Unlike other Midwestern cities, who offer a broad diversity of downtown/near downtown neighborhoods, we have put all our eggs in the OTR basket. That follows a flawed idea that all companies are startups, all companies employ 25-30 year olds and they all want to ride, bike or walk to work. This is shortsighted and ignores the actual diversity in the workforce.
|Millennials are being priced out of the OTR real estate market as prices approach , or exceed 300 per square foot|
OTR's own success means it is rapidly pricing out the original target demographic that would help us attract new business. City leaders have essentially, put all their eggs in one basket. Does a neighborhood like OTR help us attract new business, absolutely. However, we are being extremely shortsighted to think it gives us some "magical edge". Every major midwestern city, Columbus, Indianapolis, Louisville have Urban neighborhoods , in fact they have multiple neighborhoods with price points well below 300 a sq. ft.
|Quality built historic housing stock like this is abundant in near downtown Cincinnati neighborhoods and can be restored/renovated and priced in the 100-150.00 a square foot range offering greater housing diversity and more neighborhood choices|
The idea that lower Price Hill has to stay the way it is with mostly rentals and low income, and not be a small "Georgetown" is shortsighted. For example we should be seeing construction of million dollar homes in the incline district and restoration of once single family homes back to upper/middle class residences. The same applies with Fairmount, Knox Hill, and Camp Washington all areas within an easy 5-10 minute commute to the city core.
If we delude our selves into believing that everyone wants to live right downtown, ride a bike, doesn't own a car, or have kids, we place ourselves at a competitive disadvantage.