ucnum1

The 2 proposals for lots 24 Hamilton County received before pausing the development process. https://www.bizjournals.com/cincinnati/news/2025/05/14/banks-lot-24-flaherty-collins-lincoln-proposals.html Commercial Real Estate Hamilton County releases design proposals for Lot 24 at the Banks Renderings of Flaherty & Collins' proposed development for Lot 24 at the Banks Flaherty & Collins By Brian Planalp – Staff reporter, Cincinnati Business Courier May 14, 2025 Hamilton County has released the development proposals on which it has decided not to act for Lot 24, the largest undeveloped lot at the Banks. Indianapolis-based Flaherty & Collins and Dallas-based Lincoln Property Group submitted the proposals through a joint city of Cincinnati-Hamilton County request for proposals process that opened Feb. 3 and closed April 9. Officials said May 13 city and county leadership had decided not to act on the proposals, effectively halting the entire selection process until after a design review of all undeveloped lots of the Banks is complete at the end of this year. The county could reissue the RFP afterward, and the two firms, if inclined, will be able to resubmit these proposals or submit new proposals. More below: https://www.bizjournals.com/cincinnati/news/2025/05/14/banks-lot-24-flaherty-collins-lincoln-proposals.html

Seems the Marina is still being built on the Ohio River engineering corps clearing it is still needed.Lot 24 received 2 proposals to be developed maybe not to the City and Counties liking.And Ferris Wheel is incoming back. https://www.wcpo.com/news/local-news/i-team/a-ferris-wheel-may-be-returning-to-the-banks-as-leaders-look-for-new-attractions-amid-development-stalls

https://local12.com/news/local/plans-cincinnati-major-burnet-square-development-move-forward-avondale-project-cost-expenses-businesses-construction-apartments-retail-spaces-mixed-use-district-housing-hotels-retail

Add on 15-20 years to the 2032 date when the Bonds are paid in full for building PBS is the most likely scenario.PBS will be paid off a lot sooner than Great American Ballpark will be.

The Bengals can take out up to $300 million from the NFL the loan paid off over a 25 year period from league revenue sharing.I doubt Hamilton County will even break $250 million for PBS renovations when the new lease is signed in June. https://www.sportsbusinessjournal.com/Articles/2023/12/14/Football/nfl-g5-program/#:~:text=Owners%20created%20a%20successor%20to,the%20current%20program%20at%20capacity.

I know it is a grand time to crap on the Blackburn and Browns over the Paycor Stadium lease.When the lease was signed between Hamilton County and the Bengals was the going rate for municipalities in keeping thier NFL teams.More than a few teams relocated during that era that did not overpay to keep their teams.Hamilton County voted by over 60% to overpay and keep their franchise.Sour grapes But also actually knowing the details behind any deal and not regurgitating misinformation is also important to the subject matter.The Bengals contributed $44 million dollars to build Paul Brown Stadium out of $450 million cost. In phase 1 of a 4 phased PBS renovation the Bengals and NFL are contributing $120 million for phase 1 alone out of $180 million. From a percentage standpoint that is going from a 9.8 percent contribution to a 66.6 percent contribution of team money in project costs.

Private capital is still being raised for this project.A year or so out from asking for the public dollars.

I can see Cincinnati getting back to it's pre white flight days of populations near 500k people though. The city is on a precipe of real sustained growth and seems ready for a population takeoff I will say that. Neighborhoods all over town are getting filled up by large apartment developments and homes rehabbed in neighborhoods that have have not seen investment since the 1960s.

FC Cincinnati total planned development is up to 1.5 billion dollars now in the West End. With TQL costing $250 million and phase 1 of their planned stadium development around TQL stadium at $330 million a under in $600 in projects committed.Seems to be another $800 million to $1 billion remains to be developed.Id guess this includes phase 2 and phase 3 is the district police headquarters are next.

Case in point the county and team coming up with a capital stack of about $250 million each to round out PBS renovation financing of $800-850 million. "We are in the process of putting the term sheet together,” Driehaus told me, adding it won’t be long until it is finished. “I like to tell people we’re negotiating with the Bengals all the time. And we are.” The Bengals can unilaterally extend the lease for two years, but must notify the county by June 30 of the team's decision to do so. Driehaus said her goal in building a capital stack for the project long has been to split the costs roughly into thirds – one-third paid for by the state, one-third from the county and one-third from the Bengals and the NFL."

The Brown family could sell a private equity stake in the team maybe even recoup a billion dollars from it.Pigs are also never likely to fly.The chances are about the same here. The entire family are pretty much all Ivy League educated lawyers.They know within 99.9% of every cent and dollar of the funding formula NFL teams are getting on from state county and city governments.Are the Bengals entitled to any public subsidies? No but the market rate has been set and that family knows exactly what it is.

The Brown family are nothing like the Haslams up in Cleveland and quite honestly they do not have the capital stack to offer up a billion to develop a new stadium and surrounding area. Playing in a renovated PBS at under a billion dollars cost with a team contribution of a few hundred million is exactly where they want to be at.

That was the going rate for a stadium lease back in the mid 1990s.Baltimore was offering the Bengals more than Hamilton County with a $50 million upfront payment and relocation fees paid for to the NFL. Cleveland Browns took thier offer up about 6 months later. The Brown family are a low key group quite happy to have a financially secure franchise worth a few billion dollars.They have no desire to move like at all.

I have known the Brown family for a few decades.They are not moving and were never going to move. Maybe a few decades ago when the franchises financial situation was not secure. The Brown family basically owns 100% of the team now and it prints money by itself at 75-100 million a year in profits.

Would seem the parameters of a lease agreement are within reach between Hamilton County and Bengals.$350 million ask from the state in a $1.0-1.25 billion dollar renovation seems reasonable. https://www.fox19.com/2025/04/10/bengals-hamilton-county-seeking-350-million-ohio-stadium-renovations/