by German Lopez
27 days ago
Local job numbers improve, housing supply lags behind demand, The Banks gets price tag
Local job numbers continued their positive trend
in April, with Cincinnati’s unemployment rate dropping to 6.9 percent
and the rest of the region following suit. Michael Jones, research
director at the University of Cincinnati Economics Center, attributed
the job gains to improvements in manufacturing and continued growth in
health care jobs. Still, the public sector continued to lag behind the
private sector — a trend Jones says could change in the coming months as
government budgets are adjusted to match higher tax revenues resulting
from the recovering economy.
Downtown’s population growth slowed last year as available housing failed to match demand,
according to Downtown Cincinnati Inc.’s annual report. In the past few
years, the city has pursued multiple actions to meet demand,
particularly through public-private partnerships. Most recently, City
Council approved leasing the city’s parking assets to raise funds that
would help build 300 luxury apartments, but that plan is currently being held up in court.
The second phase of The Banks riverfront project will cost $62 million,
according to the report from Downtown Cincinnati Inc. That’s smaller
than the first phase, which cost $90 million. The second phase of the
project is expected to begin this fall, and it should bring 300
apartments and 60,000 square feet of street-level retail space to the
area by the end of 2015. The Banks also plans to build a $45 million
hotel, which is also expected to be complete in 2015. The funding for the projects is
coming through multiple public-private partnerships.
After the final
public hearing on the city budget Wednesday, Councilwoman Laure Quinlivan plans to introduce her own
budget plan that would avoid all city employee layoffs. A statement from Quinlivan
did not give much in the way of details: “My plan saves all city jobs
and restores all neighborhood programs. It requires common sense and
shared sacrifice of all city employees.” Most recently, council members
Chris Seelbach and Roxanne Qualls co-sponsored a motion that would eliminate fire layoffs and reduce police layoffs to 25 by making cuts elsewhere.
The Ohio Senate plans to vote
today on a measure that would effectively close down hundreds of
Internet “sweepstakes” cafes around the state in an effort to eliminate
illegal gambling activities. The cafes’ operators insist their
activities are not gambling but rather a promotional tool that helps
sell Internet time and long-distance phone cards.
Cincinnati’s zoning hearing examiner says he’s trying to reduce the time it takes to go through the zoning hearing process to less than 60 days.
Three major Ohio universities, including the University of
Cincinnati, and four hospitals, including Cincinnati Children's
Hospital, are teaming up to find out what causes premature birth.
Beginning July 1, some Ohio interstates will allow drivers to go 70 miles per hour. Find out which ones here.
At congressional hearings yesterday, U.S. senators
criticized Apple for legally taking advantage of the complex American
corporate tax system, but Kentucky Sen. Rand Paul put the blame on
Russia is building robots to “neutralize” terrorists, and other researchers are working on robots that will attempt to rescue people after disasters.
The creator of the GIF says it’s pronounced “jif.”
by German Lopez
126 days ago
More than 700 units being sold to New York company
Vice Mayor Roxanne Qualls is asking the U.S. Department of
Housing and Urban Development (HUD) to stop the sale of 748 housing
units to a New York company — potentially preventing a repeat of a
similar sale back to 2007 that led to dropping property values in the area.
In a press release Tuesday, Qualls argued that locals should be given the
opportunity to purchase the project-based Section 8 housing in Walnut
Hills, Avondale and Millvale. Currently, HUD is bypassing local
communities with plans to sell the housing to a corporation controlled
by the Puretz family of Brooklyn, N.Y.
“Cincinnati’s residents are still recovering from the
massive disinvestment that was allowed to occur with an eerily similar
situation in 2010,” Qualls said in the release, referring to a
similar sale that culminated in a huge drop in property values between
2007 and 2010.
In 2007, HUD sold 618 subsidized housing units to NY Group
OH 1 LLC, a company with no previous housing experience in Cincinnati,
according to Qualls’ release. As the 2008 financial crisis and Great
Recession pulled down the global economy, property values dropped all
around the nation, but things went particularly south in NY Group’s
Cincinnati buildings. The owner eventually defaulted on the housing
units, and Fannie Mae foreclosed in 2010. Property values went from $21.5
million to $7 million between 2007 and 2010, when the units were sold in a sheriff’s sale. In that time period, the
buildings blighted, with residents complaining about
deteriorating structures, broken lighting, bed bugs, cockroaches and mold. In one case, an
apartment’s restroom ceiling reportedly collapsed.
Qualls is focused on preventing more blighted buildings:
“Preservation of the housing in good condition is vital to the
improvement of our neighborhoods. Our neighborhoods cannot afford to
have more blight brought on by an absentee owner. Because these
properties are supported by government funding, it is vitally important
that HUD get public input from the City of Cincinnati and Avondale,
Walnut Hills and Millvale residents and stakeholders about this proposed
new transfer of HUD funded properties before making any further
Qualls has invited the local HUD field office director to
the Feb. 26 Livable Communities Committee meeting to discuss the sale.
She has also written to other HUD officials, U.S. Sen. Sherrod Brown, U.S. Sen.
Rob Portman and Rep. Steve Chabot to prevent the sale.
Critics call Chabot's Section 8 reform redundant, ill-advised
12 Comments · Tuesday, April 10, 2012
In an economy where prices on rental
properties continue to skyrocket while the job market remains sluggish,
Rep. Steve Chabot (R-Westwood) has an idea. He’s introduced radical
legislation to reform the federal Section 8 low-income housing program, a
reform that would force many in need to fend for themselves to obtain
1 Comment · Wednesday, November 18, 2009
Bus Riders: Merry Christmas! People who use the Metro bus system for transportation in Cincinnati and Hamilton County are going to have to dig deeper in their pockets beginning Dec. 27. Due to cuts in federal funding, Metro is raising its fares.
0 Comments · Wednesday, June 10, 2009
They say when one door closes another opens. I was reminded of that truism last week in Over-the-Rhine. Kris Sommer took me on a walking tour of new housing projects along Vine, Main, Pleasant and Republic streets, many of them developed by the company he works for, Urban Sites. In a former life, Kris was an advertising sales rep here at CityBeat.
Your guide to the Homeowner Affordability and Stability Plan
1 Comment · Wednesday, May 13, 2009
Buried somewhere in President Obama’s stimulus package is $75 billion to help Americans buy homes or stay in the ones they own. It’s called the Homeowner Affordability and Stability Plan, and the White House expects it to offer aide to some 9 million people. If you don’t know much about it, you’re not alone. CityLiving attempts to explain the overwhelming plan in 1,000 words or less…
0 Comments · Wednesday, February 18, 2009
Kevin Osborne's interview with Greg Harris, newly appointed to Cincinnati City Council ("At Home on City Council," issue of Feb. 11), included a few incorrect or misleading statements. The article quotes an increase in Section 8 Housing between 1994 and 2004, but methodology and dispersal, not quantity, changed.