A $75 million development that will include retail and office space, high-end rental property and a hotel is planned for a now-dormant 3.2-acre parcel south of the University of Cincinnati. Clifton Heights Community Urban Redevelopment Corp. (CHCURC) has selected Towne Properties LLC for the project, saying Towne’s proposal meets the redevelopment organization’s overall plans for the area.

“As a general overarching theme, we’ve looked to mix as many uses into the business district as possible,” says CHCURC Director Matt Bourgeois. “We want something that will service both residents in the area and the students.” Towne Properties proposed 100 apartments, a parking garage, a 125-bed hotel, office space and 65,000 square feet of retail space at the site between Calhoun and McMillan streets. It’s too early for a firm schedule, Bourgeois said, but preliminary estimates for groundbreaking are for next spring.

“All the parties involved are dedicated to making this happen as quickly as possible, but it will take some time,” Bourgeois added.

CHCURC, a partnership between the Clifton Heights Business Association, CUF Neighborhood Association and the University of Cincinnati, is a small, nonprofit development corporation.
 

 
Tata Consultancy Services (TCS), India’s largest software exporter with more than 94,000 consultants in 47 countries, has chosen Ridgewood Corporate Center at 1000 Summit Drive in Miami Township for its North American Delivery Headquarters. TCS is part of the Tata Group of India, which has 96 companies worldwide and more than $22 billion in revenues. The Clermont County site is expected to employ at least 1,000 software engineers, pre-sales professionals and administrative support staff.

Sean Rugless, previously president of Cincinnati USA Regional Tourism Network, is the new president of the Greater Cincinnati & Northern Kentucky African American Chamber of Commerce. He replaces Steve Love, who resigned as the chamber’s leader late last year.

Site Selection magazine ranked Kentucky No. 8 in the nation in its 2007 Annual Business Climate Rankings. This is the third consecutive year the state ranked in the top 10. The list considers a combination of performance factors related to business. Site Selection is an international publication devoted to economic development.

Women and minority firms can apply for up to $40,000 to develop their idea into a business plan for a high-growth company through CincyTechUSA’s new IMAGINING grant. In addition to the money, the program will provide grant recipients with expert guidance and contacts through one of CincyTech’s seasoned Executives in Residence.

A Minority Business Engagement Advisory Board, consisting of local minority business leaders, has been formed through a partnership of the Cincinnati USA Regional Chamber and the Greater Cincinnati & Northern Kentucky African American Chamber of Commerce. The board will offer insight into key issues affecting minority businesses in the region and help the chambers increase understanding and responsiveness to those needs.

Terry Lundgren, chairman and CEO of Cincinnati-based Macy’s Inc., was named the Gold Medal retailer for 2007 by the National Retail Federation. This is the top award given to a retail executive by the trade association. Lundgren was recognized for his long career in retailing and success with expanding the Macy’s brand.

Local economic development news may be e-mailed to econdev@cincymagazine.com.