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Cincinnati Business Courier
U.S. Bank’s top Cincinnati leader to retire
U.S. Bank’s top Cincinnati leader and former local market chief is retiring.<\p> Mike Prescott, the Minneapolis-based bank’s commercial banking East region leader who was previously U.S. Bank’s Cincinnati market president, told me he will retire this fall. U.S. Bank (NYSE: USB) announced Prescott’s decision to employees two weeks ago.<\p>
Five things you need to know today, and becoming a parent
Good morning, Cincinnati. I hope you’ve been enjoying this incredible weather. Here are five business news stories you need to know.<\p> Adam Gelter, executive vice president for real estate, and Lann Field, vice president for development, are exiting 3CDC, Chris Wetterich reports. New leadership in the form of Katie Westbrook, who started as an intern at 3CDC 12 years ago, will take over. Three other internal employees are also changing their leadership profile.<\p>
Cincinnati's first new-format Macy's store sets opening
Retail giant Macy's Inc. is getting ready to open its first small-format store in the Cincinnati area.<\p> The Macy's at 2719 Edmondson Road in the Rookwood Commons will host its grand opening Aug. 24, according to Macy's website. <\p>
Fifty West Brewing announces grand opening of third location: PHOTOS
A well-known Tri-State brewery is announcing the grand opening of its third location this weekend. <\p> On Saturday, Fifty West Brewing Co. is celebrating the opening of its new restaurant and taproom in Deerfield Township, located at 5224 District Park Drive. <\p>
UC Health completes $60M emergency department overhaul: PHOTOS
UC Health has fully opened its newly renovated, $60 million emergency department after completing phase two of construction last week.<\p> UC Health had split emergency department functions across two floors during the renovation process. With that now complete, the emergency department now works from 6,000 square feet on the first floor. It includes a new mass decontamination space, increased emergency department capacity, a helipad and more.<\p>
One of downtown's largest skyscrapers to get a glow-up
Kroger Co., one of Cincinnati's largest public companies, is changing the look of its downtown Cincinnati skyscraper.<\p> Sayer Crompton, director of storytelling and visual communications at downtown-headquartered Kroger (NYSE: KR), wrote on LinkedIn that the nation's largest operator of traditional supermarkets will begin installing new signage on its Vine Street headquarters building.<\p>
One of region's largest developers announces leadership change
One of Greater Cincinnati’s largest real estate developers has named a new chief operating officer, who will also serve as president of the company. <\p> Corporex, based in Covington, Aug. 21 named Brett Blackwell to the dual roles, effective Sept. 1, according to a media release. The president title is new for Corporex, with Blackwell the first to serve in it, according to a spokesperson.<\p>
SEE INSIDE: Massive Oakley apartment project welcomes first residents
Interior construction is complete on the first building at Graphite Oakley, located on the site of the former Milacron foundry at Oakley Station.<\p> The development, which carried a $59 million price tag as of 2022, will deliver 316 upscale apartments across five buildings when work wraps up early next year. <\p>
Staff shakeup hits 3CDC
Two of the Cincinnati Center City Development Corp.’s top real estate executives are departing, with Katie Westbrook set to take charge of the nonprofit developer’s efforts in Cincinnati’s urban core.<\p> Adam Gelter, 3CDC’s executive vice president for real estate, will depart at the end of 2024. He already is working on starting a consulting business with the leaders of Model Group, another key urban core developer, as he transitions out of the organization. <\p>
Why the nation's child-care crisis largely comes down to real estate
More than half of Americans live in a child-care desert.<\p> That sobering statistic from public policy research and advocacy organization Center for American Progress underscores how tough it's become to access child care across America. <\p>
Cincinnati brokerage team leaves parent company, moves downtown
An Over-the-Rhine-based brokerage team focused on multifamily properties has joined Cushman & Wakefield, the region’s largest real estate firm. <\p> Stash Geleszinski, formerly managing partner of Capstone Apartment Partners’ Cincinnati office, will join Cushman & Wakefield as a managing director. Geleszinski’s full team, including brokers Nathan Murphy, Sherief Gouda and William Thurner and analyst Nash St. Clair, will make the transition as well. <\p>
Five things you need to know today, and saying goodbye to a legend
Good morning, Cincinnati. Fall is in the air. At least for a few days. Let’s celebrate with five of the top business news stories you need to know from yesterday: <\p> A decades-old Greater Cincinnati homebuilder will be sold to a current employee following its owners’ departure from the business. Sharonville-based Ashford Homes, the region's 11th-largest homebuilder, will transition ownership Jan. 1, 2025, when Candi Mancini’s purchase of a majority stake in the business takes effect. The move comes as current owners Jack Rupp and Michael Ward are retiring.<\p>
One of Cincinnati's largest law firms taps partner from local group
One of Cincinnati's largest law firms announced it is welcoming a new partner to expand its global brand protection capabilities.<\p> Thompson Hine LLP added Ted Remaklus from the local boutique intellectual property firm, Wood Herron & Evans. It's also welcoming Julie Valdes as an associate.<\p>
$100M CVG-area project gets a boost
A planned $100 million industrial project on 270 acres of Cincinnati/Northern Kentucky International Airport land has received a $2 million grant, which will help build out the infrastructure needed for development.<\p> CVG’s Site 7, west of its runway and North Bend Road in Hebron, has been a concept going back to 2019 when the airport approved a development agreement with the Paul Hemmer Co. Hemmer’s investment is estimated to be $100 million, with up to 2.5 million square feet of space, Adam Hemmer, president of Hemmer’s Roebling Development Co., told the Business Courier. <\p>
'Cincinnati’s got a right to win:' Startup chiefs talk local ecosystem
The Cincinnati Business Courier’s sister publication Cincy Inno, which highlights the region's fastest-growing, hottest and most innovative companies, hosted its Inno on Fire event Monday, Aug. 19.<\p> Dozens of attendees, including startup founders, gathered at University of Cincinnati’s 1819 Innovation Hub to hear Cincy Inno Editor Liz Engel and a panel of industry professionals discuss Cincinnati’s Innovation District and its startup ecosystem.<\p>
Scaffolding up at Fourth & Walnut Centre; here's where project stands
Crews have erected scaffolding around the vacant Fourth & Walnut Centre downtown, but a plan to convert the office building to a mixed-use hotel is not yet ready to move forward.<\p> “The scaffolding is for routine maintenance on the property,” said Peter Mathon, a spokesman for the developer, Texas-based NewcrestImage LLC. <\p>
Cracker Barrel-owned restaurant with brunch-style comfort food opens
A Cracker Barrel-owned chain serving brunch-style comfort food has opened its second Greater Cincinnati restaurant.<\p> Maple Street Biscuit Co. celebrated its grand opening Friday, Aug. 16, at its Mason Montgomery Road location in Deerfield Township, according to Business Courier news partner WKRC-TV. It’s the restaurant brand’s fifth location in Ohio but only the second in the area. Maple Street Biscuit opened in Florence last year.<\p>
One of Cincinnati's largest homebuilders to sell business
A decades-old Greater Cincinnati homebuilder will be sold to a current employee following its owners’ departure from the business.<\p> Sharonville-based Ashford Homes, the region's 11th-largest homebuilder, will transition ownership Jan. 1, 2025, when Candi Mancini’s purchase of a majority stake in the business takes effect. <\p>
Cincinnnati biohealth startup to triple in size, move into expanded HQ
A precision medicine company founded just four years ago has unveiled plans to more than triple its headcount in Mason amid significant business growth. <\p> Mira Precision Health will add 29 new jobs and $2.79 million in new payroll over the next three years and expand into 9,000 square feet of additional space in the Mason Tech Elevator at 5155 Financial Way, according to a media release. <\p>
SEE IT: Artist describes meaning behind Newport's huge new mural
Corporex at its Ovation development has unveiled the first of four planned murals from a local artist who gained fame at Blink and has worked with ArtWorks more than 20 times. <\p> The murals are the first tangible instance of placemaking at the 25-acre riverfront development as Corporex begins to turn the page from construction site to destination with emphatic use of color, art, sound and architecture. <\p>
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