Cincinnati Ohio Economic Development

Progress continues at The Banks

Lisa Bernard-Kuhn • Cincinnati.com
Parking and driving through The Banks riverfront development just got easier thanks to the newly opened Freedom Way and more than 700 parking spaces.

On Tuesday, Cincinnati and Hamilton County officials gathered at The Banks to celebrate the completion of 729 new public parking spaces and the new road, which extends from Great American Ball Park to Paul Brown Stadium.

Bound by Second, Race and Vine streets, the new parking facility is an extension of the recently built Central Riverfront Garage system. The entire system includes more than 2,400 parking spaces and extends between each of the riverfront stadiums.

Tuesday’s gathering marked the completion of the The Banks’ street grid and its utilities, a major milestone for the project, said John Deatrick, project manager for the city and county. The two groups are 50-50 partners for the public investment portions of The Banks, which is estimated at more than $88 million so far.

“This is the end of a long, long process,” Deatrick said. “It was just a dream in 1997 and here it is.”

The finished work is also “a symbol of the move into the next phase of The Banks”—private development—said Cincinnati Mayor Mark Mallory.

By next summer, Atlanta-based developers Carter and The Dawson Co. say they hope to begin working on a more than $75 million plan for new storefronts, restaurants and up to 300 more apartments on the west side of the National Underground Railroad Freedom Center. In the last year, developers have put the finishing touches on The Banks’ first round of private investment—an estimated $80 million investment that’s delivered 300 apartments and roughly 90,000 square feet of retail and restaurant space just east of the Freedom Center.

The new private phase will be built on top of the recently completed parking garage just north of the newly built Freedom Way. The garage acts as the foundation that will support the apartments and retail sites and brings them out of the 100-year flood plain.

More than 1,780 construction jobs have been created since ground was broken on public portions of The Banks in 2008. Messer Construction/MBJ Consultants has served as the lead contractor on the street grid and public garage system. Officials said future public phases could include additional parking further west of the Freedom Center and south of Freedom Way.

Read the full article here.