CINCINNATI
OUR MISSION•   3CDC is a non-profit, real estate    development and finance organization    focused on strategically revit...
Board MembersAmerican Financial Group *American Modern Insurance GroupCastellini CompanyCincinnati BellCincinnati Enquirer...
CEF/CNMF              Cincinnati Equity Fund           Cincinnati New Markets FundCincinnati Equity Fund           $44.5 m...
I N V E S T M E N T S TO D AT E                  Over the past 6 years:    $163 Million CEF/CNMF investment       $122 Mil...
UPCOMING INVESTMENTS     Over the next 12 months:Mercer Commons - $53.5 Million  Paint Building - $4.1 Million   OTR Phase...
OVER-THE-RHINE
OVER-THE-RHINE POPULATION                      DECLINE500004500040000350003000025000                                      ...
OVER-THE-RHINE CHALLENGES  500                               700 VACANT                            VACANTBUILDINGS        ...
OTR ACTION STEP:LAND BANKING• CEF/CNMF has invested  over $27 million in  private funding to land  bank properties in the ...
OVER-THE-RHINE CHALLENGES
OVER-THE-RHINE CHALLENGES
OVER-THE-RHINE CHALLENGES
OT R A C T I O N S T E P :                              CLOSING PROBLEM PROPERTIES118 W. 15th                   1432 Vine ...
OTR ACTION STEP:          ACQUIRED AND SECURED VACANT          PROPERTIESBefore:After:
OT R A C T I O N S T E P :          ACQUIRED AND SECURED VACANT          PROPERTIESBefore:After:
OT R : C H A L L E N G E S         Crime Statistics within 3CDC’s Targeted AreaType of Crime    2004    2005      2006    ...
COMPLETEDDEVELOPMENTS:
3CDC
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3CDC

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Ohio Properties Redevelopment Institute Lunch Panel: Developing Urban Projects in Challenging Times

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  • 3CDC

    1. 1. CINCINNATI
    2. 2. OUR MISSION• 3CDC is a non-profit, real estate development and finance organization focused on strategically revitalizing Cincinnati’s downtown urban core in partnership with the City of Cincinnati and the Cincinnati corporate community. Our work is specifically focused on the Central Business District and in Over-The-Rhine.• 3CDC manages The Cincinnati Equity Fund (CEF) and the Cincinnati New Markets Fund (CNMF). These investment funds play an important role by providing financial aid in downtown development activities.
    3. 3. Board MembersAmerican Financial Group *American Modern Insurance GroupCastellini CompanyCincinnati BellCincinnati EnquirerCincinnati USA Regional ChamberCintasConvergys CorporationDeloitteDinsmore & ShohlDuke EnergyFifth Third Bank *First Financial BankGeneral ElectricGlobal NovationsHumanaHuntington BankJack Rouse AssociatesKPMGMacy’s *North American PropertiesPeck, Shaffer & WilliamsPNC BankProcter & Gamble *Scripps InteractiveThe Kroger Company *Towne PropertiesToyota MotorUnited WayUptown ConsortiumU.S. BankWestern & Southern Financial Group * * Fortune 500 Headquartered Companies
    4. 4. CEF/CNMF Cincinnati Equity Fund Cincinnati New Markets FundCincinnati Equity Fund $44.5 millionCincinnati Equity Fund II $50.2 millionCincinnati New Market Fund $50.0 millionCincinnati New Market Fund II $35.0 millionCincinnati New Market Fund III $18.0 millionState New Market Tax Credit $2.0 millionCincinnati New Market Fund IV $50.0 millionTOTAL $249.7 million
    5. 5. I N V E S T M E N T S TO D AT E Over the past 6 years: $163 Million CEF/CNMF investment $122 Million private investment $39 Million City investment(with additional pledge of 16.4 through TIF districts over the next 20 years with a NPV of $7.7 million ) $324 Million Invested in downtown and OTR
    6. 6. UPCOMING INVESTMENTS Over the next 12 months:Mercer Commons - $53.5 Million Paint Building - $4.1 Million OTR Phase V - $23 MillionHomeless to Homes - $25 Million 5 th & Ra c e - $ 1 0 0 M i l l i o n $205.6 Million in additional investments
    7. 7. OVER-THE-RHINE
    8. 8. OVER-THE-RHINE POPULATION DECLINE500004500040000350003000025000 OTR Population20000 OTR Decline15000100005000 0 1900 1960 1980 1990 2000
    9. 9. OVER-THE-RHINE CHALLENGES 500 700 VACANT VACANTBUILDINGS LOTS 1667 VACANT HOUSING UNITS
    10. 10. OTR ACTION STEP:LAND BANKING• CEF/CNMF has invested over $27 million in private funding to land bank properties in the Washington Park section of OTR• 3CDC owns or controls:  200 buildings  169 vacant parcels• Over $700,000 in annual carrying costs
    11. 11. OVER-THE-RHINE CHALLENGES
    12. 12. OVER-THE-RHINE CHALLENGES
    13. 13. OVER-THE-RHINE CHALLENGES
    14. 14. OT R A C T I O N S T E P : CLOSING PROBLEM PROPERTIES118 W. 15th 1432 Vine (Pohlar Bar) 1401 Race (Bang’s) 1412 Vine (Cricket)(Walt’s)1331-35 Vine (AM/PM Market) 20-22 W. 12th (Jordan’s) 3 E. 13th (Albert’s) 1201 Vine (Glossinger’s)
    15. 15. OTR ACTION STEP: ACQUIRED AND SECURED VACANT PROPERTIESBefore:After:
    16. 16. OT R A C T I O N S T E P : ACQUIRED AND SECURED VACANT PROPERTIESBefore:After:
    17. 17. OT R : C H A L L E N G E S Crime Statistics within 3CDC’s Targeted AreaType of Crime 2004 2005 2006 2007 2008 2009 2010 2011 % ChangePart I 1,170 1,160 946 675 671 567 540 583 -50%Part II 603 587 537 510 443 351 341 323 -46%Total 1,773 1,747 1,483 1,185 1,114 918 881 906 -49%
    18. 18. COMPLETEDDEVELOPMENTS:

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