The Banks

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Information
The Banks

Location	Cincinnati,Ohio, USA
Status	planning
Groundbreaking	April 2, 2008
Estimated completion	2018
Use	Office, Commercial, Residential
Developer	Carter [1], The Dawson Company[2]

The Banks is the name given to the current mixed-use project and development for the land between the Paul Brown Stadium and the Great American Ballpark along the Ohio River in Cincinnati, Ohio.^[1]

1 History
2 Riverfront Park
- 2.1 Design
- 2.2 Funding
3 Transportation
4 Completed projects
5 External links
6 See also
7 Notes

[edit] History

The construction for a new riverfront area between the two stadiums is the result of a public participation planning process begun in October 1996. Hamilton County and the City of Cincinnati engaged Urban Design Associates to prepare a plan to give direction in two public policy areas:

To site the two new stadiums for the Cincinnati Reds and the Cincinnati Bengals
To develop an overall urban design framework for the development of the central riverfront which would capitalize on the major public investment in the stadiums and structured parking.

A Riverfront Steering Committee made up of City and County elected officials and staff was formed as a joint policy board for the Central Riverfront Plan. Focus groups, interviews, and public meetings were held throughout the planning process.

A Concept Plan was published in April 1997 which identified three possible scenarios for the siting of the stadiums and the development of the riverfront. The preparation of a final Master Plan was delayed due to a November 1998 public referendum on the siting of the Reds Stadium.

Great American Ball Park

Once the decision on the Reds Stadium was made by the voters in favor of a riverfront site, Hamilton County and the City of Cincinnati appointed sixteen prominent citizens to the Riverfront Advisors Commission who were charged to "recommend mixed usage for the Riverfront that guarantees public investment will create sustainable development on the site most valued by our community". The result of that effort was The Banks, a September 1999 report from the Advisors which contained recommendations on land use, parking, finance, phasing, and developer selection for the Central Riverfront. The final Master Plan includes The Banks recommendations from the advisors.^[2] The Banks Working Group said the morning of June 15th, 2007 it has an "agreement in principle" under which Carter [3] and The Dawson Company [4] will serve as master developers for the Banks, a $1 billion riverfront project.^[3] The non-binding agreement calls for 300 apartments in the first phase, followed by 100 condominiums and 70,000 square feet (7,000 m²) of retail. It will also include an unspecified amount of office space. The agreement also sets a policy on economic inclusion and workforce development that will allow for the inclusion of minority and female owned businesses.

On November 1, 2007, Cincinnati City Council and Hamilton County approved of the project. Groundbreaking took place on April 2nd, 2008 and the first phase of the project is expected to be finished by the end of 2009 or early 2010.^[4]

[edit] Riverfront Park

Cincinnati Riverfront Park is planned to span over 40 acres of land along the Ohio River between Broadway and Central Avenue in Cincinnati, Ohio.

[edit] Design

Concept image of the Cincinnati Riverfront Park

The park will connect Bicentennial Commons and Sawyer Point to form an almost 3-mile (5 km) corridor of public park along the river.

The park will include:

Playgrounds
Boat docks
A Great Lawn
Green spaces for festivals and community events
A carousel
Gardens
Bike trails
Walkways
Tree groves
A river's edge promenade with over-sized "porch" swings
Water features (jets, cascades, pools and waterfalls)
Grand stairs

Also considered for the park is a historical marker indicating the position of home plate of the former Cinergy Field (Riverfront Stadium). The area to be occupied by the Banks and the Riverfront Park is the former site of this storied facility, razed in 2002 after the completion of Great American Ballpark to the east.

[edit] Funding

Congress has appropriated $3 million for the design and planning. Congress will contribute up to $50 million for the construction
3.5 million has been given by Cincinnati and Ohio for planning and design
Cincinnati has applied for $8 million federal funds and $2 million in state funds for the first phases of park construction
The initial $1 million has been provided by private funds
Total cost for the park will be $66 million
Annual costs for operation will be $1.2 million offset by parks restaurants, retail, events, consessions, modest tax and private support.

[edit] Transportation

The master plan for The Banks project includes a light rail transportation system. The Banks is the southern terminus of the first phase of the proposed Cincinnati Streetcar system, which if the second phase is completed, will link Uptown, Over-the-Rhine and Downtown to the riverfront and the new development occurring there.^[5] The streetcar plan has recently been strongly supported by council, mayor Mark Mallory, and many organizations and businesses in the area. The first phase linking the riverfront to Over-The-Rhine could be completed as early as 2009. All funding has not yet been secured for the project, but support for it is strong and the streetcar development looks like it will proceed.