OTR Work Group - July 19 2011

8/6/2019 OTR Work Group - July 19 2011

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INVESTMENTS TO DATE

Ove r t he pas t 6 yea r s :

$155 Mi l l ion CEF/CNMF investment

$122 Mi l l ion pr ivate investment$47 Mi l l ion Ci ty investment

( w i t h a d d i t i o n a l p l e d g e o f 1 6 . 4 t h r o u g h T I F d i s t r i c t s o v e r t h e n e x t

2 0 y e a r s w i t h a N P V o f $ 7 . 7 m i l l i o n )

$324 MillionI nves t ed i n down town and OTR


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CENTRAL BUSINESSDISTRICT


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OVER-THE-RHINE


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INVESTMENTS TO DATEIN OTR


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UPCOMING INVESTMENTS

Ove r t he nex t 12 mon ths :

Mercer Commons - $50 Mi l l ion

Gateway V - $27 Mi l l ion

Homeless to Homes - $25 mil l i on

$102 Million

I nves t ed i n OTR


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OVER-THE-RHINE


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RESIDENTIAL SALES

Gateway I , I I , I I I & IV : 144 of the 186 condos (77%) are sold


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RESIDENTIAL SALES

Ga te w ay I V, Wes t f al e n Lo f ts : Completed in late March, 9 units


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RESIDENTIAL SALES

Gateway IV, C i t y H ome Phase 1 B: Ribbon Cutting TODAY, 4 units


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RESIDENTIAL LEASING

Gateway I , I I & I I I : 68 of the 68 apartments (100%) are leased


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RESIDENTIAL LEASING

12 apartments designated for Art Academy of Cincinnati students

Continuously occupied

32 apartments located in Parvis Lofts, 1400 block of Vine

Opened in December 2010 and leased within three months

16 apartments converted from condos located in Belmain, 1202 Main St

Opened in June 2011 and leased within one month

8 apartments located at 24 East 14th Street

Opened in December 2010 and leased within one month


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COMMERCIAL LEASING

64% of space leased (58,189 SF of 91,038 SF). Currently negotiatingmultiple leases.


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Cincy Haus Opened April 30

COMMERCIAL LEASING


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A Tavola Bar + Trattoria Opened May 31

COMMERCIAL LEASING


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Abigail Street - Coming Soon

COMMERCIAL LEASING


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COMMERCIAL LEASING

Opening soon

Abigal Street, 1216 Vine Street

Taste of Belgium, 1133-35 Vine Street

Bakersfield, 1213 Vine Street

Ionic Collective, 1326 Vine Street

Harper Sloane, 1216 Vine Street

On The Run Cleaners, 1332 Vine Street

Currently negotiating 8 letters of intent

Would bring total leased SF to 80% of available space


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Saengerhalle Office Building, home of 3CDC

COMMERCIAL LEASING


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Parvis, 1400 Block of Vine

COMMERCIAL LEASING


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PARVIS TENANTS

Parvis Tenants SF Business Type

Projected

Employees

OTR Sales Center 1,065 Residential sales 2

Mannequin 1,980 Clothing Boutique 3

Brandery 4,605 Consumer marketing

venture accelerator

28

Kathy Hamm Gallery 565 Art Gallery 2

Available Space 7,490 --- ---

Total 15,705 35


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A non-profit, started in 2010

Entrepreneurship support organization focused on

economic growth in the region

Annually selects 5 companies for a 12 week program

Each receive $20,000 in seed funding

Three months of mentorship

An opportunity to pitch to angel investors and

venture capitalists at the end of the program

In 2011, The Brandery plans to become a community

center for start-ups in the Greater Cincinnati region

PARVIS TENANTS


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NEW SERVICES

$6 Valet Parking Loca ted on V ine St . Thurs Sat 5pm to M idn ight


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Ambassador Program Route includes Vine and Main streets between Liberty Ave. and Central Parkway and 12th

and 13th streets between Vine and Main streets

Office is located at 1417 Vine St.

Clean Team

One ambassador

Schedule

o Monday through Friday, 6am to 2:30pm

o Saturday & Sunday 8:30am to 5pm

Focus on litter patrol, graffiti removal, weed abatement, and pressure washing

Safe Team

Two ambassadors

Schedule

o Thursday, Friday and Saturday from 3:30pm to Midnight

Panhandling interactions, bike patrols and safety patrols.

NEW SERVICES


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Mercer Commons

Color Building

15th & Republic

Parvis IIBakery Lofts

13th & Republic

Nicolay

1401 Elm

Westfalen II


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Mercer Commons

$50 million project

2.67 acres 19buildings and 26

vacant parcels

101 market rate apts.

30 affordable apts.

28 condominiums

28,651 SF commercial

369 parking spaces


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MERCER COMMONS


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MERCER COMMONS

Phase 1 Phase 2 Phase 3 Total

Commercial/Office (SF) 13,853 13,725 1,073 28,651

Condos 28 - - 28

Apartments - 67 64 131

Parking 350 - 19 369


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MERCER COMMONS


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MERCER COMMONS


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Aerial view from southeast

MERCER COMMONS


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Phase I

MERCER COMMONS

Phase 1 Commercial/Office (SF) 13,853 Condos 28 Apartments 0 Parking 350


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Proposed Vine Street Elevation

Existing Vine Street Elevation


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Vine Street Elevation - East

Mercer Street Elevation - South

MERCER COMMONSPhase I E leva t ions & Render ings

Vine Street Rendering


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Phase II



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Proposed Walnut Street Elevation

Existing Walnut Street Elevation

New Building G


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MERCER COMMONSPhase I I E leva t ions & Render ings

Walnut Street Elevation - West

14th Street Elevation - South Walnut Street Rendering


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Phase III



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MERCER COMMONSPHASE III ELEVATIONS

14th Street Elevation - South

Mercer Street Elevation - North


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Color Building1400 Vine St.

Project Cost: $4.1 million6,000 SF office3,680 SF restaurant/retail


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GATEWAY QUARTERPHASE V:

Prior to renovationover 100,000 grossSF of space

21 vacant buildingswill be redevelopedinto 98 residentialunits and 8,500 SF

street levelcommercial space


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13

th

and Republic12,600 Gross SF9 for sale units1,065 SF of commercial spaceProject cost: $2,579,626


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Westfalen II1426-1438 Race Street

32,798 Gross SF30 for sale units5,400 SF of commercial spaceProject Cost: $6,699,554


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Bakery Lofts Project1421 23 Race St.

10,402 Gross SF9 for sale unitsProject Cost: $2,344,266


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Republic Street Project

6,500 Gross Sf5 for sale units, 17 rentalsProject Cost: $3,846,821


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Parvis II1406 and 1412 Republic Street

12,300 Gross Sf13 rentals1,130 SF of commercial spaceProject Cost: $2,550,407


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Nicolay1401 Republic Street

13,293 Gross SF9 for sale units1,035 SF of commercial spaceProject Cost: $2,180,202


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1401 Elm7,290 Gross SF6 for sale unitsProject Cost:$1,522,518


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THANK YOU

Documents

OTR Work Group - July 19 2011