Cincinnati Banks: Its Official - RedsZone.com - Cincinnati Reds Fans' Home for Baseball Discussion

DoogMinAmo · 02-29-2008, 01:53 PM

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 · 02-29-2008, 01:56 PM

I cant wait for the next hold up!

Hap · 02-29-2008, 02:12 PM

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

LoganBuck · 02-29-2008, 02:14 PM

Quote:

Originally Posted by Hap

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 · 02-29-2008, 02:16 PM

Ill take the hookers

GoReds33 · 02-29-2008, 02:41 PM

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

Roy Tucker · 02-29-2008, 02:48 PM

Very glad to see this is moving forward.

According to this web site, Phase 1A will begin with blocks 4 and 8/11B.

http://www.building-cincinnati.com/2...-by-block.html

Ltlabner · 02-29-2008, 03:11 PM

Will the trolley system have a stop there?

Glad to hear some progress is being made.

SunDeck · 02-29-2008, 03:17 PM

Great, now where will the circus go?

Chip R · 02-29-2008, 03:18 PM

Quote:

Originally Posted by GoReds33

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.

OldRightHander · 02-29-2008, 04:35 PM

Quote:

Originally Posted by Bip Roberts

I cant wait for the next hold up!

I get held up every time I buy diesel.

KronoRed · 02-29-2008, 04:46 PM

Quote:

Originally Posted by Ltlabner

Will the trolley system have a stop there?

It's a STREETCAR

not a TROLLEY!

Sorry

Jharb74 · 02-29-2008, 05:11 PM

Maybe they can finally get the subway working, that they started building, way back when.

paintmered · 02-29-2008, 05:24 PM

Quote:

Originally Posted by Ltlabner

Will the trolley system have a stop there?

Glad to hear some progress is being made.

1. It is not a trolley. It is a streetcar. A trolley runs on rubber tires, streetcars use rails. Only the latter historically stimulates economical development. (Krono already beat me to this point)

2. Yes, the streetcar will stop at The Banks right next to GABP.

Ltlabner · 02-29-2008, 06:16 PM

Quote:

Originally Posted by paintmered

1. It is not a trolley. It is a streetcar. A trolley runs on rubber tires, streetcars use rails. Only the latter historically stimulates economical development. (Krono already beat me to this point)

We'lllllll exxxcccccccuuuuuuuuusssssseeeeeeeeeeee meeeeee....

02-29-2008, 01:53 PM	#1
DoogMinAmo Porkchop Sandwiches Join Date: Apr 2001 Location: Homebase, Ohio Posts: 2,540	Cincinnati Banks: Its Official 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. __________________ "I'm a Cucumber, I'm a cucumber. I'm a cucumber, I'm a cucumber. I'm a cucumber, I'm a cucumber. Please don't send me to the pickle farm, bum." - Brak Record In Games Attended, 2007: 2-1 (1-0 GAB, 1-1 Jake)

02-29-2008, 01:56 PM	#2
Bip Roberts Member Join Date: Oct 2007 Posts: 2,189	Re: Cincinnati Banks: Its Official I cant wait for the next hold up!

02-29-2008, 02:12 PM	#3
Hap Plays The Right Way Join Date: Mar 2003 Location: 796.357 Posts: 1,676	Re: Cincinnati Banks: Its Official What are they going to do with all the crackheads, bums and hookers? __________________ .

02-29-2008, 02:16 PM	#5
Bip Roberts Member Join Date: Oct 2007 Posts: 2,189	Re: Cincinnati Banks: Its Official Ill take the hookers

02-29-2008, 02:48 PM	#7
Roy Tucker Be the ball Join Date: May 2001 Location: Mason, OH Posts: 11,120	Re: Cincinnati Banks: Its Official Very glad to see this is moving forward. According to this web site, Phase 1A will begin with blocks 4 and 8/11B. http://www.building-cincinnati.com/2...-by-block.html __________________ The motel of lost companions Waits with heated pool and bar

02-29-2008, 03:11 PM	#8
Ltlabner 2009: Fail Join Date: May 2006 Location: Cincinnati Posts: 7,441	Re: Cincinnati Banks: Its Official Will the trolley system have a stop there? Glad to hear some progress is being made. __________________ a super volcano of ridonkulous suckitude. I simply don't have access to a "cares about RBI" place in my psyche. There is a "mildly curious about OBI%" alcove just before the acid filled lake guarded by robot snipers with lasers which leads to the "cares about RBI" antechamber though. - Nate

02-29-2008, 03:17 PM	#9
SunDeck First Time Caller Join Date: Jun 2000 Posts: 5,224	Re: Cincinnati Banks: Its Official Great, now where will the circus go? __________________ Dusty Baker, second shooter. --Confirmed on Redszone.

02-29-2008, 05:11 PM	#13
Jharb74 Member Join Date: Mar 2005 Location: Southwest KY Posts: 241	Re: Cincinnati Banks: Its Official Maybe they can finally get the subway working, that they started building, way back when.

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