Project Officials Ready to Move Forward With Next Phase of The Banks

Officials overseeing the development of The Banks have announced that they will soon proceed with the design and construction of the infrastructure needed for the next phase of the massive riverfront project.

Yesterday, at special meeting of The Banks Steering Committee, the eight-member group unanimously voted in favor of moving forward with what they expect to be $29.3 million worth of work, which would then provide the platform for millions more in private investment in the form of offices, residences and retail on what is referred to as Lot 24.

As has been the case with all prior phases of the mixed-use development, the City of Cincinnati and Hamilton County will build out the utilities and roadway network, and construct a 690-space, two-level parking garage that will lift the site out of the Ohio River floodplain. Carter and The Dawson Company – the private development team selected for the project – would consider what elements should be included and then proceed with building and leasing out whatever is built on top of the parking decks.

A guiding principle that has not changed since the beginning of the development process is that the underground parking garage will be reserved for public parking, leaving Carter-Dawson to develop additional above-ground parking to satisfy the City’s mandatory parking requirements.

The Steering Committee said that the public work will be funded through the issuance of $22 million in tax increment finance bonds, and $7 million from the State of Ohio. Project officials say issuance of the bonds is expected to come within the coming months.

While the Carter-Dawson team has not yet decided the exact mix for this third phase of work, it is widely expected to be primarily residential. In total, the zoning and infrastructure for the site will allow for around 320,000 to 400,000 square feet of developable space.

The timing of the announcement could not be better, with work rapidly progressing on General Electric’s 338,000-square-foot Global Operations Center, 19,000 square feet of retail space, and the 291 apartments at the phase two site to the immediate north; and with the announcement that AC Hotels will develop the long-sought hotel along Main Street in front of Great American Ball Park.

Phase two work is expected to be completed in phases throughout 2016, while AC Hotel by Marriott is expected to open in spring 2017.

While management with the Cincinnati Bengals expressed some concern over the loss of one of the team’s few remaining tailgating lots, The Banks itself is evolving into more of an entertainment district than many had thought.

In April, state officials approved a new open-container district law that will soon be in place at The Banks; and yesterday, in a separate move, the Cincinnati Reds applied for a zoning variance to allow for the installation of a video board that will overlook Freedom Way – providing live video programming when the surrounding streets are shut down to cars for special events. Such moves could render tailgating lots obsolete as fans move to the streets on game days.

Project officials say the phasing of construction at the 18-acre site has been carefully coordinated between the district’s various stakeholders, along with the construction schedule of Smale Riverfront Park. As park work has moved west so has work at The Banks, and with the latest work on the park taking place just south of phase three of The Banks, the timing makes perfect sense.

If all goes according to plan, this next phase of infrastructure work could begin as soon as January or February – just after the conclusion of the Bengals football season.

PHOTOS: Construction Continues to Transform Cincinnati’s Central Riverfront

The changes early phases of The Banks and Smale Riverfront Park brought to Cincinnati’s central waterfront were remarkable to many lifelong Cincinnatians. In fact, when UrbanCincy showed those dramatic changes through Google Street View imagery last year many were stunned.

Those changes, however, were just the beginning. Work has progressed rapidly on the subsequent phases of work at The Banks and Smale Riverfront Park. The structures and final look of this work is now taking shape and is easily visible.

Much of the work at Smale Riverfront Park will be complete within the next month or so; then the next wave of activity will begin and continue to push the park westward toward its ultimate completion several years later. The second phase of The Banks, which includes 60,000 square feet of street-level retail, 300 apartments and General Electric’s 340,000-square-foot Global Operations Center, is scheduled for completion at the end of 2015. The complete build out of GE’s new $90 million office building will not be fully finished until sometime in 2016.

EDITORIAL NOTE: All 15 photographs in this gallery were taken by Jake Mecklenborg for UrbanCincy on April 12, 2015.

PHOTOS: Construction Updates From Along the Mighty Ohio River

Both sides of the Ohio River are full of construction right now. In Cincinnati, General Electric’s new Global Operations Center, 300 new apartments, and 60,000 square feet of retail space are under construction at phase two of The Banks. The latest phase of the Smale Riverfront Park, which includes Carol Ann’s Carousel, is also moving along just around the corner.

Then, across the river in Newport, 238 apartments, 8,300 square feet of retail space, and an Aloft hotel are being added as part of the next phase of Newport on the Levee. Prep work is also taking place for the relocation of Kentucky Route 9 and the long-delayed Ovation project.

You can click on any image to enlarge it.

EDITORIAL NOTE: All 13 photos were taken by Travis Estell for UrbanCincy between January 18 and February 15, 2015.

VIDEO: Smale Riverfront Park’s Carousel Taking Shape in Mansfield

Carol Ann’s Carousel is taking shape about three hours north of Cincinnati in Mansfield. It is there where master wood carvers are hand-crafting the $1 million showpiece for Smale Riverfront Park.

Carol Ann’s Carousel is being built by an Ohio company that claims to be world’s largest manufacturer of wooden carousels. Founded in 1986, Carousel Works has built dozens of the rides that are now in operation throughout North America. According to their employees, Cincinnati’s is one of the more unique and interesting projects they have worked on to-date.

“I’ve got to work on some really fun ones so far, but I have to say that the Cincinnati’s carousel is going to be really fantastic,” explained carver Tim Gorka. “I  really think it’s going to be a favorite of most of the people working here.”

The $4.5 million structure that will house the amusement ride is now largely in place, with the glass walls and roofing all in place just west of the Roebling Suspension Bridge along the central riverfront.

Project officials say that the progress is advancing according to plan, and that the 44-character carousel will open to the public on Saturday, May 16.

Phase One of Ohio River Trail West Secures $1.3M in Funding

River West Working Group has announced that the western leg of the Ohio River Trail through Cincinnati has been awarded a $1 million Federal Congestion Mitigation/Air Quality grant. An additional funding commitment of $261,000 from the City of Cincinnati’s Bicycle Transportation Program brings the total to $1.3 million.

Project leaders say that the money will be put toward construction of the first phase of the bikeway and greenway project along Cincinnati’s western riverfront.

“We greatly appreciate the initiative of the City’s Department of Transportation & Engineering in developing and submitting the grant application, and the support of Mayor John Cranley, who set up the bike program funding that seeded the Federal grant,” said Tom Croft, co-chair of River West Working Group.

Croft, a Price Hill community activist, also credited the work of ODOT, OKI Regional Council of Governments, State Senator Bill Seitz (R), and Representatives Bill Blessing (R) and Lou Terhar (R).

The first phase of work will extend roughly 3.7 miles downriver from the planned Price Landing park to the Gilday Recreation Center. The recently allocated funds will go toward constructing more than half of this phase of work.

The overall plan for Ohio River Trail West is a 28-mile bikeway and greenway network, separated from nearby roads, that serves as a connection between Smale Riverfront Park and Shawnee Lookout.

The river alignment of this trail makes it unique to any other east/west corridor on Cincinnati’s west side in that it does not traverse steep or extended hills. Such an orientation will allow cyclists the opportunity to get to the trail and have a level path into the city center.

Due to the relationship of the project to the existing freight railroad lines, project leaders say that additional coordination is needed before the group is able to move forward with the third segment of work within the first phase of construction activities.

“We are not going to announce work on that until we have negotiated some type of agreement”, Dave Zelman, co-chair of River West Working Group told UrbanCincy.

Further complicating matters is that the City of Cincinnati recently worked with the freight railroad companies to rebuild the four tracks along that stretch in recent years. Regardless, neighborhood leaders and project proponents are confident that the work will progress and serve as a major benefit for the communities along the corridor.

“The Ohio River Trail West is a big factor in the ongoing revitalization of our western Hamilton County neighborhoods, many of which are underserved by this kind of amenity,” concluded Zelman. “It will encourage access to the Ohio River and its surrounding hillsides, our greatest natural assets.”