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Business Development News

Does casino fit for prominent Broadway Commons site?

It was announced last week that there is yet another movement to legalize casino gaming in Ohio. The difference with this proposal is its scope. Instead of a single casino for the entire state, casinos would instead be placed in each of the state’s largest cities (Cincinnati, Cleveland, Columbus and Toledo).

The intent is to reach a larger market and have broader voter appeal come November. In Cincinnati the proposal has already picked up some high-profile support in Mayor Mark Mallory, City Councilman Jeff Berding and former Mayor Charlie Luken.

The site for the proposed casino is the pipe-dream location that is Broadway Commons (GoogleMap). The site is located in the Pendleton sub-neighborhood of historic Over-the-Rhine. Its close proximity to Downtown, the convention center, several museums, gobs of hotel rooms and major tourism draws like the Reds and Bengals have long made the site a prime spot for redevelopment speculation (streetcar connectivity).

The question is what is right for such a prime location? Seems like a pretty subjective question, and it is. In the 90’s many people (including myself) thought the site would have been a perfect location for the new Reds ballpark. Other ideas have ranged from urban big-box stores, a mega park, rail transit hub and of course the mixed use urban infill that we would all love to see.

Plans for the once proposed ballpark at Broadway Commons

The problem of course has been market reality. With a slew of new condos and apartments constantly coming on the market in Downtown, Over-the-Rhine, Newport, Covington and the Westend – can we really absorb more residential units, hotels, office and retail space, if so at what cost? Does it jeopardize the future success in OTR, Downtown and The Banks? Will Cincinnati ever push the rail transit agenda and make light rail, streetcars and high-speed rail reality here, if so can we afford to wait that long to redevelop this major site sitting unproductive?

The owners (Chavez Properties), of Broadway Commons, seem to be ready and willing to sell and they are on board with this casino plan. A casino would turn the giant surface lot into a tax productive use, create hundreds of permanent jobs, significantly boost tax revenues for Cincinnati and Hamilton County and potentially create some spinoff investment in the surrounding community.

At the same time the casino would seemingly prey on those with less, create a handful of social problems for a city that already has its fair share, possibly create an island development that encourages its patrons not to leave the confines and potentially insert an out-of-place building and design into one of the nation’s largest and most important historical districts.

Mixed Use redevelopment plan for Broadway Commons that competed with the ballpark proposal – Source

My preference would be for a rail transit hub with mixed use development. Another ideal scenario would be to develop the site as a high-tech business hub that would capitalize off of the proximity to both Downtown and Uptown with its hospitals and universities. At the same time I do realize the need to develop this site into something productive. So I’m decidedly undecided on the issue. Can anyone sway me one way or another?

If you’re in favor of this proposal feel free to sign the online petition.
Categories
Business Development News Politics

Brown states balance concerns for our environment, our jobs

A recent New York Times article coined the term “brown state-green state clash,” referring to the opposing viewpoints of politicians from the coasts and politicians from the Midwest and Plains States. “Green states” like California are pushing for higher fuel efficiency, more renewable energy, and other efforts to fight climate change, while “brown states” like Ohio are resisting in order to preserve our manufacturing jobs.

In particular, many brown state officials are opposed to a cap-and-trade system proposed by President Obama. This proposal sets a ceiling on carbon dioxide emissions, giving manufacturers a certain number of credits and allowing them to emit a certain amount of pollutants. If a company reduces its emissions, it can sell its excess credits to companies who pollute more.

After a failed U.S. Senate global warming bill in June 2008, ten senators from coal-dependent, manufacturing-heavy states created the “Gang of 10,” which has since grown to 15 members. Ohio’s Sherrod Brown was part of the original group. Brown claims, “There’s a bias in our Congress and government against manufacturing, or at least indifference to us, especially on the coasts.” He adds, “If we pass a climate bill the wrong way, it will hurt American jobs and the American economy, as more and more production jobs go to places like China, where it’s cheaper.”

This seems to contradict themes echoed in both national and local politics, pushing for more “green jobs.” Environmental blog Gristmill points out that Midwest and Plains States will likely come out ahead job-wise in the push to become green: Plains States have been nicknamed “the Saudi Arabia of wind,” and the Midwest will manufacture wind turbines that are too large to be shipped from overseas. Senator Ed Markey of Massachusetts says, “A lot of new jobs will be created if we craft a piece of global warming legislation correctly, and that is our intention.”

Clearly, what we have is a disconnect between politicians claiming a green future will create jobs and politicians claiming exactly the opposite.

In Washington state, Democratic Senate leaders plan to direct $180 million of stimulus money to their plan “Clean Energy, Green Jobs.” One aspect of the plan, retrofitting low-income residents’ homes to be more energy efficient, will create an estimated 7,500 jobs over five years. The plan would also create an agency to oversee greenhouse gas emissions, and reduce them to 1990 levels by the year 2017. Republicans oppose the plan, saying that the new restrictions would be an impediment to businesses.

A similar movement is starting to happen in the Ohio state House, where Democrats are pushing for higher energy efficiency standards in public buildings. They claim this will cause job creation in the fields of energy-efficient design and construction. Republican Senator Jimmy Stewart said he supports the plan as long as it doesn’t create additional delays in construction.

Are our politicians effectively balancing concerns for our environment with the need to preserve jobs in our region? Will the green movement cause a gain or loss of jobs? Sound off in the comments section.

Additional reading/Sources:

Photo from Flickr user Caveman 92223

Categories
Business News Transportation

The future of CVG and its travelers

The Cincinnati/Northern Kentucky International Airport, CVG, is in a transition period. The airport has been known for its sky-high fares and single airline dominance (Delta) for some time. At the same time CVG has brought new companies, people, and bolstered the region’s corporate presence since its start in 1947.

The airport itself has completed a third north/south runway and an extension of the primary east/west runway within the past decade (Runway Project Map). More recent work has been on the development of a new transportation center, for buses, on the east side of Terminal 3. These improvements have increased capacity and efficiency of the airport in a way that positions CVG well for future success.

The problem though is the state of the airline industry. Fuel prices are going up, as are the costs associated with security measures. CVG in particular has been hit even harder by the several nearby competing airports (Louisville, Dayton, Columbus, Indianapolis) that often offer cheaper flights with less hassle. So what’s an airport to do?

Well CVG has started to aggressively pursure several new airlines, as well as, looking for existing juggernaught Delta to increase its operations here as operating costs out of Atlanta look to be rising. The news is that in addition to Delta, low-cost carrierAirTran may be in the mix to fill the low-cost void at CVG.

UrbanCincy has also been informed that a brand new airline is looking into offering non-stop flights, from CVG, to several business/travel destinations. Preliminary plans call for this service to start prior to this upcoming Summer season (more information coming soon).

So what does all of this mean for CVG and Cincinnati area air travelers? Increased competition, especially from low-cost carriers, may result in lower fares from the primary controlling force at the airport – Delta. Lower costs at CVG may be bad news then for Dayton’s airport that currently capitalizes off of CVG’s failures. Thus illustrating the tricky business of airline travel, and highlighting the paradigm that when you solve one problem, you create another.

Categories
Business Development News Transportation

Around Town

“On a recent Saturday with about 10 other young professionals, locked in a new, for-sale Over-the-Rhine condo that didn’t have any heat talking about how we can make Cincinnati a better place for people like us. It was organized by CincyPAC — a political action committee of about 1,100 young professionals who specifically target Cincinnati City Council races to lobby for a better city for those in their age bracket — as a retreat where we might invigorate ourselves for this fall’s council elections.”

During this retreat the young professionals discussed what it is that could improve Cincinnati. Naturally their discussions were taken over by talks of the proposed streetcar system. As this effort progresses to bring fixed-rail transit to Cincinnati, the number of passionate supporters continues to grow. It’s not just the political wonks, it’s the young people, residents, business owners, and others who have seen what streetcars have done elsewhere, and what they once did for Cincinnati. Stay tuned as more and more get on board.

On another completely unrelated note. If you’re one of those people who believe nothing is happening at The Banks, well you’re wrong. While the bad economy has plagued many projects, it has been a gain for others like The Banks. Contract after contract is coming in under budget due to the competitive bidding process for the work. Small-business participation has exceeded initial goals, there have been 9,000 work hours without a lost-time accident, and the project is making some very visible headway.

LEFT- You can see the first of the two-level parking decks that will lift the development out of the flood plain.
RIGHT – You can see the support columns rising first along the path of what will be Freedom Way.

Photos courtesy of Chad McCann
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Arts & Entertainment Business News

Skate for cheap on Fountain Square

Cincinnati’s popular ice rink on Fountain Square is open every day through February 22nd, and thanks to some special deals you can take advantage of this seasonal attraction for as little as $1.03.

Skate rental will still be the same ($2.50) each time you visit, but the rink won’t be up for much longer so you should take advantage of it and these deals while they last. If you’re one of those young people taking advantage of the noon-5pm special I would recommend getting down there for some lunch (try Javier’s for something good, warm, local, and cheap) and then hitting up the rink.

Families should get down there and then enjoy a carriage ride around Downtown on those lazy Sunday afternoons. Maybe grab some breakfast at Tazza Mia before you set the kids lose on the ice rink. And for the DJ and Radio Skates I would recommend hitting up a nearby happy hour before hand to really get the party started and make things a little interesting out there on the ice rink.

  • Radio Skates, every Friday from 6-10pm through 2/20. Kiss 107 FM and Mojo 100.3 FM will offer admission for $1.07 and $1.03 respectively.
  • DJ Skates, every Saturday from 7-10pm between 1/10 and 2/21. Regular admission ($2.50) but skaters will enjoy free entertainment from a DJ.
  • Family Skates, every Sunday from 10am-2pm. Children under 12 years of age get free admission and will be joined by a host of characters like Rufus the Library Dog (1/11).
  • High School/College Nights, Monday through Friday every week from noon-5pm. High school and college students, with a valid student ID, skate for free.

Photo Credit: http://www.myfountainsquare.com/