CINCINNATI, OH (FOX19) - Downtown Cincinnati Inc. (DCI) released its ninth annual State of Downtown Report on Tuesday.
The 2012 report provides a comprehensive profile of downtown, highlighting measurements in the areas of: development, entertainment, transportation, retail, and office and residential information.
In 2012, one park opened and another reopened. Smale Riverfront Park and Washington Park together added 47 acres of green space to downtown and Over-the-Rhine. 59 new businesses opened last year, including Metropole at the 21c Museum Hotel and Reser Bicycle Outfitters in Over-the-Rhine. The estimated attendance at cultural and sporting events and festivals totaled 13,409,122, a 15% increase from 2011. More than $574 million in projects were under construction and scheduled for completion by 2014. Crime has been trending downward, with an overall reduction of 34% in the last ten years.
"Options for working in, living in and visiting downtown Cincinnati were expanded in 2012," said Gina Gartner, DCI's Director of Research and Information. "From the banks of the Ohio River to historic Over-the-Rhine, visitors, workers, and residents alike are experiencing an active and vibrant downtown."
Retail and Restaurants Update
59 establishments opened downtown and in Over-the-Rhine in 2012. New restaurants included Panera Bread and WG Kitchen & Bar; Igby's and Local's Bar & Grill added to the list of night spots; and Left coast Modern Cincinnati and Queen City Wine and Spirits augmented shopping options.
Crime in the Central Business District (CBD) has been trending downward for the past 10 years, with an average reduction of 9% in 2012 in Part 1 and Part 2 crimes over the previous year. There were 46% fewer burglaries, 18% fewer assaults, and 11% fewer thefts compared to 2011.
Arts, Culture, Sports and Entertainment
The largest international event in Cincinnati's history took place during the 2012 World Choir Games. Attendance at more than 200 choral events topped 208,000. Estimated attendance in 2012 at theaters, cultural attractions, sports and recreation venues, festivals and events totaled 13,409,122, a 15% increase compared to 2011.
Nine major projects totaled $185 million in investment in 2012 including the 21c Museum Hotel, Washington Park and Garage, and the Phyllis W. Smale Riverfront Park (Phase 1.) Additional projects, totaling $574 million, are currently underway. The redevelopment of the 580 Building at Sixth and Walnut Streets to a mixed-use of residential, office and entertainment space, and the new construction of the dunnhumbyUSA Centrex at Fifth and Race Streets are just two of many projects on the horizon.
The Reserve at Fourth and Race opened in November 2012 and rented its 88 upscale apartments in record time. 103 condominiums were sold in 2012 in the CBD, Over-the-Rhine and Pendleton, compared to 58 in 2011. The estimated downtown residential population reached 13,401.
Office and Employment
At least 1,091 new jobs were created in 2012 with the relocation of KAO USA, the opening of 21c Museum Hotel, and Mahogany's at The Banks, among others. Major lease transactions in 2012 totaled 151,673 square feet, 58% of which represented new businesses. There were an estimated total 61,308 employees in the CBD, Over-the-Rhine, and Pendleton.
Parking and Transit
Monthly parking rates in the CBD decreased by 11% in 2012, while daily parking rates remained at the same level as in 2011. Available and reserved downtown parking spaces increased by 444 to 36,917 spaces. Metro rider ship increased by 4.2% in 2012. ZipCar made six shared cars available downtown. Finally, Metro installed real-time arrival and departure update boards at Government Square.
Many key partners and organizations provide data for the report. For a complete list of contributors, access the full report at http://www.downtowncincinnati.com/Libraries/DCI_Publications/SOD_2012_FINAL-LR27-GINA.sflb.ashx