Group planning $7M apartment renovation

A Denver-based nonprofit housing group said it will spend $7 million to renovate 200 apartments for low-income residents in Over-the-Rhine.

Mercy Housing said it expects to complete the purchase of 38 buildings next week from Franciscan Home Development. It will begin work within three weeks on the older buildings with an accelerated construction timeline this summer. Mercy will spend $3.6 million to acquire the buildings and expects to invest another $3.4 million in repairs, Mercy spokeswoman Megan Brunet said Friday.

Brunet said the targeted properties include a mix of abandoned buildings and units that are occupied. The nonprofit also will renovate 24,000 square feet of commercial space.

Mercy's local partners include Catholic Healthcare Partners and Mercy Health Partners.

Airport still second on most-expensive list

Cincinnati/Northern Kentucky International Airport remains the nation's second-most expensive airport to fly from, according to federal data released Friday.

The Transportation Department's quarterly domestic fare review found that Cincinnati passengers paid 59 percent more for tickets than the rest of the nation in the third quarter of 2003 for similar routes.

That puts the airport behind only White Plains, N.Y., which had a 73 percent premium. Charlotte, N.C., followed Cincinnati in third with a premium of 51 percent. The report said that area travelers paid an average of $236 for a round-trip ticket.

The airport is Delta Air Lines' second-largest hub; the Atlanta-based carrier controls 93 percent of the market here and has no low-fare competition.

Regent income jumps in first quarter of '04

Regent Communications said Friday that first-quarter net income nearly tripled to $319,000 from the same period last year, when the company absorbed $87,000 in losses from the sale of discontinued operations.

For the three months ended March 31, Regent posted revenue of $17.8 million, up 8.5 percent from a year ago.

The Covington-based radio station owner said it would have 75 stations in 15 markets upon completion of acquisitions.

Shares in Regent closed at $6.37, down 12 cents.

CORRECTION: Roses for urns

A story in Friday's Enquirer about Speaking Roses, which embosses flowers for special events, should have said the company, through Kroger, was providing roses for the winner's circle urns at the Kentucky Derby. Kroger itself provides the Derby's Garland of Roses.

Staff reports