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Business News

Cincinnati Lags Milwaukee In Establishing Itself As Hub For Water Technology

Water’s importance, not only as a natural resource but as a driver of innovation and new technology, has been much-touted recently. While Cincinnati has hosted meetings and been pin-pointed as a national focus area for water innovation, impressive progress in this sector can be seen further north in Milwaukee.

Sitting on Lake Michigan, Milwaukee is a natural candidate for water innovation technology. As far back as 2006, a group of local business leaders created The Water Council with the intended goal of developing cooperation between the more than 100 water-related businesses and universities, government agencies, and other means of support.

Initiatives like B.R.E.W. (Business. Research. Entrepreneurship. In Wisconsin.) are among the many activities The Water Council supports.

Because of Milwaukee’s important water industry, those groups involved with The Water Council are creating the Water Technology District – intended to be a cluster and hub of innovation in the water industry. The city, looking to help The Water Council incubate water-related businesses in Milwaukee, has committed to developing the Reed Street Yards.

Dissected by the Menomonee River, the Reed Street Yards is a former rail yard, truck depot, and brownfield site in close proximity to downtown and with large amounts of available space for development.

The result has been the Global Water Technology Park.

Infrastructure within the park reflects the intentions of the involved organizations. The new public access road Freshwater Way, for example, is paved with PaveDrain, which is a water-friendly permeable surface. This permeable material was developed by a local company that now rents space in the business park. A special pipe system also helps pump recycled water to buildings to be used in non-potable functions like landscaping.

The city’s gamble on helping create this district seems to be paying off already: they recently attracted the global headquarters of a manufacturer of plumbing products focused on sustainability.

The Water Council’s headquarters is also in the business park, which houses university departments, startups, and other organizations. The space is 100% occupied and there are already concrete plans to open a second office.

Furthermore, the University of Wisconsin-Milwaukee now has the first graduate program in the country solely for freshwater research in their School of Freshwater Sciences; and they have since established a campus in the business park as well.

Extending beyond only water innovation and technology, the development around this sector has revitalized the local Walker’s Point neighborhood. Formerly highlighted by abandoned warehouses, the neighborhood has seen an increase in businesses and apartments.

Cincinnati, long-defined by the Ohio River, is an obvious candidate for similar development.

In March 2014, Cincinnati hosted the EPA’s Water Technology Innovation Cluster Meeting, the first gathering of its kind for national water-related groups and companies. Confluence, a local water-focused group representing Cincinnati, Dayton, Northern Kentucky, and Southeast Indiana, was present at the meeting.

And on November 12, the Woman’s City Club of Greater Cincinnati hosted an event to discuss how the region’s water technology resources can be better leveraged for innovation throughout the region. The meeting, called Liquid Gold: the Cincinnati ‘Water’ Technology Story, aimed to bring together the several clusters already focusing on this local asset; and featured local nonprofits, businesses, and other groups.

While these conferences show an interest in the topic, the region has thus far lacked a concerted effort on the part of local government, academia, and the private sector in advancing water innovation. Milwaukee has proven that this level of cooperation is needed to jump-start an industry that will continue to grow in importance (and employment) in the coming decades.

Categories
Development News

Hamilton Earning National Praise For Its Smart Growth Development Approach

Last month, the City of Hamilton was recognized for its built projects by the US EPA as one of three National Awards for Smart Growth Achievement in 2015.

The awards are given annually to three local government entities that embody the spirit of smart growth by embracing policies and strategies that re-utilize existing infrastructure, protect the environment, provide inclusive mixed-income housing, and strengthen local economies.

In the selection process, Hamilton was specifically singled out for a public-private partnership with Historic Developers, LLC that resulted in three redevelopment and preservation projects. This included Mercantile Lofts, Hamilton’s first new downtown housing in decades, and the conversion of the Journal-News’ former offices into an arts and dance studio that now houses the Miami Valley Ballet Theatre.

Officials say that the partnership leveraged just over $17 million to spark an additional $15 million in investment at adjacent properties.

Over the past five years, these initial projects have been a part of more than $65 million in direct investment, by both local and regional developers, along downtown Hamilton’s High Street corridor.

This award follows numerous others that have been given to the city by other organizations, including the International Economic Development Council’s Excellence in Economic Development awards in 2013 and 2014.

The other two cities recognized in this year’s National Awards for Smart Growth Achievement were Newark, NJ for its revitalized riverfront park, and Jackson, TN for its Jackson Walk mixed-use development in its completely rebuilt downtown district.

Categories
Development News

State Historic Tax Credit Expected to Boost $3.1M Renovation of Goetz Tower

The seven-story Middletown Building & Deposit Association tower in Butler County was one of 12 projects in southwest Ohio to receive historic tax credits last month from the State of Ohio. As part of the deal, the $3.1 million project will receive $600,000.

The redevelopment of the 85-year-old structure will result in expanded and renovated street-level retail space, with 24 market-rate apartments on the six floors above that.

The hope is that other similar, but smaller-scale, projects come online, as is expected, after the next round of historic tax credits are awarded this spring.

As earlier reported by UrbanCincy, this award was part of a larger $42 million distribution of historic tax credits state-wide by the Ohio Development Services Agency. The goal of the tax credits, public officials say, is to spark economic development while also preserving historic structures. It is anticipated that this round of awards will spur an estimated $600 million in private investment.

This award comes after nearly $150,000 in grants for assessments and site preparation awarded by the Duke Energy Foundation, US Environmental Protection Agency, and Cincinnati Development Fund. The moment that really gave the project its initial boost, however, came in 2012 when the building was donated to Grassroots Ohio by Fifth Third Bank.

In conjunction with the $10 million rehabilitation of the Sorg Opera House, city officials and private developers are expecting to leverage this initial project to spur additional development nearby. They are also hoping to leverage its location across from Cincinnati State’s Middletown campus as a walkable alternative to students who are primarily commuting from outside the city.

Built in 1930, the seven-story, Art Deco building has survived decades of changes in the heart of Middletown. Upon completion of renovations, project officials say that the building will be renamed Goetz Tower in honor of its original architect.

Construction is anticipated to start in March and last approximately 18 months.