Cincinnati officials are moving ahead on efforts to replace the old Pogue’s Garage downtown with an apartment tower and grocery store – a project that seemingly hinged on proceeds from a stalled parking lease.
The city Planning Commission is scheduled to vote June 7 to lease the garage site, on Fourth Street between Elm and Race, to apartment developer Flaherty & Collins. The Indianapolis-based company would pay rent of $1 per year for 75 years, at which point it would have the option to buy the property for $1.
Flaherty would be responsible for tearing down the 45-year-old garage and replacing it with a 30-story, 300-unit luxury apartment tower. The tower would also include a 15,000-square-foot grocery store and 1,000 parking spaces.
The developer has not named the grocery store, saying only it’s not a major chain.
“The city wants to move the project forward as it accelerates growth for our local economy,” spokeswoman Meg Olberding said.
The city planned to contribute $12 million to the tower out of the proceeds of a controversial plan to lease its parking garages and meters to a group of outside operators. The parking lease was approved by City Council but has been held up by opponents battling it in court and via referendum.
[...] Council approved a budget Thursday that lays off 67 employees, and is pondering if and how to pay for a $17 million increase in the cost of the streetcar.
Deja vu, all over again. Ramsey is one of many towns being played. That Cincy pattern: firing people, spending on transit dreams, how to finance Flaherty's reluctance to self-finance; we in Ramsey have a bunch of former council members who could move to Cincinnati and feel entirely at home.
Earlier Crabgrass on Flaherty - Cincinnati, here and here.