3CDC is a non-profit corporation whose purpose is to develop Cincinnati’s civic spaces and “continue (the) stabilization and transformation of historic and at-risk buildings to their original stature,” according to its 2010-2011 annual report.
It has invested more than $319 million in Over-the-Rhine and the Central Business District, with a vast majority of capital investment from some of Cincinnati’s largest Fortune 500 corporations.
However, Chad Munitz, executive vice president of developement and operations, declined to release how much each corporation contributes to 3CDC. The corporation plans to spend more than $100 million in 2012.
“We’re a little different than most urban redevelopment corporations around the country in the fact that we are completely private,” said Munitz. “The city has very open rules and regulations, but when you’re doing land acquisition and trying to figure out a strategy, it’s good to be able to be somewhat quiet in that strategic development.”
Munitz also cites the speed of redevelopment as a private corporation in comparison to being a public entity as a benefit.
Josh Spring, executive director of the Greater Cincinnati Coalition of the Homeless, said 3CDC has replaced a portion of city government where people can openly voice their concerns.
“In the past, when they did something really good or bad, we had a venue to talk to,” Spring said. “But when it was privatized, we don’t have that venue and they do what they will.”
And with Cincinnati’s largest corporations funding 3CDC through annual dues, Spring said they have a reason to benefit.
To date, the corporation has rehabilitated 74 of close to 500 vacant structures throughout Over-the-Rhine, according to Munitz.
“Most of the property owners abandoned the upkeep of the buildings so they were open to the elements in terms of the weather, but also open to criminal elements,” said Munitz, of New Philadelphia, Ohio.
“There was a lot of drug and prostitution activity.”
Restoring Over-the-Rhine to what it was 150 years ago, a vibrant center of culture and industrial and business entrepreneurship, is the ultimate goal of 3CDC, Munitz said.
“It was a great quality, mixed-income neighborhood and we’re very lucky to have the physical bricks and mortar still intact,” Munitz said.
Marquee projects
Of the more than $300 million in investment, three projects make up a lion’s share of the funding — Washington Park, Fountain Square and Mercer Commons.
Situated in the heart of Over-the-Rhine, Washington Park serves as a gathering point for the historic neighborhood and 3CDC has invested $47.5 million in its restoration. It’s scheduled for completion in the spring of 2012, according to 3CDC’s 2010-2011 annual report.
Included in the redevelopment will be a two-level, 450-space parking garage below the surface of the park to better serve “park visitors, patrons to Music Hall and the School for Creative and Performing Arts, as well as residents,” and local businesses, according to 3CDC.
Fountain Square, downtown’s primary civic space, underwent a $48 million redevelopment, which resulted in more than $150 million in private investment around the area, according to 3CDC. More than 225,000 people visited the square during the summer of 2010, according to 3CDC.
Mercer Commons, a $51 million project near the intersection of Mercer and Walnut streets, will be another mixed-use development. 3CDC, however, will likely need to demolish two historic buildings to make way for the project, which includes a parking garage.
Gentrification
With all of the rehabilitation, some residents and community leaders of Over-the-Rhine believe they are being pushed out.
In 2008, city council mandated the Cincinnati-Hamilton County Continuum of Care for the Homeless to address what council members said were “inadequacies of services for single homeless individuals in Cincinnati.” Now, the council’s Homeless to Homes project is beginning to move forward, albeit with some help.
“I remember a period when different rental agencies were steering people to different areas,” said Stephen Gentry of the Hamilton County area Homeless Congress. “I see the same process aimed at homeless people. It’s not just appearance, it’s reality.”
Wanda Cheatam, 58, and an Over-the-Rhine resident for her entire life, says she gets sick to her stomach every time 3CDC is mentioned.
“3CDC is building up everything down here and we get lost in the shuffle,” Cheatam said. “They are building condos and apartments and raising the rent, knowing local folks can’t afford them.”
Kim Davis, 40, who has been an Over-the-Rhine resident for the past 10 years, said 3CDC wants more higher-income people to move into the area.
“We can afford to be here if we work hard and stay — it’s half and half,” Davis said.
Munitz said 3CDC indeed does wants more socio-economic diversity in Over-the-Rhine.
“I probably have a different academic definition of gentrification,” Munitz said. “My view of it is pushing up prices and pushing people out, that’s not what we’re doing — we want a healthy neighborhood with mixed-income and the mix is as close you can get to 50-50.”
Spring wants the development to be more inclusive.
“When the choice is made to take buildings and make them something else, that’s no longer development — that’s gentrification,” Spring said.
Contact this reporter at (513) 755-5112 or kelgazzar@coxohio.com.
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