2022 – A Look Back
As we kick off what is sure to be a busy year at The Port, let’s take a minute to review some of the notable milestones, projects, events, and more that shaped our year in 2022.
The Port closed on the purchase of nearly 200 single-family homes once owned by an out-of-town investor. The Port bid against 12 investors for the portfolio which had gone into receivership, and over the course of 2022, secured over $500K in rental assistance for tenants. The goal of this new CARE Homes Initiative (CARE = Creating Affordable Real Estate) is to transition current renters to homeowners, and in partnership with Working in Neighborhoods, 22 renters are currently in homeownership training.
Price Hill Will held a groundbreaking for the Warsaw Creative Campus, a $10M development which will include affordable apartments and commercial spaces anchored by the MYCincinnati Youth Orchestra Firehouse. The Port’s Public Finance team provided a capital lease supporting the project.
A soft-opening for the historic Flat Iron Building in Mt. Auburn showcased the beautifully restored building, now home to the Flat Iron Café and apartment units. The Port and its managed entity the Landbank stabilized the structure in 2018 before Neyer Holdings purchased the property for redevelopment. The redevelopment honors the unique architecture of the building and was awarded a 2022 Cincinnati Preservation Association Award.
The Homesteading and Urban Redevelopment Corporation (HURC), a managed entity of The Port, cut the ribbon on two new single-family homes in Lincoln Heights. These affordable homes are the first of a number of new homes HURC is building in the community.
We launched virtual tours of The Port’s work in multiple neighborhoods including Bond Hill & Roselawn, Evanston, and Walnut Hills. This interactive tool allows stakeholders to go on self-guided tours of projects across all of The Port’s business lines.
The Port’s Industrial Team celebrated two major milestones with the completion of demolition of the former Millennium Hotel downtown and the former Powell Valves complex in Camp Washington. Both demolitions are paving the way for new investment, job creation, and economic growth.
The Port completed work on six new market-rate townhomes on Loth Street in Mt. Auburn. Under an innovative development model, the profits from their sale will finance the construction of affordable homes on the same street.
The Hamilton County Landbank, a managed entity of The Port, was well represented at the 2022 Ohio Landbank Conference held in Cleveland. Members of The Port team presented on four panels at the conference and shared best practices with other Landbanks around the state.
The third class graduated from the ULI Cincinnati REAL Program, an industry-supported program designed to educate and mentor the next generation of Greater Cincinnati real estate professionals. The Port has been a proud sponsor of the program since its inception. Hear from graduate Jilson Daniels, vice president of economic equity, in our April 2022 Port Short.
Port President & CEO Laura Brunner presented at the prestigious Milken Institute Global Conference in California. She was joined by Dana Bezerra, president of The Heron Foundation, Hector Negroni, founder and CEO of Foundation Credit, Shawn Wooden, State of Connecticut treasurer, and Caitlin MacLean, senior director of innovative finance at the Milken Institute, to discuss ESG (Environmental, Social, and Governance) bonds for the public finance sector.
Habitat for Humanity held a dedication ceremony to welcome new homeowners to the West End. The Port and its managed entity the Landbank, in partnership with the City of Cincinnati, previously stabilized six historic rowhouses on Baymiller Street, including the two homes rehabbed by Habitat. This block is now well on its way to becoming a mixed-income residential street.
Laura Brunner and CEO of REDI Cincinnati Kimm Lauterbach joined Mayor Aftab Pureval to discuss the mayor’s proposal to allocate $7 million from the 2023 budget to support The Port and REDI in their efforts to attract advanced manufacturers with high paying jobs to our region.
Over 100 attendees joined us for our Real Estate Forum at TQL Stadium. A panel of local developers shared keys to successful partnerships on development projects.
The Port received six grants allocated by the Ohio Department of Development (ODOD) through the Ohio Brownfield Remediation Program to support the cleanup of multiple sites across Hamilton County. Additionally, the Homesteading and Urban Redevelopment Corporation (HURC), a managed entity of The Port, received a $300,000 HUD Grant enabling the construction of additional affordable single-family homes in Lincoln Heights.
The Port welcomed to Cincinnati the Lincoln Institute of Land Policy and its community of local and national investors to stimulate investment in our industrial and neighborhood revitalization business lines to expedite our efforts to mend broken real estate for the creation of jobs, homeownership, and equitable development throughout our region.
The Port’s CARE Homes Initiative was highlighted at a U.S. Senate Committee hearing with Laura Brunner testifying at the Committee on Banking, Housing, and Urban Affairs. Her testimony provided a community-focused perspective on the impact of institutional investors in the single-family home market and what can be done at the Federal level to address the affordable housing crisis.
The Port and partner Working in Neighborhoods (WIN) held the first CARE Homes outreach meeting with current tenants outlining pathways to homeownership and training.
The International Economic Development Council (IEDC), the world’s largest nonprofit association for economic developers, selected The Port as one of its 2022 Excellence Award winners. In the ‘Innovative Programs and Initiatives’ category, the IEDC named The Port a Bronze award winner for its CARE Homes Initiative.
Sleepy Bee opened in College Hill as part of the Keymark development transforming the College Hill Business District. The Port was a proud partner on this project with the College Hill Community Urban Redevelopment Corporation (CHCURC) and 8K Development.
The Port was named a ‘Best Places to Work’ finalist in the Cincinnati Business Courier’s annual employee survey to determine which Greater Cincinnati organizations rate the highest in workforce satisfaction. Thank you to our unrivaled staff and outstanding partners – we’re very proud of this first-time recognition for The Port.
The Port held an MBE Utilization Town Hall at the 1819 Innovation Center bringing together the top local general contractors and minority businesses (MBEs) for a candid discussion on how to increase the utilization of subcontractors in construction and development projects throughout the region.
The Port received the 2022 Excellence in Innovation Award from the Ohio Economic Development Association (OEDA) for the CARE Homes Initiative. The Excellence in Innovation Award recognizes unique approaches to any aspect of economic development.
Pennrose, a real estate developer and manager, held a ribbon cutting for the first phase of its development in College Hill. Phase I is complete with apartments now available. Phase II will consist of ownership units in the same community. The Port is proud to support this project through its Public Finance practice.
The Port received a CLIMB Award, “Fostering Generational Wealth through Homeownership,” from the Cincinnati Business Courier and Cincinnati Regional Chamber for its CARE Homes Initiative.
Jilson Daniels was named Advocate of the Year by the Ohio Minority Supplier Diversity Council (OMSDC) at its 2022 Gala. Jilson was recognized for his work to increase the number of minority-owned construction and real estate development firms working on projects in our region.
Lower Price Hill cut the ribbon on the LPH Thrives affordable housing development. The Port and Landbank are proud to have supported this transformative project.
The Port held an open house at 916 Findlay in partnership with BOC Development. This was BOC’s first Landbank rehab, and owner Nick Johnson has big plans for the West End. Our December 2022 Port Short features his mission-centric work towards rebuilding his community.
The Port received a record-setting $17.7 million grant from the Ohio Department of Development (ODOD) for demolition projects throughout Hamilton County. This funding will enable The Port and other organizations to unlock and reclaim dilapidated, forgotten sites and prepare them for future redevelopment.
Sale of the final parcel of the former Cincinnati Gardens site in Bond Hill was announced. Emerge Manufacturing will be home to a 50,000 SF manufacturing facility bringing 100 good-paying jobs to our region making personal protective equipment.
The U.S. Department of Housing and Urban Development (HUD) invited Laura Brunner to speak at its Office of Policy Development and Research Quarterly Update. Brunner, along with other experts, spoke on a panel discussing the negative impact institutional investors can have on housing markets nationwide.
We launched The Port’s 2021-2022 Impact Report, “Bold Pathways,” highlighting the achievements, numbers and stories behind our work to transform unproductive real estate for job creation, homeownership, and thriving neighborhoods.