The project executive for The Banks development says they hope to put out a request for proposals in 2026. Phil Beck says that will hopefully come sooner rather than later. In mid-November, an urban plan update charted a path forward for the project. Beck says now they have to define what was presented.
“You saw some renderings of buildings. The urban planning team continues to [define] what those buildings look like. They’re not just rectangular boxes,” he says. “They’re trying to create an image that would then indicate to an interested developer what we’re looking for.”
The lots that will be developed next won't look exactly like what's already at The Banks. Hamilton County Commissioner Denise Dreihaus says the most recent study indicates the project may have been under-built.
“What we saw presented was a higher density, higher capacity response to that. Because the buildings are taller. The residential properties are denser,” she says. “And then there is this collection of residential, retail, hotel and a tiny little bit of office [space].”
Both Driehaus and Beck say tariffs are causing prices to rise, and they're worried an economic slowdown could stall the project altogether.
Two developers had submitted proposals for Lot 24 last May, when the project was put on hold. Beck says those plans weren't what they were looking for.
“One of them was only interested in doing half the block. And the other is a company that already has rights to what we call the office pad in Phase 1.”
Beck says that section is still undeveloped.
Will the Ferris wheel return?
He says he's asked often if a Ferris wheel will return to The Banks. The Skystar was set up near the Underground Railroad Freedom Center, and it came down in 2020, with plans for a more permanent wheel.
However, it never materialized. Phil Beck says the location wasn't ideal.
“I would say the biggest issue is the wheel and what that represents doesn’t necessarily jive with the National Underground Railroad Freedom Center, and what they represent, what their mission is.”
Beck says they are talking with Banks stakeholders, including the Freedom Center and residents, about what should go on Lot 18.
Commissioner Driehaus says the wheel was popular.
“It is fair to say that we’re undecided about the wheel but I think we, as a part of this plan, and kind of finishing up The Banks, we do need to pay some attention to that lot and make sure it’s not left behind.”
Driehaus says they are looking for things that will operate year-round and draw more people to the neighborhood.
Read more:
