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 MASTER DEVELOPERAs master developer, 3CDC plans through how individual projects will successfully come together to create a cohesive redevelopment, adopting a holistic approach that leads to a proper mix of commercial, residential and public spaces working together to create a vibrant neighborhood.To implement the Over-the-Rhine (OTR) master plan, for example, 3CDC identifies land banking opportunities, oversees property acquisition, investigates redevelopment viability, engages developers, funds pre-development work and provides financing expertise and resources to complete the project. The actual construction phase of the projects are handled by the developer, but 3CDC, as the master developer, continues to manage the overall project and provide strategic direction for the on-going phases of the project. The sale and leasing of redeveloped property results in the repayment of loans, which allows additional development to be financed. The renovation in Over-the-Rhine is an example of 3CDC's role as a master developer. The vision for mixed-use redevelopment beginning at Central Parkway and Vine Street has led to an on-going block-by-block renaissance of Vine Street. In this role, 3CDC is planning ahead for what is needed next to insure a vibrant, successful mixed-use neighborhood that will meet the needs of current residents and businesses and attract new residents and businesses to the neighborhood. 3CDC's work on the 5th and Race project in Cincinnati's Central Business District is another example of an impending master development project. |
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