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Cincinnati: Downtown: Eighth & Main Redevelopment

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9 hours ago, taestell said:

 

My understanding is that they have all the approvals necessary to start construction immediately.

 

Correct. They should have their financing finalized by the end of the year and construction will begin quickly.

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10 hours ago, Dresden11 said:

 

Correct. They should have their financing finalized by the end of the year and construction will begin quickly.

Yikes. That makes me nervous. I thought they had agreed to NOT demolish the building until financing was finalized. 

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1 hour ago, jwulsin said:

Yikes. That makes me nervous. I thought they had agreed to NOT demolish the building until financing was finalized. 

They probably have a firm commitment for financing and will be closing by the end of the year. That would mean it is just a matter of paperwork at this point.

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46 minutes ago, taestell said:

It may have been a situation where the bank would not give the final sign-off for the financing until the building was actually demolished.

 

That's almost undoubtedly true. Unfortunately a very common requirement that leaves a short period of limbo where a building is demolished and there's not yet actually financing available to start.

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There are contractual draws for big projects, unlike a single-family house.  A large project has draws for just the demolition, then just the foundation, then just the structure, then just the outfitting, etc.  This protects the bank from characters absconding with large sums of money, using leant money for purposes other than what was agreed upon, etc. 

 

In the unlikely event that a naïve developer builds something very large with cash, they are in danger of being ripped off at any stage in the process.  The bank acts as an outside regulator that brings some semblance of order to the construction process. 

 

 

 

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I really like this east area of downtown.  It's got some classic old restaurants/bars/shops with new developments mixed in.  It's also really close to Main St in OTR.  I live on the west side of downtown so I don't get over to this area very often but when I do I always think how nice it's developing.  

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11 minutes ago, tastybunns said:

All of your infill is making us Cleveland peeps jealous.

 

A few weeks ago I was in Cleveland and I really enjoyed walking Euclid Ave from E. 14th west toward Public Square. So much great urbanity. Then I got to the other side of Public Square and saw one of the biggest parking lots I've ever seen, bounded by Detroit Ave on the south and St. Clair on the north. How on earth is this huge lot still here? It has to have a development plan in place right? It's prime real estate! Sorry to go off topic but I think about this lot a ton now haha.

 

 

cleveland lot.JPG

Edited by DEPACincy

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The lot to the right of W. 3rd used to be the Jacob's lot development, which is where this was supposed to go 30 years ago:

image.png.0410b0a3c58fcde0416903813ef611f9.png

It was supposed to be taller than key tower, but now there's maybe talk to re-envision this for Sherwin Williams, and the block to the left of W. 3rd is supposedly to be 'envisioned' Weston superblock, which hasn't seen any press or inside info for the past 3 years now which would take over that massive lot. We consider this project dead until further updates:

image.png.d6bdb177d7619411a3af3243e2ca0a1f.png

 

Who knows, one day we may see both projects happen. But seeing that we cant even get Nu-CLEus off the Ohio Senate floor for transformational tax abatement, I have no idea if we would see anything of these magnitudes in the near 10 year future.

Edited by tastybunns
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1 hour ago, tastybunns said:

All of your infill is making us Cleveland peeps jealous.

 

Sadly, this "infill" required a demo.  Cincinnati has had plenty of examples in the past 25 years where old buildings were demoed for something new directly across the street from surface parking. 

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2 minutes ago, jmecklenborg said:

 

Sadly, this "infill" required a demo.  Cincinnati has had plenty of examples in the past 25 years where old buildings were demoed for something new directly across the street from surface parking. 

Yes, but the existing building was literally unusable without removing every other floor so that ceiling heights would be more than 7' high. And even then, the columns were situated in a way that wasn't great for development.

 

Additionally, we all know very well those lots aren't for sale, so that argument is unfortunately null at this point.

 

Thirdly, this is an insanely dense development for the building's size. Demolition is something I am fine with if what replaces it winds up better serving the city over what could have been done with what was there, and what was there couldn't do much for the city. Obviously then there are other factors like design that I consider, but I trust Senhauser to do a good job.

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9 minutes ago, jmecklenborg said:

 

Sadly, this "infill" required a demo.  Cincinnati has had plenty of examples in the past 25 years where old buildings were demoed for something new directly across the street from surface parking. 

 

I remember even the mighty John Schneider going on record saying this building wasnt able to be repurposed. 

 

The reality was that it was a detoriating building smack dab in our CBD. It was a very visible building that only purpose was a ground floor retail donatoes location.

 

At least we are getting something tall and dense from this project as opposed to the pocket parks Dennison hotel fiasco.

 

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17 hours ago, troeros said:

At least we are getting something tall and dense from this project as opposed to the pocket parks Dennison hotel fiasco.

 

 

Astroturf park.   Again the Josephs are morons.

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21 minutes ago, troeros said:

How many stories and how many residential units again?

13 floors not sure how many units. I know they are micro units I believe it is 125 total with ground floor retail.

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13 floors will be a good size there.  The northeast side of downtown has really changed in the past 3 years between this, the new Kroger development, and the two previous apartment buildings.  A nice little infill building boom there.  

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7 hours ago, jdm00 said:

13 floors will be a good size there.  The northeast side of downtown has really changed in the past 3 years between this, the new Kroger development, and the two previous apartment buildings.  A nice little infill building boom there.  

There’s a plan for a second tower across the street (14 floors)where there currently is a parking lot. I’m guessing that will only happen if theses apartments are successful. Would love to see all the parking lots between this building and encore turned into 10-15 story mid rises. 

Edited by Ucgrad2015
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3 hours ago, Ucgrad2015 said:

There’s a plan for a second tower across the street (14 floors)where there currently is a parking lot. I’m guessing that will only happen if theses apartments are successful. Would love to see all the parking lots between this building and encore turned into 10-15 story mid rises. 

 

I'm here for it. Would completely change the complexion of downtown. It would start to have a "big city" feel. 

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15 hours ago, Ucgrad2015 said:

13 floors not sure how many units. I know they are micro units I believe it is 125 total with ground floor retail.

 

Aren't they also taking advantage of the recently scrapped parking requirements and including significantly less parking than what a project like this would typically require? 

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31 minutes ago, Lucas_uLsac said:

 

Aren't they also taking advantage of the recently scrapped parking requirements and including significantly less parking than what a project like this would typically require? 

 

Essentially no parking is being provided.

 

125 units at an average of 790 SF per unit. 

Edited by Dresden11

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3 minutes ago, Dresden11 said:

125 units at an average of 790 SF per unit. 

 

Are we talking gross SF?  Because 790 SF is quite a big 1-bedroom or a perfectly adequate 2-bedroom apartment.  We had some discussions on previous pages that even 400 SF isn't really micro, it's more studio/efficiency size.  Now if that 790 SF includes hallways, laundry, lobby, elevators, stairs, and everything else, then yeah maybe cuts the number down by about half but that's still a decent size.  

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Incredible! Aside from probably Chicago, I can't think of another Midwestern city that has a project like this, with virtually no parking. If this project proves successful (I think it will be highly successful) I wouldn't be surprised to see more mid/high-rises with small units and minimal parking. It'll be similar to New York City where residents who have cars typically don't use them during the week and leave them parked in garages or streets blocks away from their apartment.  

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16 hours ago, Ucgrad2015 said:

13 floors not sure how many units. I know they are micro units I believe it is 125 total with ground floor retail.

I thought the micro unit idea was shelved and they decided to do more market rate apartments? THis project has changed so many times. Outside of the building design, what exactly is it going to be? Last I heard it was luxury apartments??

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5 hours ago, jjakucyk said:

 

Are we talking gross SF?  Because 790 SF is quite a big 1-bedroom or a perfectly adequate 2-bedroom apartment.  We had some discussions on previous pages that even 400 SF isn't really micro, it's more studio/efficiency size.  Now if that 790 SF includes hallways, laundry, lobby, elevators, stairs, and everything else, then yeah maybe cuts the number down by about half but that's still a decent size.  

 

Sorry- I should have clarified. I believe there's a mix of micro, studio, 1 bed, and 2 beds ranging from 440 to 1,300 SF respectively (from what I've been told) The 790 SF is the average when taking the mix into account.

Edited by Dresden11

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54 minutes ago, Lucas_uLsac said:

Incredible! Aside from probably Chicago, I can't think of another Midwestern city that has a project like this, with virtually no parking. If this project proves successful (I think it will be highly successful) I wouldn't be surprised to see more mid/high-rises with small units and minimal parking. It'll be similar to New York City where residents who have cars typically don't use them during the week and leave them parked in garages or streets blocks away from their apartment.  

 

Currently live downtown and this is what I do. I drive my car a couple of times per month, usually to go to Kroger. It is parked in a garage that is a 10 minute walk from my apartment. 

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