consultants are sandburs

Tuesday, December 16, 2014

Flaherty in Cincy redoing a deal. Scaled down with a new city administration in office, still subsidized, differently so.

There is public subsidy money.

Leopards do not change their spots.

This link. And here.

Irons in the fire, heating up in several towns, yet always - that subsidy sweetness.

UPDATE: bizjournals.com reports on the downsizing.

FURTHER UPDATE: cincinnati.com reports, and with a pleasing subsidy in the works the word is:

Flaherty & Collins chief executive David Flaherty said the company loves Cincinnati and sees how new residences would make Downtown more vibrant. "We're pleased to be where we are today," Flaherty said.

Flaherty said the development company wants to build a signature multifamily development in Cincinnati that will feature resort-quality amenities. He said developments have the potential to attract people who aren't living in the area to Downtown, and he expects the site to attract people who have average annual incomes of about $100,000 a year. Rents are expected to be between $1,400 and $2,500 a month.

In Cincinnati, Flaherty & Collins also developed the 302-unit Boulevard at Oakley Station apartments, which opened earlier this year.

While building designs for Fourth and Race are still being developed, Flaherty & Collins vice president Jim Crossin said the highrise will have a modern look with lots of glass to provide residents great views of the city.

Let's see - that's "a signature multifamily development," which is no less than "resort quality," "with lots of glass to provide residents great views."

And a subsidy for good measure.

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