CiTiRAMA is to established in-city neighborhoods what HOMERAMA® is to those more suburban, semi-rural areas—a collection of homes that showcase what is new and exciting for the urban dweller. Cincinnati’s bi-annual CiTiRAMA is at Witherby Meadows in College Hill, September 13-21.
CiTiRAMA Cincinnati-style is a bit more than these kinds of events have proven to be in other metro areas around the country, according to Dan Dressman, an official of the local Homebuilders Association. “This marks our 12th continuous event in partnership with the City of Cincinnati,” he said. “That’s the longest continuous streak by far of any city in the United States.”
CiTiRAMA in Cincinnati is held every two years, for the most part (back to back a few times since its inception), and has been a feature of the area since the mid 1990s. This years homes range in price from $239,000 – $289,000.
There is an attractive wild card for purchasers, dealt by the City of Cincinnati. The homebuyers receive a real estate tax abatement of 10, 12 or 15 years, depending on the home purchased. The land on which the home sits is taxed, but the improvement—the home value—is not taxed. This abatement can be as much as $78,000 in tax savings over the life of the arrangement, and it’s transferrable if the home is sold prior to expiration of the deal. The standard home receives a10-year abatement; a more easily accessible home obtains a 12-year deal; and a LEED energy-environment designed home gains the 15-year tax break.
“There has been a resurgence in urban living all across the country in recent years,” Dressman stated. “Our event gives people the opportunity to experience or get an idea of new-home ownership in an urban setting. And the city has been very aggressive in creating tax incentives to get people to relocate in the city. It’s a program that works for everybody.”
A prime reason for visiting this years’ CiTiRAMA is to see what is new: new in home construction, new in appliances and systems supporting the home, new in decorating and colors in vogue. “Each CiTiRAMA helps us show prospective homebuyers what the latest features and trends are in the new homebuilding market,” said Dressman.
In addition, there is a more important goal shared by homebuilders and the City. “We want to reintroduce people to urban lifestyles. Sometimes neighborhoods may be in decline and an infusion of new homes can help elevate them. That happened with our first CiTiRAMA in the Betts-Longworth area,” he said. In other cases, the new homes simply give people a reason for looking at an area they would not have considered if the CiTiRAMA experience did not encourage them to take a look.
No matter what your reason for attending, this years’ CiTiRAMA is waiting to show you it’s stuff. Food, snacks and beverages will be available. See you there!