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Author Topic: Cincinnati: Random Development News & Info  (Read 43301 times)

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Offline IAGuy39

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Re: Cincinnati: Random Development News & Info
« Reply #3300 on: June 14, 2018, 08:03:36 AM »
^yeah. The city should have put out an RFP to see if any developers had better ideas than just leaving it as a fenced in lawn. That area should be a top priority for infill and increasing density.

It's a 200x100 property.  So room for up to TEN single-family attached row houses.  But they'll probably tear down the historic multifamily that they are currently renting.

Moreover, the owner of the adjacent multifamily is an LLC from New York who just bought it in 2015.  Moreover, the owner of the vacant land on the other side of that multifamily paid $145,000 for a 90x200 plot.   

So back in 2013 "Five Korners LLC" paid $150,000 for a 90x200 plot (814 & 816 Lincoln) but "NVS Properties" is getting a corner parcel nearly identical in size for $7,500. 

Cranley, Cranley, Cranley. 



Yeah, that type of stuff just ticks me off.  Wonder if we can get CityBeat on it to investigate or something.

Seriously, I've been feeling a bit depressed about the state of the city recently.  I know Cranley wants development, but he is really setting the city back with his refusal to do some of the things that will actually progress our city like the Liberty Street Road Diet, simple streetcar fixes, finishing the Central Parkway Bike Lane, and things like trying to give out land for free.  Also, I am pretty ticked about the massive amount of TIF subsidies given to the new stadium.  We could have so much done and get so many projects kick started, like the buildings on 4th Street and Walnut and 5th that would be transformative downtown, using that TIF money.

When Mallory was in, it seemed like a new project was announced weekly, now it is just a crawl... Luckily, Mallory got the private development moving pretty good in OTR with the Streetcar finished up. I can't imagine where we would be without the streetcar...

Offline troeros

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Re: Cincinnati: Random Development News & Info
« Reply #3301 on: June 14, 2018, 10:38:50 AM »
^yeah. The city should have put out an RFP to see if any developers had better ideas than just leaving it as a fenced in lawn. That area should be a top priority for infill and increasing density.

It's a 200x100 property.  So room for up to TEN single-family attached row houses.  But they'll probably tear down the historic multifamily that they are currently renting.

Moreover, the owner of the adjacent multifamily is an LLC from New York who just bought it in 2015.  Moreover, the owner of the vacant land on the other side of that multifamily paid $145,000 for a 90x200 plot.   

So back in 2013 "Five Korners LLC" paid $150,000 for a 90x200 plot (814 & 816 Lincoln) but "NVS Properties" is getting a corner parcel nearly identical in size for $7,500. 

Cranley, Cranley, Cranley. 



Yeah, that type of stuff just ticks me off.  Wonder if we can get CityBeat on it to investigate or something.

Seriously, I've been feeling a bit depressed about the state of the city recently.  I know Cranley wants development, but he is really setting the city back with his refusal to do some of the things that will actually progress our city like the Liberty Street Road Diet, simple streetcar fixes, finishing the Central Parkway Bike Lane, and things like trying to give out land for free.  Also, I am pretty ticked about the massive amount of TIF subsidies given to the new stadium.  We could have so much done and get so many projects kick started, like the buildings on 4th Street and Walnut and 5th that would be transformative downtown, using that TIF money.

When Mallory was in, it seemed like a new project was announced weekly, now it is just a crawl... Luckily, Mallory got the private development moving pretty good in OTR with the Streetcar finished up. I can't imagine where we would be without the streetcar...

I still think the West End stadium project was the best option. You add, 25,000 (upwards to 30,000 when expanded) to the West End, an area that has seen 0 development, even during the Mark Mallory days. The project will also contain mixed use development around the stadium in the form of retail/dining/perhaps apartments (as stated by Jeff Berding)...

Also, as FCC recently announced, the stadium will host various events and concerts and wont sit vacant when there aren't matches being played. I think this will be a nice addition at the end of it all.

Offline taestell

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Re: Cincinnati: Random Development News & Info
« Reply #3302 on: June 14, 2018, 11:22:49 AM »
Also, I am pretty ticked about the massive amount of TIF subsidies given to the new stadium.  We could have so much done and get so many projects kick started, like the buildings on 4th Street and Walnut and 5th that would be transformative downtown, using that TIF money.

Plus, I don't remember all the specific details, but Cranley pulled some sort of shenanigan where the city "refinanced" several TIF bonds and converted them to normal city bonds. Before that happened, I did not even know that sort of thing was possible. I thought once a project was financed with TIF money, the revenue from the TIF district had to be used to pay off the bonds that were issued for the original investment. But apparently all you have to do is refinance the bonds and say "that's no longer a TIF project" and then you free up the capacity of the TIF district. So in the hands of a pay-to-play politician, it's a never-ending slush fund.

Offline jmecklenborg

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Re: Cincinnati: Random Development News & Info
« Reply #3303 on: June 14, 2018, 11:26:56 AM »


Plus, I don't remember all the specific details, but Cranley pulled some sort of shenanigan where the city "refinanced" several TIF bonds and converted them to normal city bonds. Before that happened, I did not even know that sort of thing was possible. I thought once a project was financed with TIF money, the revenue from the TIF district had to be used to pay off the bonds that were issued for the original investment. But apparently all you have to do is refinance the bonds and say "that's no longer a TIF project" and then you free up the capacity of the TIF district. So in the hands of a pay-to-play politician, it's a never-ending slush fund.


Cranley was a core figure in the establishment of Cincinnati's TIF districts back around 2002-03.  Plus, he worked as an attorney in a practice that specialized in municipal bonds. 

Cranley's entire political strategy since he was 25 years old has been getting huge campaign contributions from developers who he hands public property and subsidies at a deeply discounted price. 

I remember reading a "how to get rich in real estate" book about 10 years ago, and page 1 said join a country club and negotiate on how to pay almost zero tax and get public land and subsidies for dirt cheap. 




Offline JohnClevesSymmes

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Re: Cincinnati: Random Development News & Info
« Reply #3304 on: June 14, 2018, 11:38:25 AM »
Quote
^yeah. The city should have put out an RFP to see if any developers had better ideas than just leaving it as a fenced in lawn. That area should be a top priority for infill and increasing density.

According to the Planning Commission packet, the city did issue an RFP in December 2017.

Offline jwulsin

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Re: Cincinnati: Random Development News & Info
« Reply #3305 on: June 14, 2018, 12:51:05 PM »
Quote
^yeah. The city should have put out an RFP to see if any developers had better ideas than just leaving it as a fenced in lawn. That area should be a top priority for infill and increasing density.

According to the Planning Commission packet, the city did issue an RFP in December 2017.

Yikes - you're right that it was put out to bid, but how on earth was this the winning bid? It doesn't meet any of the goals stated in the RFP, so the City should have just waited until a better offer came in: http://choosecincy.com/Cincinnati/media/Cincinnati/EconDev/RFPs/830-Lincoln-RFP.pdf


Offline jmecklenborg

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Re: Cincinnati: Random Development News & Info
« Reply #3306 on: June 14, 2018, 01:35:02 PM »
I don't know how this process works.  If anyone can share any information I'll do a blog write-up or put something on UrbanCincy. 

I am aware that you are able to petition the Hamilton County Land Bank if you are an owner-occupant adjacent to a vacant lot owned by the land bank.  But this was city-owned land next to an investment property. 

Offline jwulsin

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Re: Cincinnati: Random Development News & Info
« Reply #3307 on: June 14, 2018, 02:05:34 PM »
I don't know how this process works.  If anyone can share any information I'll do a blog write-up or put something on UrbanCincy. 

I am aware that you are able to petition the Hamilton County Land Bank if you are an owner-occupant adjacent to a vacant lot owned by the land bank.  But this was city-owned land next to an investment property. 
If you just want to learn more about the general RFP process, you might be able to get somebody from the City to explain it. The RFP for 830 Lincoln outlined a lot of the process, so I'm not sure what else you might want to learn, other than # of applicants (which I assume the City won't want to divulge).

Offline jmecklenborg

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Re: Cincinnati: Random Development News & Info
« Reply #3308 on: June 14, 2018, 02:17:09 PM »
Well how is the RFP process publicized?  Does the city typically send letters to nearby property owners?

Offline jwulsin

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Re: Cincinnati: Random Development News & Info
« Reply #3309 on: June 14, 2018, 02:57:04 PM »
Well how is the RFP process publicized?  Does the city typically send letters to nearby property owners?
Not sure if/how they publicize to neighbors... but the City definitely tries to get the word out to developers/architects/etc: http://choosecincy.com/Economic-Development/Opportunities/Request-for-Proposals.aspx


Offline jmecklenborg

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Re: Cincinnati: Random Development News & Info
« Reply #3310 on: June 14, 2018, 03:21:33 PM »
If I had known about this I would have happily paid...$8,000 for this.  Hell, $18,000 is still a steal for a huge flat lot anywhere in the city. 

Online JYP

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Re: Cincinnati: Random Development News & Info
« Reply #3311 on: Yesterday at 08:04:05 AM »
Since Shillito's West and 9th and Plum are poised to become real projects I have created threads for them:

Shillito's West

9th and Plum
“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche