state of downtown report

2011

partnersDowntown Cincinnati Inc. thanks the following individuals and organizations for their assistance in compiling the 2011 annual State of Downtown Report:

4C for ChildrenApartment Realty AdvisorsCincinnati’s arts, culture, sports and entertainment venuesCincinnati Multiple Listing ServiceCincinnati USA Convention & Visitors BureauCincinnati USA Regional ChamberCity of CincinnatiColliers InternationalShertok Design, Inc.Smith Travel ResearchXceligent, Inc.

Photos courtesy of:5chw4r7zCraig BeachlerMark BowenCincinnati USA Convention & Visitors BureauCincinnati RedsCurrent at the Banks/Village GreenDan Ledbetter Photography Eagle Realty GroupThadd FialaJayson Gomes, cincyimages.comPhillip Groshong, Cincinnati OperaThe Public Library of Cincinnati and Hamilton County, Main LibraryMetroRyan Noga, Go VibrantErin O’BrienMichael Providenti, Queen City BikePhillip Ranley, Towne PropertiesDavid SidersRandy Simes, UrbanCincy.comCraig Weiglein, Taft Theatre

The data presented in this report is derived from many sources, including reports by the media and information collected directly from organizations where available. To provide us with more accurate data on any information contained in this report, to request information not contained in this report, or to place your name on our e-mail list for future report mailings, please send an email to SODreport@downtowncincinnati.com.

Please visit DCI’s website for other publications at downtowncincinnati.com.

Also visit these websites for additional information on downtown Cincinnati:• choosecincy.com• cincinnati-oh.gov• cincinnatichamber.com• cincinnatiUSA.com• cincyusa.com• ilivedowntown.com• myfountainsquare.com

About Downtown Cincinnati Incorporated

DCI is a non-profit organization with a mission to build a dynamic metropolitan center valued as the heart of the region. DCI supports this mission by providing unique services in three areas: safe and clean, marketing and communications, and stakeholder services. The organization is funded by the property owners in the Downtown Cincinnati Improvement District, which includes all property within the boundaries of Eggleston Avenue, Central Parkway, Central Avenue, and the Ohio River.* DCI provides leadership and information regarding community and development issues, working together with public and private partners to ensure long-term downtown vitality.

*Excluding Great American Ballpark and Paul Brown Stadium.

1

contents 2 Introduction

4 Live

12 Work

20 Play

28 Destination: Downtown

33 On the Horizon

22

A business district, an entertainment hub, and a vibrant, livable neighborhood, downtown Cincinnati is where locals live, work and play. For out of town guests, downtown offers the experience of an historic city center with the modern, urban amenities that make Cincinnati a top destination for corporate and organizational meetings. With revitalizing development stretching from the Ohio River to Over-the-Rhine and new, sustainable modes of transit set to connect all points in between, downtown Cincinnati is abuzz with activity and excitement for a bright future.

2011 saw more downtown residents, new businesses bringing more daytime workers, and more people visiting downtown for fun. An evolving nightlife scene with restaurants, bars, and arts and cultural events serves diverse tastes. Street festivals in the Central Business District and Over-the-Rhine are attracting more pedestrian traffic, and retail is on the rise. Today, more than ever, public perception surveys, incoming businesses, lease renewals and expansions, and thriving retail and entertainment attendance reflect the reality that downtown is safe, clean and welcoming.

In 2011, as a result of strong community engagement, ongoing partnerships and increasing investment, stakeholders celebrated a successful downtown that is more accessible and inclusive than ever before. With the World Choir Games coming in July, downtown Cincinnati is staged to open its doors to visitors from around the world in 2012 and beyond.

introduction

33

About This Report

Downtown Cincinnati Inc. is pleased to present the eighth annual State of Downtown Report. This report serves as an annual “snapshot” with the goal to provide a comprehensive profile that assists stakeholders with their continued success in downtown Cincinnati. The 2011 State of Downtown Report is organized into sections which represent the key ways in which people interact with downtown: Live, Work, Play and Destination: Downtown (transportation). The report includes data on residential issues; safety and cleanliness; development; office and employment; retail and restaurants; conventions and hotels; arts, culture, and entertainment; and access and parking. This year we have added a special feature called On the Horizon, which highlights upcoming projects.

More people are choosing

to make downtown

Cincinnati their home. The

2011 estimated downtown

residential population

reached over 13,000

individuals, a 12% increase

over the previous year.

More than 600 residential

units were completed in

the downtown area,

from new apartments at

Current at The Banks to

rehabbed, historic condos

in Over-the-Rhine.

4

live

5

About This Map:

Residential data reported in the 2011 State of Downtown Report is focused on the growing neighborhoods of the Central Business District (CBD), Over-the-Rhine (OTR) and Pendleton (PEN).

OTR

CBD

PEN

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

20112010200920082007

OTR and PENCBD

year

popu

latio

n 8,154 8,375

9,026

11,848

13,214*

DownTown PoPulATIon esTIMATe

*2011 Downtown Population Estimate = 2011 total number of units x average residents per unit, based on the 2010 U.S. Census.

over 80% of respondents reported an overall positive impression of downtown in 2011, with key indicators of perceptions of downtown as safe and clean on the rise.

6

80%

67%

73%

72%

69%

66%

48%

46%

63%

58%

70%

60%

0 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2011 2010

Clean overall

Safe overall

Ambassadorsare visible

Policeare visible

Improvingevery year

Overallpositive

impression

PeRCePTIons AbouT DownTown

Source: 2011 Perceptions Survey conducted by LaVerdad Marketing & Media for Downtown Cincinnati Inc. For more detailed findings, visit downtowncincinnati.com.

7

safe, Clean and Green:

In 2011, the city welcomed Chief James E. Craig, and the Cincinnati Police Welcome Center at The Banks became the new home to the Cincinnati Police Department’s Special Events Department, the Downtown Services Unit (renamed the Central Business Section in 2012) and horse and bike patrols.

Crime in the Central Business District has been trending downward for the past ten years, with an overall reduction of over 25% in Part 1 and Part 2 crimes. In that time, Part 1 theft crimes, including shoplifting, have accounted for 58% of the crimes in the CBD.

Downtown was kept clean and green spaces were maintained in 2011, thanks in part to the efforts of the City of Cincinnati’s Public Services Department, Cincinnati Parks, and Downtown Cincinnati Inc. Ambassadors. Keep Cincinnati Beautiful awarded the Central Business District an average score of 1.1 on the litter index, on a scale of 1 to 4 with 1 being the cleanest. This average score has been consistent in the CBD for the past five years.

Source: Cincinnati Police Department. Note: Part 1 crimes are defined as more serious crimes, but include crimes such as shoplifting in which no use of force or violence occurs; Part 2 crimes are defined as “quality of life” crimes, which include aggressive panhandling and vandalism.

0

500

1,000

1,500

2,000

2,500

2011201020092008200720062005200420032002

year

1,310

474

Part 1 Crime Part 2 Crime

CbD CRIMe sTATIsTICs

8

Apartment Rentals: As of December 2011, the rental units at Current at The Banks had reached over 98% occupancy. Throughout the CBD, the average market rent per unit increased by 9%, from $923 in 2010 to $1,019 in 2011.

*Source for 2010 Total Units: 2010 U.S. Census

units

neig

hbor

hood

0 1,000 2,000 3,000 4,000 5,000 6,000

PEN

OTR

CBD

2010 Total Units* Completed in 2011 2011 Under Construction

3,738

4,650

653

ToTAl ResIDenTIAl unITs

APARTMenT suRvey - CenTRAl busIness DIsTRICT*Total Number of Properties Surveyed 15

Total Number of Units Surveyed 2,357

Average Number of units/property 157

Weighted Occupancy 96.4%

Average rent/unit $1,019.00

Average rent/sq. ft. $1.11

Source: Apartment Realty Advisors semiannual survey of the multifamily investment market, reported August 2011. *Central Business District includes five properties in NKY and Mt. Adams.

9

Condominiums Sold Single Family Homes Sold

year

num

ber

sold

0

10

20

30

40

50

60

70

20112010200920082007

54

42

60

27

18

0 0 0 1 0

CbD ResIDenTIAl unIT sAles

Source: Cincinnati Multiple Listing Service (MLS)

Condominiums Sold Single Family Homes Sold

year

0

10

20

30

40

50

20112010200920082007

num

ber

sold

21

46

39 37

39

12

4

7

10

4

oTR ResIDenTIAl unIT sAles

Condominiums Sold Single Family Homes Sold

year

num

ber

sold

0

1

2

3

4

5

6

7

20112010200920082007

1

4

5

3

1

3 3

0

6

3

Pen ResIDenTIAl unIT sAles

schools: Growing downtown families can select from diverse educational options for children. Within a two mile radius of downtown, there are over 130 child care options, including licensed centers, preschools, school-age programs, and family child care providers. For older students, there are over 30 public and private elementary, middle, and high schools within five miles.

10

year

aver

age

selli

ng p

rice

Condominiums Single Family Homes

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

20112010200920082007

$300,641 $297,699 $304,235$311,491

$257,535

$0 $0 $0

$185,000

$0

CbD AveRAGe sellInG PRICes

year

aver

age

selli

ng p

rice

Condominiums Single Family Homes

201120102009200820070

$50,000

$100,000

$150,000

$200,000

$250,000

$168,458

$131,213

$193,980

$168,145 $164,173 $167,638$172,188

$105,925

$157,885

$103,500

oTR AveRAGe sellInG PRICes

Pets: Fido Field on Eggleston Avenue, the first officially sanctioned off-leash, dog recreation area in downtown, opened in 2011, an effort led by the Fido Field Committee and the Downtown Residents Council, and co-sponsored by Procter & Gamble.

year

aver

age

selli

ng p

rice

Condominiums Single Family Homes

201120102009200820070

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000$249,900

$272,477

$185,817

$282,500

$203,820

$118,407

$0

$126,150

$165,047$147,067

Pen AveRAGe sellInG PRICes

Source: Cincinnati Multiple Listing Service (MLS)

11

worship: There are over fifteen places of worship in downtown Cincinnati representing diverse faiths and denominations, including the St. Xavier Church shown here.

Community: Members of the Downtown Residents Council, as part of the Great American Cleanup and in cooperation with the Office of Councilmember Laure Quinlivan, dedicated more than 140 hours to help beautify and improve wayfinding on the ‘Path to the Taft’ in 2011.

12

workDowntown development is on the fast track. Over $577 million was invested in 2011, and more

than $700 million in projects are under construction and scheduled for completion by 2013. In the

Central Business District alone, over 830,000 square feet of gross leasing activity, with transactions

averaging 15,000 square feet, contributed to signs of recovery in commercial real estate. The arrival

of companies like Omnicare and Nielsen added 1,100 workers to a dynamic daytime population

in the CBD. Renewed and expanded commitments to downtown from fast growing businesses

like First Financial Bancorp and dunnhumbyUSA will continue to bring new jobs, adding to an

improving employment outlook both downtown and across the region.

13

2011 ReGIonAl offICe sTATs Inventory of Rentable sq. ft. vacancy Rate Average Rental Rate 2011 net Absorption

Blue Ash 4,553,708 17.2% $18.53 85,696

CbD 18,008,286 17.6% $19.21 (63,819)

CBD - Periphery 3,498,638 28.6% $17.41 (42,948)

East 2,454,545 18.5% $15.48 57,379

I-71 Corridor North (of I-275) 4,058,537 23.2% $18.73 130,533

I-75 Corridor North (of I-275) 2,247,624 11.4% $20.12 11,437

Kenwood/Montgomery 2,070,071 14.2% $22.36 (55,614)

Midtown 3,317,554 15.2% $17.40 34,784

Northern KY 7,366,882 19.5% $18.25 (47,509)

Tri-County 4,754,848 31.2% $15.75 (39,820)

West 774,742 22.8% $18.04 (19,956)

Source: Colliers International. 2011 data is from Q4 Cincinnati Office Report.

MAjoR 2011 leAse TRAnsACTIons: CInCInnATI CbD Company location sq. ft. Type

Omnicare Atrium I 165,000 Relocation

First Financial Bank First Financial Center 85,700 Relocation

Nielsen Chiquita Center 77,700 Relocation

Vorys, Sater, Seymour and Pease Great American Tower 60,000 Relocation

Weltman Weinberg & Reis Co. 525 Vine Street 37,400 Expansion

Strauss & Troy Federal Reserve Bank Building 37,000 Renewal

FRCH Design Worldwide 311 Elm Street 33,800 Renewal

Rendigs, Fry, Kiely & Dennis, LLP Center at 600 Vine 25,900 Relocation

Clark Schaefer & Hackett One East Fourth Street 22,000 Relocation

ToTAl 544,500

Source: Xceligent, Inc. Please note: This list comprises leases exceeding 20,000 sq. ft. that were signed in 2011. Start dates of occupancy vary.

2011 CInCInnATI CbD offICe sTATs Inventory of Rentable sq. ft. vacancy Rate Average Rental Rate 2011 net Absorption

Class A 8,815,068 18.9% $23.37 262,765

Class B 6,232,749 12.2% $15.83 (64,261)

Class C 2,960,469 25.7% $11.84 (262,323)

Source: Colliers International. 2011 data is from Q4 Cincinnati Office Report.

The CbD is now headquarters to

ten fortune 1000 companies—

seven of which are in the

fortune 500:

n Kroger (No. 25)

n Procter & Gamble (No. 26)

n Macy’s (No. 107)

n Fifth Third Bancorp (No. 326)

n Omnicare (No. 371)

n Western & Southern Financial (No. 456)

n American Financial Group (No. 489)

14

1 The Banks (Phase IA) Riverfront MIX $85.00 2011 2 The Banks (Phase II Public Infrastructure) Second Street ACC $24.00 2011

3 City Home (Phase I) 1406-1422 Pleasant Street RES $3.95 2011 4 City Home (Phase IB) 1401 Race Street MIX $1.60 2011 5 Friar’s Court 1623 Republic, 1616 Race, 1626 Race, 23 Green Street RES $4.30 2011 6 Great American Tower Corner of Fourth & at Queen City Square Sycamore Streets MIX $340.00 2011

7 McFarland Lofts 304 McFarland Street RES $1.80 2011 8 OTR Development (Phase I - IV) 1400 Race Block, 4 acres around Vine & Mercer MIX $86.70 2011

9 Residence Inn Cincinnati Downtown 506 East Fourth Street CEE $15.00 2011

10 Saengerhalle 1400-16 Race Street OFF $8.30 2011 11 Taft Theater 317 East Fifth Street CEE $3.20 2011 12 Westfalen Lofts 1418-1422 Race Street RES $3.38 2011 13 21c Museum Hotel 609 Walnut Street CEE $56.00 2012 14 The Banks (Phase II Private) Riverfront MIX $62.00 N/A 15 City Home (Phase II) Pleasant Street RES $2.16 2012 16 East Sixth Street Properties 114, 118, 122 East Sixth Street CEE $14.60 2012 17 The Edge 310 Culvert Street OFF $10.00 2012 18 Horseshoe Casino Broadway Commons CEE $400.00 2013 19 John Weld Peck Federal Building 550 Main Street OFF $34.00 2013 20 Moerlein Lager House 115 Joe Nuxhall Way CEE $10.00 2012 21 Park Haus Washington Park Area RES $5.18 2012 22 The Reserve at 4th and Race (Federal Reserve Building) Corner of Fourth & Race Streets MIX $16.50 2012

23 Rothenberg Preparatory Academy East McMicken Avenue & Main Street CEE $17.00 2013 24 Smale Riverfront Park (Phase 1) Riverfront CEE $30.00 2012 25 Washington Park (includes Garage) Washington Park CEE $48.00 2012 26 15th & Republic 1427,1428,1437 Republic Street & 13 West 15th Street RES $4.80 2013

27 Abington Flats 33 Green Street RES $3.80 2014 28 Anna Louise Inn 300 Lytle Street RES $12.40 2012 29 The Banks (Phase IB-Office) Riverfront OFF $50.00 N/A 30 The Banks (Phase IC-Hotel) Riverfront CEE $30.00 N/A 31 The Banks (Phase ID-Residential) Riverfront RES $10.00 N/A 32 Casino Area Public Infrastructure Improvements Broadway Commons & Pendleton Areas ACC $22.90 2013

33 Cincinnati Streetcar CBD/OTR ACC $110.00 2014 34 City Hall Events Atrium 801 Plum Street CEE $4.40 2014 35 City of Cincinnati Parking Garage Sycamore Street between Seventh & Eighth ACC $11.50 2013

36 Holiday Inn Hotel Corner of Broadway & Seventh Streets CEE $14.00 2013 37 Mercer Commons East 13th & 14th Streets, between Vine & Walnut Streets MIX $53.50 2013

38 Music Hall Revitalization 1243 Elm Street CEE $165.00 2014 39 Nicolay Corner of 14th & Republic Streets MIX $2.30 2013 40 Paint Building (Cincinnati Color Building) 1400 Vine Street MIX $4.20 2012

41 Parvis II 1400 Block Republic Street RES $2.60 2013 42 Smale Riverfront Park (Phase 2-5) Riverfront CEE $90.00 2018 43 Westfalen Lofts II 1400 Race Street MIX $6.20 2013

See map on next page.

Co

MPl

eTeD

un

DeR

Co

nsT

Ru

CTI

on

PRe-

Dev

elo

PMen

T/PR

oPo

seD

Completion/ Investment Anticipated Project name Address Type ($M) Completion

$897M

$658M

$102M

$54M

$168M

Access/Parking (ACC)

Cultural/Entertainment/Education (CEE)

Mixed Use (MIX)

Office (OFF)

Residential (RES)

$897M

$658M

$102M

$54M

$168M

Access/Parking (ACC)

Cultural/Entertainment/Education (CEE)

Mixed Use (MIX)

Office (OFF)

Residential (RES)

2011 CbD DeveloPMenT by PRojeCT TyPe

DownTown DeveloPMenT

Note: Includes projects with a disclosed amount of $1 million or more. Mixed Use (MIX) are developments with multiple uses, for instance a building with retail on the ground floor and office or residential above.

15

1

3

33

8

16

3925

22

24

23

28

37

27

38

9

12

19 17

26

18

20

21

32

142

4 10

5

67

13

15

2930 31

42

11

34

35 36

40

4143

DownTown DeveloPMenT

Development Highlights:

The Horseshoe Casino Cincinnati at Broadway Commons broke ground on February 4, 2011. The 354,000 sq. ft. casino will employ 1,700 workers and will feature 2,300 slot machines, 72 table games, 3 street-side restaurants, and a 33,000 sq. ft. second level meeting space.

The Great American Tower at Queen City Square opened on January 1, 2011. The 41-story, 800,000 square foot skyscraper has been precertified as Gold by the U.S. Green Building Council under the acclaimed LEED (Leadership in Energy and Environmental Design) program. The building is currently 90% leased.

16

ClAss A - CInCInnATI CbD offICe InvenToRy % vacant yTD Absorption weighted Rate

2007 18.0% 153,957 $21.79

2008 16.7% 120,250 $21.61

2009 18.2% (125,860) $21.77

2010 19.0% (50,447) $21.89

2011 18.9% 262,765 $23.37

ClAss b - CInCInnATI CbD offICe InvenToRy % vacant yTD Absorption weighted Rate

2007 14.1% 56,487 $14.66

2008 18.2% (146,618) $14.58

2009 19.7% 35,557 $15.00

2010 15.3% (29,545) $15.80

2011 12.2% (64,261) $15.83

Source: Colliers International. 2011 data is from Q4 Cincinnati Office Report.

office Market net Absorption: Although the total net absorption for the year fluctuated, the office market did see positive net absorption during the fourth quarter. Average Class A and Class B rental rates rose slightly over 2010.

financial Institutions Transactions:

First Financial Bancorp doubled its office space, moving its headquarters from Atrium One to 255 East Fifth Street—renamed First Financial Center. The bank will also open its first downtown branch on the ground floor of the building in 2012.

Bank of Kentucky opened its first Ohio branch in 2011 at the high profile corner of Fourth and Walnut.

17

2011 u.s. RenTAl RATes: CbD ClAss AWashington DC $52.85

New York City (Downtown Manhattan) $48.17

Boston $47.75

Los Angeles $38.52

Houston $35.29

Chicago $35.00

Denver $28.04

Philadelphia $26.41

Portland $25.20

Dallas/Ft. Worth $25.00

Cincinnati $23.37

Atlanta $22.73

Nashville $22.57

Raleigh/Durham $22.56

Detroit $22.46

Cleveland $20.68

Kansas City $19.57

Indianapolis $19.27

Columbus $18.80

St. Louis $17.78

Memphis $16.65

2011 u.s. vACAnCy: CbD ClAss A & b Dallas/Ft. Worth 23.7%

Nashville 22.7%

Detroit 19.4%

St. Louis 19.1%

Cincinnati 19.0%

Cleveland 18.5%

Los Angeles 18.0%

Atlanta 17.9%

Memphis 17.9%

Houston 16.6%

New York City (Downtown Manhattan) 15.9%

Boston 15.8%

Chicago 14.1%

Kansas City 13.0%

Denver 12.7%

Philadelphia 11.7%

Washington, DC 10.5%

Indianapolis 9.8%

Portland 8.4%

Raleigh/Durham 5.8%

Columbus 2.9%

Downtown small business in the news:

Downtown-based Libertas Technologies LLC was among three Cincinnati businesses to receive the “Blue Ribbon Small Business Award” from the U.S. Chamber of Commerce. The software development and consulting firm was recognized for the third consecutive year for its role in creating jobs, growing the economy and improving the lives of employees, customers and the community.

The Cincinnati USA Regional Chamber named Traction LLC, a brand-design firm in Over-the-Rhine, Emerging Business of the Year in 2011. Pep, a promotion and management firm located in the Central Business District, won Minority Business of the Year. Pep was also recognized with a 2011 Silver ADDY Award from the Cincinnati American Advertising Federation.

Source: Colliers International Q4 2011 North America Highlights

18

work

year

0

5%

10%

15%

20%

25%

20112010200920082007

vaca

ncy

rate

Cincinnati CBD U.S. CBD Cincinnati Sub U.S. Suburban

16.6

%

11.2

%

19.8

%

14.0

%

17.7

%

14.7

%

21.8

%

15.4

%

19.4

%

14.5

%

23.3

%

17.4

%

21.9

%

14.8

%

24.3

%

16.7

%

19.0

%

13.7

%

20.7

%

15.6

%

u.s. AnD CInCInnATI offICe vACAnCy RATes

0

$5

$10

$15

$20

$25

20112010200920082007

rent

al r

ate

year

$23.

02

$15.

87

$11.

79

$23.

20

$15.

93

$11.

72

$21.

77

$15.

00

$11.

74

$21.

90

$15.

80

$11.

72

$23.

37

$15.

83

$11.

84

CBD Class A CBD Class B CBD Class C

Average CBD All Classes Average Regional Rental All Classes

CInCInnATI CbD offICe RenTAl RATes

Source: Colliers International. 2011 data is from Q4 Cincinnati Office Report.

19

Versatex LLC, a staffing firm with offices across

the nation and its corporate headquarters on

Ninth Street, won a nine-figure contract from

consumer products giant Procter & Gamble,

the largest contract P&G has ever awarded to a minority-owned firm.

CInCInnATI DownTown woRkeRs CBD 55,266

CBD, OTR and PEN 60,218

Source: OntheMap, an application from the U.S. Census Bureau Longitudinal Employer-Household Dynamics (LEHD) program, in partnership with state labor market information agencies.

Note: Employment numbers fluctuate from year to year. Employment data available in this application is about 18 months in arrears. Includes workers with primary jobs in the defined area. Approximately 21% of workers live more than 25 miles from downtown.

In 2011, visitation increased with

more people choosing downtown

as a gathering place for conducting

business and having fun. People

filled the streets, from Sawyer

Point to Fountain Square, to the

Brewery District, for festivals and

events which attracted more than

1,632,800 visitors. Twenty eight

new establishments opened in the

Central Business District offering

additional retail, dining, nightlife

and services such as fitness and

personal training. The Cincinnati

USA Convention & Visitors Bureau

estimated an economic impact,

based on room nights booked

in 2011, of $61 million.

20

play

21

Retail leasing: Tiffany & Co. renewed its lease in 2011 at its 7,500-square-foot retail space at Fountain Place.

Dining51%

Shopping29%

Services21%

DownTown ReTAIl MIX

DInInGBars/Nightclubs 31

Coffee/Bakeries/Ice Cream 21

Lunch Restaurants 65

Fast Casual Dining 19

Full Fare Restaurants 44

Private Membership Clubs 2

Banquet Rooms 6

ToTAl 188

sHoPPInGAntiques/Auction Houses 3

Apparel/Shoes/Accessories 27

Department Stores 4

Gifts/Books/Novelty 28

Home Furnishings/Art 10

Jewelry/Furs 10

Food Convenience Markets 19

Pharmacies/Newsstands 6

ToTAl 107

seRvICesBeauty 26

Fitness/Health 12

Eyewear 5

Auto Care/Home Repair 6

Car/Bike Rentals 3

Florists/Wedding 4

Libraries 3

Pets 2

Tickets/Travel 4

Wireless/Electronics 6

Cleaners/Tailors/Shoe Repair 6

ToTAl 77

DownTown ReTAIl AvAIlAbIlITy base sf Available sf % Available

2011 3,011,603 136,269 4.52%

2010 2,988,441 137,529 4.60%

2009 2,403,000 278,923 11.61%

2008 2,403,035 208,338 8.67%

2007 3,098,350 213,289 6.88%

Source: CBRE

22

2011 new DownTown esTAblIsHMenTs name Address

Al-Amir Cafe 410 Vine Street

Bar 5.0.6 506 E. Fourth Street

Blush Boutique 613 Race Street

Cincy by the Slice 825 Main Street

Court & Main Market 139 E. Court Street

Everyone Massage 602 Main Street

Face It Spa 229 W. Ninth Street

Gallery in the Sky 310 Culvert Street

Greek to Me 125 E. Court Street

Holy Grail Tavern & Grille 161 Joe Nuxhall Way

Humler & Nolan 28 W. Fourth Street

Hustler Hollywood 18 E. Seventh Street

Istanbul Grill (formerly Turquoise) 628 Vine Street

Jimmy G’s 435 Elm Street

Johnny Rockets 191 E. Freedom Way

Luxe 601 Main Street

Over Vine 21 E. Fifth Street

Play 35 E. Seventh Street

Queen City CrossFit 18 W. Seventh Street

Servatii Cafe 511 Walnut Street

Slammin’ Burger 28 W. Fourth Street

Snap Fitness 24-7 15 E. Seventh Street

Sparkling Wireless 608 Main Street

Subway 250 E. Fifth Street

Sungarden Lounge 151 W. Fifth Street

The Center 115 E. Fifth Street

Walnut Street Grill 631 Walnut Street

What If Gift Solutions 580 Walnut Street

ToTAl 28 opened

CbD DAyTIMe PeDesTRIAn CounTs

pedestrians

inte

rsec

tions

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000

4th & Plum

8th & Elm

7th & Main

4th & Race

9th & Main

Vine & Court

6th & Walnut

7th & Vine

Fountain Square

5th & Vine

4th & Walnut

6,012

7,200

5,804

5,013

5,175

4,412

4,530

5,184

3,583

3,949

3,133

2,627

2,482

2,871

2,382

2,686

2,206

3,062

1,127

1,022

935

1,256

2010

2008

Source: Brandstetter Carroll. Note: As of 2010, pedestrian studies are conducted by Downtown Cincinnati Inc. on a biennial basis.

23

ToP 10 ConvenTIons HosTeD In 2011 (by Total Hotel Room nights)Group Room nights economic Impact

Educational Testing Service 22,856 $6,811,088

Prince Hall Shriners 19,515 $5,815,470

State Wars Hockey 9,360 $2,789,280

GovEnergy 6,759 $2,014,182

IBPO Elks of the World 6,723 $2,003,454

V-Twin Expo 6,244 $1,860,712

LULAC 5,857 $1,745,386

North American Christian Convention 5,760 $1,716,480

American Jail Association 4,585 $1,366,330

National Society for Histotechnology 4,545 $1,354,410

ToTAl 92,204 $27,476,792

Conventions: Downtown Cincinnati hosted the League of United Latin American Citizens (LULAC), which held its annual convention in downtown Cincinnati June 27–July 2. The six day event drew total attendees of up to 20,000, according to LULAC, including U.S. government officials and the former president of Mexico, Vicente Fox.

Hotels: The first new downtown hotel in nearly thirty years, the Residence Inn by Marriott Cincinnati Downtown, opened in March 2011. A renovation of the former Phelps Apartments, built in 1926, the hotel features 134 extended stay suites and views of Lytle Park and the Ohio River.

yeAR-enD HoTel CoMPARIson Avg. occupancy Avg. Rate/night RevPAR* 2010 2011 2010 2011 2010 2011

Downtown 62.2% 62.9% $117.98 $122.56 $73.41 $77.04

Gr. Cincinnati 53.1% 55.5% $83.61 $86.39 $44.44 $47.92

Cincinnati USA (OH-KY-IN)

52.3% 55.6% $84.54 $84.71 $44.24 $47.11

National 57.8% 60.1% $98.08 $101.64 $56.47 $61.06

*RevPAR: Revenue per available room Source: All hotel and convention data provided by Cincinnati USA Convention & Visitors Bureau.

DownTown HoTels Hotel Rooms

Millennium Hotel Cincinnati 872

Hilton Cincinnati Netherland Plaza 561

Hyatt Regency Cincinnati 486

Westin Hotel Cincinnati 456

Garfield Suites Hotel 152

The Cincinnatian Hotel 146

The Residence Inn by Marriott Cincinnati Downtown 134

Source: All hotel and convention data provided by Cincinnati USA Convention & Visitors Bureau.

24

eConoMIC IMPACT of ToTAl CbD RooM nIGHTs bookeD

0 $10 $20 $30 $40 $50 $60 $70

2007

2008

2009

2010

2011

year

millions of dollars

$52

$56

$59

$60

$61

ToTAl Cvb RooM nIGHTs AnD GRouPs bookeD

Total Room Nights

Groups Booked

room

nig

hts

year

room

s bo

oked

0

50,000

100,000

150,000

200,000

250,000

201120102009200820070

50

100

150

200

250

160

141

130

138 141

176,

061

187,

887

198,

219

200,

317

205,

586

HoTel oCCuPAnCy RATes

0

10%

20%

30%

40%

50%

60%

70%

20112010200820082007

DowntownGr CinciCinci USANational*

63%

56%

53%

58%

60%

55%

55%

60%

55%

51%

52%

57%

58%

52%

53%

62%

60%

56%

56%

63%

year

occu

panc

y ra

te

*PricewaterhouseCoopers Hospitality Directions Report January 2012

DownTown HoTel PeRfoRMAnCe

20112010200920082007$50

$55

$60

$65

$70

$75

$80

Avg. RoomRate/Night

RevPAR*

year

rate

/nig

ht

revP

AR

$100

$105

$110

$115

$120

$125

$130

$73.62 $73.89

$66.25

$73.41

$77.04

$126

.97

$124

.14

$115

.32

$117

.98

$122

.56

25

Arts & Culture HIghlights:

The Main Library of the Public Library of Cincinnati and Hamilton County had a total circulation of 5,966,955 books and other materials, up 15% from 2010. Visits were also higher in 2011— up 4%, program attendance was up by 7% and sales at the Library Friends’ Shop increased by 8.6%.

Attendance at the Cincinnati Reds set a new single-season record with 12 sellouts, totaling 2,213,498 fans in 2011. Great American Ball Park also hosted Paul McCartney’s On the Run Tour in early August, where more than 40,000 enjoyed the first major concert held at the ballpark.

The Taft Theatre renovation was completed in September 2011, at a cost of $3.2 million, including the installation of new seating and the expansion of restrooms. With the planned revitalization of Music Hall, the Taft Theatre will be temporary home to the Cincinnati Symphony Orchestra.

With visitation at Findlay Market steadily rising over the past five years, the historic market saw an increase in attendees in 2011 of 10% over the previous year. Shoppers spent an estimated $30 million at Findlay Market during 2011 with 35 full-time, year round merchants, 58 local farmers and cottage food producers, and more than 70 seasonal and part-time vendors.

The Betts House, located at 416 Clark Street in the oldest surviving brick building in Cincinnati, hosted The Big Shake – How the 1811–1812 New Madrid Earthquakes Rocked the Ohio River Valley. The Big Shake was the best attended exhibit at The Betts House to date, resulting in an increase in paid attendance, up 36% from 2010.

26

THeATeRsorganization 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011

Children’s Theatre of Cincinnati 91,663 105,230 97,654 80,000 86,000

Cincinnati Arts Association* 223,737 239,203 205,000 172,164 225,000

Cincinnati Ballet 55,687 40,739 45,516 54,576 53,676

Cincinnati May Festival 15,944 15,663 14,563 11,123 11,325

Cincinnati Opera 30,435 25,072 25,907 21,410 22,675

Cincinnati Playhouse in the Park 214,069 207,614 188,336 188,327 194,512

Cincinnati Shakespeare Company 14,632 16,069 16,765 17,800 22,681

Cincinnati Symphony Orchestra/ Cincinnati POPS 171,000 229,368 192,000 190,875 185,255

Ensemble Theatre Cincinnati N/A 24,145 30,270 30,020 27,539

Fifth Third Bank Broadway Across America – Cincinnati 332,000 296,157 212,800 194,698 144,935

Know Theatre of Cincinnati 6,100 5,154 5,615 5,808 3,523

School for Creative & Performing Arts 13,903 10,324 8,699 10,200 14,150

Showboat Majestic 20,401 17,905 15,127 14,886 15,331

TOTAL 975,502 1,232,643 1,058,252 991,887 1,006,602

CulTuRAl ATTRACTIonsorganization 2007 2008 2009 2010 2011

Cincinnati Art Museum 232,937 245,247 228,745 203,212 272,352

Fire Museum of Greater Cincinnati 7,453 9,041 8,990 8,998 9,632

Cincinnati Museum Center 1,200,000 1,310,000 1,484,607 1,308,658 1,572,554

Contemporary Arts Center 61,283 54,364 44,167 57,848 55,388

National Underground Railroad Freedom Center 162,427 138,016 113,873 113,213 109,500

Taft Museum of Art 54,017 59,139 54,263 52,625 56,107

The Betts House N/A 969 1,363 1,234 1,390

Krohn Conservatory 162,091 273,903 294,890 336,572 283,169

Main Library/Public Library of Cincinnati & Hamilton County 1,137,533 1,344,302 1,408,323 1,363,971 1,419,754

Mercantile Library 4,358 4,411 3,591 5,517 4,288

TOTAL 3,022,099 3,439,392 3,642,812 3,451,848 3,784,134

*Does not include Cincinnati Symphony Orchestra/Cincinnati Pops, Cincinnati Ballet, Cincinnati Opera, Cincinnati May Festival or Broadway in Cincinnati.

ARTs AnD CulTuRe ATTenDAnCe

27

sPoRTs AnD ReCReATIon venuesorganization 2007 2008 2009 2010 2011

Cincinnati Bengals 656,790 645,583 684,557 589,897 475,541

Cincinnati Reds 2,058,593 2,058,632 1,747,919 2,060,550 2,213,498

Findlay Market 580,873 612,230 760,421 802,862 881,409

Riverfront Events/Cincinnati Park Board* 573,083 545,255 527,087 739,911 900,000

Riverfront Daily Park Users 150,000 150,000 175,000 175,000 200,000

US Bank Arena 472,635 564,909 524,792 539,397 516,970

TOTAL* 4,491,974 4,576,609 4,419,776 4,907,617 5,187,418

fesTIvAlsorganization 2007 2008 2009 2010 2011

Black Family Reunion 85,000 75,000 50,000 42,000 47,000

Cincinnati Brew Ha-Ha N/A 8,000 13,000 15,000 17,500

Fine Arts Sampler Weekend** 9,470 13,794 14,260 14,000 9,579

Cincinnati Fringe Festival 6,500 6,610 7,541 6,734 7,500

MidPoint Music Festival*** 40,000 13,000 15,000 20,000 22,800

Oktoberfest Zinzinnati 500,000 500,000 500,000 500,000 500,000

Riverfest 300,000 250,000 250,000 250,000 250,000

Bluesfest 11,000 11,000 11,000 15,000 16,500

Taste of Cincinnati 500,000 500,000 500,000 500,000 500,000

TOTAL 1,451,970 1,377,404 1,360,801 1,362,734 1,370,879

fountain square - 3CDC 2010–2011

PNC Summer Music Series 148,000

U.S. Bank Ice Rink 50,000

Macy’s Light Up the Square 25,000

Toyota’s New Year’s Eve 15,000

Downtown Dazzle 15,000

TOTAL**** 253,000

over the Rhine neighborhood festivals 2011

Second Sundays on Main 7,000

Go OTR 5K Summer Celebration 1,000

Bockfest 1,000

TOTAL 9,000

*Events included but not limited to philanthropic walks, music festivals and cultural festivals not otherwise listed.**Only includes downtown venues/events. ***2007 attendance included year-round promotional events (in addition to September music series).****Including these series, there were a total of 430 events on Fountain Square in July 2010–June 2011. In all, over 2 million people were estimated to be in attendance throughout the year.

ARTs AnD CulTuRe ATTenDAnCe (continued)

28

destination: downtown

Getting to and around

downtown became easier

and greener in 2011 with

expanded parking options and

innovations in transportation.

Monthly parking spaces in

the Central Business District

totaled over 36,000 by year

end, with the opening of

new facilities at The Banks

and Queen City Square. An

attractive $25 monthly parking

rate from the OKI Regional

Council of Governments

and Hamilton County

Commissioners incentivized

carpooling. And Metro

introduced the first of 14 new

hybrid buses, which helped

to reduce greenhouse gas

emissions by an estimated

823 tons.

29

The average monthly parking rate in garages

and surface lots downtown increased this

year, on par with the national average.

CBD parking inventory totaled over 36,000

parking spaces, with new facilities at The

Banks and Queen City Square increasing

options for monthly parkers.

For short term parkers, the City of Cincinnati added 1,400 new “card and coin” parking meters, accepting both credit/debit cards and coins.

The first ten minutes are FREE.

nATIonAl MonTHly AnD DAIly PARkInG suRvey: unReseRveD PARkInG RATes MonTHly DAIly Market Median % Change from 2010 Median % Change from 2010

Atlanta $95.00 2.2% $12.00 0.0%

Boston $438.00 3.1% $34.00 6.3%

Chicago $289.00 -9.7% $32.00 3.2%

Cincinnati $160.00 6.7% $10.00 2.6%

Cleveland $140.00 -9.7% $8.50 1.4%

Columbus $110.00 -12.0% $10.00 0.0%

Dallas $85.00 0.0% $10.25 2.5%

Denver $175.00 0.0% $16.00 0.0%

Houston $153.00 4.8% $14.50 20.8%

Indianapolis $120.00 4.3% $12.00 -7.7%

Los Angeles $209.00 -0.2% $30.00 1.2%

Memphis $57.00 0.0% $4.00 0.0%

New York $533.00 0.8% $30.00 -3.2%

Philadelphia $303.63 1.2% $26.00 0.0%

San Diego $170.00 0.0% $26.00 0.0%

San Francisco $375.00 0.0% $26.00 4.0%

Washington, DC $260.00 6.1% $18.00 20.0%

National Average $155.22 -0.2% $16.12 0.8%

Source: Colliers International Note: This list is a sampling of the cities included in the national average. Survey only includes covered and underground parking garages located in CBDs.

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

20112010200920082007

year

park

ing

spac

es

aver

age

pric

e

0

$20

$40

$60

$80

$100

$120

$69

$62

$64

$67

$103

Available Spaces CBD Average PriceTotal Spaces

35,091

31,170

31,618

30,203

36,473

CInCInnnATI CbD MonTHly PARkInG AnD PRICes

Note: Reflects average price and availability for monthly contract parking in surface lots and garages as of January 2012. 2011 price increase due in part to the inclusion of new facilities at Great American Tower and The Banks.

30

0

$5

$10

$15

$20

20112010200920082007year

rate

CincinnatiNational

$15.

38

$8.0

0

$15.

42

$9.5

0

$15.

96

$9.5

0

$16.

36

$9.7

5

$16.

12

$10.

00

CbD DAIly PARkInG RATes

CbD MonTHly PARkInG RATes (MeDIAn)

0

$50

$100

$150

$200

20112010200920082007

$152

.38

$100

.00

$153

.79

$125

.00

$154

.23

$127

.50

$161

.56

$150

.00

$155

.22

$160

.00

year

rate

CincinnatiNational

Source: Colliers International

The Banks Public Partnership celebrated the opening of a new parking facility at Freedom Way and Race Street, adding 729 parking spaces to the Central

Riverfront Garage system. Now completed,

Freedom Way runs east and west from Great

American Ball Park at Main Street (Joe Nuxhall

Way) to Paul Brown Stadium at Elm Street,

creating greater accessibility for Riverfront

residents and visitors.

31

Metro and TANK worked together to provide a comprehensive map of public transit routes supporting travel to, from and throughout downtown. Metro also improved service to riders by

adding new fareboxes to allow for smartcards and is

introducing new technology that will provide real-time

information for downtown routes in 2012.

32

A study released by The Atlantic Cities showed a 200% increase in bike commuting in Cincinnati over the last decade. Among 22 cities recognized nationwide in 2011, Cincinnati received “Honorable Mention” at the 2011 Bicycle Friendly Community awards held in Washington D.C. To better serve downtown Cincinnati bike commuters and visitors, the Cincinnati Bike Center at Smale Riverfront Park, an indoor, two level facility with showers, lockers, and hundreds of bicycles for rent, opened in April 2012.

Not just for getting from point A to point B, walking got a push from Go Vibrant, a health-focused public awareness campaign that encouraged downtown workers to take a break and hit the sidewalks.

33

With new projects springing up across downtown, new corporate tenants, more modern modes of transit on the way, and more options for entertainment than ever before, 2012 is shaping up to be the biggest year yet for downtown.

n 2012 world Choir Games – CVB expects 45,000 room nights and an economic impact of $73.5 million. (July 4–14, 2012)

n bunbury Music festival – 100 live performances of local indie bands and national acts performing throughout Sawyer Point and Yeatman’s Cove. Upwards of 30,000 people per day are expected to attend the three-day inaugural event. (July 13–15, 2012)

n kAo usA Inc. – Headquarters of KAO USA, part of Tokyo-based KAO Corp., will move its headquarters to 55,000 sq. ft. on three floors of the 312 Plum Street Buildings. 200 employees will move and 50 additional jobs will be created. (Summer 2012)

n Reserve at 4th and Race – 88 luxury apartments on 13 floors to rent for $800 to $2,100 per month. (Summer 2012)

n east sixth street Properties – Redevelopment of the historic Maisonette restaurant, soon to be home to the new Boca and a 16,000-square-foot, four-story lounge and nightclub, by Four Entertainment Group (4EG). (2012)

n 21C Museum Hotel – 156 rooms, 8,000 sq. ft. of art exhibition space, restaurant and spa. (Late 2012)

n bus Rapid Transit (bRT) – Regional plan by Metro in cooperation with the City of Cincinnati, OKI Regional Council of Governments, Cincinnati USA Regional Chamber, Agenda 360 and Vision 2015, and TANK. To provide faster connections and more customer amenities along major corridors. (First corridor to open 2012)

n Horseshoe Casino Cincinnati – $400 million investment. 354,000 total sq. ft. Caesar’s Entertainment expects 6 million visitors per year.

n Cincinnati streetcar – 3.6 mile route will include The Banks, 18 stops between downtown and OTR, and level floor boarding for accessibility. (2014)

n dunnhumbyusA – New building at Fifth and Race, to include a public parking garage, street-level commercial space, and potential residential. (Late 2014)

n Music Hall Revitalization – Renovation of 144-year performance venue including infrastructure repairs. Expected to take five years for completion. (To begin 2014)

on the horizon

35 East Seventh Street, Suite 202Cincinnati, OH 45202

513.421.4440www.downtowncincinnati.com