About 3CDC Cincinnati Center City
Development Corporation

Background

The Cincinnati Center City Development Corp. (3CDC) is a 501(c) 3, tax-exempt, private, non-profit corporation. Its mission and strategic focus is to strengthen the core assets of downtown by revitalizing and connecting the Fountain Square District, the Central Business District and Over-the-Rhine (OTR).

3CDC was formed in July 2003, recommended by a City of Cincinnati Economic Development Task Force as part of an overall system to increase the effectiveness and efficiency of development activities in the City of Cincinnati. Then Mayor Charlie Luken and members of the Cincinnati corporate community joined together to create 3CDC, agreeing that the economic future of Cincinnati depended first and foremost on a strong and vibrant downtown business and entertainment district.

Its operations are funded privately, through a combination of corporate contributions, management fees, and below-market developer fees. In November 2004 the staff of 3CDC accepted the daily, operating responsibilities for two private investment funds, the Cincinnati New Markets Fund (CNMF) and the Cincinnati Equity Fund (CEF). These loan funds are geared toward downtown redevelopment and spurring economic development in distressed and struggling neighborhoods.

3CDC works collaboratively with the City of Cincinnati and the State of Ohio. Also among 3CDC’s partners are members of the Cincinnati corporate community. Cincinnati is fortunate to have a very strong and engaged base of corporate leadership. More than 30 corporate leaders make up 3CDC’s Board of Directors, and are vital to 3CDC's existence and success.

 

3CDC'S Goals and Objectives

>> CREATE GREAT CIVIC SPACES

>> CREATE HIGH DENSITY/MIXED-USE DEVELOPMENT

>> PRESERVE HISTORIC STRUCTURES AND IMPROVE STREETSCAPES

>> CREATE DIVERSE, MIXED-INCOME NEIGHBORHOODS SUPPORTED BY LOCAL BUSINESS

 

3CDC Historic Milestones

July 2003: 3CDC Founded.

April 2004: Steve Leeper, then the executive director of Pittsburgh’s Sports and Exhibition Authority, is hired by the 3CDC Board of Directors to serve as President & CEO.

November 2004: 3CDC accepts responsibility for overseeing management of CNMF and CEF, two private loan funds targeted for downtown and urban redevelopment.

March 2005: 3CDC begins land banking abandoned, vacant, dilapidated and problem properties in Over-the-Rhine for future redevelopment.

October 2006: The $48.9 million renovation of Fountain Square is completed. The newly redesigned Fountain Square Garage and Plaza is rededicated and reopened to the public.

March 2007: Approximately 100 new condo units and more than 23,000 square feet of commercial space comes on line as part of 3CDC’s first two phases of mixed-use development in OTR.

May 2008: PNC Bank sponsors the Fountain Square Summer Music Series, bringing live music to the Square five nights per week and establishing it as an entertainment destination for the region.

February 2011: Saengerhalle, three historic buildings transformed into a 32,750-square-foot office and restaurant complex, becomes 3CDC’s new home.

July 2012: The $48 million renovation and expansion of Washington Park is completed. The park is re-opened to the public with a new 450 space parking garage, which had opened in March 2012.

October 2012: 21c Museum Hotel Cincinnati opens the doors on a 156-room boutique hotel and public art museum.

June 2014: Construction on the first two phases of Mercer Commons is completed, yielding a total of 67 apartments (30 of which are affordable units), 23 condominiums, 5 townhomes, 14,500 square feet of commercial space, and a 340-space parking garage.

December 2014: As the demand for office space in OTR grows, 3CDC relocates once again, after backfilling its former space and renovating the former Pabst Bedding Warehouse at 1201 Walnut Street into 28,000 square feet of office and restaurant space.

May 2015: Following Kroger’s purchase of dunnhumbyUSA, the new organization is renamed 84.51° and initiates occupancy of its new offices at the corner of Fifth and Race streets. The 84.51° building provides the CBD with a new 1,100 space garage and more than 300,000 square feet of office and retail space.

October 2015: The David & Rebecca Barron Center for Men opens, the third brand new shelter built as part of the five-facility Homeless to Homes Plan, joining the Esther Marie Hatton Center for Women and City Gospel Mission, completed in June and July, respectively.

February 2016: Project leaders officially break ground on the $32 million overhaul of Ziegler Park. Located on Sycamore Street between the OTR and Pendleton neighborhoods, the 18-month renovation will expand the park from 1.5 to 4.5 acres and add a 450-space underground parking garage.

May 2016: Music Hall is officially closed for a $135 million renovation led by 3CDC. The overhaul of the 140-year-old historic structure is expected to take 18 months.

July 2016: The historic Central Parkway YMCA reopens to the public after undergoing a 19-month, $29 million renovation spearheaded by the YMCA, 3CDC, and The Model Group.

August 2016: The 500-space 8th & Sycamore Garage officially opens to the public. 3CDC developed the seven-story, above-grade garage as part of a larger $52 million mixed-use development.

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