Cincinnati Banks: Its Official

[DoogMinAmo]

http://news.enquirer.com/apps/pbcs.d...IZ01/302290098

Banks to start April 2
BY KEITH T. REED | KREED@ENQUIRER.COM

The developers of The Banks will announce this afternoon that they have secured all $74 million needed to finance the first phase of construction, clearing the way for an April 2 groundbreaking on the project.

"This is great news. It means The Banks project will definitely advance," said Cincinnati Mayor Mark Mallory. "I'm excited that Carter/Dawson (the developers) will be doing the project and I'm looking forward to a great development.''

The financing comes on the last day of a month-long extension of a deadline for the developers, Carter & Associates Commercial Services LLC and the Harold A. Dawson Co., and could signal the end of a decade-long wait for activity at the barren riverfront site between Great American Ball Park and Paul Brown Stadium.

It also means Carter and Dawson made good on their promise to weather a tough economy marked by difficult borrowing requirements for developers, to complete the deal. The developers’ agreement with the city and Hamilton County called for them to have commitments for all the money needed to build phase 1A of the project, to include 300 apartments and 70,000 square feet of retail atop a garage at the corner of Second and Main streets, by the end of January.

That deadline passed with Carter and Dawson still between $12 million and $14 million short. The city and county agreed to give them an extension. Today’s announcement should also include details on the sources of funding, which have not yet been disclosed.

If the April construction date holds, the vacant land at that spot will begin a long transformation into a mini-neighborhood along the Ohio River, featuring apartments, parking, retail and office space.

[Bip Roberts]

I cant wait for the next hold up!

[OldRightHander]

I cant wait for the next hold up!

I get held up every time I buy diesel.

[Hap]

What are they going to do with all the crackheads, bums and hookers?

[LoganBuck]

What are they going to do with all the crackheads, bums and hookers?

Open a museum in the honor, or convert the Freedom Center to transient housing.

[Bip Roberts]

Ill take the hookers

[GoReds33]

I can't wait until they get some good restraunts down there, so I have something to do after the game.

[Chip R]

I can't wait until they get some good restraunts down there, so I have something to do after the game.

You should live so long.

[Reds Freak]

I can't wait until they get some good restraunts down there, so I have something to do after the game.

Honestly my man, if you can't find a good restaurant downtown, you're blind. There has been an amazing rebirth of downtown and Over the Rhine the past couple of years and the Banks and the streetcar will only add to that..

[Bip Roberts]

Honestly my man, if you can't find a good restaurant downtown, you're blind. There has been an amazing rebirth of downtown and Over the Rhine the past couple of years and the Banks and the streetcar will only add to that..

I think he means kinda within walking distance.

[Reds Freak]

I think he means kinda within walking distance.

I would hope the Fountain Square area, where a bunch of good restaurants are located, is walking distance from the stadium for you. Plus, you bring up another great argument for the need for a streetcar system!

[Bip Roberts]

I would hope the Fountain Square area, where a bunch of good restaurants are located, is walking distance from the stadium for you. Plus, you bring up another great argument for the need for a streetcar system!

Yea fountain square is depending on where you park. The Banks are just going to be a nice central place.

[GoReds33]

Honestly my man, if you can't find a good restaurant downtown, you're blind. There has been an amazing rebirth of downtown and Over the Rhine the past couple of years and the Banks and the streetcar will only add to that..

Don't get me wrong, there are good restraunts, but when I park near the stadium, I don't want to have to walk back to the car, and find another place to pay to park. I'm way too lazy to walk to fountain square. I just think that having an entire experience down along the water would be great, if you could go to a game, and then get some good food all along the river. I just hate giving my money to Newport, knowing all that stuff over there should be in Cincinnati in the first place.

[Reds Freak]

Don't get me wrong, there are good restraunts, but when I park near the stadium, I don't want to have to walk back to the car, and find another place to pay to park. I'm way too lazy to walk to fountain square. I just think that having an entire experience down along the water would be great, if you could go to a game, and then get some good food all along the river. I just hate giving my money to Newport, knowing all that stuff over there should be in Cincinnati in the first place.

Sounds great GoReds, I usually park at Fountain Square for Reds games so I'm used to walking there after the game and going to a few establishments in that area. You're right, the Banks will be a great place to enjoy after the game. My hope is for the Banks not to turn into a suburban mall playground. Hopefully, the Banks is distinct, unique, "Cincinnati" and with its own character.

Doog, it's wonderful to hear of your interest in OTR. Have you seen the Gateway Quarter lately? That area looks amazing!

[DoogMinAmo]

Sounds great GoReds, I usually park at Fountain Square for Reds games so I'm used to walking there after the game and going to a few establishments in that area. You're right, the Banks will be a great place to enjoy after the game. My hope is for the Banks not to turn into a suburban mall playground. Hopefully, the Banks is distinct, unique, "Cincinnati" and with its own character.

Doog, it's wonderful to hear of your interest in OTR. Have you seen the Gateway Quarter lately? That area looks amazing!

Yep, amazing now, and from what I hear in the near future it is only going to get better and better. Rumors have a brownie boutique on its way, in addition to Lavomatic that just opened, an outdoor furniture store on its way, a furniture store that just opened, a coffee house, and a couple more restaurants. Really exciting stuff, not to mention Grammer's is open again!