Throughout 2024, Uptown Consortium, Inc. (UCI) is featuring NMTC projects in the Uptown Updates newsletter to mark its 20th anniversary. UCI uses these credits to breathe new life into Uptown Cincinnati through the creation of new jobs, housing, retail centers and essential healthcare services. In this month’s feature, UCI is focusing on four projects in the Corryville neighborhood that are integral anchors of the Short Vine Business District. Read below to see the transformation.
Short Vine Revitalization: $6.7 million in NMTCs
Today, people flock to the Short Vine Business District daily to shop, dine, stay and live, making the business district a hub of economic activity in Uptown. However, Short Vine once experienced a steep decline as neighborhood retail shops shut their doors and second-hand stores, pawnshops and nightclubs moved in, diminishing the area’s safety and overall appeal. Implementing the first phase of a revitalization plan for the Short Vine Business District was one of UCI’s earliest projects, utilizing NMTC financing to acquire and rehab a portfolio of dilapidated and vacant properties. These acquisitions laid the foundation for attracting new investors and businesses to the area. At the time, the direct community benefit was the opening of eight eateries, 108 rental housing units and two office tenants. 45 full-time jobs were created within two years of completion. Now, Short Vine is an established entertainment district, with over 50 locations to eat, drink, shop, do business and enjoy entertainment.
"The renovations, community involvement, and attention given has created a safer and more secure environment, light years ahead of where it was, for the thousands of new students arriving at the University of Cincinnati each year, growing the community,” said John Clifton, President, Short Vine Association.
Hampton Inn & Suites Hotel: $21.4 million in NMTCs
The revitalization plan’s critical tactics included strategic tenanting, improved housing opportunities and investment in infrastructure improvements. UCI was intentional in anchoring both ends of Short Vine, with Kroger and the Hampton Inn. Opening in 2010, the 132-room hotel and 219-space public parking garage brought in much-needed commercial activity, helped attract additional investments to the neighborhood and created 30 jobs. Today, it provides visitors with a place to stay in the area for work and/or play.
Views on Vine: $20 million in NMTCs
In the heart of the street was a former public school that had become a vacant, blighted building. To increase residential and commercial activity in the community, Views on Vine, a 102,417-square-foot mixed-use development, was developed by Uptown Rental Properties and North American Properties. Opening in 2013, the development features 104 rental housing units and 17,417 square feet of first-floor retail, including Fifth Third Bank and El Vaquero Mexican Restaurant. Within two years of opening, 20 full-time jobs were created. Additionally, a $10,000 annual scholarship fund was created for Uptown residents to attend the University of Cincinnati during the 7-year NMTC compliance period.
Kroger: $12.5 million in NMTCs
Kroger serves as Corryville’s primary grocery store, ensuring access for residents and students without vehicles and preventing food desertification. The original store had become outdated, presenting a significant opportunity to transform the space and provide new amenities. The 73,000-square-foot store opened in 2017, offering a wider variety of items and enhanced amenities, including a Little Clinic, drive-thru pharmacy, upper-level taproom, Murray’s Cheese shop, Starbucks and more. Doubling the size of the original structure, it features innovative additions like a vertical garden "living wall.” UCI’s NMTC investment was vital in helping the grocer decide to maintain and expand the store. Within two years of completion, the store employed 232 employees, with over half living within three miles of the store.
“Kroger is proud of our continued collaboration with Uptown Consortium, Inc. to support economic development in the Short Vine Business District and Corryville neighborhood. We remained committed to increasing access to fresh and affordable food for the community and investing in good-paying jobs for our associates to grow their careers,” said Jenifer Moore, Corporate Affairs Manager, Cincinnati-Dayton Division, The Kroger Co.
What’s next for UCI’s NMTC projects?
Since 2009, UCI has been awarded $195 million in NMTCs, driving an estimated $2 billion of additional investment into the community. In 2023, UCI was the sole Cincinnati organization among three Ohio entities to receive $20 million in NMTCs. UCI continues its commitment to revitalizing Uptown, with its most recent investments including the Blood Cancer Healing Center and the YWCA Domestic Violence Shelter. For updates on UCI’s future NMTC projects, visit the NMTC page on UCI’s website and follow Uptown Consortium on LinkedIn and Facebook.