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Cincinnati: Downtown: Traction Building (Kimpton Hotel)

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This is great news on a couple fronts. First projects i am working on can move up on the list to receive tax credits. Second, the traction building needs a lot of love with such an exposed site to the city. These tax credits will finally get the project going for the owner.

 

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Finally, developers land $4.2 million tax credit for downtown Cincinnati Kimpton Hotel

 

The developers looking to bring the region’s first Kimpton Hotel to downtown Cincinnati finally received Ohio Historic Preservation Tax Credits to help with the project.

 

More below:

https://www.bizjournals.com/cincinnati/news/2018/06/20/finally-developers-land-4-2-million-tax-credit-for.html

 

thetractionhotel*750xx667-889-0-34.jpg

 

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This is great news and a perfect example of a project for the Ohio Historic Preservation Tax Credits. With only one interior stair, the building has been grandfathered in but would need a huge amount of money to bring up to current code requirements. The tax credits will help bridge the financial gap that these historic issues entail so this gem of a building, located in such a high profile location, can finally get the update it needs.

 

Hopefully everything can move forward now that his has finally been awarded.

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This is great for downtown as we need more hotels.

 

The article mentions this hotel is one of 12 projects in Southwest Ohio that were awarded state historic tax credits in round 20.  Do we have a list of the others who won and those who didn't? Hopefully the other potential hotels downtown that applied won their credits. 

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This is great for downtown as we need more hotels.

 

The article mentions this hotel is one of 12 projects in Southwest Ohio that were awarded state historic tax credits in round 20.  Do we have a list of the others who won and those who didn't? Hopefully the other potential hotels downtown that applied won their credits. 

 

The list wont be published until June 30th. But as projects are being notified of being granted tax credits its hitting the news.

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Anybody know the history of the name of this building? Above the entrance on Walnut it says "Tri State Building"... but it's also sometimes called The Traction building. Where does The Traction name come from?

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Anybody know the history of the name of this building? Above the entrance on Walnut it says "Tri State Building"... but it's also sometimes called The Traction building. Where does The Traction name come from?

 

Was the HQ of the Cincinnati Traction Company.

 

https://www.cincinnati.com/story/news/2016/09/03/how-streetcar-shaped-cincinnati/89578612/


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

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Additional construction fencing and dumpsters went up outside traction building today along fourth street. Looks like work is starting to progress on this project as well.

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Additional construction fencing and dumpsters went up outside traction building today along fourth street. Looks like work is starting to progress on this project as well.

 

They have a long way to go with demolition and discovering all the fun hidden treasures of a 100 year old building, but this project is definitely happening. 

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Kimpton hotels are so great, some of my fav hotel stays have been at Kimpton hotels. It'll offer an experience similar to 21c, so this will be a really nice addition to downtown.

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40 minutes ago, 646empire said:

Does anyone know how much progress is being made on The Kimpton Hotel at 5th and Walnut? I believe it’s called the Traction Building. 

 There is a page for this project in the forum, however at this time seems like they are in permitting at the moment for this project. 

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This project is still progressing.  Just like every other project, financing takes forever.  Expect new construction work to start this fall.  No idea when it will open, but I'd guess Fall 2020.

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any updates on this project? it has been quiet for so long.

 

of all the downtown boutique hotel conversions, this one excites me the most if they can make it happen. The location is prime and perfect for it. Plus I am sure they can market the old CAC space as event space for the hotel.

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4 minutes ago, Brutus_buckeye said:

any updates on this project? it has been quiet for so long.

 

of all the downtown boutique hotel conversions, this one excites me the most if they can make it happen. The location is prime and perfect for it. Plus I am sure they can market the old CAC space as event space for the hotel.

 

Actually  they started installing scaffolding around the building today, to protect pedestrians using sidewalk. Makes me think the exterior work should begin soon. I was excited to see them installing it at lunch time today. 

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3 minutes ago, Brutus_buckeye said:

That is good news. I like this location a ton and it will be a great addition to the center of the city.

Yes, the exterior needs alot of restoration work. You can see this building clear as day coming into the city from 471. With the federal reserve, courthouse, and the fifth street placement, majority of the hotel rooms will all have a view. 

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30 minutes ago, savadams13 said:

 

Actually  they started installing scaffolding around the building today, to protect pedestrians using sidewalk. Makes me think the exterior work should begin soon. I was excited to see them installing it at lunch time today. 


Thank the looorddd! Lol. Similar to what the other poster said, This is the one I wanted the most! The location sitting adjacent to Fountain Square is perfect plus Kimpton is a great brand 

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42 minutes ago, Brutus_buckeye said:

any updates on this project? it has been quiet for so long.

 

of all the downtown boutique hotel conversions, this one excites me the most if they can make it happen. The location is prime and perfect for it. Plus I am sure they can market the old CAC space as event space for the hotel.


the old CAC isn’t part of this project and it has already been renovated/opened as an event space, it’s called “the center” or something correct? 
 

edit: https://thecentercincinnati.com/

 

apparently it’s doing well too.

Edited by 646empire
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I didn't know what was going on with that space.  I am quite nostalgic for it because I saw so many art shows there and had a bunch of things pop back in my head as I watched the wedding set-up video.  It was a really great medium-sized art gallery.  It was a much more pleasant and flattering space than the parking garage aesthetic of the new CAC.  

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Two hotel projects move forward

 

Two hotel projects, one downtown and another in Corryville, could move forward after the Cincinnati City Council approves property tax breaks for them on Wednesday.

 

Council’s budget committee has given initial approval to tax abatements for a hotel conversion project at 432 Walnut St. downtown, which currently is vacant. It is expected to become a Kimpton hotel with a $50 million project cost, Phil Denning, the city’s economic development director, told council members on Monday.

 

Tennessee-based Parkes Development Group is rehabilitating the 15-story structure known as the Traction Building. The developer has obtained state and federal historic tax credits for the project, which will build 147 hotel rooms along with a restaurant, fitness room, ballroom space and rooftop bar.

 

 

More below:

https://www.bizjournals.com/cincinnati/news/2019/12/03/two-hotel-projects-move-forward.html

 

thetractionhotel*750xx667-889-0-40.jpg

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