Urban Cincy reported this morning that Mayor Mallory has selected the development company that will finance, plan, design,construct, operate and maintain Cincinnati’s Modern Streetcar System. The location of the streetcar would be on the northern end of the Downtown/Over the Rhine circulator which would head uptown from there. This is great news for Cincinnati Real Estate. The addition of a streetcar in Downtown Cincinnati is great news for Cincinnati Real Estate. The continual development and success of downtown will continue to attract the creative class, which could eventually lead to new businesses moving their headquarters to Cincinnati.
Cincinnati sits atop the list of the most vacant properties in a city. WCPO reported that there are about $4 million vacant properties nationwide. Cincinnati’s Over-the Rhine Neighborhood has the highest vacancy rate in the Tri-State area. Vacant homes can have a substantial impact on home values depending on their status. Foreclosures in particular can bring down neighborhood values simply becuase they will often for less money at auction.
My professional opinion about this situation as a Cincinnati Realtor is that property owners in areas where vacancy rates are elevated, can face delated property values. Before purchasing a property you should always be aware of the sales trend and vacancy rates in that specific area prior to signing any contracts.
Get the power to see more! Cincinnati’s MidPoint Music Festival (MPMF) announced today that music fans can now reserve a 3-day wristband pass offering the opportunity to see all performances for this year’s festival, September 25–27, 2008.
The $29 wristband pass, available for pre-order at mpmf.com, provides festival attendees access to 17 stages and concerts by all MidPoint bands. To order a wristband pass, click on the “SEE IT ALL” button on the MidPoint homepage. Venue admission is subject to legal capacity.
New Producers. New Features.
Cincinnati alternative newsweekly CityBeat is producing MidPoint Music Festival for the first time in the event’s seven-year history. New this year will be an expansion of venues into Downtown, along with many of the historic-Over-the-Rhine neighborhood locations used in the past. Two groups of stages are equally divided north and south of Central Parkway, making it easy to walk between venues, and festival transportation will also be available.
“MidPoint is dedicated to fostering growth within Over-the-Rhine and Downtown,” said Dan McCabe, executive producer. “All the recent discussion about Cincinnati possibly getting streetcars in the central part of the city led us to think it would be cool to show folks the proposed streetcar route, which conveniently works with these venues. It’ll give them a real taste of the streetcar movement.”
To demonstrate the potential of Cincinnati streetcars, MidPoint sponsor Scion is making 20 xB crossover vehicles available to help festival attendees cruise between the uptown and downtown clubs along the proposed streetcar route. Less walking means more listening.
