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Over-The-Rhine (OTR) is a historic
neighborhood located just north of
Downtown Cincinnati. It is one of the
largest urban historic districts in the United
States and is known for its abundance of
architecturally significant buildings and
homes. The area has a rich cultural scene
due to its proximity to the Art Academy of
Cincinnati, the Cincinnati Symphony/Pops,
the Cincinnati Opera, the School for
Creative and Performing Arts, Memorial
Hall, and other artistic points of interest.
Historic Findlay Market (Ohio’s oldest
continuously operated public market) was
founded in 1852 and is of OTR’s most
cherished institutions. Surrounding Findlay
Market is the Brewery District, which
celebrates OTR’s brewing heritage (the
neighborhood was originally settled by
German immigrants in the mid-1850s). By
the early 2000s the neighborhood had
bottomed out with the highest crime rate
in the city and a landscape littered with
more than 500 vacant buildings and 700
vacant lots. It was so bad that director
Steven Soderbergh chose the OTR as the
location for the gritty drug scenes in his
2000 film Traffic.
36.9%
Millennial Population
$49,466
Average
Household Income
Over-the-Rhine:
A Craft Brewed Neighborhood
The revitalization of OTR began in 2003
through the formation of the Cincinnati
Center City Development Corporation
(3CDC), which combined public and
private resources to spur economic
development of distressed properties. To
date, 3CDC has invested more than $330
million into renovation, construction, and
development. That investment has
resulted in the opening of over 130 new
businesses (almost 40 in 2015 alone),
revitalizing the craft brewing industry in
Cincinnati through the likes of Taft’s Ale
House, and the Christian Moerlein and
Rheinegeist breweries. OTR has also
become a top destination for foodies. The
Food Network has highlighted local
eateries Senate (gourmet hot dogs),
Bakersfield (tacos, whiskey and tequila)
and Taste of Belgium (Belgian waffles) on
Diners, Drive-Ins and Dives.
We are currently tracking retail rents that
range from $16 to $40 per sf, but expect
these to keep climbing. OTR is a market
that is still in its ascendency. Developers
remain active in the area with over 1,000
new residential units either under
construction or in the planning stages.
Meanwhile, we continue to see millennials
embracing the live/work/play experience
of urban Cool Street neighborhoods.