Tag: Cincinnati

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Business Development News

Avondale celebrates the completion of Cincinnati’s first LEED certified affordable housing development

The completion of Cincinnati’s first-ever LEED certified affordable housing complex was celebrated with a ribbon cutting in Avondale last week.

Created for seniors, Forest Square Apartments was developed by The Model Group and designed by City Studios Architecture. The new structure is hard to miss at 3511 Harvey Avenue, as its modern design and colorful exterior stands out amidst the numerous historic homes in the inner-city neighborhood.

The $4.3 million dollar development includes 21 two-bedroom handicap accessible units that offer high efficiency heating, air conditioning, and plumbing. Developers also tout the project’s LEED Silver accreditation, its community garden, kitchenettes, community room, on-site parking, and two outdoor patios.

The project was assisted by a $1 million award from HUD Recovery Act Tax Credit Assistance Program funds that were part of the American Recovery & Reinvestment Act. Local leaders and supporters attended the ribbon cutting, applauding the creative financing of such a unique project during these turbulent economic times.

Speakers also pointed out how important projects like these are during an economic recession, highlighting the fact that this project put people back to work, and produced decent, safe, and affordable housing.

“This project is a key indicator that Avondale is on its way back from being an under-served community,” reiterated Councilman Wendell Young. “This project will provide a safe and healthy environment for our seniors to live in the coming years.”

The project was developed with the Avondale Vision Plan and Burnet Avenue Revitalization Plan in mind as well. Both of which outline ways in which to re-establish Avondale as a safe and affordable neighborhood of choice.

Other agencies involved in the development include the Ohio Housing Financing Agency, HUD, PNC Bank, Avondale Community Council, Uptown Consortium, Key Bank, LISC, Ohio Capital Corporation for Housing, and the City of Cincinnati.

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Business Development News

Historic loft renovation project starts anew in downtown Cincinnati

The redevelopment of downtown Cincinnati’s former industrial buildings continues with the McFarland Lofts, a seven-unit condominium project under construction in a circa 1901 wagon livery and horse stable. Developers plan to build two units on the building’s middle floors and a penthouse unit is planned to occupy the building’s entire fifth floor.

A recently completed a model unit on the second floor illustrates the incorporation of the building’s original brick and high level of finish expected for the rest of the building. It also assuages fears about noise from Interstate 75, which is a block away but almost entirely out of sight and cannot be heard inside the building.

Upper units on the building’s north side boast views of historic buildings along Fourth Street. The fate of an empty lot between the McFarland building and Fourth Street is uncertain, however Cincinnati’s parking code prevents construction of a high-rise that might block views of the historic district.

Secure parking for residents of McFarland Lofts (map) is provided on the building’s first floor. Units are priced in the low to mid $200’s with a 10-year tax abatement through the City of Cincinnati.

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Business Development News Politics

Senate bill would offer tax credit to residential landlords making energy upgrades

State Senator Eric Kearney (D-Avondale) introduced a bill which would create a tax credit for landlords who improve the energy efficiency of their buildings. Senator Kearney hopes that the bill he introduced last month will encourage residential landlords to update their units and lessen the utility costs on their tenants.

“I received complaints from constituents who live in apartments that lack general upkeep and every month they pay for the lack of maintenance” Senator Kearney stated. “My constituents in rental units deserve to live in safe, eco-friendly environments that decrease their utility bills, and Senate Bill 310 provides landlords with positive incentive to make changes.”

If implemented, the bill would give residential landlords a 15 percent income tax credit for making upgrades by installing energy-saving devices, replacing aging appliances with Energy Star-rated appliances, sealing and insulating air ducts, and upgrading exterior wall windows and doors.

Improved sealing and insulation of duct work has been reported as saving as much as 20 percent in energy costs alone.  Senator Kearney says that the idea of making these efficiency upgrades is one that benefits everybody, and one that is particularly relevant in today’s economy.

“Energy costs are rising and given the unfortunate state of our economy few people can afford increased utility bills, especially if they are related to a lack of maintenance.”

The proposed legislation does more than simply promote energy upgrades, it also incentivizes upgrades to historic structures which most often house renters in multi-unit dwellings within the city’s inner neighborhoods.  The news comes on the heels of complimentary legislation introduced by Senator Kearney in September that proposed a 25 percent tax credit for the renovation of homes built before 1950 in low income neighborhoods.

“Both the property and the greater community benefit from home renovations. When homeowners invest in their properties the monetary value of the neighborhood increases along with its reputation.”

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Development News Transportation

Public gets first chance to see modern streetcars in Cincinnati

This past week Cincinnatians were given a chance to tour a modern streetcar similar to those that will operate here beginning in 2013. The particular streetcar on display was manufactured by United Streetcar in Clackamas, OR and has been in testing on Portland’s streetcar tracks since it was built in 2009.

The streetcar is a near clone of the Czech-built Skoda streetcars that have been in operation there since 2001. After a tour of other cities considering streetcar systems, it will return to Portland and enter revenue service there next year. United Streetcar is currently building six new streetcars for Portland’s system expansion and seven streetcars for a new system in Tuscon, Arizona.

The streetcar displayed in Cincinnati can be viewed in action on Portland’s tracks on United Streetcar’s website, or by visiting it in person at 5th and Race streets (map) until Wednesday, November 10.  Below is a video from the first day this modern streetcar was on display in Cincinnati.  Mayor Mallory, business leaders, residents, and visitors gathered to get a look at the vehicle that will soon be running on Cincinnati’s streets.

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Business Development News

OEDA recognizes Cincinnati for industry leading marketing efforts

The Ohio Economic Development Association (OEDA) recognized Cincinnati for its efforts in marketing and volunteerism at its annual summit held last week in Columbus. OEDA officials say that the awards program is meant to recognize the achievements of both individuals and organizations throughout the state in the areas of economic and workforce development.

The City of Cincinnati’s Economic Development Division was recognized for its new Choose Cincy website which debuted earlier this year. The new website replaces a previously buried site on the City’s main page, and has dramatically improved access to information for those interested in the economic and demographic activities in Cincinnati.

“The new website signified a huge step forward on how we communicate with the economic development community as we seek new investors and bring jobs to Cincinnati,” Interim Economic Development Director Patrick Ewing said in a release. “This will help us to further compete in a global economy.”

The other recognition went to Cincinnati Neighborhood Business Districts United (CNBDU) organization for excellence in volunteerism. Two individuals, Mike Wagner and John Price, were specifically identified for their years of service leading the non-profit group that works to improve Cincinnati’s many neighborhood business districts (NBDs).

Wagner and Price started the organization in 1993 and have helped secure roughly $30 million in City funding for nearly 200 capital improvement projects, like streetscaping work, throughout many of Cincinnati’s NBDs.