The Banks

Cincinnati and Hamilton County have cleared the way to bring General Electric's Global Operations Center to The Banks. 

City Council and the County Commission Monday morning approved several packages of incentives cementing the deal.  GE is expected to bring nearly 1,800 jobs with an average total payroll of $142 million per year.

The five-year lease includes five, 5-year renewal options.

Cincinnati Mayor John Cranley will not confirm media reports General Electric plans to locate its U.S. Global Operations Center and 1,400 new jobs at The Banks development.  

Cranley was asked about the issue Thursday during a press conference on another topic.  Cranley said reporters should write stories once GE makes its official announcement.

Work is officially underway on the next phase of the Banks project.

Cincinnati Mayor John Cranley and Hamilton County Commission President Chris Monzel poured the first concrete pillar for expansion west of the Freedom Center.

Monzel calls the project a major economic driver for the region.

"We could yield a return on investment as high as 7-to-1," says Monzel. "To me that's a smart investment. That is a great ROI that will contribute to continue to strengthen our county  and our city."

Hamilton County and the Bengals have a reached a deal that could pave the way for luring General Electric to the Banks.

The county announced Thursday the Bengals have agreed to waive height restrictions that would've halted a office space large enough to house General Electric's new Southwest Ohio Global Operations headquarters and a planned apartment building in exchange for six items.

Commissioner Greg Hartmann says the deal will allow the county and city to aggressively bid for GE.

Cincinnati Council is expected to vote Wednesday to issue $8 million worth of bonds to finish another portion of Smale Riverfront Park.  That borrowing likely will mean city homeowners will not see a decrease in a portion of their city property taxes.

Issuing bonds is essentially the same thing as taking out a mortgage on a house.  You get a large lump sum of money up-front and then pay it back over a long period of time.  The city sets aside a portion of its property tax revenue to make these payments.  

Mayor Mark Mallory, quickly coming to the close of his eight years as Cincinnati mayor, used a combination of serious talk, comedic one-liners, videos and slide shows Tuesday night to make the case that he has helped turned a struggling city around.

Before a crowd of about 200 invited guests on a set dressed like a living room at Over-the-Rhine’s Ensemble Theatre, Mallory talked for an hour and five minutes about the legacy he leaves when he vacates the mayor’s office Dec. 1.

More road closures are coming along the riverfront near the Banks and the stadiums.

Here's what you need to know:

Section of Pete Rose Way to close for a series of concrete pours to create Pedestrian Bridge walking surface.

WHAT

Hamilton County Commissioners are giving their approval to the next phase of the Banks project. The board approved the plan Wednesday.

Project counsel Tom Gableman says Phase II-A will create 706 construction jobs.

"In terms of wages, that's about $30 million," he says. "And the total economic impact, both direct and indirect, is about $115 million."

Announced earlier this month, Phase II-A includes 305 apartments and 21,000 square feet of retail space. Gabelman estimates retail employment will create 345 jobs.

New details are being released about the next phase of the Banks project along the Ohio river.

Phase II A will feature a nine-story building running the length of Second Street from the Freedom Center to Race Street.

The development will include 305 apartments and 21,000 square feet of retail space.

Cincinnati and Hamilton County officials are slated to sign off on the project later this month. If everything moves on schedule, construction would begin in December with an expected opening date in fall 2015.

From a release:

The man behind Cincinnati's popular Banks development along the riverfront is officially moving on to something a little more challenging.

John Deatrick is taking over the Cincinnati Streetcar as the project executive. Challenging because the project and its funding remain hot-button issues.

Deatrick says he believes Cincinnati needs to repopulate its urban core, not only with people but also goods and services.

Traffic along Cincinnati's riverfront is getting a little more tricky for a few weeks.

Lane closures and detours start Monday morning while crews work on constructing a new pedestrian bridge on Pete Rose Way and what's known as the Dumbo Lot at Third and Broadway and removing the Race Street bridge deck.

Sidewalks in those areas will also be closed for certain periods.

The traffic disruptions are slated to run through early August.

The folks at Toby Keith's I Love this Bar and Grill have more than hamburgers and beers on their plates. According to court filings, the restaurant hasn't been paying its rent.

An affiliate of The Banks developer is filing suit against the restaurant's owners. Court documents allege Toby Keith's hasn't paid rent since November of last year. The monthly rent is $41,066.67.

The developer is asking for all rents, payments, fines and other related costs.

Jefferson Social will take up residence this Spring at The Banks. The neighborhood bar and restaurant style facility will serve Mexican street food. It will be operated by Tony Cafeo, who also owns Jefferson Hall at Newport on the Levee.

“Our focus will be on serving artisanal drinks with freshly squeezed juices and quality liquors, and serving tacos and nachos made with fresh ingredients,” says Cafeo. “Customers will be able to enjoy themselves in a design and layout conducive to socializing, eating, dancing and partying.”

Jimmy John’s Gourmet Sandwiches is coming to the Banks.  A release  from the development team of Carter and The Dawson Company says it will open in April on the south block of Freedom Way.   “The addition of Jimmy John’s helps round out the ‘something for everyone’ atmosphere at The Banks,” said Scott Stringer, Executive Vice President at Carter. “It will be another great option for those who are downtown looking for lunch or something quick.”

Cincinnati is holding a national competition to get design ideas for building decks over Fort Washington Way to connect the Central Business District to the Banks.

Possibilities range from adding green space to business, retail or entertainment space.

The competition is called "Connect the Blocks." The city wants design, architectural and engineering experts to create concepts and cost estimates.