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STATE OF DOWNTOWN CINCINNATI Issued April 2015 IN CLUDING: Downtown Cincinnati Inc. 2014 ANNUAL REPORT 105296_changeA.indd 1 3/26/15 11:42 AM IN TRODUCTION TABLE OF CONTENTS 01INTRODUCTION Partners, About Downtown Cincinnati Inc., About this Report, Letter from the Mayor of the City of Cincinnati, Letter from the Board Chair and President/CEO of DCI 05WORK Dick Waller’s Art Place Lease Transactions, Downtown Development, Employment, Office Inventory, Office Rental and Vacancy Rates 5chw4r7z, Courtesy of 5chw4r7z.blogspot.com 13LIVE Perceptions, Residential Amenities, Safe and Clean, Residential Unit Sales and Prices, Residential Units and Occupancy, Downtown Population 21 P LAY Films, Entertainment, Hotels, New Retail, Retail Composition and Occupancy, Conventions, Walks and Runs 35 A CCESS AND TRANSIT DCI Street Pole Banners Monthly Parking, Public Transit Courtesy of Downtown Cincinnati Inc. 39 D CI 2014 ANNUAL REPORT Highlights and Accomplishments, Marketing and Communications, Safe and Clean, Stakeholder Services, Auditors’ Report, Financial Statements, DCI Board of Directors, DCI Members, Staff Bodies in Urban Spaces 5chw4r7z, Courtesy of 5chw4r7z.blogspot.com SOURCES The data presented in this report is derived from many sources including reports by the media and information collected directly from organizations where available. To provide us with more accurate data on any information contained in this report, to submit your photographs, to request additional information, or to place your name on our e-mail list for future mailings, please send an email to [email protected]. Please visit downtowncincinnati.com for more publications from Downtown Cincinnati Inc. Also visit these websites for additional information on downtown Cincinnati: • • • • 105296_changeA.indd 3 bizjournals.com/cincinnati choosecincy.com cincinnati.com cincinnati-oh.gov • • • • cincinnatichamber.com cincinnatiUSA.com cincyusa.com ilivedowntown.com • myfountainsquare.com • otrchamber.com • soapboxmedia.com 3/26/15 11:42 AM IN T RODUCTION PARTNERS Downtown Cincinnati Inc. thanks the following individuals and organizations for their assistance in compiling this report: CBRE Cincinnati’s arts, culture, sports & entertainment organizations DCI Welcomes City Manager Harry Black Courtesy of Downtown Cincinnati Inc. Cincinnati Business Courier Cincinnati Center City Development Corporation (3CDC) Cincinnati Multiple Listing Service Cincinnati USA Convention & Visitors Bureau Greater Cincinnati & Northern Kentucky Film Commission Cincinnati USA Regional Chamber of Commerce Keep Cincinnati Beautiful Cincy Red Bike Amy Smith City of Cincinnati The Corporation for Findlay Market of Cincinnati Colliers International Downtown Residents Council Enquirer Media University of Cincinnati Economics Center Xceligent, Inc. We are thankful for the generosity of many talented photographers. Credits are provided next to each image, where possible. In addition, we thank the following individuals for their contributions of the cover and header images in this report: Travis Estell: Back Cover, pages 5, 7, 15, 37, 41 Thadd Fiala: Page 13 Jason Haley: Cover Susan Knabe: Page 35 Steve Pittman, Resource Ammirati: Page 39 ABOUT DOWNTOWN CINCINNATI INCORPORATED (DCI) Founded in 1994, DCI is a non-profit organization with a mission to build a dynamic metropolitan center valued as the heart of the region. DCI supports this mission by providing unique services in three areas: safe and clean, marketing and communications, and stakeholder services. The organization is funded by members, sponsors, and by the property owners of the Downtown Cincinnati Improvement District, which includes property within the boundaries of Eggleston Avenue, Central Parkway, Central Avenue, and the Ohio River. DCI provides leadership and information regarding community and development issues, working together with public and private partners to ensure long-term downtown vitality. PG. 1 STATE OF DOWNTOWN REPORT 105296_changeA.indd 4 3/26/15 11:43 AM IN TRODUCTION ABOUT THIS REPORT The State of Downtown Cincinnati (Issued April, 2015) is a compilation of most recently available data pertinent to our stakeholders and visitors: residential; safety and cleanliness; development, office and employment; retail and restaurants; convention and hotels; arts, culture and entertainment; plus access and parking. This year’s report features new information about residential amenities, downtown charity walks and runs, and public transportation. The DCI Annual Report provides an overview of the organizational accomplishments of Downtown Cincinnati Inc. during 2014 for each area of service: Safe and Clean, Communications and Marketing, and Stakeholder Services. Financial statements, board, staff, and member lists are also provided. Please visit downtowncincinnati.com to download a copy of this report and to find more content on information presented here. We hope you enjoy reading the report, and we welcome your questions and comments. “ Cincinnati itself is a rambling mass of old construction and modern ideas...Cincinnati seems to welcome the change, without discarding its past. Fountain Square —“Style Across America: Touching Down in Cincinnati,” Esquire ” Courtesy of Downtown Cincinnati Inc. STATE OF DOWNTOWN REPORT 105296_changeA.indd 5 PG. 2 3/26/15 11:43 AM IN T RODUCTION Dear Downtown Cincinnati Inc., “ One of the big stories of the past few years has been the striking resurgence of cities, with Cincinnati ranked as one of the Top Five Up-and-Coming Downtowns. ” –Fortune Throughout 2014, I have been excited about the great strides that have been made downtown, from welcoming Pure Romance, Jedson Engineering, Zipscene and other businesses to the urban core to the continued growth of our nationally recognized restaurant scene. This past year, we welcomed the National Urban League Conference and the International Association of Fire Fighters Convention to Cincinnati. They and many other visitors experienced an incredibly vibrant and active city. In 2015, we will welcome baseball fans from around the world to Cincinnati, sharing with them our beautiful natural assets along the river and in our parks, along with our historic architecture, great music and nightlife, and our exciting arts and cultural institutions. They will see what we see every day – an All-Star City ideal for those who want to start a business, make a home and thrive in the 21st century. Through the efforts of great partners like DCI, the renaissance in downtown and Over-the-Rhine has set an example of success for other neighborhoods in Cincinnati and for cities across the nation. I look forward to another year of collaboration and growth in our city. John J. Cranley Mayor City of Cincinnati DCI Honorary Board Chair PG. 3 105296_changeA.indd 6 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM IN TRODUCTION Dear Stakeholders, 2014 was another incredible year for downtown Cincinnati. The city center gained national attention for urban development, innovative restaurants, and world-class arts organizations. Cincinnati was hailed as friendly for small businesses, retirees, and cyclists. It seems the rest of the world is starting to catch on to something we’ve known all along – Cincinnati is a great place to live, work, and play. It takes great partners and organizations, employing as Mayor Cranley says, “Hard work and great effort” over a sustained period of time to produce such results. We are proud of our role in safe/clean, marketing/communications, stakeholder services and leadership/advocacy which provide a solid foundation for progress. Through our experience on the International Downtown Association, we work with colleagues from around the country and the world. Our job is more enjoyable than any, because of the positive spirit of collaboration in Cincinnati. All of us at Downtown Cincinnati Inc. (DCI) are deeply appreciative of your support, partnership, and passion for downtown. This was a year of great progress and growth. We worked with outstanding new leaders led by Mayor John Cranley (honorary DCI Board Chair), City Council, new City Manager Harry Black and his administration, the Hamilton County Commissioners led by President Chris Monzel, and the county administration led by Christian Sigman. We have been privileged to work with great partners in the work to keep downtown safe – Cincinnati Chief of Police Jeffrey Blackwell, Sheriff Jim Neil, and Captain Mike Neville. Alecia Kintner, president and CEO at ArtsWave, and others. We are grateful for the partnerships with their predecessors and look forward to new opportunities and great collaborations. As we look forward to 2015, we are excited about great events like Major League Baseball’s All-Star Game in July and helping to prepare downtown for the 2016 NAACP National Convention. We look forward to working with many energized new property owners and businesses and with our colleagues at 3CDC. We are thankful for the guidance of the DCI Board and the Downtown Cincinnati Improvement District Board under the leadership of Bill Moran. They provide us with direction, wisdom, and support. As DCI moves into its 21st year, we have seen the interest and engagement in our center city grow as downtown gets better and better. We are honored to play a role. David N. Ginsburg Jill P. Meyer President and Chief Executive Officer Downtown Cincinnati Inc. Board Chair Downtown Cincinnati Inc. Frost Brown Todd LLC This year, we welcomed new partners such as Brian Carley, president and CEO of the Cincinnati USA Regional Chamber, Dwight Ferrell, CEO at Metro, STATE OF DOWNTOWN REPORT 105296_changeA.indd 7 PG.4 3/26/15 11:43 AM WORK Downtown Cincinnati celebrated $176 million of investment in projects completed in 2014, including the conversion of the former Bartlett Building into the beautiful Renaissance Cincinnati Downtown Hotel. Almost $680 million in additional projects are currently under construction downtown, many expected to open in 2015. PricewaterhouseCoopers and the Cincinnati USA Regional Chamber of Commerce moved to new downtown offices. Cincinnati Bell expanded their offices and General Electric arrived downtown, leasing space in Atrium Two. Seven at Broadway, dunnhumby Centre, Homewood Suites and Hampton Inn Suites, AT580, and Smale Riverfront Park will open their doors to more visitors, workers and residents of downtown in the coming year. 105296_changeA.indd 8 3/26/15 11:43 AM WORK LEASE TRANSACTIONS Major office lease transactions included expansions to new downtown space by Cincinnati Bell, Huntington Bank, and Western & Southern. General Electric, with plans to build its global operations center at The Banks, was among companies that made new commitments to the urban core, while businesses like the Cincinnati USA Regional Chamber of Commerce relocated their downtown offices. Company Location Sq. Ft. Type Cincinnati Bell Atrium Two 220,000 Expansion General Electric Atrium Two 80,000 New Huntington Bank 525 Vine Street 49,488 Relocation Cincinnati USA Regional Chamber of Commerce Three East Fourth Street 39,575 Relocation PricewaterhouseCoopers, LLC PNC Center 30,595 Relocation Western & Southern Financial Group 303 Broadway at Queen City Square 28,928 Expansion Western & Southern 303 Broadway at Queen City Square 23,382 Expansion ORC International The Edge 18,000 Relocation Hamilton County Public Defender 125 East Court Street 15,300 Expansion Wells Fargo Sawyer Point Building 15,000 Relocation Champlin Architecture Sawyer Point Building 13,504 Relocation Accenture, Inc. Omnicare Center 12,885 Renewal Daymon Worldwide 125 East Court Street 12,500 Relocation Online Rewards Carew Tower 12,500 Relocation McGladrey, LLP First Financial Center 12,487 New Mellott & Mellott, P.L.L. Certified Public Account Scripps Center 11,423 Relocation US Bank US Bank Tower 10,100 Expansion Dressman Benzinger LaVelle Atrium Two 10,000 Relocation Gaslight LLC The Pinger Building 9,000 New Marshall Dennehey Warner Coleman & Goggin, P.C. 312 Elm Street 7,292 New Government Acquisitions Sawyer Point Building 6,351 Relocation BDO Atrium Two 6,000 New LKAB Minerals Scripps Center 5,712 Relocation Source: Xceligent, Inc. Note: Listed are the top leases signed in the CBD in 2014, according to square feet. Start dates of occupancy vary. For purposes of this report ‘New’ = New to downtown; ‘Relocation’ = Relocation from an existing downtown space; ‘Expansion’ = Expansion of existing space or the combining of multiple locations into one space. STATE OF DOWNTOWN REPORT 105296_changeA.indd 9 PG.6 3/26/15 11:43 AM WORK DOWNTOWN DEVELOPMENT Broadway Square, Mabley Place, Renaissance Cincinnati Downtown Hotel, Mercer Commons, and the Woodward Theater contributed to $176 million in downtown Cincinnati development last year. Over one billion dollars of additional downtown investment is in the pipeline with under construction and proposed projects reported by year-end 2014. 47 21 51 38 17 1 33 36 32 28 11 37 15 7 23 3 13 49 6 24 43 48 8 19 29 50 35 10 52 39 41 2 40 12 44 25 22 16 14 20 42 18 5 34 4 9 45 46 30 31 26 27 PG. 7 STATE OF DOWNTOWN REPORT 105296_changeA.indd 10 3/26/15 11:43 AM WORK $176M $679M $333M Central Business District Over-The-Rhine Completed Projects Under Construction Projects Proposed Projects UNDER CONSTRUCTION Project Name Address TypeInvestmentCompletion/ ($M) Anticipated Completion 1 1500 Elm Street 1500 Elm Street RES $4.20 2014 Broadway and 12th Streets RES $12.20 2014 2 Broadway Square Phase I 3 Emanuel Community Church 1308 Race Street OFF $2.50 2014 550 Main Street OFF $34.00 2014 4 John Weld Peck Federal Building 5 Mabley Place Fourth and Race Streets MIX $5.00 2014 6 Mercer Commons Phases I and II Vine, between 13th and 14th Streets MIX $49.00 2014 7 Park Haus Scattered RES $7.80 2014 26 and 28 West 13th Street MIX $1.50 2014 8 Park West 9 Renaissance Cincinnati Downtown Hotel 36 East Fourth Street CEE $50.00 2014 1404 Main Street CEE $1.20 2014 10 The Woodward Theater 11 Westfalen Lofts II 1426-1438 Race Street MIX $8.60 2014 12 1201 Walnut 13 15 West 14th 14 AT580 15 Beasley Place 16 CAC Lobby Renovation 17 Chatfield College 18 Cincinnati Streetcar 19 Cintrifuse 20 dunnhumby Centre 21 Globe Building 22 Homewood Suites and Hampton Inn and Suites 23 Mercer III Townhomes 24 Parksite 25 Seven at Broadway 26 Smale Riverfront Park (Phase 3-4) 27 Smale Riverfront Park (Phase 5) 28 Taft’s Ale House 29 Tea Company Townhomes 30 The Banks (Phase II A) 31 The Banks (Phase II B) 32 The Olson 33 The Osborne 34 Westin Hotel Renovation 35 YMCA 1201 Walnut Street 15 West 14th Street 580 Walnut Street 1405 Republic Street 44 East Sixth Street 1544 Central Parkway CBD and OTR 1311-1315 Vine Street Fifth and Race Streets 1801-1805 Elm Street PRE-DEVELOPMENT/PROPOSED COMPLETED Pendleton 36 15th and Race 37 15th and Vine 38 Abington Flats 39 Alumni Lofts 40 Broadway Square Phase II 41 Cutter Apartments 42 Fourth and Race 43 Hogan Building 44 Holiday Inn Hotel 45 Lytle Park Renovation 46 Lytle Tunnel Renovation 47 Market Square at Findlay Market 48 Memorial Hall 49 Music Hall Revitalization 50 The Transept 51 Warner Brothers Building 52 Ziegler Park 15th and Race Streets 1425 - 1437 Vine and Five West 15th Street 33 Green Street 1310 Sycamore Street Scattered Site, Broadway, 12th Street and 13th Street Scattered Site, Broadway, 12th Street and 13th Street 411 Race Street 1317 and 1319 Republic Street Broadway and Seventh Streets Lytle Park Lytle Park and I-71 1800 block of Race Street 1225 Elm Street 1243 Elm Street 1205 Elm Street 1600 Central Parkway Sycamore Street between 13th and 14th Streets MIXN/A TBD MIXN/A TBD RES $4.00 2016 RES $24.00 2016 MIX $11.60 2016 RES $5.50 2015 MIX $77.30 TBD RES $1.50 2015 CEE $14.00 2016 ACC $6.00 2017 ACC $31.60 2017 MIX $18.50 2016 CEE $7.80 2016 CEE $125.00 2017 CEE $4.70 2015 OFF $1.00 2016 CEEN/A TBD MIX = Mixed Use N/A = Not available ACC = Access & Parking CEE = Cultural/Entertainment/Educational $7.14 $1.05 $40.00 $2.80 $1.10 $3.40 $148.00 $16.70 $139.73 $4.60 2015 2015 2015 2015 2015 2015 2016 2015 2015 2015 617 Vine Street CEE $37.00 10-26 Mercer Street MIX $5.45 1316-1318 Race Street RES $3.60 Seventh and Broadway Streets RES $22.30 Riverfront CEE $25.40 Riverfront CEE $15.00 1429 Race Street CEE $9.60 18-20 West 13th Street, 1307 Republic Street MIX $3.10 The Banks MIXN/A The Banks OFFN/A 1408 Elm Street MIX $1.74 118 and 122 West 15th Street and 1509 Pleasant Street MIX $3.61 21 East Fifth Street CEEN/A 1105 Elm Street MIX $27.50 2015 2015 2015 2015 2015 2015 2015 2015 2016 2016 2015 2015 2015 2016 OFF = Office MIX CEE MIX RES CEE CEE ACC MIX MIX MIX RES = Residential TBD = To be determined Source: Data collected from media sources and reports from developers, when available Note: Includes projects with an estimated investment amount of $1 million or more that are completed, under construction or proposed as of year-end 2014. Mixed Use (MIX) categorizes developments with multiple uses, for instance, a building with retail on the ground floor, and office or residential above. STATE OF DOWNTOWN REPORT 105296_changeA.indd 11 PG. 8 3/26/15 11:43 AM WORK EMPLOYMENT The expansion of Cincinnati Bell, the downtown relocation of the regional headquarters of Huntington Bank, and the arrival of companies new to downtown such as General Electric, BDO, McGladrey, and Gaslight, contributed to a total estimated work force in downtown of 65,000.* Zipscene, Rhinegeist, and dunnhumbyUSA added employees to their growing staffs. DOWNTOWN CINCINNATI FORTUNE 1000 COMPANIES The Kroger Company (No. 24) Procter & Gamble (No. 31) Macy’s, Inc. (No. 107) Fifth Third Bancorp (No. 361) Omnicare (No. 415) American Financial Group, Inc. (No. 487) Western & Southern Mutual Holding Company (No. 511) Convergys Corporation (No. 958) “ Not only is Cincinnati home to some of the bigger Fortune 500 companies out there (think Procter & Gamble and Macy’s), but it has low taxes and a strong feeling of entrepreneurship. —“You Might Be Living In the Next Silicon Valley,” Huffington Post and Citi ” Urban Sites Offices Travis Estell *According to a report prepared for Colliers by ESRI for zip code 45202, year 2014. PG. 9 105296_changeA.indd 12 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM WORK OFFICE INVENTORY Colliers International reported a total office space inventory in downtown Cincinnati, including owner-occupied offices, of 18,750,000 square feet in 2014, with some large properties having been converted for hotel or residential use in recent years. Downtown offices leased for $19.18 per square foot on average, with a positive net absorption in 2014. 2014 DOWNTOWN OFFICE INVENTORY Inventory: 6,802,968 sq. ft. Inventory: 9,508,320 sq. ft. Inventory: 2,258,761 sq. ft. CLASS A CLASS B CLASS C $23.29 per sq. ft. $16.31 per sq. ft. $12.76 per sq. ft. Net Absorption: 147,259 sq. ft. Net Absorption: (44,960) sq. ft. Net Absorption: (76,969) sq. ft. Occupied Vacant 2014 REGIONAL OFFICE INVENTORY Blue Ash CBD CBD - Periphery East I-71 Corridor North (of I-275) I-75 Corridor North (of I-275) Kenwood/Montgomery Midtown Northern KY Riverfront Northern KY Tri-County West Inventory of Rentable Sq. Ft. Vacancy Rate Average Rental Rate 2013 Net Absorption 5,355,542 13.03% $16.58 (21,735) 18,749,61315.09%$19.18 25,330 4,242,950 22.85% $18.22 (1,023) 3,415,47711.89%$13.21 68,605 5,435,307 12.19% $16.33 176,976 2,527,564 4.80% $19.40 (8,424) 2,299,720 8.24%$16.06 13,918 5,210,579 11.22% $19.45118,063 2,499,366 27.37% $21.35 54,909 6,841,040 14.48% $18.13 98,693 7,344,91920.74%$14.88 2,241 1,314,23811.85%$15.13 63,696 Source: Colliers International, Cincinnati Office STATE OF DOWNTOWN REPORT 105296_changeA.indd 13 PG. 10 3/26/15 11:43 AM WORK OFFICE RENTAL RATES The average rental rate for Class A property in downtown Cincinnati in 2014 was $23.29 per square foot. Class B and Class C properties were leased on average for $16.31 and $12.76 per square foot, respectively. The rental rates for Class A property in the business districts of Nashville, Pittsburgh, Atlanta, and Cleveland were comparable to rates reported in Cincinnati in 2014. OFFICE RENTAL RATES $23.29 CBD CLASS A Average Regional Rental ALL Classes* $17.92 CBD CLASS B $16.31 CBD CLASS C $12.76 “ General Electric Co. is about to strengthen its ties to downtown Cincinnati in the latest sign that urban centers in the Rust Belt are becoming more attractive to U.S. corporations. —“A Power Surge in the Rust Belt,” Wall Street Journal ” $20 $15 $10 2010 2014 U.S. RENTAL RATES: DOWNTOWN CLASS A OFFICE $25 I I I 2014 New York City (Midtown) $76.65 $62.00 San Francisco Washington, DC $54.53 Boston$50.98 Chicago$40.30 $39.76 Los Angeles Denver$34.35 Portland$27.01 Raleigh/Durham$26.35 Pittsburgh$25.94 Nashville$23.63 Detroit$23.32 Cincinnati$23.29 Atlanta$22.16 Cleveland$22.13 Baltimore$21.26 Columbus$19.58 $19.10 Grand Rapids Indianapolis$18.95 $17.69 St. Louis Minneapolis$17.37 Source: Colliers International, Cincinnati Office, “Office Market Outlook, Q4 2014” PG. 11 105296_changeA.indd 14 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM WORK OFFICE VACANCY RATES Office space vacancy rates in downtown Cincinnati in 2014 decreased from the previous year to an average of 15%. Similarly, the U.S. Central Business District, the Cincinnati suburban, and the U.S. suburban office markets have experienced an overall decline in vacancy since 2010. OFFICE VACANCY RATES 25% Cincinnati CBD 15.1% 15.0% Cincinnati Suburban 15% US Suburban 13.8% 11.7% US CBD 2010 2014 U.S. VACANCY: DOWNTOWN CLASS A OFFICE “ This is a particularly good time to move to downtown Cincinnati… during the past three years, several corporate tenants have relocated to the downtown area. —Midwest Real Estate Journal ” 20% I I I 10% 2014 Los Angeles 19.5% Cleveland17.1% Detroit16.6% Atlanta16.1% St. Louis 15.9% 15.7% Grand Rapids Cincinnati15.1% Baltimore13.2% Minneapolis12.2% Chicago11.9% Nashville11.6% Boston10.9% Denver10.7% 10.7% New York City (Midtown) Washington, DC 10.6% Indianapolis9.5% Columbus9.4% Pittsburgh9.2% Portland8.6% 7.5% San Francisco Raleigh/Durham4.8% Source: Colliers International, Cincinnati Office, “Office Market Outlook, Q4 2014” STATE OF DOWNTOWN REPORT 105296_changeA.indd 15 PG. 12 3/26/15 11:43 AM LIVE Downtown Cincinnati is evolving and thriving as a residential neighborhood. Occupancy of residential rental properties estimated at 96% and increasing sale prices for homes and condominiums reflect the growing interest in a downtown lifestyle. Over 700 new residential units are currently under construction with Seven at Broadway, AT580, and Mercer Townhomes scheduled to open in 2015. Perceptions and statistics show that residents and visitors experience downtown as safe and clean. Retailers and developers are providing more amenities for residents, including dog parks and pet supply stores to meet the needs of their four-legged friends. 105296_changeA.indd 16 3/26/15 11:43 AM LIV E PERCEPTIONS An annual survey conducted by Downtown Cincinnati Inc. indicates positive perceptions of downtown Cincinnati among residents and visitors. In 2014, 86% of survey respondents said downtown is somewhere they like to take out-of-town guests, 85% said downtown has a variety of entertainment options, 74% agreed it is clean, and 70% felt downtown is safe. PERCEPTIONS OF DOWNTOWN 100% A PLACE TO TAKE OUT-OF-TOWN GUESTS OVERALL POSITIVE IMPRESSION SAFE OVERALL CLEAN OVERALL AMBASSADORS ARE VISIBLE POLICE ARE VISIBLE 0% GAY FRIENDLY Survey respondents with favorable ratings WELCOMING TO ALL RACES/ETHNICITIES 20% FAMILY FRIENDLY 40% IS WALKABLE 60% VARIETY OF ENTERTAINMENT OPTIONS 80% “ As much of America decamped for the suburbs or the coasts, artists, craftspeople, and entrepreneurs rebuilt entire Cincinnati neighborhoods alongside impassioned longtimers. Their heritage (rich) and their living costs (relatively cheap) have attracted interest… But Cincinnati stands out. —National Geographic Traveler ” Source: 2014 Perceptions Survey conducted by LaVerdad Marketing & Media for Downtown Cincinnati Inc. For more information, visit downtowncincinnati.com. STATE OF DOWNTOWN REPORT 105296_changeA.indd 17 PG. 14 3/26/15 11:43 AM LIV E RESIDENTIAL AMENITIES As the downtown Cincinnati population grows, businesses develop to meet the needs of residents. Corner markets like Sunshine Fine Food Deli, public markets like Findlay Market and the seasonal Strauss Troy Market on Fountain Square, and the Kroger store in Over-the-Rhine provide grocery amenities within walking distance as demand builds for additional options. LEGEND: Department Stores Dry Cleaners Food/Grocery Home Goods Pet Amenities Pharmacy Wine/Spirits Note: For a complete list of residential amenities, visit downtowncincinnati.com PG. 15 105296_changeA.indd 18 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM LIV E SAFE AND CLEAN There were six percent fewer serious crimes in the Central Business District in 2014 than the previous year and “quality of life” crimes dropped by 15%.* Over-the-Rhine has also experienced a decrease in crime in recent years. Keep Cincinnati Beautiful, which performs litter indices, reported positive ratings for these downtown neighborhoods in 2014. CENTRAL BUSINESS DISTRICT CRIME 2,000 1,500 1,075 1,000 500 396 PART 1 CRIME** PART 2 CRIME 0 2010 I I 2014 I OVER-THE-RHINE CRIME 2,000 1,500 917 1,000 628 500 PART 1 CRIME** PART 2 CRIME 0 2010 I I I 2014 “ Long known for its industrial past, the city is getting new life from craft breweries, bold new restaurants, and a major neighborhood transformed. ” —New York Magazine *Source: Cincinnati Police Department Note: Part 1 crimes are defined as more serious crimes, but include crimes such as shoplifting in which no use of force or violence occurs; Part 2 crimes are defined as “quality of life” crimes, which include aggressive panhandling and vandalism. **Theft from autos were 29% of Part 1 crimes in the Central Business District and 24% of Part 1 crimes in Over-the-Rhine in 2014. STATE OF DOWNTOWN REPORT 105296_changeA.indd 19 PG.16 3/26/15 11:43 AM LIV E RESIDENTIAL UNIT SALES With demand increasing for the opportunity to own a home in downtown Cincinnati, condominium and single family home sales in 2014 continued at a rate consistent with availability in the downtown real estate market. Condominium sales in Over-the-Rhine have increased steadily as redeveloped housing has become available in recent years. CENTRAL BUSINESS DISTRICT 50 45 40 30 35 30 25 20 15 10 1 Condominiums Single Family Homes 5 0 2010 I I I OVER-THE-RHINE 2014 93 100 90 80 70 60 50 40 30 14 20 10 Condominiums Single Family Homes 0 2010 I I I 2014 PENDLETON 9 8 7 7 6 5 4 3 3 2 1 Condominiums Single Family Homes 0 2010 I I I 2014 Source: Cincinnati Multiple Listing Service (MLS) PG. 17 105296_changeA.indd 20 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM LIV E RESIDENTIAL UNIT PRICES The sale of a residence on West Ninth Street drove the average sale price of single family homes in the Central Business District to $675,000 last year. The average cost of a condominium in Over-the-Rhine has been increasing annually, reaching over $250,000, while single family homes in Pendleton have been on the rise, averaging $306,667 in 2014. CENTRAL BUSINESS DISTRICT $800,000 $320,760 $675,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Condominiums Single Family Homes 2010 I I $0 2014 I OVER-THE-RHINE $350,000 $300,000 $224,222 $250,043 $250,000 $200,000 $150,000 $100,000 $50,000 Condominiums Single Family Homes $0 2010 I I 2014 I $350,000 $261,170 $306,667 PENDLETON $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 Condominiums Single Family Homes $0 2010 I I I 2014 Source: Cincinnati Multiple Listing Service (MLS) STATE OF DOWNTOWN REPORT 105296_changeA.indd 21 PG. 18 3/26/15 11:43 AM LIV E RESIDENTIAL UNITS AND OCCUPANCY There were an estimated 8,350 total residential units in the Central Business District, Overthe-Rhine, and Pendleton in 2014, according to CBRE. Developers reported projects with an additional 703 units under construction by year-end. Central Business District rental developments continued to report 96% occupancy and an average rent of $1.48 per square foot. DOWNTOWN RESIDENTIAL UNITS* 8,350 703 COMPLETED UNITS UNDER CONSTRUCTION Central Business District Over-The-Rhine Pendleton DOWNTOWN RENTAL PROPERTIES Total Number of Properties Surveyed Total Number of Units Surveyed Average Number of Units/Property Weighted Occupancy Average Rent/Unit Average Rent/Sq. ft. 11 1,639 149 96.0% $1,325.00 $1.48 Source: CBRE *Completed Units estimate reflects a change in methodology from previous reports. Prepared for CBRE by Nielsen in February 2015, estimated housing unit estimates are for the areas of the Central Business District, Over-the-Rhine, and Pendleton. Rental property data is provided by CBRE in a year-end survey of the multifamily investment market, reported January 2015. PG. 19 105296_changeA.indd 22 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM LIV E DOWNTOWN POPULATION Demographic estimates for residents of downtown Cincinnati portray a growing urban community in which the average age is 38 years old, 75% of the population is single, 75% hold white collar jobs, over 33% have attained an advanced educational degree, and 18% walk to work. There were over 15,500 residents estimated to live in zip code 45202 in 2014, according to CBRE. DOWNTOWN DEMOGRAPHICS Race White52% Black 43% Hispanic 3% Asian 2% Education High School Bachelor’s Degree Master’s Degree 24% 20% 13% Marital Status Single men Single women Married men and women 47% 28% 25% Household size One person Two persons Three or more persons 60% 26% 14% Transportation to Work Drove alone 56% Walked18% Public transportation 12% Job Type White collar Service & Farm Blue Collar 75% 16% 9% 38 Average Age Zip Code 45202 Average Household Income $59,851 Source: CBRE *Population estimate reflects a change in methodology from previous reports. Prepared for CBRE by Nielsen in January 2015, population and demographic estimates are for residents of Zip Code 45202. STATE OF DOWNTOWN REPORT 105296_changeA.indd 23 PG. 20 3/26/15 11:43 AM PLAY The Betts House, Broadway in Cincinnati, Cincinnati Museum Center, Washington Park, Black Family Reunion, Bockfest, Cincy Cinco, and community festivals Go OTR 5K Summer Celebration and Second Sundays on Main attracted growing audiences who contributed to an overall attendance of more than 17 million at downtown entertainment venues. The Woodward Theater on Main Street opened its doors to indie music lovers and the new Buckle Up Music Festival entertained 45,000 country music fans. Close to 50 new downtown restaurant, retail and service establishments opened, while over 165,000 participants in charity events experienced downtown on the run. Downtown Cincinnati will hit the big screen this year as movies “Carol” and “Miles Ahead” open in theaters across the country. 105296_changeA.indd 24 3/26/15 11:43 AM PL AY FILMS Major motion picture productions resulted in the employment of at least 4,028 workers and a total economic impact on the Cincinnati MSA of $45.9 million in 2014.* Downtown Cincinnati was the set for much of the filming, as well as host to the casts and crews, of “Carol,” “Miles Ahead,” “Blunderer,” “Echo Effect,” and an A&E reality series featuring Lachey’s Bar. “ Filming portrays Cincinnati to a national community. Production people come here from all over the county and they become ambassadors for the City. —Michel Sheer, Managing Director of Hilton Cincinnati Netherland Plaza ” Don Cheadle in “Miles Ahead” Brian Douglas “ Discovering Cincinnati was the key to unlocking our production of ‘Carol’. I don’t believe we could have made the film anywhere else. The city presented us with unparalleled period exterior and interior locations in both the rural and urban environs we needed to fulfill our director Todd Haynes’ vision for the movie. We were able to film the whole production within a confined radius of our downtown office hub... “Miles Ahead” Movie Crew Brian Douglas —Elizabeth Karlsen, Producer, “Carol” ” Source: University of Cincinnati Economics Center report for the Greater Cincinnati and Northern Kentucky Film Commission *Economic impact estimate based on productions of “Carol,” “Miles Ahead,” and “Renovation Row” STATE OF DOWNTOWN REPORT 105296_changeA.indd 25 PG.22 3/26/15 11:43 AM PL AY ENTERTAINMENT Downtown entertainment venues reported an overall annual attendance of nearly 17 million visitors in 2014. With unique, collaborative programming such as Lumenocity, Washington Park welcomed one million visitors throughout the year. Broadway in Cincinnati, the Midwest Regional Black Family Reunion, and The Betts House increased their audiences by 50% over the previous year. MOST VISITED 1 million to 5 million Horseshoe Casino Cincinnati Reds Cincinnati Museum Center 3,480,000 2,476,664 1,246,000 1,190,258 Main Library/Public Library of Cincinnati & Hamilton County 1,090,000 Findlay Market 1,000,000 Washington Park HIGHLY ATTENDED 100,000 TO 999,999 Riverfront Daily Park Users Cincinnati Bengals Oktoberfest Zinzinnati US Bank Arena “ The largest Oktoberfest in the U.S., Oktoberfest Zinzinnati takes over downtown Cincinnati with over 500,000 attendees annually. —“America’s Best Oktoberfests,” Fodor’s ” Taste of Cincinnati Riverfront Events/Cincinnati Park Board 800,000 722,065 650,000 572,421 550,000 395,530 267,370 Broadway in Cincinnati 253,813 CSO/Cincinnati POPS/Lumenocity Riverfest 250,000 200,000 PNC Summer Music Series 183,500 Cincinnati Arts Association 176,530 Cincinnati Art Museum 171,618 Krohn Conservatory 166,875 Cincinnati Playhouse in the Park 156,026 Taft Theatre Source: Attendance reported by venues and event organizers PG. 23 STATE OF DOWNTOWN REPORT 105296_changeA.indd 26 3/26/15 11:43 AM PL AY MIDSIZE 20,000 TO 99,999 National Underground Railroad Freedom Center 82,411 Children’s Theatre of Cincinnati 82,401 Bunbury Music Festival “ Bunbury raises the city’s profile by recruiting a mixture of beloved headliners and exciting up-andcomers…the festival has become a regional favorite in only a few short years. —“10 Summer Music Festivals Worth Knowing,” Forbes ” LOCAL FAVORITES 1,000 TO 19,999 Cincinnati Ballet 65,000 59,391 Taft Museum of Art 52,222 51,251 Cincinnati Shakespeare Company U.S. Bank Ice Rink 50,000 48,107 Contemporary Arts Center Buckle Up Music Festival 45,000 Ensemble Theatre Cincinnati 31,201 Memorial Hall 30,000 Cincinnati Opera 28,488 MidPoint Music Festival 27,000 Bockfest 25,000 Macy’s Light Up the Square 25,000 Cincinnati Brew Ha-Ha 20,000 Black Family Reunion 19,000 Macy’s Downtown Dazzle 15,000 Huntington Bank New Year’s Blast 15,000 11,500 Cincy Cinco 11,000 Second Sundays on Main 10,172 Cincinnati May Festival 9,583 School for Creative & Performing Arts 8,777 Cincinnati Fringe Festival 7,501 Know Theatre of Cincinnati 7,269 Fire Museum of Greater Cincinnati 6,000 Go OTR 5K Summer Celebration 5,000 Bluesfest 3,900 Macy’s Art Sampler (hosted by Artswave) 3,757 Mercantile Library 2,116 The Betts House 1,236 Lloyd Library STATE OF DOWNTOWN REPORT 105296_changeA.indd 27 PG. 24 3/26/15 11:43 AM PL AY HOTELS The redevelopment of the former Bartlett Building into the Renaissance Cincinnati Downtown Hotel added 323 rooms for a current total of 3,295 rooms and ten full-service hotels in downtown Cincinnati. DOWNTOWN HOTELS Westin Hotel Cincinnati The Symphony Hotel The Cincinnatian Hotel Hilton Cincinnati Netherland Plaza 456 6 Renaissance Cincinnati Downtown Hotel 323 The Residence Inn Cincinnati Downtown 132 146 3,295 Rooms 561 Hyatt Regency Cincinnati 491 156 Garfield Suites Hotel 152 21c Museum Hotel 872 Millenium Hotel Cincinnati “ 21c Museum Hotel ranked #1 Hotel In the Midwest in the 2014 Readers’ Choice Awards. Metropole ranked #12 on the list of 15 Best Restaurants in the Midwest. —Condé Nast Traveler ” 21c Museum Hotel Lobby Courtesy of Downtown Cincinnati Inc. PG. 25 STATE OF DOWNTOWN REPORT 105296_changeA.indd 28 3/26/15 11:43 AM PL AY HOTEL OCCUPANCY 100% National 80% Cincinnati USA (OH-KY-IN) 64% Downtown 60% 59% 59% 60% Gr. Cincinnati 40% 20% 0% 2010 I I 2014 I HOTEL ROOM RATES $160 $144 Downtown $140 National Gr. Cincinnati $115 Cincinnati USA (OH-KY-IN) $100 $120 $100 $93 $80 2010 I I 2014 I HOTEL REVPAR* $100 Downtown $84 National $74 $80 Gr. Cincinnati $60 Cincinnati USA (OH-KY-IN) $59 $56 2010 I I I $40 2014 Source: Hotel occupancy and rates provided by Cincinnati USA Convention & Visitors Bureau *RevPAR, or revenue per available room, is a performance metric in the hotel industry, calculated by multiplying a hotel’s average daily room rate (ADR) by its occupancy percentage. STATE OF DOWNTOWN REPORT 105296_changeA.indd 29 PG. 26 3/26/15 11:43 AM PL AY NEW RETAIL Close to 50 new retail, restaurant, and service establishments opened downtown in 2014 including a meeting space, a men’s grooming accessories store, a pretzel shop, three new pizzerias, a juice bar, a high-end electronics store, a primary care doctor’s office, a frankfurtary, and a boxing gym where patrons can learn how to throw a punch and stay fit. 43 38 4 28 41 45 1 42 31 22 26 3 16 12 36 18 15 35 17 10 9 11 23 32 27 39 13 8 2 30 5 46 20 LEGEND: 34 21 14 Dining 19 Shopping Services 47 37 7 29 6 44 25 33 40 24 Note: For a complete list of downtown retail establishments, visit downtowncincinnati.com. PG. 27 105296_changeA.indd 30 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM PL AY 2014 NEW DOWNTOWN CINCINNATI ESTABLISHMENTS DINING “ For the fifth consecutive year, Orchids at Palm Court was recognized by OpenTable as one of the Top 100 Restaurants in the U.S., named #7 Best Restaurant in 2014. —OpenTable ” SHOPPING SERVICES 1 BoBa Cha 1606 Main Street 2 Brainstorm 815 Main Street 3 Brezel 6 W. 14th Street 4 Cake Rack Bakery 113 W. Elder 5 Cheapside Cafe 326 E. Eighth Street 6 D. Burnham’s 36 E. Fourth Street 7 Domino’s 401 Race Street 8 Dunkin Donuts 125 E. Court Street 9 Gomez Salsa 107 E. Twelfth Street 10 Goodfellas Pizzeria 1211 Main Street 11 HalfCut 1128 Walnut Street 12 Happy Belly 1344 Vine Street 13 Huit Craft BBQ 29 E. Court Street 14 Kiji 126 E. Sixth Street 15 Krueger’s Tavern 1211 Vine Street 16 Liberty’s Bar & Bottle 1427 Main Street 17 Macaron Bar 1206 Main Street 18 Off the Vine Juice Bar 1218 Vine Street 19 Pi Pizzeria 199 E. Sixth Street 20 Rusconi Pizza 126 W. Sixth Street 21 Spare Lounge 35 E. Seventh Street 22 Sweet Petit Desserts 1407 Vine Street 23 Subway 1123 Sycamore Street 24 The Blind Pig 25 W. Ogden Place 25 The Hearth Room 125 E. Fourth Street 26 The Mercer OTR 1324 Vine Street 27 The President’s Room 812 Race Street 28 Wienerwurst Mike Frankfurtary 1310 Moore Street 29 Bang & Olufsen 6 W. Fourth Street 30 Black Owned 822 Elm Street 31 Cincy Shirts 1435 Main Street 32 Dick Waller’s Art Place 130 W. Court Street 33 G. Salzano’s 201 E. Fourth Street 34 Heiba Haven 608 Main Street 35 Homage 1232 Vine Street 36 Hoop & Needle 1415 Main Street 37 Hustler Express 411 Elm Street 38 Maverick Chocolate 129 Elder Street 39 Rooster 923 Vine Street 40 Roosters Men’s Grooming 301 E. Fourth Street 41 Wiesnkoenig USA 1621 Moore Street 42 Zuri Handmade 1419 Vine Street 43 BRIDEface 2009 Elm Street 44 Hoxworth Blood Center 105 E. Fourth Street 45 Red Bike 14 W. Fifteenth Street 46 The Punch House 708 Walnut Street 47 UC Primary Care 425 Walnut Street STATE OF DOWNTOWN REPORT 105296_changeA.indd 31 PG. 28 3/26/15 11:43 AM PL AY RETAIL COMPOSITION AND OCCUPANCY DOWNTOWN RETAIL OCCUPANCY* 3,500,000 95.5% 2,785,723 3,000,000 Square Feet There were nearly 590 retail establishments in all of downtown Cincinnati in 2014. According to CBRE, retail spaces in the Central Business District were occupied at a rate of almost 96%, with sales per square foot averaging $124 and average rent per square foot averaging $20.20. 2,500,000 2,000,000 1,500,000 1,000,000 500,000 Base Square Feet Occupied Square Feet 0 2010 I I I 2014* DOWNTOWN RETAIL COMPOSITION 587 Merchants Dining Shopping Services Source: CBRE, Data provided for zip code 45202 *Downtown retail overall square footage based on downtown properties of 10,000 sq. ft. or greater. Base square footage decreased in 2014 due to the conversion of Tower Place Mall to Mabley Place garage. PG. 29 105296_changeA.indd 32 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM PL AY Breweries/Brewpubs Sports/Neighborhood Bars Cocktail/Wine Bars Private Dining Facilities Music Dance Clubs 281 Restaurants/ Bars Coffee/Bakeries/Ice Cream Full Fare Restaurants Lunch/Fast Casual Restaurants Antiques/Auction Houses Pharmacies/Newsstands Apparel/Shoes/Accessories Jewlery/Furs Beer/Wine/Liquor Home Furnishings/Art 185 Shops Department Stores/Malls Galleries Gifts/Books/Novelty Grocery/Convenience Markets Tickets/Travel Pets Wireless Electronics Libraries Auto/Bike/Home Repair Funeral Florists/Wedding Fitness/Health Eyewear 121 Services Beauty Car/Bike Rentals City Tours Cleaners/Tailors/Shoe Repair STATE OF DOWNTOWN REPORT 105296_changeA.indd 33 PG.30 3/26/15 11:43 AM PL AY CONVENTIONS The Cincinnati Conventions and Visitors Bureau hosted 197 meetings and conventions, including meetings of the International Association of Fire Fighters and the National Urban League, which resulted in 184,846 hotel room nights held in 2014, with an economic impact of $55 million. ROOM NIGHTS AND MEETINGS 0 197 250,000 250 200,000 184,846 200 150,000 100,000 50,000 Meetings 100 50 0 0 2010 Room Nights 150 I I I 2014 ECONOMIC IMPACT $70M $55M $60M $50M $40M $30M $20M conomic Impact of CVB E room nights $0M 2010 I I I 2014 The Cincinnati USA CVB was awarded the 2014 Platinum Choice Award from Smart Meetings magazine—a coveted industry honor, with winners selected by top meeting professionals and Smart Meetings readers – recognizing 130 hotels and 50 convention and visitors bureaus across North America. Source: Cincinnati USA Conventions & Visitors Bureau (CVB) Room Nights and Meetings are reported as totals of room nights and meetings held within each calendar year. Economic Impact is the product of room nights held each year and the Estimated Direct Attendee Spending per person provided by DMAI (Destination Marketing Association International). PG. 31 105296_changeA.indd 34 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM PL AY DOWNTOWN CINCINNATI CONVENTION HIGHLIGHTS KEY DOWNTOWN CINCINNATI CONVENTIONS BOOKED GROUP ROOM NIGHTS ECONOMIC IMPACT (IN MILLIONS) Educational Testing Service 21,017 $6.26 International Association of Fire Fighters 12,422 $3.70 National Urban League 6,709 $2.00 V Twin Expo by Easyriders 6,244 $1.86 Nature’s Sunshine Products, Inc. 4,143 $1.23 United Supreme Council 3,534 $1.05 National Coalition of Black Meeting Planners 1,179 $ .35 GROUP ROOMEVENT NIGHTS DATE The Kroger Company 18,659 2015 National Association for the Advancement of Colored People (NAACP) 10,090 2016 Improved Benevolent Protective Order of Elks of the World 5,833 2016 Christian Booksellers Association 5,555 2016 International Association of Venue Managers, Inc. 5,028 2021 Institute of Electrical & Electronics Engineers 4,6352018 National Urban League Conference Courtesy of the Cincinnati USA Convention and Visitors Bureau STATE OF DOWNTOWN REPORT 105296_changeA.indd 35 PG. 32 3/26/15 11:43 AM PL AY WALKS AND RUNS Fundraising walks and runs boosted visitation to downtown Cincinnati on the weekends. Cincinnati’s renowned Flying Pig Marathon registered more than 36,000 participants from all 50 states and 19 countries for its 16th annual event in May of 2014. The Flying Pig alone has raised over 12 million dollars for charities since its beginning in 1997. Participants Event Charity 36,131 Cincinnati Flying Pig Marathon Various local and national charities 25,000 Heart Mini Marathon American Heart Association 15,670 Thanksgiving Day Race Various local charities focusing on children, cancer research and Alzheimer’s research 15,000 Making Strides Against Breast Cancer American Cancer Society 13,000 March for Babies March of Dimes 11,000 Buddy Walk Down Syndrome Association of Greater Cincinnati 10,000 The Color Run Leukemia and Lymphoma Society 5,000 Freestore Foodbank’s Hunger Walk and 5K Run Freestore Foodbank and Partner Agencies 5,000 Light the Night Walk Leukemia and Lymphoma Society 4,841 Redlegs Run 10K and 5K Cincinnati Reds Community Fund 4,000 Girls on the Run Greater Cincinnati Spring 5K Girls on the Run Greater Cincinnati 3,587 Queen Bee Half Marathon Various local charities focusing on women 3,200 Walk Ahead for a Brain Tumor Cure UC Brain Tumor Center 3,674 Hudepohl 14K and 7K Brewery Run Over-the-Rhine Historic Brewery District 3,655 Walk and Run MS Cincinnati National MS Society, Ohio Valley Chapter 2,100 PurpleStride Cincinnati Pancreatic Cancer Action Network 1,726 Bockfest 5K Over-the-Rhine Historic Brewery District 1,297 Step Out: Walk To Stop Diabetes American Diabetes Association 1,207 Go OTR 5K Race Over-the-Rhine Chamber Of Commerce 500 Superhero Run for Kids ProKids CASA Volunteer Program 150 The Great Race Boys and Girls Club of Cincinnati Source: City of Cincinnati Police event permits and reports from event organizers and/or charities, when available PG. 33 105296_changeA.indd 36 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM PL AY The Flying Pig Marathon Michael E. Anderson, Courtesy of Game Day Communications Freestore Foodbank 5K The Hudy 14K March for Babies Scott Beseler, Courtesy of the Freestore Foodbank Travis Estell Courtesy of The March of Dimes Buddy Walk Courtesy of the Down Syndrome Association of Greater Cincinnati STATE OF DOWNTOWN REPORT 105296_changeA.indd 37 PG. 34 3/26/15 11:43 AM ACCESS AND TRANSIT Means of access and transit downtown expanded last year. Two new downtown garages provided additional parking options for downtown drivers. Metro announced a regional pass with TANK and was listed as #1 in operational efficiency among 12 peer transit systems, according to a UC Economics Center study. As track and utility work continued in 2014, the year-end sale of the limited-edition, commemorative Cincinnati Streetcar “Founder’s Club” cards raised over $50,000 towards operation, with buyers looking forward to their first ride in 2016. And Cincy Red Bike made a splash downtown, exceeding ridership expectations and bringing a new mode of public transportation to the urban core. 105296_changeA.indd 38 3/26/15 11:43 AM ACCES S A ND TR A NSIT MONTHLY PARKING The opening of Mabley Place and dunnhumby Centre Garage contributed close to 2,000 new spaces for a total of over 38,000 monthly parking spaces tracked by Downtown Cincinnati Inc. in the Central Business District, Over-the-Rhine, and Pendleton. Downtown garage and surface lot spaces averaged $91 per month* by the end of 2014. DOWNTOWN CINCINNATI MONTHLY PARKING $160 38,410 40,000 35,000 30,000 $140 $120 $100 25,000 $91 20,000 $80 15,000 $60 10,000 $40 5,000 $20 Reserved Monthly Spaces Available Monthly Spaces Average Available Monthly Price 0 $0 2010 I I I 2014 Mabley Place Garage Thadd Fiala Source: Data reported by parking operators *Reflects price per available space at year-end for monthly parking in garages and surface lots surveyed in the Central Business District, Over-the-Rhine and Pendleton. STATE OF DOWNTOWN REPORT 105296_changeA.indd 39 PG. 36 3/26/15 11:43 AM ACCES S A ND T R A NSIT PUBLIC TRANSIT Cincy Red Bike, a new bike-sharing program in Cincinnati, installed stations with 260 bikes now available for public use at $8 per day in downtown and uptown. Construction of the Cincinnati Streetcar progressed as the completion of the final weld of the rails of the Over-the-Rhine portion of the route was celebrated in December. LEGEND: Future Cincinnati Streetcar route Metro, Government Square Red Bike stations Southbank Shuttle Tank, The Bus Stop ZipCar locations Government Square Tank, The Southbank Bus Stop Shuttle Note: For more information on public transportation and links to schedules and rates, visit downtowncincinnati.com. PG. 37 105296_changeA.indd 40 STATE OF DOWNTOWN REPORT 3/26/15 11:43 AM ACCES S A ND TR A NSIT Streetcar Founders Passes Travis Estell Fifth and Walnut Intersection Sixth Street Taxi Stand Southbank Shuttle Travis Estell Randy Simes Courtesy of Downtown Cincinnati Inc. Urban Basin Bicycle Club 5chw4r7z, Courtesy of 5chw4r7z.blogspot.com STATE OF DOWNTOWN REPORT 105296_changeA.indd 41 PG. 38 3/26/15 11:43 AM DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 42 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T 2014 HIGHLIGHTS AND ACCOMPLISHMENTS • T he 2014 Downtown Cincinnati Perceptions Survey, available from August 13 to September 23, was completed by 2,979 local respondents and had the most diverse participation in the survey to date. For overall safe and clean ratings, 70% viewed the Central Business District as safe and 74% agreed it is clean. TABLE OF CONTENTS Marketing and Communications41 Safe and Clean 42 • D CI joined the board of the newly created Regional Economic Development Initiative to assist in attraction and retention of office users. DCI provided support during development to the owners of At580, Mabley Place, Renaissance Hotel, The Banks, and the future Homewood Suites and Hampton Inn. Stakeholder Services 43 Independent Auditors’ Report 44 Financial Statements 45 • A rtVenture, an online database of public art and themed itineraries that feature many downtown businesses, received an International Downtown Association Achievement Award. DCI Board of Directors 53 DCI Members 56 DCI Staff 59 • T he new Gum Buster machine, which uses steam and solvent to remove gum from the sidewalks and spray paint from walls, was added to the equipment the Ambassadors use to keep downtown clean with 25 block faces cleaned by year’s end. • T he Social Service Outreach Coordinators assisted 6,043 people downtown, and helped to move 40 people into permanent housing. They continue to focus on the most challenging individuals pursuant to a partnership with the mental health board and the Cincinnati Police. • D owntown Cincinnati Gift Card sales were 43% ahead of 2013. More than 200 establishments now accept the Gift Card, which is available for purchase at Findlay Market, the DCI office, and at downtowncincinnati.com. • The 2014 DCI Membership year ended with 294 members (5% over goal) and $140,025 (7% over goal). DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 43 PG. 40 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT MARKETING AND COMMUNICATIONS Advancing the image, awareness, and usage of downtown Cincinnati as a vibrant hub of activity for people to live, work, dine, shop, and play. Courtesy of Resource Ammirati Jenna Kendle Communications Holidays Retail Promotion DCI partnered with the Regional Tourism Network and the Convention & Visitors Bureau to host a reception with Mayor Cranley in New York City during the “Cincy in NYC” events in May. Local and national media, meeting planners, and real estate professionals attended this event to learn more about Cincinnati. The potential reach of the media coverage was 305 million people over the course of the week. Macy’s Downtown Dazzle celebrated its tenth anniversary with a new sponsor, Fioptics from Cincinnati Bell, a new light show, and an enhanced fireworks display. All 1,000 of the Rookwood Commemorative ornaments were sold at Macy’s Fountain Place. The new Shillito’s Elves display at the Carew Tower helped drive additional traffic to the Arcade merchants and created engagement on social media. Downtown Cincinnati Gift Card sales were 43% ahead of 2013. Gift Cards, available for purchase at Findlay Market, in addition to the DCI office and website, are now accepted at more than 200 establishments throughout downtown. ArtVenture, with itineraries that feature art and downtown businesses, was launched in May and was featured on WVXU and WNKU and in Soapbox and the Business Courier. This project received an International Downtown Association Achievement Award in October. PG. 41 105296_changeA.indd 44 DCI produced new holiday television and radio commercials that featured the voiceover work of a young actress from the film Frozen. Over the holidays, downtown merchants and events were featured on 24 live TV interviews during a five-week period. Inspired by the iconic I “heart” NY campaign, 45 pairs of street pole banners were installed throughout downtown. These banners celebrate what people love most about Cincinnati – ice cream, baseball, ballet, football, beer and more. The Summer Retailer Kickoff meeting was held in May and the Holiday Kickoff meeting in November. Each was attended by more than 120 stakeholders, with presentations about upcoming events, conventions, and construction news. DOWNTOWN CINCINNATI INC. ANNUAL REPORT 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T SAFE AND CLEAN Enhancing the safe, clean, and welcoming environment of downtown Cincinnati. Alex Koppelman Courtesy of Downtown Cincinnati Inc. Courtesy of Downtown Cincinnati Inc. Ambassadors Clean and Welcoming Community Engagement Every day, those who live, work, and play downtown are greeted by the DCI Ambassadors. Trained in public safety, enhanced cleanliness, and customer service, more than 30 Ambassadors patrol the streets. Awareness of the Ambassadors continues to grow. Respondents to the 2014 Perceptions Survey rated Ambassador visibility at 57%. In 2014, Keep Cincinnati Beautiful awarded the Central Business District (CBD) the best score possible, on the monthly litter index reports. A Gum Buster machine was added to the equipment the Ambassadors use to keep downtown clean. It uses steam and solvent to remove gum from the sidewalks and spray paint from walls. In all, 25 block faces were cleaned with the Gum Buster. During Sector Groups meetings, retailers, residents, and property owners identify and solve quality of life issues. Held regularly, the Central Business Section Commander and the President and CEO of DCI attend all meetings. During the summer, DCI produced A Day in the Life of an Ambassador, a video which followed an Ambassador on his daily rounds, cleaning, meeting with police, and offering social service and hospitality assistance. The Ambassadors’ Facebook page has 877 likes and shares information about safety issues, traffic, and downtown businesses. During the year, the Ambassadors removed 832,713 pounds of trash, power-washed 550 block faces, removed weeds from 1,192 block faces and removed 4,437 instances of graffiti. They made 28,328 hospitality assists, which include giving directions to pedestrians, distributing downtown guides, and offering safety escorts. DCI’s Social Service Outreach Coordinators had 6,043 contacts and interactions with clients, social service providers and landlords and helped 40 individuals move into housing facilities. During 2014, the Ambassadors made 9,336 contacts with panhandlers, and they continue to encourage visitors to give to social services organizations instead of panhandlers to make a lasting difference. DCI issued 132 Virtual Block Watch email notifications regarding urgent safety topics and street construction updates. This demonstrates an 8% increase over last year’s updates. DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 45 PG. 42 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT STAKEHOLDER SERVICES Supporting and advocating for business and residential growth in downtown Cincinnati. Courtesy of the Downtown Residents Council Living Downtown More than 1,000 Welcome Bags filled with promotional items from restaurants, retailers, arts, culture, and transit organizations were delivered to new downtown workers and residents. DCI participated on the board of the Downtown Residents Council coordinating its speaker program which included representatives from Cincy Red Bike, City of Cincinnati Councilmembers, National Urban League Conference, Cincinnati Preservation Society, The Women’s Fund of The Greater Cincinnati Foundation, ReelAbilities Film Fest, Renaissance Cincinnati Downtown Hotel, Cincinnati Streetcar, and Cincinnati Parks Foundation. PG. 43 105296_changeA.indd 46 Courtesy of Downtown Cincinnati Inc. New and Expanding Businesses Downtown Orientation sessions, presented with partners including the City of Cincinnati and Metro/ SORTA, were provided to new downtown companies Jedson Engineering, Pure Romance, BDO and Zipscene. Growing downtown firms Keating, Muething & Klekamp and PricewaterhouseCoopers enjoyed downtown update presentations from DCI. DCI joined the board of the Regional Economic Development Initiative (REDI), new in 2014, to assist in attraction and retention of office users. These efforts included working with owners of AT580, the Terrace building, Mabley Place, Renaissance Cincinnati Downtown Hotel, the future Homewood Suites and Hampton Inn, The Banks Phase II, and GE. Courtesy of LaVERDAD Marketing Research and Information The 2014 Downtown Cincinnati Perceptions Survey was completed by 2,979 local respondents, 29% of whom represented minority racial and ethnic groups—the most diverse participation in the survey to date. Perceptions of downtown remained strongly positive in 2014 with 74% of respondents rating the Central Business District favorably, and 80% of visitors rating Over-the-Rhine favorably. DCI provided data support to commercial developers and residential developers, commercial real estate firms, the Cincinnati USA Convention and Visitors Bureau, and the Cincinnati Police and Communications departments. The combined State of Downtown and Annual Report, Celebrating 20 Years of Downtown Revitalization, featured a 20 year timeline outlining major milestones, residential data, safe and clean indicators, and entertainment and recreational visitation. DOWNTOWN CINCINNATI INC. ANNUAL REPORT 3/26/15 11:43 AM Independent Auditors’ Report Board of Directors Downtown Cincinnati, Inc. Cincinnati, Ohio We have audited the accompanying financial statements of Downtown Cincinnati, Inc. (DCI) (a nonprofit organization), which comprise the statements of financial position as of December 31, 2014 and 2013 and the related statements of activities and cash flows for the years then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above, present fairly, in all material respects, the financial position of DCI as of December 31, 2014 and 2013 and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. March 12, 2015 Cincinnati, Ohio www.barnesdennig.com DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 47 PG. 44 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT STATEMENTS OF FINANCIAL POSITION December 31, 2014 and 2013 Assets Cash and cash equivalents Certificates of deposit Contracts and accounts receivable Unbilled receivables Prepaid expenses Property and equipment, net Total assets 20142013 $ 486,129 249,950 400,152 198,802 6,490 48,036 $ 600,634 249,692 176,845 270,829 7,149 11,566 $ 1,389,559 $ 1,316,715 $ 412,598 83,326 $ 424,845 82,101 495,924 506,946 893,635 809,769 Liabilities and Net Assets Liabilities Accounts payable and accrued expenses Advanced memberships Total liabilities Unrestricted Net Assets Total liabilities and net assets PG. 45 105296_changeA.indd 48 $ 1,389,559 $ 1,316,715 DOWNTOWN CINCINNATI INC. ANNUAL REPORT 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T STATEMENTS OF ACTIVITIES Years Ended December 31, 2014 and 2013 2014 Unrestricted revenues and support DCID contract: Special Improvement District Service agreements Memberships Holiday, directory sponsorships and special events In-kind donations Other Income Interest income Net assets released from restriction Total unrestricted revenues and support $ 2,275,500 308,285 140,025 104,392 27,537 12,300 1,406 — 2013 $ 2,265,911 488,904 131,210 120,020 18,121 2,500 986 50,000 2,869,445 3,077,652 Expenses Operating In-kind 2,758,042 27,537 2,934,240 18,121 2,785,579 2,952,361 83,866 125,291 Temporarily restricted net assets released from restriction — (50,000) Change in temporarily restricted net assets — (50,000) 83,866 75,291 809,769 734,478 $ 893,635 $ 809,769 Total expenses Change in unrestricted net assets Change in net assets Net assets, beginning of year Net assets, end of year DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 49 PG. 46 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT STATEMENTS OF CASH FLOWS Years Ended December 31, 2014 and 2013 2014 Cash flows from operating activities Change in net assets Adjustment to reconcile change in net assets to net cash provided by operating activities: Depreciation Changes in: Contracts and accounts receivable Unbilled receivables Prepaid expenses Accounts payable and accrued expenses Advanced memberships Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of certificates of deposit Certificate of deposit maturities Purchase of property and equipment Net cash used in investing activities Net change in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 2013 $ 83,866 $ 75,291 8,882 4,424 (223,307) 72,027 659 (12,247) 1,225 28,222 (6,937) (1,369) 141,218 4,475 (68,895) 245,324 (301,012) 300,754 (45,352) (249,692) 55,000 (9,213) (45,610) (203,905) (114,505) 41,419 600,634 559,215 $ 486,129 $ 600,634 PG. 47 DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 50 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T NOTES TO FINANCIAL STATEMENTS NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS Downtown Cincinnati, Inc. (DCI or the Organization) is a nonprofit corporation organized to enhance downtown Cincinnati through safe and clean programs, communications and marketing programs, and stakeholder services including assisting small women-owned and minorityowned firms. DCI receives contributions from Cincinnati area companies and foundations; and also receives funds from assessments on all downtown properties to take leadership in the revitalization of downtown. FINANCIAL STATEMENT PRESENTATION The financial statements have been prepared on the accrual basis of accounting in accordance with generally accepted accounting principles (GAAP). The Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets which have no donor-imposed restriction; temporarily restricted net assets which have donor-imposed restrictions that will expire in the future; and permanently restricted net assets which have donor-imposed restriction which do not expire. There are no temporarily or permanently restricted net assets at December 31, 2014 and 2013. CASH AND CASH EQUIVALENTS The Organization considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2014 and 2013, cash equivalents consisted primarily of money market funds. The Organization maintains its cash in bank deposit accounts which, at times, exceed federally insured limits. The Organization has not experienced any losses in such accounts and management believes it is not exposed to any significant credit risk. CERTIFICATES OF DEPOSIT Certificates of deposit are carried at cost which approximates fair value. The certificates held at December 31, 2014 mature on various dates during 2015 and 2016. CONTRACTS AND ACCOUNTS RECEIVABLE Contracts and accounts receivable consist of reimbursements due under contract agreements and general accounts receivable. The Organization provides an allowance for doubtful accounts, which is based upon a review of outstanding receivables, historical collection information and existing economic conditions. Delinquent receivables are written off based on individual credit evaluation and specific circumstances. As of December 31, 2014 and 2013, management considered all receivables to be collectible; therefore, no allowance was necessary. UNBILLED RECEIVABLES Under the Special Improvement District (SID) contract through Downtown Cincinnati Improvement District (DCID), SORTA and Hamilton County Office of Reentry, the Organization bills actual monthly expenses the following month. Unbilled receivables represent December SID, SORTA and Hamilton County Office of Reentry expenses to be billed in January of the following year. Also included in unbilled receivables at December 31, 2014 and 2013 were December consignment sales of promotional products (Commemorative Rookwood Tiles) billed in January of the following year. DOWNTOWN CINCINNATI INC. ANNUAL REPORT PG. 48 105296_changeA.indd 51 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT NOTES TO FINANCIAL STATEMENTS (continued) NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) PROPERTY AND EQUIPMENT Property and equipment are recorded at cost or at fair value as of the date of the contribution. Depreciation is provided using the straight-line method over the estimated useful lives of the respective assets. The cost of maintenance and repairs are expensed as incurred while significant improvements are capitalized. CONTRIBUTIONS The Organization records gifts of cash and other assets at their fair value as of the date of contribution. Such donations are recorded as unrestricted support unless explicit donor stipulations specify how the donated assets must be used. Gifts that are originally restricted by the donor and for which the restriction is met in the same time period are recorded as unrestricted support. Gifts of long-lived assets with explicit restrictions that specify how the assets are to be used and gifts of cash or other assets that must be used to acquire long-lived assets are reported as restricted support. Absent explicit donor stipulations about how long-lived assets must be maintained, the Organization reports expirations of donor restrictions when the donated or acquired long-lived assets are placed in service. IN-KIND DONATIONS The Organization receives certain in-kind donations during the year, which are recorded at fair market value as contribution revenue and an expense in the financial statements. ADVANCED MEMBERSHIPS Memberships received in advance are deferred and recognized in the period to which the memberships relate. INCOME TAXES The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and a similar provision of Ohio law. However, the Organization is subject to federal income tax on any unrelated business taxable income. The Organization’s IRS Form 990 is subject to review and examination by federal and state authorities. The Organization believes it has appropriate support for any tax positions taken, and therefore, does not have any uncertain income tax positions that are material to the financial statements. The Organization is generally no longer subject to examinations by tax authorities for years before 2011. FUNCTIONAL ALLOCATION OF EXPENSES The costs of supporting the various programs and other activities have been summarized on a functional basis in the notes to the financial statements. Expenses have been classified based upon the actual direct expenditures and cost allocations based upon estimates of time spent by Organization personnel. PG. 49 105296_changeA.indd 52 DOWNTOWN CINCINNATI INC. ANNUAL REPORT 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T NOTES TO FINANCIAL STATEMENTS (continued) NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. SUBSEQUENT EVENT EVALUATION In preparing its financial statements, the Organization has evaluated events subsequent to the statement of financial position date through March 12, 2015, which is the date the financial statements were available to be issued. NOTE 2 PROPERTY AND EQUIPMENT Property and equipment consisted of the following: Computer equipment 2014 2013 $ 60,300 $ 55,758 Signage 31,891 — Computer software 24,608 16,141 Office equipment 9,018 8,566 125,817 80,465 Less accumulated depreciation (77,781) (68,899) $ 48,036 $ 11,566 Depreciation expense was $8,882 in 2014 and $4,424 in 2013. NOTE 3 CONCENTRATION / SPECIAL IMPROVEMENT DISTRICT NOTE 4 OTHER SERVICE CONTRACTS DCI entered into a Special Improvement District contract with Downtown Cincinnati Improvement District (DCID) which expires on December 31, 2017. DCID is a special assessment of downtown property owners, which purchase the services of DCI. Approximately 78% of revenues in 2014 and 75% in 2013, and 87% of the receivables in 2014 and 71% in 2013 are related to the Special Improvement District contract. DCI had contracts with the Fountain Square Management Group to clean Fountain Square and OTR Holdings to clean certain areas in Over-the-Rhine. These contracts ended in April 2014. DCI expended $95,350 in 2014 and $377,721 in 2013 in connection with these contracts. DCI also has a contract with SORTA to clean Government Square, bus stops and shelters in the central business district and Hamilton County Office of Reentry to provide outreach services. DCI expended $204,349 in 2014 and $149,645 in 2013 in connection with these contracts. DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 53 PG. 50 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT NOTES TO FINANCIAL STATEMENTS (continued) NOTE 5 LEASE COMMITMENTS The Organization leases office space and various equipment under operating leases that will expire in 2017. Rent expense for these leases was $67,452 in 2014 and $55,985 in 2013. Future minimum lease payments are as follows: NOTE 6 401(K) PLAN NOTE 7 FUNCTIONAL ALLOCATION OF EXPENSES 2015 $ 67,482 2016 67,482 2017 66,584 $ 201,548 DCI participates in a multi-employer 401(k) plan sponsored by the Cincinnati USA Regional Chamber of Commerce The Organization matches up to 5% of the employees’ contributions to the plan. Participants vest in employer contributions 20% each year and are fully vested after five years. Plan contributions were $24,050 for 2014 and $23,216 for 2013. The costs of supporting the various programs and other activities of the Organization have been summarized below. Expenses have been classified based upon the actual direct expenditures and cost allocations based upon estimates of time spent by Organization personnel. Program services 2014 $ 2,463,563 2013 88.4% $ 2,652,217 89.9% General and administrative 194,787 7.1% 209,072 7.0% Fundraising 127,229 4.5% 91,072 3.0% $ 2,785,579 100.0% $ 2,952,361 100.0% PG. 51 DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 54 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T Contemporary Arts Center’s Metrobot Nick and Drew Lachey at Oktoberfest Reds Fans Travis Estell Courtesy of the Cincinnati Reds Pi Pizzeria Courtesy of the Cincinnati USA Regional Chamber Taste of Cincinnati Renaissance Cincinnati Downtown Hotel Courtesy of the Cincinnati USA Regional Chamber 5chw4r7z, Courtesy of 5chw4r7z.blogspot.com DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 55 Thadd Fiala PG. 52 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT DOWNTOWN CINCINNATI INC. BOARD OF DIRECTORS Executive Committee Mayor John Cranley Honorary Chair Mayor, City of Cincinnati Jill P. Meyer Chair (beginning as Chair April 1, 2014) Partner-in-Charge, Frost Brown Todd LLC Mark T. Reitzes Chair (through April 1, 2014) Edward D. Diller Vice Chair (beginning as Vice Chair February 15, 2014) Partner-in-Charge, Taft Stettinius and Hollister LLP Marvin Blade Vice Chair (through February 15, 2014) Director, Government and Community Relations, Duke Energy Ryan M. Rybolt Secretary (beginning as Secretary April 1, 2014) President, Infintech LLC Kelley J. Downing Secretary (through April 1, 2014) President and Chief Executive Officer, Bartlett and Company David A. Eshman Treasurer Partner, Deloitte LLP Harry Black (beginning September 1, 2014) City Manager, City of Cincinnati Jim T. Neyer Executive Vice President, Real Estate Development, Al Neyer LLC Kevin Shibley General Manager, Saks Fifth Avenue David N. Ginsburg President and Chief Executive Officer, Downtown Cincinnati Inc. Scott Stiles (through September 1, 2014) Interim City Manager, City of Cincinnati Wijdan Jreisat Attorney at Law, Katz, Teller, Brant and Hild Directors Arlene R. Koth Vice President, Administration and Human Resources, TriVersity Construction Company Tim Abbott (beginning May 1, 2014) Government and Community Relations Manager, Duke Energy Christopher Monzel President, Hamilton County Board of Commissioners Eric P. Avner Vice President and Senior Program Manager, Community Development, The Carol Ann and Ralph V. Haile, Jr./U.S. Bank Foundation William J. Moran (beginning February 1, 2014) Senior Vice President, Director of Corporate Facilities, Fifth Third Bank Chad Munitz Executive Vice President, Development and Operations, Cincinnati Center City Development Corporation (3CDC) Chief Jeffrey Blackwell (beginning February 1, 2014) Chief of Police, Cincinnati Police Department PG. 53 DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 56 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T DCI Board of Directors (continued) Wayne Bodington (through April 1, 2014) General Manager, The Westin Hotel, Cincinnati Paul Brown (beginning April 1, 2014) Vice President, Cincinnati Bengals Ashley Buchanan Assistant Vice President, Director Queen City Square Management, Eagle Realty Group A member of Western and Southern Financial Group Donald B. Bush Brian T. Carley (beginning March 1, 2014) President and Chief Executive Officer, Cincinnati USA Regional Chamber Kimber L. Fender The Eva Jane Romaine Coombe Director, The Public Library of Cincinnati and Hamilton County Dr. LaVaughn M. Henry, Ph.D. Vice President and Senior Regional Officer, Federal Reserve Bank of Cleveland - Cincinnati Branch Mary Sue Findley Vice President of Human Resources, dunnhumbyUSA Sallie L. Hilvers (beginning July 1, 2014) Executive Director Strategic Communications, Metro Karen Forgus Senior Vice President of Business Operations, Cincinnati Reds Terry Garcia Crews (through July 1, 2014) Chief Executive Officer and General Manager, Metro Carl L. Goertemoeller Senior Vice President, Real Estate, Macy’s Inc. Cristina Chuecos Consultant, Diversity and Global Competency, Wisdom Nuggets, LLC Barbara Hauser Manager, Ohio Community Relations, The Procter and Gamble Company Deborah Dent President and Founder, Venue 222 Dr. Julia A. Heath Executive Director of the Economics Center and Professor, Alpaugh Family Chair of Economics, University of Cincinnati Daniel J. Eifert Vice President, Property Management Hines Craig Hudson (beginning April 1, 2014) President, Downtown Residents Council Lt. Col. Paul Humphries (through February 1, 2014) Executive Assistant Chief, Cincinnati Police Department Emilie Johnson President, Over-the-Rhine Chamber Steven T. Kenat (beginning April 1, 2014) Principal Director, Community Development, GBBN Architects, Inc. Kevin Kline Senior Vice President and General Manager, Horseshoe Casino Kelly Kolar President, Kolar Design DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 57 PG. 54 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT DCI Board of Directors (continued) Daniel M. Lincoln President and Chief Executive Officer, Cincinnati USA Convention and Visitors Bureau James J. McGraw, Jr. Partner, Keating Muething and Klekamp PLL Peg Moertl (through October 1, 2014) Central Territory, Executive Senior Vice President, Community Development Banking, PNC Bank Gregory A. Otis Chief Executive Officer, GO! Creative LLC Julia W. Poston Office Managing Partner, Ernst and Young LLP Sherri Prentiss (beginning April 1, 2014) Vice President, Marketing, Cincinnati Symphony Orchestra Brian A. Ross Sean Rugless President and Chief Executive Officer, Greater Cincinnati/Northern Kentucky African American Chamber of Commerce PG. 55 105296_changeA.indd 58 Wm. John Ryan Greater Cincinnati-Northern Kentucky Complex Manager, Senior Vice President, Investments, Raymond James and Associates Carl Satterwhite (through December 4, 2014) President, The RCF Group Karen Seiter Vice President, Manager Corporate Real Estate, Fifth Third Bank Ellen G. van der Horst (through March 1, 2014) President and Chief Executive Officer, Cincinnati USA Regional Chamber Stanford T. Williams, Jr. Vice President, Economic Inclusion, Messer Construction Company Mark P. Woodruff Senior Brand Marketing Manager, Enquirer Media Elizabeth P. Sherwood (beginning April 1, 2014) Vice President, Community Development, Huntington National Bank Stephen Taylor Vice President, District Manager, US Bank Conrad Thiede (through April 1, 2014) Director of Planned Giving and Special Campaigns, Cincinnati Symphony Orchestra LeVon Thompson, Jr. President and Chief Operating Officer, Foxx Construction, LLC DOWNTOWN CINCINNATI INC. ANNUAL REPORT 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T DOWNTOWN CINCINNATI INC. MEMBERS Corporate 5th Street Gallery Christ Church Cathedral Cooney Faulkner & Stevens, LLC Acme Lock Inc. Cincilingua Inc. International Language Center Covenant First Presbyterian Church Cincinnati Art Galleries, LLC. CRAVE Cincinnati Airrosti Rehab Centers, LLC Al. Neyer, LLC Allpro Parking American Modern Insurance Group Antonelli College Appointments – The Business Store Arnold’s Bar & Grill Art Beyond Boundaries ArtWorks AT&T Ohio ATech: Automotive Technology Baker & Daboll, LLC Bang & Olufsen Cincinnati Barbara J. Howard Co. LPA Barnes Dennig & Co., Ltd. Bartlett & Company Below Zero Lounge BHDP Architecture CR Architecture + Design Cincinnati Arts Association Cincinnati Bar Association Cushman & Wakefield|Cincinnati Commercial, REALTORS Cincinnati Bengals Defining Moments Consulting Cincinnati Book Publishing Deloitte LLP Cincinnati Business Committee Development Strategies Group, LLC Cincinnati Business Courier Dinsmore & Shohl LLP Cincinnati Center City Development Corporation (3CDC) DTZ Cincinnati Development Fund, Inc. Duke Energy Center/Global Spectrum Cincinnati Hills Christian Academy Duke Energy dunnhumbyUSA Cincinnati Masonic Center Elliott Management Group Cincinnati Museum Center Empower MediaMarketing Cincinnati Reds Enquirer Media Cincinnati Saints Soccer Club Ensemble Theatre of Cincinnati Cincinnati Stage Employees Local No. 5 Ernst & Young LLP Fabulous Frames and Art BKD, LLP Cincinnati State Technical and Community College Block by Block, Louisville Cincinnati Symphony Orchestra Fifth Third Bank Bonnie K. White & Associates, Inc. Cincinnati USA Convention and Visitors Bureau Findlay Market Cincinnati USA Regional Chamber Foundation Bank Cincinnati USA Regional Tourism Network Foxx Construction, LLC Brandstetter Carroll Inc. Brian L. Tiffany & Co., LLC Broadway in Cincinnati Budco Group Inc. Burgess & Niple, Inc. Burke & Schindler PLL Cadre Computer Resources Co. Castellini Company LLC Charitable Words Federal Home Loan Bank of Cincinnati Forza Marketing FRCH Design Worldwide Cincy Magazine FreeStore FoodBank, Inc. Cintas Corporation Frisch’s Restaurants, Inc. City Dermatology and Laser Frost Brown Todd, LLC Clark, Schaefer, Hackett & Co. Colliers International Greater Cincinnati Contract Sweepers Fund Evaluation Group, LLC Game Day Communications Garfield Suites Hotel DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 59 PG. 56 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT DCI Members (continued) GBBN Architects KMK Consulting Company, LLC General Electric Aviation Kolar Design, Inc. Glaserworks Lala’s Blissful Bites Global Cloud LaVerdad Marketing & Media Godbey & Associates Legg Mason Investment Counsel Goodson and Company, Ltd. Lincoln Maly Marketing Graeter’s Manufacturing Company LKAB Minerals, Inc Greater Cincinnati/Northern Kentucky African American Chamber of Commerce Local 12 WKRC-TV GreenSource Cincinnati Hardman Investment Group LPK Design Lucy Blue Pizza Cafe Macy’s, Inc. Manley Burke Premier Social Security Consulting, LLC Prime 47 Pure Romance R.G. McGraw Insurance Agency, Inc. Raymond James & Associates Renaissance Cincinnati Downtown Hotel Palomino Rotisserie and Bar Richter & Phillips Company Riverpoint Capital Management, Inc. RJE Business Interiors Mark Bowen Media Robinson Sotheby’s International Realty MC Squared Limited, LLC Rookwood Pottery Company McKinney & Namei Co., LPA Roosters Men’s Grooming Center Mellott & Mellott, P.L.L. Saks Fifth Avenue Messer Construction Company Sanger & Eby Metro Scott Knox Attorney At Law Michael Schuster Associates, Inc. Sibcy Cline, David Dawson Hines Mike & Carol Trotta Hixson Architecture, Engineering, Interiors Model Group Sibcy Cline Realtors, Metropolitan Office Moerlein Lager House SMS Events Horseshoe Casino Morton’s Steakhouse Sonic Arts Digital Audio Services, Inc. Humler & Nolan Nicholson’s Pub LLC SP Plus Parking Hunt Club Clothiers Ltd., Inc. North American Properties Standard Textile Company, Inc. Huntington National Bank NorthPointe Realty Starboard Strategy Infintech, LLC OKI - Regional Council of Governments Statman Harris & Eyrich Over-the-Rhine Chamber of Commerce Stout & Gallant Hart Productions, Inc. Hathaway Stamp and Identification Heidelberg Distributing Company HGC Construction HHB Partners, Inc., Realtors Hilliard Lyons Hilton Cincinnati Netherland Plaza Hotel Inner Peace Holistic Center Integrated Research Associates ISQ CoolCo, LLC Izzy’s JDL Warm Construction Jeffrey R. Anderson Real Estate Inc. Katz, Teller, Brant & Hild Keys & Simpkinson Klosterman Baking Company PG. 57 105296_changeA.indd 60 Paula Norton Photography Peak Property Group Pepper Construction Company of Ohio, LLC Plante & Moran, PLLC Plum Street Cafe PNC Bank Port of Greater Cincinnati Development Authority Stock Yards Bank & Trust Strauss & Troy Taft Stettinius & Hollister LLP TDA Associates, Inc. Terry Monnie Title Company The Bank of Kentucky The Bromwell Company The Carol Ann & Ralph V. Haile, Jr./U.S. Bank Foundation The Contemporary Arts Center DOWNTOWN CINCINNATI INC. ANNUAL REPORT 3/26/15 11:43 AM D CI 2014 A N NUA L REP OR T DCI Members (continued) The Garage OTR US Bank Thomas Huenefeld The Greater Cincinnati Foundation US Digital Partners Alison Kamine The Gym at Carew Tower Venue 222 Lisa Kaminski The Hearth Room Vestige Redevelopment Group Steven Kenat The Kroger Company Via Vite Thomas Kilcoyne The Nature Conservancy Walter E. Gay, Jr., D.D.S., Inc. Kinsey King The Phoenix Restaurant Group Western & Southern Financial Group/ Eagle Realty Group Susan Lennard The Procter & Gamble Company Whitmer & Company CPAS, LLP John Mack The Public Library of Cincinnati and Hamilton County Winegardner & Hammons, Inc. Wisdom Nuggets LLC The RCF Group Wood, Herron & Evans, LLP The Preview Group, Inc. The Reserve at 4th and Race The Soapbox Salon Stephen MacConnell Martha McGlinchey Terry Miller Daniel and LaWana Moroski Mike and Katie Moroski Michael Ohmer Theatre Management Corporation Individual and Family Members Thesing Real Estate Services, Inc. Nancy Allen Thomas D Heldman CPA & Associates, Inc Thomas Powers Eric Anderson Albert Pyle Mary Armor Bill Schmidt Geoffrey Barnes Kevin Schuitema Mary A. Berry Andy Scott Tom Besanceney Jalea Stowers-Grimes Damian Bolton Wayne Taleff Paula Brehm-Heeger Cindy Taylor Tri-State Plan Administration Inc. Kathleen and George Brinkman Conrad Thiede TriVersity Construction Company Kathleen DuPriest Ulmer & Berne LLP Greg Edwards United Way of Greater Cincinnati Andrew Gephardt Universal Protection Services, LLC Coralie Ginsburg University Hospital David and Pamela Ginsburg University of Cincinnati Marshall and Enid Ginsburg UPS Store Philip Gissen Upside Down Holdings LLC Mike and Carol Glotfelter Uptown Consortium, Inc. LaVaughn Henry Urban Fast Forward Kathryn Haines Urban Sites Limited Liability Company Craig Hudson The University Club of Cincinnati Thompson Hine LLP THP Limited Inc. Tiffany & Co. Time Warner Cable Tom and Chee LLC Trattoria Roma Mark Painter Rick Pender Jeffrey Waite Cynthia Walker Nathan Waller James and Joan Wichman David Yip Christy Zerges Michael Zipfel DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 61 PG. 58 3/26/15 11:43 AM D CI 2014 A N NUA L REP ORT STAFF David N. Ginsburg, President and CEO Patricia Casey, Administrative Manager Shelly Fuller, Director of Operations Gina Gartner, Director of Stakeholder and Information Services Ron Mabry, Operations Manager, Ambassador Services Julie McGuire, Administrative Assistant Mindy Rosen, Senior Vice President of Communications and Strategic Initiatives Downtown Ambassadors Courtesy of Downtown Cincinnati Inc. Tricia Suit, Director of Marketing David Thomas, Director of Ambassador Services Downtown Cincinnati Inc. Staff David Ginsburg News Interview Gregg Smith Courtesy of Downtown Cincinnati Inc. PG. 59 DOWNTOWN CINCINNATI INC. ANNUAL REPORT 105296_changeA.indd 62 3/26/15 11:43 AM 105296_changeA.indd 63 3/26/15 11:43 AM THE MISSION OF DOWNTOWN CINCINNATI INC. IS TO BUILD A DYNAMIC METROPOLITAN CENTER VALUED AS THE HEART OF THE REGION. 35 East Seventh Street, Suite 202 Cincinnati, OH 45202 www.downtowncincinnati.com 105296_changeA.indd 64 513.421.4440 3/26/15 11:43 AM