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Page 1: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway
Page 2: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

INVESTMENTS TO DATE

Ove r t he pa s t 6 yea r s :

$155 Mi l l ion CEF/CNMF investment

$122 Mi l l ion pr ivate investment

$47 Mi l l ion Ci ty investment ( w i t h a d d i t i o n a l p l e d g e o f 1 6 . 4 t h r o u g h T I F d i s t r i c t s o v e r t h e n e x t

2 0 y e a r s w i t h a N P V o f $ 7 . 7 m i l l i o n )

$324 MillionI nves t ed i n down town and OTR

Page 3: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

CENTRAL BUSINESS DISTRICT

Page 4: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

INVESTMENTS TO DATEIN CBD

Project Total Investment

Fountain Square $48,920,500

CBD Land Banking $11,450,096

Lofts at Fountain Square $5,345,000

McAlpin $19,441,656

Walnut Street Streetscape $405,721

Righteous Room $2,233,978

Bootsy's $3,377,000

21c $55,920,079

Maisonette $14,826,311

TOTAL $161,920,341

Page 5: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

OVER-THE-RHINE

Page 6: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

INVESTMENTS TO DATEIN OTR

Page 7: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

UPCOMING INVESTMENTS

Ove r t he nex t 12 mon th s :

Mercer Commons - $50 Mi l l ion

Gateway V - $27 Mi l l ion

Homeless to Homes - $25 mi l l ion

$102 Million

I nves t ed i n OTR

Page 8: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

OVER-THE-RHINE

Page 9: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

RESIDENTIAL SALES

Ga teway I , I I , I I I & IV: 144 of the 186 condos (77%) are sold

Page 10: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

RESIDENTIAL SALES

Ga teway IV, Wes t f a l en Lo f t s : Completed in late March, 9 units

Page 11: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

RESIDENTIAL SALES

Ga teway IV, C i t y Home Phase 1B : Ribbon Cutting TODAY, 4 units

Page 12: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

RESIDENTIAL LEASING

Ga teway I , I I & I I I : 68 of the 68 apartments (100%) are leased

Page 13: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

RESIDENTIAL LEASING

• 12 apartments designated for Art Academy of Cincinnati students

Continuously occupied

• 32 apartments located in Parvis Lofts, 1400 block of Vine

Opened in December 2010 and leased within three months

• 16 apartments converted from condos located in Belmain, 1202 Main St

Opened in June 2011 and leased within one month

• 8 apartments located at 24 East 14th Street

• Opened in December 2010 and leased within one month

Page 14: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

COMMERCIAL LEASING

64% of space leased (58,189 SF of 91,038 SF). Currently negotiating multiple leases.

Page 15: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Cincy Haus – Opened April 30

COMMERCIAL LEASING

Page 16: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

A Tavola Bar + Trattoria – Opened May 31

COMMERCIAL LEASING

Page 17: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Abigail Street - Coming Soon

COMMERCIAL LEASING

Page 18: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

COMMERCIAL LEASING

• Opening soon

Abigal Street, 1216 Vine Street

Taste of Belgium, 1133-35 Vine Street

Bakersfield, 1213 Vine Street

Ionic Collective, 1326 Vine Street

Harper Sloane, 1216 Vine Street

On The Run Cleaners, 1332 Vine Street

• Currently negotiating 8 letters of intent

Would bring total leased SF to 80% of available space

Page 19: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Saengerhalle Office Building, home of 3CDC

COMMERCIAL LEASING

Page 20: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

SAENGERHALLE TENANTS

Page 21: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Parvis, 1400 Block of Vine

COMMERCIAL LEASING

Page 22: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

PARVIS TENANTS

Parvis Tenants SF Business Type

Projected

Employees

OTR Sales Center 1,065 Residential sales 2

Mannequin 1,980 Clothing Boutique 3

Brandery 4,605 Consumer marketing

venture accelerator

28

Kathy Hamm Gallery 565 Art Gallery 2

Available Space 7,490 --- ---

Total 15,705 35

Page 23: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

• A non-profit, started in 2010

• Entrepreneurship support organization focused on

economic growth in the region

• Annually selects 5 companies for a 12 week program

Each receive $20,000 in seed funding

Three months of mentorship

An opportunity to pitch to angel investors and

venture capitalists at the end of the program

• In 2011, The Brandery plans to become a community

center for start-ups in the Greater Cincinnati region

PARVIS TENANTS

Page 24: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

NEW SERVICES

$6 Valet Parking• Loca ted on V ine S t . • Thurs – Sat• 5pm to M idn igh t

Page 25: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Ambassador Program

• Route includes Vine and Main streets between Liberty Ave. and Central Parkway and 12th

and 13th streets between Vine and Main streets

• Office is located at 1417 Vine St.

• Clean Team

One ambassador

Schedule

o Monday through Friday, 6am to 2:30pm

o Saturday & Sunday 8:30am to 5pm

Focus on litter patrol, graffiti removal, weed abatement, and pressure washing

• Safe Team

Two ambassadors

Schedule

o Thursday, Friday and Saturday from 3:30pm to Midnight

Panhandling interactions, bike patrols and safety patrols.

NEW SERVICES

Page 26: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

•Mercer Commons

•Color Building

•15th & Republic

•Parvis II

•Bakery Lofts

•13th & Republic

•Nicolay

•1401 Elm

•Westfalen II

Page 27: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Mercer Commons

• $50 million project

• 2.67 acres – 19 buildings and 26 vacant parcels

• 101 market rate apts.

• 30 affordable apts.

• 28 condominiums

• 28,651 SF commercial

• 369 parking spaces

Page 28: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

MERCER COMMONS

Page 29: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

MERCER COMMONS

Phase 1 Phase 2 Phase 3 Total

Commercial/Office (SF) 13,853 13,725 1,073 28,651

Condos 28 - - 28

Apartments - 67 64 131

Parking 350 - 19 369

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Page 31: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

MERCER COMMONS

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MERCER COMMONS

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Aerial view from southeast

MERCER COMMONS

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Phase I

MERCER COMMONS

Phase 1 Commercial/Office (SF) 13,853 Condos 28 Apartments 0 Parking 350

Page 35: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Proposed Vine Street Elevation

Existing Vine Street Elevation

Page 36: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Vine Street Elevation - East

Mercer Street Elevation - South

MERCER COMMONSPhase I E leva t ions & Render ings

Vine Street Rendering

Page 37: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Phase II

Phase 2 Commercial/Office (SF) 13,725 Condos 0 Apartments 67 Parking 0

Page 38: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Proposed Walnut Street Elevation

Existing Walnut Street Elevation

New Building ‘G’

Page 39: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

MERCER COMMONSPhase I I E leva t ions & Render ings

Walnut Street Elevation - West

14th Street Elevation - South Walnut Street Rendering

Page 40: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Phase III

Phase 3 Commercial/Office (SF) 1,073 Condos 0 Apartments 64 Parking 19

Page 41: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

MERCER COMMONSPHASE III ELEVATIONS

14th Street Elevation - South

Mercer Street Elevation - North

Page 42: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Color Building 1400 Vine St.

•Project Cost: $4.1 million•6,000 SF office•3,680 SF restaurant/retail

Page 43: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

GATEWAY QUARTER PHASE V:

•Prior to renovation over 100,000 gross SF of space

•21 vacant buildings will be redeveloped into 98 residential units and 8,500 SF street level commercial space

Page 44: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

13th and Republic

•12,600 Gross SF•9 for sale units•1,065 SF of commercial space•Project cost: $2,579,626

Page 45: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Westfalen II1426-1438 Race Street

•32,798 Gross SF•30 for sale units•5,400 SF of commercial space•Project Cost: $6,699,554

Page 46: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Bakery Lofts Project1421 – 23 Race St.

•10,402 Gross SF•9 for sale units•Project Cost: $2,344,266

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Republic Street Project

•6,500 Gross Sf•5 for sale units, 17 rentals•Project Cost: $3,846,821

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Parvis II1406 and 1412 Republic Street

•12,300 Gross Sf•13 rentals•1,130 SF of commercial space•Project Cost: $2,550,407

Page 49: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

Nicolay 1401 Republic Street

•13,293 Gross SF•9 for sale units•1,035 SF of commercial space•Project Cost: $2,180,202

Page 50: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

1401 Elm

•7,290 Gross SF•6 for sale units•Project Cost:$1,522,518

Page 51: INVESTMENTS TO DATE · Mercer Commons - $50 Million Gateway V - $27 Million Homeless to Homes - $25 million $102 Million Invested in OTR. OVER-THE-RHINE. RESIDENTIAL SALES Gateway

THANK YOU