OVER-THE-RHINE HOW FAR WE HAVE COME OVER-THE-RHINE HOW FAR WE HAVE COME 50000 45000 40000 35000 30000 25000 OTR Population OTR Decline 20000 15000 10000 5000 0 1900 1960 1980 1990 2000 OVER-THE-RHINE HOW FAR WE HAVE COME 500 700 VACANT VACANT BUILDINGS LOTS 1667 VACANT HOUSING UNITS OVER-THE-RHINE HOW FAR WE HAVE COME OVER-THE-RHINE HOW FAR WE HAVE COME OVER-THE-RHINE HOW FAR WE HAVE COME OVER-THE-RHINE HOW FAR WE HAVE COME 118 W. 15th (Walt’s) 1331-35 Vine (AM/PM Market) 1432 Vine (Pohlar Bar) 20-22 W. 12th (Jordan’s) 1401 Race (Bang’s) 3 E. 13th (Albert’s) 1412 Vine (Cricket) 1201 Vine (Glossinger’s) OVER-THE-RHINE HOW FAR WE HAVE COME Before: After: OVER-THE-RHINE HOW FAR WE HAVE COME Before: After: OVER-THE-RHINE HOW FAR WE HAVE COME Crime Statistics within OTR Target Area Part I Crime Part II Crime Calls for Service TOTAL CRIME 2004 1,170 603 12,678 1,773 2005 1,160 587 12,495 1,747 2006 946 537 11,533 1,483 2007 675 510 9,409 1,185 2008 671 443 7,476 1,114 2009 567 351 6,409 918 2010 540 341 6,149 881 2011 583 323 6,054 906 2012 588 335 6,427 923 2013 549 311 6,826 860 OTR ACTION STEP: LAND BANKING • CEF/CNMF has invested over $32.8 million in private funding to land bank properties in the Washington Park section of OTR • 3CDC owns: 200 buildings 169 vacant parcels • Over $700,000 in annual carrying costs OTR INVESTMENT TO DATE Project OTR Land Banking Mercer C ommons Line Gateway I Gateway II Gateway III Vine Street Streetscape Gateway Quarter Parking Lot Fine Arts Fund/Artworks Parvis Lofts Apartments Westfalen Lofts Saengerhalle Office 24 East 14th Street Lackman Bar Washington Park Homeless to Homes Paint Building Park Haus Gateway V OTR C onsortium OTR Predevelopment Mercer C ommons I & II Taft's Ale House C intrifuse 1201 Walnut TOTAL Total Investment 32,812,547 5,000,000 7,279,004 23,273,522 35,274,288 2,500,000 800,000 1,000,000 11,873,692 3,381,849 8,361,761 460,000 524,500 48,007,336 33,417,538 5,692,196 6,471,925 25,570,692 250,000 8,938,268 47,631,446 8,268,380 1,945,985 7,968,583 326,703,512 OVER-THE-RHINE HOW FAR WE HAVE COME S TA B I L I Z E D H I S T O R I C B U I L D I N G S 1 4 1 8 - 2 2 Ra c e S t r e e t - We s t f a l e n S TA B I L I Z E D H I S T O R I C B U I L D I N G S 1 4 1 8 - 2 2 Ra c e S t r e e t - We s t f a l e n S TA B I L I Z E D H I S T O R I C B U I L D I N G S 1 4 1 8 - 2 2 Ra c e S t r e e t - We s t f a l e n S TA B I L I Z E D H I S T O R I C B U I L D I N G S 1 4 1 8 - 2 2 Ra c e S t r e e t - We s t f a l e n OVER-THE-RHINE RESIDENTIAL DEVELOPMENT Apartments OVER-THE-RHINE RESIDENTIAL DEVELOPMENT Apartments Average rent per SF Average rent per SF Parvis Apartments $1.30 The Belmain $1.42 B‐Side $1.31 Mercer II $1.40 THE BELMAIN B-SIDE APARTMENTS OVER-THE-RHINE RESIDENTIAL DEVELOPMENT Condominiums COMPLETED: #Units Bakery Lofts Bremen Lofts 9 Mercer Commons 17 Mottainai Centennial Row 8 Nicolay City Home 22 Park Haus Duncanson 25 Republic Street Lofts Duveneck 15 Tea Co Townhomes Falling Wall 6 Trideca th Gateway I 21 Trinity 14 & Vine Goodfellows Hall 5 Trinity Flats The Hummel 4 Westfalen Lofts Lackman Lofts 7 Westfalen II Total Condominiums: 300 Average Sales per SF: $195 #Units 28 8 10 12 9 9 9 9 25 9 33 OVER-THE-RHINE RESIDENTIAL DEVELOPMENT Condominiums Average sales price per SF Phase II $150 Phase III $151 Phase IV $178 Phase V $263 Mercer Commons $281 OVER-THE-RHINE RESIDENTIAL DEVELOPMENT WESTFALEN II TEA COMPANY MERCER TOWNHOMES REPUBLIC STREET LOFTS THE HUMMEL NICOLAY NICOLAY Westfalen II MERCER COMMONS Phase I • 3,900 SF Commercial/Office • 28 Condos • 340-space Parking Garage • CDF committed $2.56 million of state and federal NMTC Phase II • 67 Apartments (30 affordable) • 10,600 SF commercial space • OHFA awarded project low income housing tax credits and also received historic tax credits from State of Ohio Phase III • 12 Townhomes • 60,000 SF Commercial Space MERCER COMMONS MERCER COMMONS MERCER COMMONS MERCER COMMONS MERCER COMMONS MERCER COMMONS PHASE I • Developer: 3CDC • Project Cost: $27.6 Million • Project Summary: 3,900 SF commercial / office 28 Condominiums 340-space parking garage • Estimated Completion Date: Garage opened March 2013. “Mercer Historic” condos completed in August 2013 and 10 of the 11 are sold. Five “Mercer Townhomes” will go on the market in December. Twelve condos in newconstruction (“Mercer One”) will be completed Jan 2014. MERCER COMMONS PHASE I MERCER COMMONS MERCER COMMONS PHASE II • Developer: McCormack Baron Salazar, Inc. • Project Cost: $22.3 Million • Project Summary: 67 apartments (30 affordable) 10,600 SF commercial space • Estimated Completion Date: May 2014 Waitlist has been established for apartments Commercial space is being shown/marketed MERCER COMMONS PHASE II MERCER HISTORIC MERCER HISTORIC MERCER HISTORIC OVER-THE-RHINE COMMERCIAL DEVELOPMENT 16 New Restaurants 1215 WINE BAR & COFFEE LAB ABIGAIL STREET BAKERSFIELD THE EAGLE GRAETER’S HOLTMAN’S KAZE QUAN HAPA SALAZAR SENATE TASTE OF BELGIUM RESTAURANT SALES 3CDC has developed 16 bars/restaurants throughout Over-the-Rhine $773 2013 Average Sales / Square Foot $840 2014 Average Sales / Square Foot