a single property can use the same infastructure to cater to two different sets of guests: in this case, extended stay and non extended stay, but with one set of laundry facilities, one pool, etc etc. It brings the costs down significantly for owners  I believe NYC and Atlanta have a few like this.

 

Here's the link to the Atlanta property: http://www.homewoodsuitesmediacenter.com/index.cfm/newsroom/detail/20067?ref=hww

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It will be the group’s first historic renovation and first hotel in the region, he said.

 

I'm really interested to see how they handle the renovation.

 

Does anyone have interior pics?

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Why did the apartments project fail?

 

It wasn't that the apartment project failed so much as it was a hotel developer reached a deal first.

 

Building is in receivership, previous owner wanted office space but went bankrupt. I think it was an out of state company. Receiver was approached by SREE and a deal was made. My understanding is the agent working for the receiver had commented on possibly apartments, but without parking there was little movement

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Why did the apartments project fail?

 

It wasn't that the apartment project failed so much as it was a hotel developer reached a deal first.

 

Building is in receivership, previous owner wanted office space but went bankrupt. I think it was an out of state company. Receiver was approached by SREE and a deal was made. My understanding is the agent working for the receiver had commented on possibly apartments, but without parking there was little movement

 

Middle Earth's apartment project (proposed in 2007 and leading to the foreclosure) did fail. I won't speculate on the reason, but nationally that was not the best time for development.

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Maybe there is hope they will tackle the Terrace Plaza after all!

 

Developer eyeing more sites for downtown Cincinnati hotels

Business Courier by Jon Newberry, Staff Reporter

Date: Friday, August 3, 2012, 6:00am EDT

 

The developer of a $28 million renovation at the former Enquirer building on Vine Street is already looking for more hotel sites downtown.

 

And SREE Hotels LLC is not alone, as commercial real estate brokers say the project reflects the rising level of interest for hotel and residential properties in downtown Cincinnati.

 

http://www.bizjournals.com/cincinnati/print-edition/2012/08/03/developer-eyeing-more-sites-for.html

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That's great, though the Terrace Plaza is going to be a more complex project - it really would make more sense as a full-service hotel due to some of its more unusual spaces, and all of that windowless space would need to be developed.  i've still got my fingers crossed for a W hotel...

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If SREE is interested in limited-service (Hampton Inn, Holiday Inn Express, Fairfield Inn, etc) as the article states, TP is likely not going to be a contender...it has massive conference/banquet space, restaurant space, kitchens, etc that would not suit these type of hotels. I wouldn't be mad about some new infill though...

 

And what is everyone's best guess on the Bartlett Building? Hotel or residential?

 

 

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A hotel operator/developer wouldn't necessarily have to tackle the entire TP; they could acquire only the hotel portion of the building and redevelop it that way, leaving the retail and windowless office space to a developer better suited to the task. 

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Cincinnati will likely get an aloft before a full on W. My bets are this brand will end up at the Banks. SREE has developed several of these, so this could all very well be the case.

 

21C should fill the high-end boutique segment quite well though.

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Not really. 

 

Cleveland has 3720 hotel rooms downtown: 

 

http://www.cleveland.com/business/index.ssf/2011/04/downtown_cleveland_hotels_pin.html

 

Even counting the rooms at 21C, the 8 downtown hotels (21C, Residence Inn, Milennium, Hilton, Hyatt, Garfield, Westin, Cincinnatian) only have 2842 rooms.  Seems like there's room for more. 

 

http://www.cincyusa.com/accommodations/

 

 

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I'd be curious if some of DT hotel traffic is lost to KY and the 'burbs simply because we do not offer a wide variety and/or cater to all price points. This project is a step in the right direction. Many people are likely priced out of downtown and head to Covington or Blue Ash.

 

All I have to say is that there is definitely a reason why there's all this interest in downtown hotels. Not sure what that is though... Nielsen, Omnicare and KAO are now downtown and this does not hurt, but what else? The casino?

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It's also my understanding that in the past demolition has been discussed as an option on the table for the Millennium....which would make sense because the owners have invested ZERO money into it. Extremely outdated property. This comes from someone close to 3CDC.

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