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

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They blame a recent snag in leasee negotiations with the and the West Side medical practicedGCAP ( ). Both are now adversariesx in a court case in whichu from thehospital group, citing numerouws contract violations. Among thosew alleged violations, as outlined in June 3 lettee to Health Alliance CEOKen Hanover, was the “abandonment of the Incline Project” by the Health The 30-doctor primary-care group has committed to leasingh two-thirds of a 22,000-square-foot office buildin g that’s part of the project’ds first phase. GCAP is owned by the Health Alliance. In the weekz leading up to the it refused toguarantee GCAP’s pendinhg lease obligations.
“The Health Alliancer is only willing to give a limited guarantee at this saidJohn Cranley, an investor in the Inclin Square project. “This is my language, not but what they’re offering is some form of a limited We’re trying to get from them what that looks like. We have a financing commitmentrin place, subject to figuring this out.” Cranley isn’yt sure what impact GCAP’s lawsuit will have on nor is he sure when construction will begij on the project. A group of West Side investors have been pursuinga mixed-use project on land surrounding the Queensd Tower high-rise since 2005.
The latest plan involvesz $20 million in new construction, at the apex of a hill wherw the Price Hill Inclineonce ran. The firsgt phase is expected to includethe GCAP-anchoredf office building, 39 apartment unitsw and a 5,000-square-foot restaurant and beer garden on the site of the old WSAI radik station. The residential and retail components are separately financedr from the office Cranley said that could permit that portiohn of the development to break groundthis year.
GCAP remainx committed to the project and is optimisti c the lease problem willbe resolved, said Mark a physician and board member with the Rudemiller said 15 GCAP doctors are investors in the projecy and are willing to anchor the developmen t with or without the support of the Health Alliance. “We can’t do it now becauser we’re still employees of the Healthy Alliance. We can’t do it ourselves because we technicallg don’t exist at this point,” he “No bank would honor that.
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