| The Banks | |
|---|---|
| Banks layout.jpg | |
| General information | |
| Status | Under construction |
| Type | Office, Commercial, Residential |
| Location | Cincinnati, Ohio, USA |
| Construction started | April 2, 2008 |
| Estimated completion | 2018 |
| Design and construction | |
| Developer | Carter,[1] The Dawson Company[2] |
The Banks is the name given to the current mixed-use project being developed on the land between Paul Brown Stadium and Great American Ball Park along the Ohio River in Cincinnati, Ohio.[3]
Contents |
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:
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.
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.[4] The Banks Working Group said the morning of June 15, 2007 it has an "agreement in principle" under which Carter[5] and The Dawson Company[6] will serve as master developers for the Banks, a $1 billion riverfront project.[7] 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 2, 2008 and the first phase of the project is expected to be finished by the end of 2010 or early 2011.[8]
Cincinnati Riverfront Park is planned to span over 40 acres (160,000 m2) of land along the Ohio River between Broadway and Central Avenue in Cincinnati, Ohio.
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:
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.
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.[9] The streetcar plan has recently been strongly supported by council, mayor Mark Mallory, and many organizations and businesses in the area.