^Word.

Trent Germano (Lead Developer of The Banks and Vice Chairman of Carter) made a fantastic presentation on The Banks project at our Downtown Residents Council meeting last night.  As recording secretary I took lots of notes, but unfortunately haven't had time to clean them up yet.  I'll work on cleaning up my shorthand tonight and post his comments here later today.

 

As a teaser, if you're interested in getting on the waiting list for one of the three hundred apartments that will be part of phase one you might want to sign up for information updates on the http://www.thebankscincy.com/ site sooner rather than later

^ I'm anxiously awaiting the comments!

Anyone knw the price points for these?  Possible to get a 2 bedroom for $1200 a month?

The lead developer on the project said they are working out the pricing via a company that does that kind of work (can't remember the name of the company off the top of my head) and will have that answer in the next few days.  Sorry about not publishing my notes yet, but something came up last night.  I'll post them a bit later tonight.

Wouldn't they have a pre-completion lease rate? An incentive for early takers?

The Banks is moving along so nicely.  Ha do you all remember the day when we first saw a tractor start churning dirt? now look at it.

Dare you say...A Dirty Sandpit?

I'm half convinced he's your alter-ego.

I wish.

It looks for sure like the new garage will only extend south to Freedom Way, not all the way to the retaining wall holding up the existing but very temporary-looking Ted Berry Way. 

It seems like I'll never find the time to completely clean up my notes from the Trent Germano presentation, so below is my somewhat messy shorthand.  If something doesn't make sense let me know and I'll try to clean it up (or try and recall what was said precisely).

 

Trent Germano - Lead Developer for The Banks and Vice Chairman of Carter

As downtowners we are ahead of the curve of the future as downtown residents

The developer is just finishing the job - Fort Washington Way, Stadiums, Freedom Center, etc... are already in place

While initially discouraged by the politics they were impressed with the assets and inked an agreement that would move things forward

Can shift target mix of retail, business and residential (flexible zoning) between different types a bit per the agreement

Everything in the agreement between goverments and the developer is being done including having the riverside park done at same time

There are 18 acres to build out and they will do it all as fast as the market can absorb

There are 4 million people already heading down to The Banks area annually

Cincinnati area has 2 million people so not concerned about competition from other things happening in the city (e.g. Fountain Square development)

$80 million is currently being spent on the above ground/garage with governments funding the garages in a public private alliance

Apartment and retail in process (apartments now only because can’t work out financing for condos)

300 apartments will be built over 4-5 months

preserving green space in front of the freedom center to maintain view of the river

Retail will include entertainment, boutiques, bars and restaurants tailored to the urban fabric (shooting for 4 or 5 regional draws)

4 letters of intent, but cannot discuss until deals are finalized

investment partner United Services Automobile Association (USAA)

working to get some local businesses as well as places like Starbucks

Working with several different hotels (loft concept like Hotel Indigo???)

Actively working deals on business building

Possible future 30 units of for sale housing in south east corner, but still working to see if it is viable (financiers not currently too keen on the idea)

~1 million sq feet of office

Permanent additional nine foot outdoor seating setback in some of the area where the new roads were built (in addition to the sidewalk).

Separated and secure parking will be available for residential

Residential will have glass handrail balconies, etc...

The police will have a 4500 sq foot welcome center

LEED certification sought in many instances

website: thebankscincy.com

Outside LED lighting system will be implemented to highlight businesses, but still be conscious of residential component needs

Question on grocery stores - grocers worried about cannibalizing other stores and little interest - possibly in future phases

Question about residential leasing - 312 walnut next week (many already signed up for info online, but waiting list will more than likely be started)

Question about residential pricing - Village Green is doing pro forma research which is nearly complete

Question about retailers - not doing soft retail???

Thanks for the info!

A couple photos I grabbed last week at the Reds game. I'm sure the steel is even higher than this now:

 

 

I'm spending Monday afternoon around Cincy and can't wait to check everything out before the Reds game.  What can I expect after the 710 game as far as nightlife goes?

^Well, it's a monday, so I'm not sure how much will be going on.  Try the 6th and Walnut area though, and then go from there.

Yes.  I think if you are looking for bars that people will be frequenting post-game, you would want to check out Cadillac Ranch, Lodge Bar, Black Finn, etc. 

A couple photos I grabbed last week at the Reds game. I'm sure the steel is even higher than this now:

 

 

I'm spending Monday afternoon around Cincy and can't wait to check everything out before the Reds game. What can I expect after the 710 game as far as nightlife goes?

 

For pre-game, hit up Jean Ro Bistro on Vine between 4th and 5th.  12 craft beers on draft that are 1/2 off on Mondays. (you might pay $2.25 for a pint of Bells)

The Banks moving close to signing four tenants

 

By Lisa Bernard-Kuhn • [email protected]  • July 21, 2010

 

 

DOWNTOWN - Four letters of intent have been signed by prospective tenants interested in leasing space at The Banks riverfront development, officials said Wednesday.

 

No deals are final, but the potential tenants include at least two restaurant and bar venues of which one is a locally known operator, said Trent Germano, vice chair of Atlanta-based Carter which is partnering with the Dawson Co. on the $80 million project.

 

All told, developers are working to lease roughly 70,000 square feet of retail space that will compliment 300 apartments being built now off of Second Street and Freedom Way, between Great American Ball Park and the National Underground Railroad Freedom Center.

 

cont.

Just saw this on cincinnati.com  excellent news.  I remember when all of those terd faced naysayers were saying no tenants will sign there. 

yes good news.  i wonder what the other non-restaurant/bar ones are.....I'm guessing a North Face and a Diesel store.  ;) 

Just saw this on cincinnati.com   excellent news.  I remember when all of those terd faced naysayers were saying no tenants will sign there. 

 

I'm sure they'll still find something negative to say about this.

No one has any rumors yet about who the tenants will be?  In particular the "local" operator?   

^If we're talking restaurants, my guess is LaRosa's.  Unless Montgomery Inn is moving.  Of course it could be yet another Jeff Ruby steakhouse (yawn).

Good guess if it's a restaurant operator. I've always found it strange that there isn't a dine-in Larosa's downtown. Maybe there used to be?

 

But it also could be a local bar operator. Maybe 4EG?

The article says Restaurant & Bar venues so I'm guessing not LaRosa's (for now).  Ruby would sort of make sense, but I think opening something at the Banks would cannibalize his other restaurants downtown.  I was thinking maybe 4EG also - they seem to be announcing a new bar every month. 

 

Who else wanted the Fountain Square restaurant spot?

^If we're talking restaurants, my guess is LaRosa's. Unless Montgomery Inn is moving. Of course it could be yet another Jeff Ruby steakhouse (yawn).

 

I thought Montgomery Inn to the Banks was a big rumor at one time. My money's on them.

It would be nice to have a Dewey's downtown.

 

Good guess if it's a restaurant operator. I've always found it strange that there isn't a dine-in Larosa's downtown. Maybe there used to be?

 

I've heard there used to be a LaRosa's in the 580 building. 

I can not see Montgomery Inn leaving the Boathouse for what would be a much smaller space.

 

A Dewey's downtown would be awesome.

Dewey's is so overrated.  Hopefully it's a LaRosa's or a Gold Star flagship store. Skyline, Graeters, etc. all have their downtown locations already, so shifting from there to the Banks wouldn't be a net gain at all.

 

Also, LaRosa's is only marginally better than Dewey's.  Adriatico's is the best pizza in Cincy.

The article says Restaurant & Bar venues so I'm guessing not LaRosa's (for now).

 

The LaRosa's in Florence has a small bar, so anything's possible.

 

 

Dewey's is so overrated.

 

False.  :-D

 

 

But it also could be a local bar operator. Maybe 4EG?

I was thinking maybe 4EG also - they seem to be announcing a new bar every month.

 

I like most of 4EG's bars, so I'd be happy to hear this.  They seem to pick up existing, underperforming properties though, so this would be a departure of sorts for them.

Even if Dewey's is overrated, it's still a hell of a lot better than LaRosa's or a Gold Star. 

Come on, a coney in one hand and a Hudy Delight in the other? In a brand new "The Banks" Gold Star Bar?  I think heavenly is the word one would use to describe that.

Dewey's is so overrated.  Hopefully it's a LaRosa's or a Gold Star flagship store. Skyline, Graeters, etc. all have their downtown locations already, so shifting from there to the Banks wouldn't be a net gain at all.

 

Also, LaRosa's is only marginally better than Dewey's.  Adriatico's is the best pizza in Cincy.

 

You are so right about everything, except the last.  The only pizza in Cincinnati I would even try to brag about is Pomodori's, cause its real wood fired pizza.

 

 

I prefer Skyline, and I don't drink beer.  :P 

Dewey's is so overrated. Hopefully it's a LaRosa's or a Gold Star flagship store. Skyline, Graeters, etc. all have their downtown locations already, so shifting from there to the Banks wouldn't be a net gain at all.

 

Gold Star has their flagship downtown location exactly where they belong. In a food court.

 

 

^this Gold Star hatred is crazy.  It is way better than Skyline.

 

As for the Banks, it needs a City BBQ.

I doubt it would be a Dewey's.  There's one in ludlow and one at the AMC. 

Speaking of Skyline, are they going to change their logo to include QCS?

Dewey's is so overrated. Hopefully it's a LaRosa's or a Gold Star flagship store. Skyline, Graeters, etc. all have their downtown locations already, so shifting from there to the Banks wouldn't be a net gain at all.

 

Also, LaRosa's is only marginally better than Dewey's. Adriatico's is the best pizza in Cincy.

 

You bitches is crazy. Deweys and LaRosa's are apples and oranges. And Adriaticos is over-spiced college schlock, we used to eat it in my dorm at OSU!

Personally, I think Deweys would work better at Ft. Square than it would at the Banks. A Ruby place would be good down there. Afterall, he has 3 other places in the downtown area and they seem to do fine (although for some reason he has not had much success in Newport).

%$#@ chili or pizza!!  Ron's Roost needs a second locale along with their traditional exterior design. :wink:

^Where is that?  Also, Dewey's would seem to work better at fountain square than the Banks.  To me the Banks screams, adult playground - beer garden, serious riverside restaurants, museums, stadium etc.  Dewey's is more of a family friendly establishment that would work better around the square.

^That's over in Western Hills, down the street from Western Bowl.

 

Personally, I think Deweys would work better at Ft. Square than it would at the Banks. A Ruby place would be good down there. Afterall, he has 3 other places in the downtown area and they seem to do fine (although for some reason he has not had much success in Newport).

 

I agree that Deweys would be better at Fountain Square, but I think it would work at The Banks as well.  I really hope we don't get another Ruby restaurant (at least not one in the same vein as all of his others).  It's not that they're bad, they just don't offer much variety and are overpriced.  Also though I've never seen his "books", his closing of Tropicana in Newport seems to have had more to do with him being sued over the naming rights (and not having the ability to rebrand Tropicana while planning Booty's) than it did with profitability.  That place was always packed, even on weeknights.

 

 

^ That suprises me. I had always thought that he closed Tropicana because it wasnt profitable and he used the lawsuit as an excuse to save face. 

 

Although I don't know Ruby, I have had drinks with him a couple of times while with friends that know him and he speaks pretty candidly about how his businesses are doing.  He said that he thinks that the downtown restaurant market is beyond its saturation point and can't continue to add new restaurants without others going out of business.  This was about a year ago.  If he still thinks that he may be hesitant to open another place downtown. 

^That's certainly possible.  Like I said, I'm not familiar with the financials of that restaurant.  But knowing what the markup on alcohol is, and seeing how much business they did in the evenings when they basically became a club, I'd be surprised if they were actually losing money.  Maybe they just weren't profitable enough to justify the hassle of rebranding.  Tough to say.

 

In any case, I'd love to see something that feels more local than a Ruby place (though they are local).  An Izzy's would be cool, but I think they already have a nearby location.

I think the banks could support a range of food and entertainment options. Not sure I could classify it as "adult" or "family," seems like it could be anything to anyone. Not so sure about a range of retail options, but I'm not a retail expert.

 

 

Really I don't want the Banks to cater to everyone - I get tired of places feeling like they  have to do that.  Give me a serious place to have a drink, have a meal, and watch a game.

Well... considering its meant to be a neighborhood and not a shopping mall, I think it would be a mistake to NOT include a diverse mix of retail and restaurant offerings so that the residents (for whom this is ultimately being built) have most of what they need within their neighborhood.

Will people be living there? Yes. So it is either a neighborhood or part of the larger CBD/Riverfront neighborhood. Either way, with people living there, you need to have the things they need there. And you will have a mix of residents: men, women, couples with no children, couples with children, people who like sports, those who don't, etc. There need to be options. It can also have those places (a la the Lager House) that will be a destination. But In my opinion, it is first and foremost a neighborhood.

Give me a neighborhood that doesn't cater to 14 year old brats.