Before You Go to the OTR Summer Tour of Homes
Over-the-Rhine that has been a place for Cincinnatians for many generations and many cultures and languages and ethnicities is a tremendous potential for the City and the region. Allowing Over-the-Rhine to decline results in underutilization of infrastructure already paid with taxpayer’s dollar. Reinvestment in historic buildings reinforces the value of existing real estate assets.
Housing boom brought a better wave of development for Over-the-Rhine as many as the renovation projects hits this area. Downtown Cincinnati, Inc. recorded $52.3 million near-term residential development, with 614 condominiums, and 1,595 rental, in Over-the-Rhine (State of the Downtown, Downtown Cincinnati, Fourth Quarter 2004 Report, December 31, 2004. Available online at http://gototown.com/PDFs/4Q_04_State_of_the_Downtown.pdf). The Over-the-Rhine Summer Tour of Homes that has become an annual event for the past two years has shown a growing market of housing in Over-the-Rhine.
In Cincinnati, the waves of preserving the stock of historic buildings in Over-the-Rhine have started in 1980s. Fortunately the historic district designation has made it possible for the City to enforce the regulation for every developer to follow in rebuilding these historic assets. Another advantage of the historic district designation is the tax-break for developers and new owners of residential buildings that attracts more people to believe that there is a future awaits of their tireless effort to rebuild these historic homes and storefronts.
Not all of the new homes are market rates housing. Although the number of federal funded homes in Over-the-Rhine has decreased in the last five years, there are many efforts to keep the balance of market-rate and affordable housing in the area. Mercy Housing, a national non-profit affordable housing developer, has bought properties from Mercy Health Center last year and plan to open 200 affordable apartments units in 2006.
These renovation efforts provide also homes for the arts and activities in Over-the-Rhine that stimulate creativity from the high quality buildings left from the past generation. But beyond that, preservation always pays more than new constructions. Donovan Rypkema, an economist and historic preservation expert, mentioned that in many cities, building rehabilitations creates more jobs than the same amount of new construction. In his book The Economics of Historic Preservations, he mentioned that in many states, building rehabilitations outperforms new constructions, measures through the number of jobs created, household incomes and impact on all other industries.
Historic preservation is no longer a luxury, but a successful method of economic development. Other inner-cities had made it, bringing balance to gentrification by providing affordable housing. In New Orleans, the local government has collaborated with local community-based organization, Seven Ward Community Services Corporation to rehabilitate 50 home for first-time home buyers in St. Peter Claver neighborhood, one of the oldest black neighborhoods in the country. (Nation's Cities Weekly, link: http://www.nlc.org/Newsroom/Nation_s_Cities_Weekly , October 19, 1998, Foxworth, Rodney Downey, Amy.)
Over-the-Rhine provides an ideal location for small businesses, especially with its storefronts and apartments over retail. It would make more sense to build and to support small and local businesses that will create more jobs for families and create a sense of community and retain the character of the place. In his book, Rypkema also mentioned that small businesses account more than 85% of all new job created. Strengthening civic leadership by supporting local businesses including starving artist sounds fit for Over-the-Rhine.
Now it’s the time to see the progress of revitalization in Over-the-Rhine by yourself. Enjoy the OTR Summer Tour of Homes on Sunday, June 5th, 2005. Don’t forget to stop by on Main Street and Findlay Market to shop, eat and mingle.
Copyright (c) Dyah Kartikawening, 2005.
Dyah Kartikawening, one of the believers, writes for iRhine.com, a community website to provide information for community, arts, development and businesses in Over-the-Rhine. Contact: dyah at irhine.com.
Housing boom brought a better wave of development for Over-the-Rhine as many as the renovation projects hits this area. Downtown Cincinnati, Inc. recorded $52.3 million near-term residential development, with 614 condominiums, and 1,595 rental, in Over-the-Rhine (State of the Downtown, Downtown Cincinnati, Fourth Quarter 2004 Report, December 31, 2004. Available online at http://gototown.com/PDFs/4Q_04_State_of_the_Downtown.pdf). The Over-the-Rhine Summer Tour of Homes that has become an annual event for the past two years has shown a growing market of housing in Over-the-Rhine.
In Cincinnati, the waves of preserving the stock of historic buildings in Over-the-Rhine have started in 1980s. Fortunately the historic district designation has made it possible for the City to enforce the regulation for every developer to follow in rebuilding these historic assets. Another advantage of the historic district designation is the tax-break for developers and new owners of residential buildings that attracts more people to believe that there is a future awaits of their tireless effort to rebuild these historic homes and storefronts.
Not all of the new homes are market rates housing. Although the number of federal funded homes in Over-the-Rhine has decreased in the last five years, there are many efforts to keep the balance of market-rate and affordable housing in the area. Mercy Housing, a national non-profit affordable housing developer, has bought properties from Mercy Health Center last year and plan to open 200 affordable apartments units in 2006.
These renovation efforts provide also homes for the arts and activities in Over-the-Rhine that stimulate creativity from the high quality buildings left from the past generation. But beyond that, preservation always pays more than new constructions. Donovan Rypkema, an economist and historic preservation expert, mentioned that in many cities, building rehabilitations creates more jobs than the same amount of new construction. In his book The Economics of Historic Preservations, he mentioned that in many states, building rehabilitations outperforms new constructions, measures through the number of jobs created, household incomes and impact on all other industries.
Historic preservation is no longer a luxury, but a successful method of economic development. Other inner-cities had made it, bringing balance to gentrification by providing affordable housing. In New Orleans, the local government has collaborated with local community-based organization, Seven Ward Community Services Corporation to rehabilitate 50 home for first-time home buyers in St. Peter Claver neighborhood, one of the oldest black neighborhoods in the country. (Nation's Cities Weekly, link: http://www.nlc.org/Newsroom/Nation_s_Cities_Weekly , October 19, 1998, Foxworth, Rodney Downey, Amy.)
Over-the-Rhine provides an ideal location for small businesses, especially with its storefronts and apartments over retail. It would make more sense to build and to support small and local businesses that will create more jobs for families and create a sense of community and retain the character of the place. In his book, Rypkema also mentioned that small businesses account more than 85% of all new job created. Strengthening civic leadership by supporting local businesses including starving artist sounds fit for Over-the-Rhine.
Now it’s the time to see the progress of revitalization in Over-the-Rhine by yourself. Enjoy the OTR Summer Tour of Homes on Sunday, June 5th, 2005. Don’t forget to stop by on Main Street and Findlay Market to shop, eat and mingle.
Copyright (c) Dyah Kartikawening, 2005.
Dyah Kartikawening, one of the believers, writes for iRhine.com, a community website to provide information for community, arts, development and businesses in Over-the-Rhine. Contact: dyah at irhine.com.
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