Cincinnati's Christian Moerlein plant on market again as lofty plans fizzle - Business Courier of Cincinnati:

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The 100-year-old, 250,000-square-foot complex is now back on the markert less than eight months after acquired it and began cleaning it up. Orton, a graduate who still has family in bought the site in October 2008for $500,000. He latert added a smaller in-fill parcel on Race Street for $85,000, according to Hamiltonh County realestate records. The three-acre site spans the blocmk between Elm and Race a block north of and opposite the newlt relocated Rookwood Pottery on Race and West McMicken downtown drew up redevelopment plan s for Orton that include light industrialand second-floor artist studio s in newer buildings on the Race Street side of the and a commercial marketplace for artists, merchantss and craftsman in the former bottlintg plant that fronts on Elm Street.
It was to be cappes off with a brewery and restaurant in the originak Moerlein barrelhouse at the southwes t corner ofthe complex. Orton didn’t respond to request s for comment. He listed the entire site, including a vacant lot on the west sideof Elm, with last mont h for $1.5 million. Listing agent Dean Ferrier said Orton also would consider leasingf to alarge tenant. Orton thinke the proposed redevelopment could be accomplished more successfullt by alocal owner, Ferrier The previous owner, , had proposed turning the former brewery into a 100-unit condo and retail complex called Moerleib Gardens.
But a targeted mix of public and private financiny never came together to getthat $25 million project off the ground. The building was last occupiexd by inthe 1990s. Mark a principal at Wichman Gunther, said Orton’s plan is stillo viable, especially if the proposed streetcar loop comessto fruition. It would pass the site on both Elm and Race streetds and make it a place forvisitors “to get off the streetcafr and spend an afternoon,” he The concept is intended to complement Findlay Markett and a planned redevelopment of Rookwood’s facade along It has indoor and outside parking space for about 150 Orton had been content to “let the market come to but a streetcar would instantly change the strategy, said who added that he can’t speal for Orton.
“It’s just a timing issue right now,” he citing the economic climate and need for a major commercial tenantas anchor. One Over-the-Rhine real estatw official who asked not to be identified said Ortonh paid too much andprobably couldn’t make it work because he can’t get Californiza rents in Over-the-Rhine. A concern, he said, is that the propertyy might justsit idle, because Orton now has it listedd for much more than anyone thoughft it was worth beforse he acquired it.
Steve Hampton, president of the , said the Moerleijn complex is crucial tothe area’s Its importance is dictated by its size and central its historical significance and the opportunity it With Findlay Market and Rookwood Pottery nearby, the addition of anothetr attraction would be ideal, Hampton “It’s going to have to be something a little outside the box,” he said. Foundedc in 1984, Orton Develop­ment has specialized in acquirinhg large, problematic properties and redeveloping them. Almost all of its 11 millionm square feet of projects have been in with a handful inthe Carolinas, wherse the Orton family’s textilwe trading company is headquartered.
Gunthetr said Orton’s concept for the Moerlein complex was modeled on Ford Poingin Richmond, Calif. It’s a 500,000-square-foot, Alfred Kahn-designed former Ford plant that Ortob is redeveloping as a waterfrontr complex withlight industrial, office, retail and live-work