Tag: retail

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Business Development News

Pogue’s Garage to Make Way for 30-Story Residential Tower, Grocery Store

Former Design Concept [Provided]

Cincinnati City Manager Milton Dohoney briefed City Council’s Budget & Finance Committee of the specifics of a plan to modernize and lease some of the city’s parking assets. Part of the immediate $92 million infusion, as part of the plan, would be used to spark the redevelopment of Tower Place Mall and Pogue’s Garage.

Dohoney stated that the vacant Tower Place Mall would be converted into a 500-space parking garage, with 20,000 square feet of street-level commercial spaces fronting onto Race and Fourth Streets.

“Residential is a huge factor in the ability to attract and retain retail, but what retail really wants is customers,” explained David Ginsburg, President/CEO of Downtown Cincinnati Incorporated (DCI), with regards to the state of the center city’s retail scene.

285333_10151760214824698_747240426_n Pogue's Tower
The City of Cincinnati has struck a deal that would tear down the crumbling Pogue’s Garage and replace it with a mixed-use residential high-rise. Renderings provided.

To that end, the adjacent Pogue’s Garage, as part of the project, would be torn down and the site rebuilt with a 30-story mixed-use tower with 300 luxury apartments, 1,000 parking spaces, and a 15,000-square-foot grocery store.

The reconstruction of Tower Place Mall, city officials say, would be overseen by JDL Warm, and would begin as early as fall 2013. The redevelopment of the Pogue’s Garage site would be overseen by Flaherty & Collins, which would be funded with $82 million in private investment and $12 million from the City through its new parking lease.

Project officials say that all of the financing is in place, and a new-to-market grocery store has been secured for the new mixed-use tower.

The new tower’s contemporary architecture would contrast the historic high-rises flanking it along Fourth Street, and would dramatically change the street’s landscape.

One other component of the project requires the developer to also build the planned 725-space parking garage on Sycamore Street, which is adjacent to the proposed 200-room Holiday Inn & Suites.

A timetable has not yet been set for the $94 million project, but work would seemingly be able to begin as soon as the proposed parking lease is approved by City Council. The City of Cincinnati and DCI are currently working with Paragon Salon regarding its space in the Pogue’s Garage. No details have been shared, but Paragon’s lease runs through 2017.

“We need to make sure that everything is working all the time on all cylinders,” Ginsburg told UrbanCincy with respect to the hierarchy of needs for downtown investment. “If I were to get a bumper sticker for my bicycle or my car it would just be one word – more. Downtown needs more residents, it needs more businesses, it needs more workers, it needs more diversity.”

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Up To Speed

Rookwood Pavilion offering upscale outlets an urban destination

Rookwood Pavilion offering upscale outlets an urban destination.

Believe it or not, Rookwood Commons and Kenwood Towne Centre once were in a heated battle over which shopping destination would become the region’s premier stop. Due to a number of factors, including a messy eminent domain case that prohibited Rookwood from expanding, Kenwood has taken firm control of that title. Rookwood hasn’t died, however, and it may be looking to become a destination for unique retailers entering urban markets. More from the Business Courier:

The Nike factory store now under development at Rookwood Pavilion is part of a larger plan to reposition the 20-year-old retail center as something you’ve probably never heard of: an urban infill outlet. The architect of that strategy, Mark Fallon, says outlet retailers pay higher rents, attract fashion-conscious shoppers and are looking to expand into urban areas.

“This opens us up to 200 quality tenants in the future,” said Fallon, vice president at Jeffrey R. Anderson Real Estate Inc., which handles leasing for the 257,000-square-foot Rookwood Pavilion in Norwood. “It offers (outlet tenants) an urban infill location, as opposed to being out in the hinterlands.”

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Up To Speed

Report: retailers ‘vastly overestimate’ the role of free parking

Report: retailers ‘vastly overestimate’ the role of free parking.

We hear time and time again that urban retail centers need free and plentiful parking, and without it the customers will not come. New research, however, shows that the actual evidence for such claims is scant at best, and that retailers “vastly overestimate” the role free parking plays in their success. More from The Atlantic:

The review was conducted earlier this year by the cross-party policy group London Councils. The group performed a thorough meta-analysis of the existing academic and public agency research on the role of parking in urban commerce. It also sent parking questionnaires to all 33 London boroughs (comprising the city center, as well as inner and outer areas) and conducted market research with shoppers at three commercial centers in the outer regions. The findings can be reduced down to four main reasons retailers don’t need free parking to thrive.

1) Free, plentiful parking often hurts more than it helps, 2) shopkeepers overestimate how many customers arrive by car, 3) they also overestimate how much car customers spend, and 4) a mix of retailers is more important than parking supply.

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Up To Speed

Will Cincinnati hit another home run with Tower Place redevelopment?

Will Cincinnati hit another home run with Tower Place redevelopment?.

Cincinnati’s efforts to transform its center city are being noticed nationally, and the recent sale of Tower Place Mall is just the latest action made by the City that is turning heads elsewhere. The question now is will Cincinnati hit another home run with Tower Place Mall as it has with Fountain Square, Washington Park, The Banks, Smale Riverfront Park, and Fort Washington Way? More from Bloomberg Businessweek:

The city has pumped hundreds of millions of dollars into a major transformation that’s still under way. It began in 2006 with the reopening of downtown’s central Fountain Square after a $49 million renovation. Developers have spent more than $600 million on new apartments, restaurants and a park in the half-mile space between the Bengals and Reds stadiums. A $322 million, 41-story office tower that’s now the city’s tallest opened last year. And on Monday, a 156-room boutique hotel had its grand opening following a $51 million renovation.

Also in the works is a streetcar connecting several popular downtown-area spots slated to open in 2015 and a $400 million downtown casino set to open in the spring. In the nearby Over-the-Rhine historic district, dozens of shabby but beautiful buildings have been transformed into bars and restaurants popular among yuppies and hipsters, and a once crime-prone park underwent a $48 million overhaul to become one of the city’s favorite spots for concerts, outdoor movie viewings and flea markets.

As those projects thrive, popular retailers like Banana Republic, Victoria’s Secret and Chic-fil-a fled from Tower Place mall, which sits in the heart of it all. Just a handful of businesses still operate at Tower Place, and foot traffic is low even during the holidays.

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Business Opinion

Downtown Cincinnati’s retail future probably not the shopping mall

[This is a guest editorial written by Eric Douglas in response to Episode #9 of The UrbanCincy Podcast which focused on urban retail planning – Randy.]

Do people visiting downtown do so to shop at a mall?

That’s the question I ask myself regarding Tower Place and downtown Cincinnati shopping. Across the region, the standard indoor shopping malls along I-275 that we have come to know, Tri-County Mall, Northgate Mall, Cincinnati Mall/Cincinnati Mills/Forest Fair Mall, and Anderson Towne Center/Beechmont Mall, all have had their struggles (if the rebrandings alone aren’t enough to prove that).

When architect Victor Gruen invented what we now know as the indoor mall in a 1952 and subsequently opened his first prototype in 1956 in Edina, Minnesota, it was not a totally original concept. Shopping galleries had existed in European cities, Cleveland’s Arcade, and Chicago’s Merchandise Mart well prior to the 1950’s.

Do urban shopping malls like Cincinnati’s Tower Place Mall still make sense?. Macy’s Fountain Place photograph by Randy A. Simes.

Though the region’s suburban shopping malls modeled after Gruen’s are different from the European Galleries and Tower Place in that they have two or three department stores anchoring the smaller stores and are within large seas of parking – something even Circle Centre Mall in Indianapolis and Water Tower Place in Chicago have. But what is also a commonality between Tower Place and other regional malls is that the post-1950’s indoor shopping mall experience is no longer desirable to consumers.

Now Kenwood Towne Center is thriving, and this does not include the decaying Kenwood Towne Place, the indoor shopping mall is not a complete and total failure in most markets, especially those more affluent like Kenwood, West Palm Beach, Troy, MI, etc., and most developers have acknowledged this by making malls outdoor “lifestyle centers”, but who’s to say that’s a viable alternative that will last half as long (30 years) as the indoor mall lived.

All this background sets the stage for the original question: do people visiting downtown want to shop at a mall?

Looking at the recent notable large-scale projects in and around downtown, all of them hearken back to traditional urban areas or city-led development: Fountain Square, obviously with its square or piazza, the Gateway Quarter’s shopping, and The Banks grid street layout. From these successful examples, the city should continue to not to try to reinvent or retrofit itself in order to compete in a form similar to the suburbs, it should in fact continue to try to be the exact opposite of the suburbs and their shopping experiences. It should strive to be what only cities and traditional neighborhoods can and have been for 200 years in America: true organic places that provide genuine experiences that shopping malls and strip malls cannot provide simply by their nature.

Strive to be New York’s Fifth Avenue or Chicago’s Michigan Avenue where shopping for Christmas presents is such an enjoyable experience, even in winter, it’s romanticized in movies and attracts people from other states just to shop. Don’t strive for another mall that any municipality with a highway interchange can attract. Be different.

If you have something on your mind, please send your thoughts to us at urbancincy@gmail.com. The UrbanCincy team will then review your submission and get back with you for further details about your guest editorial.