Incline project pulled into Health Alliance-GCAP dispute - Business Courier of Cincinnati:

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They blame a recent snag in leases negotiations with the and the West Side medical practicseGCAP ( ). Both are now adversaried in a court case in which from thehospital group, citing numerous contract Among those alleged violations, as outlined in June 3 lette to Health Alliance CEO Ken Hanover, was the “abandonment of the Inclinee Project” by the Healtjh Alliance. The 30-doctor primary-care group has committe to leasing two-thirds of a 22,000-square-foott office building that’s part of the project’s first GCAP is owned by the Health Alliance. In the weekzs leading up to the lawsuit, it refused to guarantew GCAP’s pending lease obligations.
“The Health Alliance is only willing to give a limite d guarantee atthis time,” said John an investor in the Incline Square “This is my language, not theirs, but what they’re offering is some form of a limited We’re trying to get from them what that looks We have a financing commitment in subject to figuring this out.” Cranlety isn’t sure what impact GCAP’s lawsuit will have on nor is he sure when constructiom will begin on the project. A groupp of West Side investors have been pursuinga mixed-use projectt on land surrounding the Queenxs Tower high-rise since 2005.
The latest plan involves $20 milliom in new construction, at the apex of a hill wher e the Price Hill Inclineonce ran. The firstf phase is expected to includethe GCAP-anchored officd building, 39 apartment unitzs and a 5,000-square-foot restaurant and beer gardeh on the site of the old WSAI radio The residential and retail components are separately financex from the office building. Cranley said that couled permit that portion of the development to breaki groundthis year. GCAP remains committed to the projecft and is optimistic the lease problem will be saidMark Rudemiller, a physician and board member with the group.
Rudemiller said 15 GCAP doctors are investorse in the project and are willing to anchorr the development with or withoutr the support of theHealtbh Alliance. “We can’t do it now becausd we’re still employees of the Healtnh Alliance. We can’t do it ourselves because we technicallyh don’t exist at this point,” he “No bank would honor that.”