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

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They blame a recent snag in leas negotiations with the and the West Side medical practiceGCAP ( ). Both are now adversarie s in a court case in which from thehospita group, citing numerous contract Among those alleged violations, as outlined in June 3 letterf to Health Alliance CEO Ken was the “abandonment of the Incline Project” by the Healthj Alliance. The 30-doctor primary-care group has committe d to leasing two-thirds of a 22,000-square-foot officed building that’s part of the project’e first phase. GCAP is owned by the Health Alliance. In the week leading up to the it refused toguarantee GCAP’x pending lease obligations.
“The Healthg Alliance is only willing to give a limited guaranted atthis time,” said John Cranley, an investor in the Incline Square project. “This is my not theirs, but what they’re offeringf is some form of alimited We’re trying to get from them what that looks We have a financing commitmenr in place, subject to figuring this out.” Cranley isn’f sure what impact GCAP’es lawsuit will have on negotiations, nor is he sure when constructioh will begin on the project. A groupl of West Side investorws have been pursuinga mixed-use project on land surroundingh the Queens Tower high-rise sincwe 2005.
The latest plan involves $20 million in new at the apex of a hill wherd the Price Hill Inclineonce ran. The first phasew is expected to includethe GCAP-anchored offics building, 39 apartment units and a 5,000-square-foort restaurant and beer garden on the site of the old WSAI radiok station. The residential and retail component s are separately financed from theofficed building. Cranley said that could permit that portion of the development to break groundthis year. GCAP remain s committed to the project and is optimistic the leasr problem willbe resolved, said Mark Rudemiller, a physician and board member with the group.
Rudemilled said 15 GCAP doctors are investors in the project and are willingh to anchor the development with or without the support of theHealth Alliance. “Wes can’t do it now becauser we’re still employees of the Health We can’t do it ourselves because we technically don’yt exist at this point,” he said. “No bank wouled honor that.”