degree, in OTR, and many would argue that the entire area has benefited from the move. The neighborhood is still one of the largest, most intact urban his- toric districts in the United States and well-known for its unique and eclectic architecture and dedication to historic preservation. At the same time, hun- dreds of millions of dollars have been poured into creating new mixed-use, mixed-income developments and transit options like the Cincinnati Streetcar. These are not only providing afford- able housing in Cincinnati but are also playing a key role in attracting young professionals, often renters, to the area. As has historically been the case, such redevelopment has created a trend in relocation as these types of projects tend to eliminate at least some portion of available housing units. While the area is certainly not rife with tension anymore, accusations of gentrification still fly regularly. owners, too. “No matter what happens, this market is never going to go up 15 percent a year, and it’s never going to get decimated either,” he said. “Sure, foreclosures were high … but even then, rents did nothing but go up.” For real estate investors seeking a rental market on the verge of sustained, substantial growth, Cincinnati and the surrounding area offer significant hidden potential that could remain overlooked and, as a result, be had at an advantage by the sharp-eyed investor. •
From a real estate investor stand- point, however, OTR is probably as close as you could hope to come to an unqualified success story. The neigh- borhood’s success in redefining itself and successfully leveraging mixed-use, mixed-income development to im- prove the local economy and support the Greater Cincinnati economy can be viewed as a testament to how the
region’s community curation and long- term economic and real-estate-related planning is working. The neighborhood is one of the most in-demand areas of the city, and home values have risen more than 10 percent in the area over the past year. When judging by market rental rates alone, OTR now ranks as one of the most expensive rental mar- kets in the city.
CINCINNATI RESOURCESATAGLANCE
Real Estate Investors Association of Greater Cincinnati (REIAGC) www.cincinnatireia.com Ohio Real Estate Investors Association (OREIA) www.oreia.com Central Ohio Real Estate Entrepreneurs (COREE) www.centralohioreia.com Greater Cincinnati Northern Kentucky Apartment
Official Travel Guide of Cincinnati and Northern Kentucky cincinnatiusa.com Cincinnati Official Visitors Guide cincinnatiusa.com/Cincinnati-visitors-guide RealtyTrac www.realtytrac.com 1-800-550-4802 Trulia www.trulia.com U.S. Census – Quick Facts on Cincinnati www.census.gov/quickfacts/table/PST045215/3915000 Zillow www.zillow.com
Association (GCNKAA) gcnkaa.org/membership Cincinnati USA Regional Chamber www.cincinnatichamber.com Duke Energy Convention Center
www.duke-energycenter.com Sharonville Convention Center (Greater Cincinnati’s Only LEED-Certified Event Facility) sharonvilleconventioncenter.com
Carole VanSickle Ellis serves as vice president of research and analysis at the Self-Directed Investor Society, helping investors “declare independence from Wall Street.” Contact her at editor@bryanellis.com or visit sdiradio.com.
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