« Times, News still ignore the AY financials | Main | DDDB Press Release: Forest City Ratner Jumps Gun on Demolitions; »

March 2, 2007

What's next for Norwood?

The Cincinnati Enquirer

Here's one very BIG reason that Ratner's demolition of properties inside the footprint is premature and could have disasterous consequences for the neighborhood:

The barren acreage near the bustling commercial area beside Interstate 71 at Edwards and Edmondson roads looks like the land that time forgot.

It's been almost two years since the Rookwood Partners spent more than $20 million to buy and demolish all but three houses in the 75-parcel chunk of land in Norwood.

This time last year, the development group believed it would be building the Rookwood Exchange, a $125 million complex of offices, retail stores and condos on prime commercial real estate with easy access to two interstate highways.

Then last July, the Ohio Supreme Court shattered those plans with a precedent-setting eminent-domain decision that, for better or worse, will make urban redevelopment more difficult to accomplish in Ohio.

The court ruled in favor of three property owners fighting to prevent Norwood from taking their land by eminent domain and turning it over to the developers. The Rookwood Exchange can't be built with the holdouts' three houses there. And the Rookwood Partners say they have no plans now for the property.


Posted by lumi at March 2, 2007 11:46 AM