Curiosity — HQ Relocation & Renovation
Overview
KMK Consulting (KMKC) assisted Curiosity, LLC (Curiosity) in relocating and expanding its headquarters. Curiosity is a rapidly growing creative agency specializing in strategy, creative, media, and analytics, serving top-tier brands like Procter & Gamble, Dude Wipes, and Brooks Running. The company's expansion aims to meet rising demand and prepare for future growth.
challenges
Identifying real estate that aligned with the creativity and innovation of Curiosity’s culture would be the priority. Curiosity would begin searching for sites and existing buildings in Ohio, Kentucky, Florida, and Pennsylvania. As KMKC and Curiosity collaborated to perform market analysis on each option it became clear that based on demand, speed, and desired location an existing building became the clear path forward.
The location selected would secure a commitment from the company to retain 68 employees, $6.1M in payroll, and create 32 new jobs, $3.4M in new payroll, and $3.3M in capital investment. After much consideration and analysis, the company identified the former home of Chatfield College on Central Parkway in Cincinnati, Ohio. A historic and vacant building that required significant investment.
outcomes
Chatfield College, A historic and vacant building, sits in the heart of the Central Parkway Project, just across the street from FC Cincinnati’s TQL Stadium. The location represented a sense of place and presented an opportunity to amplify their culture and sustain innovation for years to come. The entire 16,200 square foot space required renovation. Throughout the project lifecycle, the costs would continue to increase impacting the company’s budget.
KMKC in partnership with state officials turned to creative solutions to assist in offsetting the company's costs to ensure successful completion. KMKC targeted a discretionary revitalization grant designed to bridge the financial gap between the appealing cost of brownfield sites and the cost of site redevelopment. This program is unique and traditionally provides a higher percentage against eligible costs than any other program in Ohio. Building vacancy is a huge driver in securing this grant. This program would be coupled with a long-term performance-based tax credit helping to offset their annual operational costs.
