State of Downtown
The Progress of Downtown Cincinnati in 2012
Contents 1
Introduction
3
Live
10 Work 18 Play 27 Destination: Downtown 30 On the Horizon
1
downtown cincinnati INC.
About This Report Downtown Cincinnati Inc. (DCI) is a non-profit organization with a mission to build a dynamic metropolitan center valued as the heart of the region. DCI supports this mission by providing unique services in three areas: safe and clean, marketing and communications, and stakeholder services. The organization is funded by the property owners in the Downtown Cincinnati Improvement District, which includes property within the boundaries of Eggleston Avenue, Central Parkway, Central Avenue, and the Ohio River. DCI provides leadership and information regarding community and development issues, working together with public and private partners to ensure long-term downtown vitality.
Partners Downtown Cincinnati Inc. thanks the following individuals and organizations for their assistance in compiling the 2012 annual State of Downtown Report. 3CDC
Cincideutsch
Apartment Realty Advisors
Cincinnati Bengals
Cincinnati’s arts, culture, sports & entertainment venues
Cincinnati Ballet/Peter Muller
Cincinnati Business Courier Cincinnati Multiple Listing Service Cincinnati USA Convention & Visitors Bureau
Cincinnati Opera/Philip Groshong Cincinnati USA Convention & Visitors Bureau City of Cincinnati
The data presented in this report is derived from many sources, including reports by the media and information collected directly from organizations. To provide us with more accurate data on any information contained in this report, to request information not contained in this report, or to place your name on our e-mail list for future report mailings, please send an email to SODreport@downtowncincinnati.com.
Cincinnati USA Regional Chamber of Commerce
Thadd Fiala
City of Cincinnati
First Financial Bancorp
Colliers International
Flaherty & Collins/RTKL Architects
Downtown Residents Council
Hollyann Howard
Enquirer Media
The Lofts at Fountain Square
Amy Smith UrbanCincy
Main Library/Public Library of Cincinnati and Hamilton County
Xceligent, Inc.
The Mercantile Library
Photos courtesy of:
Metro Cincinnati
3CDC
Metromix
• cincinnati-oh.gov
5chw4r7z
Over the Rhine Living
• cincinnatichamber.com
Art Beyond Boundaries/Jymi Bolden
Project Downtown Cincinnati
• cincinnatiUSA.com
ArtWorks
The McAlpin
• cincyusa.com
Bunbury Music Festival/ Joshua Timmermans
The Reserve at 4th and Race
Dennis Camp
UrbanCincy/Randy Simes
Charles Barilleaux
VisuaLingual
Smith Travel Research
Fido Field
Revive I-75
Please visit DCI’s website, downtowncincinnati.com, for more downtown related publications. Visit these websites for additional information on downtown Cincinnati: • choosecincy.com
• ilivedowntown.com • myfountainsquare.com • otrchamber.com
downtown cincinnati INC.
2
live
Downtown’s thriving residential community reflects the growing choice of individuals and families seeking the vibrancy of an urban neighborhood and the ease of a short commute. The estimated total downtown population reached over 13,400 in 2012. Decreasing crime rates and rising perceptions about the safety, activity and attractiveness of downtown are evidence of a city center that is increasingly welcoming and livable.
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OTR CBD Periphery CBD
DOWNTOWN POPULATION TRENDS
14,000
population
8,000
13,401*
7,785
7,803
5,429
5,598
2011
2012
11,848
12,000 10,000
13,214
PEN
8,375 4,107
9,026
6,996
4,743
6,000 4,000
4,268
4,283
4,852
2008
2009
2010
CBD
2,000 0 year *2012 Downtown Population Estimate is a calculation of 2012 estimated number of units x average residents per unit (based on the 2010 U.S. Census).
About This Map Residential data reported in the 2012 State of Downtown Report is focused on the neighborhoods of the Central Business District (CBD), Over-the-Rhine (OTR) and Pendleton (PEN).
downtown cincinnati INC.
4
Over 90% of 1,700 survey respondents reported an overall positive impression of downtown in 2012, with key indicators of perceptions of downtown as safe and clean on the rise.
PERCEPTIONS ABOUT DOWNTOWN
2012 2011 2010
90%
Overall positive impression
80% 67% 87%
Improving every year
73% 72%
Police are visible
73% 67% 66%
Ambassadors are visible
61%
48% 46%
73% Safe overall
Downtown Perceptions
63% 58%
In 2012, Downtown Cincinnati Inc. adapted its perceptions survey for
78% Clean overall
downtown residents in zip codes 45201 or 45202 with new questions
70%
related to household composition, commuting, and shopping patterns.
60% 0
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Source: 2012 Perceptions Survey conducted by LaVerdad Marketing & Media for Downtown Cincinnati Inc. For more detailed findings, visit downtowncincinnati.com.
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Over 300 residents responded. Citing “convenience,” “walkability,” and “community” as the top three reasons for living downtown, 95% of respondents would recommend living downtown to others.
Safe, Clean and Green Downtown was kept clean and green spaces were maintained in 2012 thanks in part to the efforts of the City of Cincinnati’s Public Services Department, Cincinnati Parks, and Downtown Cincinnati Inc. ambassadors. Keep Cincinnati Beautiful awarded the Central Business District an average score of 1.0 on a litter index scale of 1 to 4, with 1 being the cleanest. While consistently under 1.2, 2012 marks the best score received by the CBD in the past five years. In advance of the 2012 World Choir Games, DCI ambassadors worked with the City of Cincinnati and Keep Cincinnati Beautiful to paint
The Police Cadet Program, initiated by Chief James E. Craig and supported by
128 light poles in the downtown area.
40 teenagers were deployed to deter crime and gain on-the-job experience, offering
The Downtown Residents Council engaged in several beautification projects
Downtown Cincinnati Inc., launched in June 2012. Through this new program, assistance to a school resource officer and learning about community policing in downtown Cincinnati.
in 2012, including painting fire hydrants
Crime in the Central Business District has been trending downward for the
in preparation for the 2012 World Choir
past ten years, with an overall reduction of over 34% in Part 1 and Part 2 crimes.
Games, planting flowers on the Purple
Part 1 crime decreased in 2012 by 10% and Part 2 crime decreased by over 8% from
People Bridge, and decorating Piatt Park
2011. There were 46% fewer burglaries, 18.4% fewer assaults and 10.8% fewer
for the holidays.
thefts than the previous year.
CBD CRIME STATISTICS 2,500
Part 1 Crime 2,000
1,500
1,179
1,000
Part 2 Crime 435
500
0 2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
year Source: Cincinnati Police Department. Note: Part 1 crimes are defined as more serious crimes, but include crimes such as shoplifting in which no use of force or violence occurs; Part 2 crimes are defined as “quality of life” crimes, which include aggresive panhandling and vandalism.
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Residential Units The Reserve at Fourth and Race held its grand opening in November. The $18 million dollar historic renovation brought 88 one and two-
TOTAL RESIDENTIAL UNITS
bedroom apartments to market at rents ranging from $925 to $2,950. At the time of opening, only six units remained available. 5,000
51 7
4,691
4,000
3,438
Apartment Survey - Central Business District* Total Number of Properties Surveyed Total Number of Units Surveyed Average Number of units/property Weighted Occupancy Average rent/unit Average rent/sq. ft.
16 2,445 153 96.3% $1,150.00 $1.25
Source: Apartment Realty Advisors semiannual survey of the multifamily investment market, reported August 2012. 12 of 16 surveyed properties shared occupancy information. *Central Business District includes five properties in NKY and Mt. Adams.
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number of units
4,633
88
3,000 3,350
2,000
2012 Under Construction Completed in 2012 Total Completed Units as of 2011*
1,000
653 653
0
PEN
OTR
CBD
neighborhood *Total Completed Units as of 2011= Total Completed Units (Available Units according to the 2010 U.S. Census) + 2011 Completed Units
Condominiums Sold Single Family Homes Sold
CBD RESIDENTIAL UNIT SALES 70
60
number sold
60 50
45
42
40
27
30
18
20 10
0
0
2008
Events 50 number sold
non-profit organizations. The event was the first of its kind to showcase the growing
2009
2010 year
2
2011
2012
55
60
with the generous help of sponsors Horseshoe Casino and 4EG, hosted Live It Up house tours, and booths with representatives from downtown small businesses and
0
1
OTR RESIDENTIAL UNIT SALES
On September 15th, the Downtown Residents Council and Downtown Cincinnati Inc., Downtown on Fountain Square. The celebration featured live entertainment, open
0
downtown residential community.
46 39
40
39
37
25
30 20
0
2008
10
7
4
10
2009
4
2010 year
2011
2012
PEN RESIDENTIAL UNIT SALES 7
6
number sold
6 5 4
5
5 4 3
3
3
3
2
1
1 0
3
0 2008
2009
2010 year
2011
2012
Source: Cincinnati Multiple Listing Service (MLS)
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8
Condominiums
Community
Single Family Home
CBD AVERAGE SELLING PRICES
average selling price
$350,000
$304,235
$297,669
$311,491 $257,535
$300,000 $250,000
$270,273
$185,000
$200,000
$128,500
$150,000 $100,000 $50,000 $0
$0
$0
2008
2009
$0 2010
2011
2012
year
OTR AVERAGE SELLING PRICES
In February, close to 200 revelers participated in the 7th Annual Balls Around the Block fundraiser, which raised over $6,300 to help
average selling price
$250,000 $200,000
$168,458
$150,000
$172,188
$168,145
$164,173
$167,638
$184,607
$157,885
$100,000
$105,925
$193,863
$103,500
$50,000 $0
resurface 18,000 square feet of the one-acre Fido Field. The off-leash
2008
dog recreation area, developed by downtown residents and funded
2009
2010 year
2011
2012
in part by a generous contribution from P&G, The Iams Company, is located at 630 Eggleston Avenue.
PEN AVERAGE SELLING PRICES
The second annual Breakfast with Santa and a Firefighter at the Cincinnati Fire Museum was hosted in partnership with Downtown Cincinnati Inc., Family Friendly Cincinnati, and Panera enjoyed a morning of food, crafts, storytime, and photos with Santa on a fire truck. Project Downtown Cincinnati, an interfaith effort led by the University of Cincinnati Muslim Students’ Association, prepared and handed out over 3,700 bagged lunches in 2012, with contributions from Panera Bread and individual donors.
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downtown cincinnati INC.
average selling price
Bread. At the event, 50 children, with their parents and grandparents,
$250,000
$239,00
$203,820 $185,817
$200,000 $150,000
$282,500
$272,477
$300,000
$165,047 $199,900
$147,067 $126,150
$100,000 $50,000
$0
$0 2008
2009
Source: Cincinnati Multiple Listing Service (MLS)
2010 year
2011
2012
work With more than $574 million in projects under construction and scheduled for completion by 2014, downtown continued exponential growth. Horseshoe Casino and dunnhumbyUSA were among the newly proposed arrivals and expansions in the CBD, while stalwarts, such as Procter & Gamble, which celebrated its 175th anniversary, continued to find success at home. Over 1,000 new jobs were added in 2012, strengthening downtown’s position as the economic heart of the region.
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Downtown Development
Completed
Investment Project Name Address Type ($M)
$75M
$344M
$866M
ACC=Access & Parking CEE=Cultural/Entertainment/Education MIX=Mixed Use* OFF=Office RES=Residential (Only) *Mixed Use refers to the properties that include more than one use, such as residential units or office space with ground floor retail.
Pre-Development/Proposed
$132M $29M
Under Construction
2012 CBD Development by Project Type
Completion/ Anticipated Completion
1 21c Museum Hotel
609 Walnut Street
CEE
$57.80
2012
2 City Home (Phase II)
Pleasant Street RES
$2.16
2012
3 Federal Reserve Building/The Reserve
Fourth and Race Streets
MIX
$16.50
2012
4 Igby’s
122 East Sixth Street
CEE
$4.80
2012
5 Moerlein Lager House
115 Joe Nuxhall Way
CEE
$10.00
2012
6 Paint Building
1400 Vine Street
MIX
$5.70
2012
CEE
$30.00
2012
8 Sky Lofts/The Edge
310 Culvert Street OFF
$10.00
2012
9 Washington Park (includes Garage)
Washington Park
CEE
$48.00
2012
10 Bakery Lofts
1421-1423 Race Street RES
$2.45
2013
11 Boca/Sotto
114 & 118 East Sixth Street
CEE
$9.80
2013
12 B-Side Apartments
1437 Republic and 13 West 15th RES
$4.50
2013
13 Cincinnati Streetcar
CBD/OTR ACC
7 Phyllis W. Smale Riverfront Park Phase 1 Riverfront
$106.00 N/A
14 E.W. Scripps Office Expansion
312 Walnut Street OFF
$1.00
2013
15 Horseshoe Casino
Broadway Commons
CEE
$400.00
2013
16 Hummel Building
1401 Elm Street
MIX
$1.70
2013
17 Hyatt Regency Hotel
151 West 5th
CEE
$17.00
2013
18 John Weld Peck Federal Building
550 Main Street OFF
$34.00
2013
19 KAO USA Office Expansion
312 Plum Street OFF
$15.00
2013
$62.00
2013
20 Mercer Commons Vine between 13th and 14th Streets
MIX
21 Park Haus
Scattered RES
22 Republic Street Lofts
1406 and 1412 Republic Street RES
N/A $2.00
2013 2013
23 Rothenberg Preparatory Academy East McMicken Avenue and Main Street
CEE
$16.90
2013
24 Westfalen II
1426-1438 Race Street
MIX
$8.60
2013
25 1401 Elm
1401 Elm Street
MIX
$1.70
2013
26 1606-1608 Walnut
1606-1608 Walnut Street RES
$1.40
2014
27 309 Vine
309 Vine Street OFF
$15.00
2014
28 617 Vine Street (Old Enquirer Building)
617 Vine Street
CEE
$27.32
2014
29 Abington Flats
33 Green Street RES
$3.80
2014
30 Anna Louise Inn/Cincinnati Union Bethel
300 Lytle Street RES
$12.40
2014
31 Cintrifuse
1311-1315 Vine Street
MIX
$13.60
2014
32 City of Cincinnati Parking Garage
Sycamore Street between 7th and 8th Streets MIX
$11.50
2012
33 dunnhumbyUSA Centre
Fifth and Race Streets
MIX
$122.00
2014
34 Holiday Inn Hotel
Broadway and Seventh Streets
CEE
$14.00
2012
35 Lytle Tunnel Renovation
Lytle Park and I-71 ACC
$25.50
2015
36 Music Hall Revitalization
1243 Elm Street
CEE
$95.00 N/A
37 Nicolay
14th and Republic Streets
MIX
$2.34
2013
38 Smale Riverfront Park (Phase 2-5) Riverfront
CEE
$90.00
2018
39 Tea Company Townhomes
MIX
$2.99
2014
40 The Banks (Hotel) Riverfront
CEE
$45.00
2015
41 The Banks (Phase 2) Riverfront
MIX
$67.00
2015
42 YMCA
MIX
$28.10
2014
18-20 West 13th, 1307 Republic
1105 Elm Street
Note: Includes projects with a disclosed investment amount of $1 million or more that are completed, under construction, or proposed as of year-end 2012.
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see map on next page >
Downtown Development
$185 million was invested in 2012, 29
with more than $574 million in projects under
23
construction and scheduled for completion by 2014.
26 2 10 12 37 6 16 25 24 22 39 31 20 36 21 9 42
13
15
34 32 28
1
11 4 18
33
8
17 19
3
30 27
14
35
41 40 5 38
7
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Class A - Cincinnati cBD Office Inventory
% Vacant YTD Absorption
Weighted Rate
2007 18.0% 153,957 $21.79 2008 16.7% 120,250 $21.61 2009 18.2% (125,860) $21.77 2010 19.0% (50,447) $21.89 2011 18.9% 262,765 $23.37 2012 22.1% (200,115) $21.69
Class B - Cincinnati cBD Office Inventory
% Vacant YTD Absorption
2007 2008 2009 2010 2011 2012
14.1% 56,487 $14.66 18.2% (146,618) $14.58 19.7% 35,557 $15.00 13.00% (29,545) $15.80 18.10% (320,757) $15.83 17.90% 16,923 $15.36
Weighted Rate
* Unless otherwise noted, all office statistics in this section were provided by Colliers International. 2012 data is from Q4 Cincinnati Office Report. **2010-2011 amounts differ from previously reported data due to historical adjustments.
The Cincinnati City Planning Commission approved a development agreement with Cincinnati Center City Development Corp. (3CDC) on a four-parcel project at Fifth and Race Streets, to include space for commercial development and parking. The complex will become the new headquarters of dunnhumbyUSA. The market research firm expects to grow from 450 employees to 1,200 employees by 2018, outgrowing its current headquarters in The Offices at 444 West Third Street. Developer Rock Gaming exceeded its goal for 20% minority inclusion, and awarded more than 37.3% of a total $147 million in Horseshoe Casino construction contracts to minority and women-owned businesses.
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Major 2012 lease Transactions: Cincinnati CBD Company
The CBD is home to seven Fortune 500 companies: • The Kroger Company (No. 23) • Procter & Gamble (No. 28) • Macy’s (No. 109) • Fifth Third Bancorp (No. 361) • Omnicare (No. 416) • Western & Southern Financial Group (No. 471) • American Financial Group (No. 485)
Location Sq. Ft. Type
KAO USA Inc. 312 Plum Street URS 525 Vine Street Trivantis Corp 311 Elm Building Cadre Computer PNC Center Calfee Halter & Griswold First Financial Center Acosta Sales & Marketing, Inc. 1009 Race Street Daymon Worldwide 125 E Court Street Fund Evaluation Group PNC Center DuCharme, McMillen and Associates 312 Elm Street USB Ascent Group US Bank Tower TOTAL
54,907 New 20,551 Relocation (L) 18,618 Renewal 10,823 Relocation (L) 8,982 New 8,400 New 7,938 New 7,783 Renewal 7,011 New 6,660 Renewal 151,673
Source: Xceligent, Inc. Please note: Listed are the top ten leases signed in 2012, according to square feet. Start dates of occupancy vary. (L) Local
2012 Cincinnati cBD Office
Class A Class B Class C TOTAL
Inventory of Rentable Sq. Ft. Vacancy Rate
8,815,068 6,271,749 2,960,469 18,047,286
Average Rental Rate
2012 Net Absorption
22.1% $21.69 (200,115) 17.9% $15.36 16,923 6.7% $13.30 37,793 18.1% $19.24 (145,399)
2012 Regional Office
Beauty care manufacturer KAO USA Inc. moved its headquarters from Spring Grove Avenue to the 312 Plum Building. KAO relocated to 55,000 square feet of space on the 10th, 11th, and a portion of the 9th floors of the building.
Inventory of Rentable Sq. Ft. Vacancy Rate
Blue Ash 4,598,290 CBD 18,047,286 CBD - Periphery 3,495,606 East 2,556,179 I-71 Corridor North (of I-275) 4,464,807 I-75 Corridor North (of I-275) 2,271,896 Kenwood/Montgomery 2,070,071 Midtown 3,317,554 Northern KY 7,366,882 Tri-County 4,824,584 West 752,742 TOTAL REGIONAL 53,765,897
Average Rental Rate
2012 Net Absorption
16.4% $17.80 18.1% $19.24 26.1% $17.14 19.5% $15.69 20.3% $18.97 8.2% $19.94 10.2% $21.51 18.7% $18.08 24.3% $18.45 30.2% $15.44 22.0% $17.29 20.0% $18.13
24,003 (145,399) 2,026 (56,245) 127,318 53,029 53,135 (157,159) (405,595) (163,411) 16,445 (651,835)
* Unless otherwise noted, all office statistics in this section were provided by Colliers International. 2012 data is from Q4 Cincinnati Office Report. **2010-2011 amounts differ from previously reported data due to historical adjustments.
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The City of Cincinnati partnered with Over-the-Rhine-based SoMoLend, a crowd-sourcing web-based platform connecting entrepreneurs with investors, to boost economic development and job creation by lending up to $400,000 to qualified SoMoLend businesses. In 2012, ArtWorks’ SpringBoard program graduated its 100th creative entrepreneur. Since its launch in June 2011, SpringBoard graduates started 19 new area businesses or nonprofits, including retail shops, restaurants, video production companies, artist cooperatives, creative
2012 U.S. Rental Rates: CBD Class A
2012 U.S. Vacancy: CBD Class A & B
Chicago $37.36 Los Angeles $36.12 Denver $30.00 Portland $24.89 Dallas $23.68 Detroit $22.80 Cincinnati $21.69 Cleveland $21.33 Nashville $20.50 Indianapolis $19.03 Kansas City $18.90 Atlanta $18.87 New York City (Downtown Manhattan) $18.75 Columbus $18.52 Memphis $18.26 St. Louis $17.73 Boston $13.92 Washington DC $11.90 Houston $10.69 Philadelphia $10.59 Raleigh/Durham $8.74
Dallas 27.6% Detroit 20.9% Cleveland 19.1% Los Angeles 19.0% Cincinnati 18.1% Atlanta 16.9% St. Louis 16.7% New York City (Downtown Manhattan) 15.4% Memphis 14.7% Kansas City 14.4% Houston 13.7% Nashville 13.5% Indianapolis 13.3% Chicago 13.2% Boston 13.1% Denver 12.3% Columbus 11.9% Philadelphia 10.8% Washington DC 10.5% Portland 9.9% Raleigh/Durham 6.1%
Source: Colliers International Q4 2012 North America Highlights
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nonprofits, and design boutiques, such as VisuaLingual.
CINCINNATI CBD OFFICE RENTAL RATES
CBD Class A CBD Class B CBD Class C Average Regional Rental All Classes Average CBD All Classes $25 $20 $15
$13.30
$15.36
$21.69
$11.84
$15.83
$23.37
$11.72
$15.80
$21.90
$11.74
$15.00
$21.77
$11.72
$5
$15.93
$23.20
$10
0 2008
2009
2010
2011
2012
year Source: Colliers International Q4 2012 North America Highlights
U.S. AND CINCINNATI OFFICE VACANCY RATES
Cincinnati CBD U.S. CBD Cincinnati Sub U.S. Suburban 25% 20% 15%
its sign on the east and south sides of its new corporate headquarters.
15.3%
21.0%
13.3%
18.1%
15.6%
20.7%
13.7%
19.0%
16.7%
24.3%
0% 2008
2009
The 31-story First Financial Center, formerly known as the Chemed Center, is located at 255 Fifth Street.
14.8%
21.9%
17.4%
23.3%
14.5%
19.4%
15.4%
21.8%
First Financial Bank added its name to the Queen City skyline, installing
14.7%
5%
17.7%
10%
2010 year
2011
2012
Source: Colliers International Q4 2012 North America Highlights
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According to the City of Cincinnati Department of Economic Development, 1,091 new jobs were created downtown in 2012. The new 21C Museum Hotel made available 160 positions, dunnhumbyUSA grew by 550, KAO USA added 161 jobs with the announcement of its new downtown location, E.W. Scripps Company expanded its space to accommodate 125 new employees, and Mahogany’s at the Banks hired a staff of 54 workers. Horseshoe Casino was on its way to filling 1,700 positions in 2012, a hiring push which continued through spring 2013.
Cincinnati Downtown Workers
CBD 56,224 CBD, OTR and PEN 61,308
Cincinnati CBD Workers Distance from Home
Procter & Gamble celebrated its 175th anniversary in 2012. Its first office in downtown Cincinnati was established in 1837 on the corner of Sixth and Main Streets.
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Less than 10 miles 10 to 24 miles 25 to 50 miles Greater than 50 miles Total Workers with Primary Jobs in the CBD
26,741 18,411 3,629 7,443 56,224
48% 33% 7% 13% 100%
Note: Employment numbers fluctuate from year to year. Employment data available at time of publication of this report is about 18 months in arrears. Totals reflect only those workers with primary jobs, in the defined area. Workers may or may not be physically present downtown on a daily basis. For instance, approximately 13% of workers reported home zip codes more than 50 miles from downtown and therefore may represent telecommuters. Source: OntheMap, an application from the U.S. Census Bureau Longitudinal Employer-Household Dynamics (LEHD) program, in partnership with state labor market information agencies.
play In 2012, Cincinnati played host to singers from over 60 countries for the 2012 World Choir Games, attracting thousands of visitors, both local and international. Fifty-nine new businesses opened downtown, providing abundant new options for eating, drinking, shopping and fun. The opening of two new state-of-the-art parks elevated the beauty of downtown,and visitors had a chance to view it all from the vantage point of the Pedal Wagon – Cincinnati’s most unique do-it-yourself tour vehicle.
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Hotels The 21C Museum Hotel, a 156-room boutique hotel, opened on November 26, 2012 at the former site of the Metropole Hotel, next to the Contemporary Arts Center. The hotel features 8,000 square feet
Conventions
of museum exhibition, meeting and event space, a spa, rooftop bar,
In 2012, Cincinnati became the first U.S. city to host The World Choir
and the Metropole restaurant.
Games. The event drew 15,000 participants in 364 choirs from over 60 countries. Multiple venues across downtown Cincinnati and beyond were showcased, and thousands of visitors kept nearby hotels and businesses busy from July 4 to July 14.
KEY Conventions BOOKED in 2012 Group Event Dates
Room Nights
Educational I Testing Service 2015 21,015 Educational II Testing Service 2016 21,015 Prince Hall Shriners 2015 15,373 National Baptist USA 2017 12,021 National Association of Pastoral Musicians 2017 6,963 Cincy Flames I 2013 4,600 Nature’s Sunshine Products, Inc. 2014 4,143 Cincy Flames II 2013 4,000 Cincy Flames III 2013 3,960 Cincy Flames IV 2013 3,675
Top 10 Conventions Hosted in 2012 (by Total Hotel Room Nights)
Group Room Nights Estimated Direct Attendee Spending (in millions)
2012 World Choir Games* Educational Testing Service NeighborWorks America American Society of Agronomy V-Twin Expo Children’s Defense Fund Adventist-Laymens Services & Industries AAU Boy’s Basketball Academy of Managed Care Pharmacy USA Gymnastics TOTAL
26,610 $7.90 19,472 $5.80 6,913 $2.10 6,785 $2.00 6,244 $1.90 6,079 $1.80 5,096 $1.50 4,235 $1.30 4,102 $1.20 3,691 $1.10 89,227 $26.60
*In 2010, the Economics Center at the University of Cincinnati estimated the total economic impact of the 2012 World Choir Games to be $73.5 million, which represents all direct and indirect spending related to the event. The economic impact figure above represents estimated direct spending from event participants only (choirs).
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Year-End Hotel Comparison
Downtown Gr. Cincinnati Cincinnati USA (OH-KY-IN) National
Avg. Occupancy 2011 2012
Avg. Rate/Night 2011 2012
RevPAR* 2011 2012
62.9% 61.3% $122.56 $126.15 55.5% 55.5% $86.39 $90.04
$77.04 $77.37 $47.92 $50.32
55.6% 56.2%
$84.71 $86.78
$47.11 $48.76
60.1% 61.4% $101.64 $106.10
$61.06 $65.17
*RevPAR: Revenue per available room
Downtown Hotels Hotel
Millennium Hotel Cincinnati Hilton Cincinnati Netherland Plaza Hyatt Regency Cincinnati Westin Hotel Cincinnati 21C Museum Hotel Garfield Suites Hotel The Cincinnatian Hotel The Residence Inn at Marriott Hotel The Symphony Hotel Source: Hotel and convention data provided by Cincinnati USA Convention & Visitors Bureau.
Rooms
872 561 486 456 156 152 146 134 6
2009
$59
2008 $0
$10
$20
$30
$40
$50
$60
200
150,000
150
100,000
100
0
$70
2008
2009
2010
2011
2012
Greater Cincinnati
50 0
year
millions of dollars
Downtown
195
200,000
50,000
$56
141
meetings booked
$60
138
$205,715
2010
130
$205,586
$61
141
$200,317
2011
250
250,000
$198,219
$61
Meetings Booked
$187,887
2012
TOTAL CVB ROOM NIGHTS & MEETINGS BOOKED
Total Room Nights
room/nights
year
ECONOMIC IMPACT OF TOTAL CVB ROOM/NIGHTS BOOKED
HOTEL OCCUPANCY RATES
DOWNTOWN HOTEL PERFORMANCE
Average Room Rate/Night RevPAR
Cincinnati USA (OH-KY-IN) National+ 70%
$130
$77.37
$73.41
$65
$117.98
$122.56
$126.15
2008
2009
2010
2011
2012
2008
2009
2010 year
2011
2012
$55 $50
$100
0%
$60
RevPAR
$70
$66.25 $115.32
$110
$80 $75
$115
$105
10%
$77.04 $73.89
$124.14
20%
rate/night
30%
61% 56% 56% 61%
$120
63% 56% 56% 60%
40%
62% 53% 52% 58%
$125
57% 52% 51% 55%
50%
60% 55% 55% 60%
occupancy rate
60%
year
PriceWaterhouseCoopers Hospitality Directions Report. January, 2013
+
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Retail CBD Retail Real Estate
Occupancy Rate* Sales per SF**
2012
96.2%
Avg Rents per SF*
$87.49
$13.74
Source: * CBRE Internal Database / ** Costar Comps Database
Downtown Retail Availability
Base SF
2012 2011 2010 2009 2008
Available SF
% Available
2,984,603 112,847 3.8% 3,011,603 136,269 4.52% 2,988,441 137,529 4.60% 2,403,000 278,923 11.61% 2,403,035 208,338 8.67%
Source: CBRE
DOWNTOWN RETAIL MIX
Shopping 28% DINING 49% SERVICES 23%
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downtown cincinnati INC.
DINING
SERVICES
SHOPPING
Bars/Nightclubs 34 Coffee/Bakeries/Ice Cream 24 Lunch Restaurants 79 Fast Casual Dining 19 Full Fare Restaurants 49 Private Membership Clubs 2 Banquet Rooms 6 Total 213
Beauty 27 Fitness/Health 14 Eyewear 5 Auto/Bike/Home Repair 6 Car/Bike Rentals 9 City Tours 6 Florists/Wedding 4 Funerial 1 Libraries 3 Pets 2 Printing 3 Tickets/Travel 4 Wireless/Electronics 7 Cleaners/Tailors/Shoe Repair 6 Total 97
Antiques/Auction Houses 3 Apparel/Shoes/Accessories 27 Beer/Wine/Liquor 4 Department Stores/Malls 4 Galleries 7 Gifts/Books/Novelty 29 Home Furnishings/Art 12 Jewelry/Furs 11 Food/Convenience Markets 18 Pharmacies/Newsstands 6 Total 121
2012 New Downtown Establishments
The Four Entertainment Group (4EG) debuted its tenth bar in ten years in December — the new Igby’s on Sixth Street, between Main and Walnut Streets. With a completely renovated interior, Igby’s boasts three stories of entertainment with a balcony overlooking Restaurant Row. Igby’s offers a seasonal menu of small bites and shareable plates, vintage cocktails, a 16-tap draft lineup featuring seasonally rotating local, import and craft beers, and a distinctive wine selection.
Tiffany & Co. celebrated 175 years in 2012. The downtown Cincinnati store at Fifth and Vine Streets opened
Name
Address
Name
Address
1215 Wine Bar & Coffee Lab American Legacy Tours Aunt Flora’s Cobbleria Bakersfield Burnell’s Charmz Fashion & Nail Boutique Cincinnati Bike Center Cincy by the Slice Coffee Emporium Collective Espresso Core Cincinnati Crave Currito Diamond Palace Nightclub Dollar Depot Dunkin’ Donuts Dynasty Everything’s d’Vine Fastsigns freshii Grecos Grunn Funeral Home Hello Honey Hertz Igby’s Kaze Leftcoast Modern Cincinnati Le’s Pho Local’s Bar & Grill Mahogany’s
1215 Vine Street 1214-20 Vine Street 213 West Fourth Street 1213 Vine Street 915 Vine Street 1109 Vine Street 120 East Mehring Way 1207 Main Street 301 East Fourth Street 207 Woodward Street 1423 Vine Street 175 Joe Nuxhall Way 121 East Fifth Street 435 Elm Street 927 Vine Street 425 Walnut Street 709 Main Street 320 West Fourth Street 120 West Seventh Street 425 Walnut Street 700 West Pete Rose Way 825 Main Street 633 Vine Street 601 Elm Street 122 East Sixth Street 1400 Vine Street 323 West Fourth Street 3 East Court Street 19 East Seventh Street 180 East Freedom Way
Main City Station Metropole Moerlein Lager House On the Run Cleaners Orange Leaf Panera Bread Pedal Wagon Quan Hapa Queen City Wine & Spirits Reser Bicycle Outfitters Ruth’s Chris Steak House S & J Cafe at the Main Library Silver Ladle Simply Grand Steam Whistle Letterpress & Design Streetpops Substance for Fashion Conscious People The Anchor The Spotted Magpie Tin Roof Toby Keith’s I Love This Bar & Grill Tom + Chee Tot Dogs Uncle Mo’s Cafe WG Kitchen & Bar What’s in the Skillet? Whisky Bar World 5.0 Healing Our Life Together Bookstore Zipcar TOTAL
1420 Main Street 609 Walnut Street 115 Joe Nuxhall Way 1331-35 Vine Street 160 Walnut Street 1 East Sixth Street 407 Vine Street 1335 Vine Street 113 East Fifth Street 1419 Vine Street 100 East Freedom Way 800 Vine Street 580 Walnut Street 301 East Fourth Street 1342 Main Street 1437 Main Street 1435 Main Street 1401 Race Street 1420 Main Street 160 East Freedom Way 145 Second Street 420 Walnut Street 634 Vine Street 203 East Seventh Street 161 East Freedom Way 211 West Fourth Street 537 East Pete Rose Way 619 Main Street Multiple locations 59 Opened
in 1997. downtown cincinnati INC.
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Arts & Culture Cincinnati Opera exceeded its 2012 income goal by 6%, with a season that included its first-ever production of the Gershwins’ Porgy and Bess in June and July 2012. Porgy and Bess surpassed both its income and attendance goals, and set a record with the third-highest attendance of an opera production in Music Hall, just behind Carmen (2004) and Aida (2007). Greater Cincinnati’s first 15-person, pedal-powered party on wheels launched in Covington, Newport and Cincinnati in 2012. The Pedal Wagon can accommodate six pedalers on each side, three riders on the rear bench, and the driver. The participants provide the power, supplemented by an electric motor for hills and weary pedalers. Partnering with American Legacy Tours, the wagon was seen throughout downtown on history tours, pub crawls and public events in 2012.
FotoFocus, a nonprofit arts organization, launched its first biennial month-long regional celebration of historical and contemporary photography and lensbased art, in October 2012. ArtWorks artists designed photo booths that were positioned on Fountain Square. Participating downtown venues and partners included the Contemporary Arts Center, the Weston Art Gallery, the Mercantile Library, the Architectural Foundation of Cincinnati, the Art Academy of Cincinnati, 21c Museum Hotel, the Carl Solway Gallery, and the gallery at the Emery Theatre.
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Smale Riverfront Park held its grand opening on May 18, 2012. The completed first phase encompasses the area along Mehring Way between the Roebling Suspension Bridge and Great American Ball Park. Features include the Moerlein Lager House, the new Bike, Mobility, and Visitors Center, the Jacob G. Schmidlapp Stage and Event Lawn, the Black Brigade Monument, a labyrinth, the Walnut Street fountains & steps, and multiple water displays. The Cincideutsch Christkindlmarkt, the first-ever, authentic German Christmas market on Fountain Square, added to the downtown holiday traditions in 2012. On November 23, 24, and 25, visitors found market booths selling sweets, mulled wine (Glühwein) and other warm drinks, beer, and seasonal gift items for the holidays. The market complemented Macy’s Light Up the Square and Macy’s Downtown Dazzle events, which feature the popular ice rink, rapelling Santa and the annual lighting of the Christmas tree on Fountain Square.
Use of the Main Library of the Public Library of Cincinnati & Hamilton County increased dramatically in 2012. Nearly 6.6 million books and other materials were borrowed, up 10% over 2011. There were more than 1.3 million visits last year, an increase of more than 26,000 from the previous year. Attendance at free programs exceeded 56,000 (an increase of nearly 12% over 2011) and the number of computer sessions grew by nearly 19% from the prior year.
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Arts and Culture Attendance
Theaters Organization
2007-2008 2008-2009 2009-2010 2010-2011 2011-2012
Children’s Theatre of Cincinnati 105,230 97,654 80,000 86,000 86,400 Cincinnati Arts Association* 239,203 205,000 172,164 225,000 236,683 Cincinnati Ballet 40,739 45,516 54,576 53,676 54,955 Cincinnati May Festival** 15,663 14,563 11,123 11,325 43,029 Cincinnati Opera 25,072 25,907 21,410 22,675 22,534 Cincinnati Playhouse in the Park 207,614 188,336 188,327 194,512 181,002 Cincinnati Shakespeare Company 16,069 16,765 17,800 22,681 20,410 Cincinnati Symphony Orchestra/ 229,368 192,000 190,875 185,255 232,010 Cincinnati POPS Ensemble Theatre Cincinnati 24,145 30,270 30,020 27,539 33,038 Fifth Third Bank Broadway 296,157 212,800 194,698 144,935 245,311 Across America – Cincinnati Know Theatre of Cincinnati 5,154 5,615 5,808 3,523 9,490 School for Creative & Performing Arts 10,324 8,699 10,200 14,150 13,250 Showboat Majestic 17,905 15,127 14,886 15,331 15,226 Taft Theatre N/A N/A N/A 130,000 176,000 Total 1,232,643 1,058,252 991,887 1,136,602 1,369,338 *Does not include Cincinnati Symphony Orchestra/Cincinnati Pops, Cincinnati Ballet, Cincinnati Opera, Cincinnati May Festival or Broadway in Cincinnati. **Cincinnati May Festival 2012 includes The World Choir Games Opening and Closing Ceremonies, and the Washington Park Concert.
The Cincinnati Ballet hit a new revenue record for overall ticket sales in the 2011-2012 Season at $2.23 million. The average ticket price increased from $45.45 in the 2010-2011 Season to $50.57 in the 2011-2012 Season. In 2011, Cincinnati Ballet presented the world premier Frisch’s Presents The New Nutcracker. This led to record Nutcracker ticket sales for the Cincinnati Ballet Box Office at $1.21 million, a 49% increase over the 2010 Nutcracker. Nutcracker attendance grew by 41% from 2010.
Cultural Attractions Organization
2008 2009 2010 2011 2012
Cincinnati Art Museum 245,247 228,745 203,212 272,352 295,661 Fire Museum of Greater Cincinnati 9,041 8,990 8,998 9,632 7,746 Cincinnati Museum Center 1,310,000 1,484,607 1,308,658 1,572,554 1,302,542 Contemporary Arts Center 54,364 44,167 57,848 55,388 45,586 National Underground Railroad Freedom Center 138,016 113,873 113,213 109,500 115,000 Taft Museum of Art 59,139 54,263 52,625 56,107 57,237 The Betts House 969 1,363 1,234 1,390 1,430 Krohn Conservatory 273,903 294,890 336,572 283,169 250,000 Main Library/Public Library of 1,344,302 1,408,323 1,363,971 1,419,754 1,320,208 Cincinnati & Hamilton County Washington Park* N/A N/A N/A N/A 500,000 Mercantile Library 4,411 3,591 5,517 4,288 3,443 Total 3,439,392 3,642,812 3,451,848 3,784,134 3,898,853 *Re-opened in 2012 after a $48 million renovation.
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Bunbury Music Festival launched in July 2012 and featured 100 live alternative music performances on six stages over three days, throughout Sawyer Point and Yeatman’s Cove. In all, the festival drew over 50,000 guests, 40% of whom travelled to the festival from outside the Greater Cincinnati area.
Arts and Culture Attendance (continued) Sports and Recreation Venues Organization
2008 2009 2010 2011 2012
Cincinnati Bengals* 645,583 684,557 589,897 475,541 727,518 Cincinnati Reds 2,058,632 1,747,919 2,060,550 2,213,498 2,347,251 Findlay Market 612,230 760,421 802,862 881,409 938,431 Riverfront Events/Cincinnati Park Board* 545,255 527,087 739,911 900,000 886,537 Riverfront Daily Park Users** 50,000 175,000 175,000 200,000 1,063,844 US Bank Arena 564,909 524,792 539,397 516,970 505,400 Total 4,576,609 4,419,776 4,907,617 5,187,418 6,468,981
Washington Park reopened to the public on July 6, 2012 following a $48 million makeover. The green space was expanded from six to eight acres with a new civic lawn and performance stage, a dog park, interactive water fountains, refreshed public restrooms, a concession building, and a children’s area featuring a play castle, sandbox and oversized musical instruments. A 450-car parking garage was installed beneath the park, adding convenience for visitors to Music Hall, Washington Park and nearby restaurants and homes. Paul Brown Stadium played host for the 8th year in a row to the annual Macy’s Music Festival, which celebrated its 50th anniversary in 2012. The Cincinnati Bengals brought training camp home to Paul Brown Stadium for the first time in club history. 27,405 fans took the opportunity to watch the team downtown on 17 different days. The Bengals sold out six of their eight regular-season home games, with an average of 61,188 fans attending per game, representing a 24% increase from last season.
*Events included but not limited to philanthropic walks, music festivals and cultural festivals not otherwise listed. **The significant jump in Riverfront Park Users is due to the inclusion of Theodore M. Berry Friendship Park and Smale Riverfront Park (newly opened in 2012).
Festivals Organization
2008 2009 2010 2011 2012
Black Family Reunion 75,000 50,000 42,000 47,000 20,000 Cincinnati Brew Ha-Ha 8,000 13,000 15,000 17,500 14,000 Macy’s Art Sampler (hosted by Artswave)* 13,794 14,260 14,000 9,579 7,882 Cincinnati Fringe Festival 6,610 7,541 6,734 7,500 7,768 MidPoint Music Festival 13,000 15,000 20,000 22,800 23,000 Oktoberfest Zinzinnati 500,000 500,000 500,000 500,000 500,000 Riverfest 250,000 250,000 250,000 250,000 250,000 Bluesfest 11,000 11,000 15,000 16,500 20,000 Bunbury Music Festival** N/A N/A N/A N/A 50,000 Taste of Cincinnati 500,000 500,000 500,000 500,000 500,000 Total 1,377,404 1,360,801 1,362,734 1,370,879 1,392,650 *Only includes downtown venues/events. **Bunbury Music Festival launched in 2012. Over the Rhine Neighborhood Festivals 2010-2011 2011-2012
Second Sundays on Main 7,000 10,000 Go OTR 5K Summer Celebration 1,000 1,300 Bockfest 8,000 10,000 TOTAL 16,000 21,300 Fountain Square Events 2010–2011
2011–2012
PNC Summer Music Series 148,000 148,000 U.S. Bank Ice Rink 50,000 50,000 Macy’s Light Up the Square 25,000 25,000 Toyota’s New Year’s Eve 15,000 15,000 Macy’s Downtown Dazzle 15,000 20,000 TOTAL* 253,000 258,000 *Including these series, there were over 500 events on Fountain Square in July 2011 - June 2012. In all, over 2 million people were estimated to be in attendance throughout the year.
destination:
downtown Expanded options for getting to and around downtown in 2012 enhanced convenience and speed of travel for locals and visitors alike. Cincinnati was recognized as bike-friendly, Metro worked to improve the public transportation experience for riders, and a new car share service made it easy to make quick trips in a leased car. Communities south and north of the river worked together to provide improved taxi service for international guests of the 2012 World Choir Games.
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downtown cincinnati INC.
taxi shot
CINCINNATI CBD MONTHLY PARKING AND PRICES
Available Spaces CBD Average Price
40,000
The Federal Highway Administration announced a $3.3 million grant to cover land
parking spaces
35,000
Travel By Car acquisition for the $2.5 billion Brent Spence Bridge project. A $4 million study was proposed to consider cost-saving measures and to establish a bi-state management team to oversee the job, which could begin as soon as 2014.
31,710
31,618
$160 $140
30,203
30,000
$120
25,000
$100
20,000 15,000
$80
$83
$67
$64
$62
$74
$60
10,000
$40
5,000
$20
0
ZipCar, a member-based car sharing service that allows people to use cars by the
36,917
36,473
2008
2009
2010 year
2011
average price
Reserved Spaces
$0
2012
Note: Reflects average price and availability for monthly contract parking in the Central Business District only.
hour or day, debuted in downtown Cincinnati with six cars available and parked in designated spaces throughout downtown.
CBD DAILY PARKING RATES
National Cincinnati
National Monthly and Daily Parking Survey: Unreserved Parking Rates
*National Average is an average of all surveyed cities. This list is a sampling of surveyed cities. Survey only includes covered and underground parking garages located in the CBD. Source: Colliers International. **Percent adjusted following release of survey.
$10.00
$17.19
$10.00
$16.12
$9.75
$16.36
$9.50
$5.00
$15.96
$10.00
$0.00 2008
2009
2010 year
2011
2012
CBD MONTHLY PARKING RATES (MEDIAN)
National Cincinnati $200.00
$0.00 2008
2009
2010 year
2011
$125.40
$166.26
$160.00
$155.22
$150.00
$50.00
$161.56
$100.00
$127.50
$150.00
$154.23
$95.00 -13.6% $87.00 2.4% $180.00 2.9% $160.00 4.6% $115.00 15.0% $220.93 5.5% $533.00 0.0% $313.25 3.2% $105.00 5.0% $145.00 -6.5% $175.00 2.9% $375.00 0.0% $270.00 3.8% $166.26 1.3%
$10.00 0.0% $10.00 0.0% $10.50 2.4% $16.00 0.0% $15.00 3.4% $13.00 8.3% $28.88 -3.7% $26.00 -13.3% $25.50 -1.9% $10.00 0.0% $15.00 0.0% $26.00 0.0% $29.00 11.5% $19.00 5.6% $17.19 2.9%
$15.00
$9.50
Columbus Dallas Denver Houston Indianapolis Los Angeles New York Philadelphia Raleigh Sacramento San Diego San Francisco Washington, DC National Average*
$12.00 0.0% $33.50 -1.5% $35.00 9.4%
$125.00
$95.00 0.0% $405.00 -7.5% $289.00 0.0% $125.40 -21.6%**
$20.00
Daily % Change from 2011
$15.42
Atlanta Boston Chicago Cincinnati
Median
$153.79
Monthly % Change from 2011
rate
Median
rate
Market
2012
Source: Colliers International
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Alternate Transit
The League of American Bicyclists named the City of Cincinnati a Bicycle Friendly Community in 2012. This first-time, bronzelevel award recognizes improvements made in the city’s bicycle infrastructure and advocacy. The League cited improvements such as the addition of shared-line markings and bike lanes throughout the city, the installation of more than 100 bicycle racks in neighborhood business districts; the addition of “corral”-style bicycle parking; bicycle-specific pavement markings at priority intersections, showing riders where to position themselves to trigger the green light; improved signage for motorists reminding
Metro upgraded its bus fleet, introduced new fare options, added real-time information at Government Square, and improved its website and communication with customers. With a renewed focus on improving the customer experience, ridership on Cincinnati Metro buses increased 4.2 percent compared to 2011, more than the 2.6 percent average increase for public transportation systems reported by the American Public Transportation Association.
them to “Share the Road”; and the construction of the Cincinnati
City officials in Cincinnati, Covington and Newport, led by City of Cincinnati
Bike, Mobility, and Visitors Center at Smale Riverfront Park.
Councilman Wendell Young, signed a special agreement to make travel by taxi easier for visitors during the 2012 World Choir Games. Taxi drivers licensed in any of the three cities were permitted to pick up passengers throughout the area, regardless of where they held their licenses, by displaying a special event placard. To participate, more than 200 drivers
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attended a free hospitality course offered prior to the 2012 World Choir Games. downtown cincinnati INC.
on the
horizon
Downtown is poised to continue its impressive transformation in coming years, as parking lots and vacant office buildings are developed to become home to the U.S. headquarters for a world-class market research firm, trendy new restaurants, hotels, apartments, exciting retail options, and more residential units to meet the growing demand for living downtown.
580 Building – Anderson Birkla is planning to invest $40 million in the Sixth and Walnut building, adding about 176 apartments to redevelop the property into a mix of residential, office and entertainment space. (2014)
New Hotels at Former Enquirer Building– Developer SREE Hotels has begun construction of a 105-suite extended-stay Homewood Suites and a limited-service 144-room Hampton Inn at the 14-story building at 617 Vine Street. (2014)
Apartment Tower above the Seventh and Broadway Garage – NorthPointe Group and North American Properties are proposing a new $20 million, 110-unit apartment tower with rents ranging from $1,200 to $2,200 per month. (Late 2014)
Smale Riverfront Park Phases 2-5 – New additions to the 45-acre riverfront park to include the PNC Adventure Playground, Vine Street Fountain and Steps, the P&G Go Vibrant Playscape, the Cincinnati Carousel, and a boat dock. Once completed, the park is expected to attract approximately 1.1 million visitors annually. (Phase 4 to be completed 2015)
Boca and Sotto – Development of the historic Maisonette and LaNormandie restaurants into the new home of the relocated Boca and new Sotto, an Italian trattoria-style eatery. (2013) Brent Spence Bridge – $2.5 billion project to rebuild the 49-year-old Brent Spence Bridge between Cincinnati, Ohio and Covington, Kentucky on Interstates 71/75. The bridge, which carries an estimated 4% of the national gross domestic product, is considered overcrowded with narrow lanes, a lack of emergency shoulders and limited visibility on the lower deck. (Proposed start date—2014) dunnhumbyUSA Centre – New construction led by 3CDC at Fifth and Race Streets to include five floors of office space, room for commercial development, and a parking garage for 1,000 cars. (Late 2014)
The Banks Phase 2 and Hotel – New construction to create an additional 300 apartment units, more than 60,000 square feet of street-level retail, a hotel and more than 400 parking spaces at the block southeast of Race and Second Streets. (2015) Tower Place Mall/ Pogues Garage – City of Cincinnati project to replace Pogues Garage with a 30-story mixed-use tower with 300 luxury apartments, 1,000 parking spaces, and a 15,000-square-foot grocery store. Plans call for Tower Place Mall to be converted into a 500-space parking garage, with 20,000 square feet of street-level commercial spaces fronting onto Race and Fourth Streets. (To begin Fall 2013)
Major League Baseball’s All-Star Game – The first All-Star Game in Cincinnati since 1988 and the first held at Great American Ball Park, built in 2003. (2015)
downtown cincinnati INC.
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live. work. play.
35 East Seventh Street, Suite 202, Cincinnati, OH 45202, 513.421.4440, www.downtowncincinnati.com