BUSINESS

Cincinnati Proposal Seeks Major Redevelopment Of The Banks

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Cincinnati — The urban development team submitted a 130-page final proposal this week to redesign The Banks, focusing on five under-used downtown parcels and proposing 2.5 million gross square feet of new buildings plus 1.5 million gross square feet for residential, hotel, retail and office uses, with an estimated cost of $770 million to $800 million. The City of Cincinnati and Hamilton County will review the plan, and the City Planning Commission is the next decision point after an 11-month consultant collaboration involving Perkins & Will, MKSK Studios, Kolar Design, Nelson Nygaard and HR&A Advisors; the update emphasizes enhanced public spaces and improved riverfront connections. Separately in Iowa City on Wednesday, senior Tavion Banks declared for the NBA Draft and said he will enter the transfer portal if a fifth year of eligibility is not granted, with the portal closing April 21 and the draft scheduled for June 23–24.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

2000: Riverfront Advisory Group establishes the original Banks footprint.
Consultants and stakeholders carried out an 11-month Urban Design Plan Update process.
Consultant team presented recommendations for the five remaining developable lots.
A 130-page final proposal was submitted proposing 2.5M and 1.5M gross square feet of new development, estimated at $770–$800M.
City Planning Commission review and municipal approvals are the next formal steps; separately Tavion Banks declared for the NBA Draft and may enter the transfer portal.

Why This Matters to You

This redevelopment could reshape Cincinnati's downtown, potentially boosting property values and local businesses. It might also mean more jobs during construction and in the new buildings. Keep an eye on the City Planning Commission's decision.

The Bottom Line

The Banks' redevelopment is a massive project with a hefty price tag. It aims to revitalize underused areas and enhance public spaces. If you're a Cincinnati resident, this could significantly impact your city's landscape. Worth forwarding if you know someone living in Cincinnati.