Hmm. Other than Ruth's Chris, and Holy Grail which is already open, I'm not bursting with excitement about any of these announcements...

 

Ps Thanks for the parking info OC

 

As I alluded to in my last post, just pretend the Brewery is part of the Banks and then it makes the group of proposed opening tenants seem much better.

Tin Roof will only occupy 5,000-square-foot so they must be going in on the east side of the Police Welcome Center.

 

Picture of the space looking northeast towards Holy Grail and GABP. Police Welcome Center is directly to the left:

And Johnny Rockets sign installation:

In the past I would take my kids and out-of-town friends downtown to eat and look for something to do.  Now I have to decide if we're going to Fountain Square, OTR, Backstage, Main Street, or the Banks (soon).  Too many choices, but a good problem to have!

I'll give it this: Even with a rather homogeneous mix of initial tenants down there, it's increasingly likely that Cincinnati's center city is poised to flatten all but Chicago's, especially if the Banks, OTR and downtown can build out without cannibalizing each other. Not even Minneapolis or Columbus are poised to have so many moving pieces click into place simultaneously. Rather like firing off a cannon.

I have found a bright side to most of the announcements at the Banks, but WTF is the deal with two chain country music bars at the Banks?  Cincinnati has been doing just fine with none, so adding one...I suppose it's something new.  But two, really??  Maybe they can fill the rest of their spaces with piano bars.  If they need a chain I would have rather seen a House of Blues type venue down there than a a second country bar.  Maybe they'll sell wrist bands that get you into both bars during the weekend and have a mini redneck Midpoint. 

^ ya- I don't think they'll both last.  They attract the exact same crowds.

^-The Country music statement was a misreading of the original press release, it was corrected in the article.

 

From the Enquirer comment board:

 

My mistake....I misread the press release. I just fixed it. The bands will be from around the country, not country bands. Sorry about that! -- Laura Baverman

Yeehaw!

MUCH Better.  Now I think this venue might be good!  At first it seemed that there would be TWO country venues in 1 block of the Banks and that was just overkill.

The opening of Johnny Rocket's appears to be imminent.  I walked by last night and the place looked completely finished and a group of managers were having a meeting.  It has a walk-up window instead of a drive-thru. 

^lol, I just walked by and a guy was outside on his mobile phone having a heated conversation about delays in opening and contacting a CEO of whatever company is to blame.

 

Ribbon cutting is 10/27 per this: All-American Restaurant Hits Homerun with Opening at Cincinnati's The Banks

The Tin Roof in Lexington has a mix of pop-rock from the late 90's to 00's with live bands usually doing covers of said time period. It was an alright atmosphere and got downright packed on thursdays, but thats probably just a college town thing.

^ Do they play a lot of Nickelback?

I've been to the Tin Roof in Nashville.  It's in a strip mall near Vanderbilt, so I don't need to waste any words describing the "atmosphere".

I'll give it this: Even with a rather homogeneous mix of initial tenants down there, it's increasingly likely that Cincinnati's center city is poised to flatten all but Chicago's, especially if the Banks, OTR and downtown can build out without cannibalizing each other. Not even Minneapolis or Columbus are poised to have so many moving pieces click into place simultaneously. Rather like firing off a cannon.

 

Cincinnati has great momentum, no doubt, but flatten Minneapolis?  It's not even an apple's comparison.  For starters, the downtown population is about 35,000 compared to Cincinnati's ~8000.  It would take quite a lot of momentum to catch that.

 

Riverfront-

New Mill Ruins Park integrated with city wide Grand Rounds system, stone arch pedestrian bridge, and Pritzker Prize winning Guthrie (http://www.nytimes.com/2008/03/31/arts/design/31prit.html)

 

Major proposed residential-

2 30+ story apartment towers and a large Whole Foods-anchored project ( http://tinyurl.com/6j222ox

, http://tinyurl.com/62xsamj , http://tinyurl.com/635s2du).  This is among many other smaller projects.

 

Hotels-

New W, Hilton, and Aloft

 

Retail-

Existing multi-level Target, Lund's grocery under construction

 

Entertainment-

2nd year Target Field drew the 4th highest season attendance in the MLB in 2011 and is integrated into a thriving 1st ave entertainment district.

Hennepin Ave theater district helps Minneapolis have 2nd highest per capita # of theater seats outside of NYC, add to this a newly renovated Shubert used for a dance center.

 

Office-

Target recetly made a large land acquisition across from its HQ and speculation is they are building a new another tower (its third)

 

Transit-

LRT to Mall of America and airport already operational

New $1bln line to St. Paul under construction (with support of a then-GOP governor)

New commuter rail operational

High occupancy toll and other transit advantage lanes feeding downtown and new dedicated bus lanes on downtown streets

Proposed $70mln transit center for linking rail lines

Proposed $900m LRT to SW suburbs breaking ground in 2014.

 

Biking-

Comprehensive bike share program

100 miles of dedicated ROW bike lanes, many feeding downtown.

 

I am not even going into what is happening in the Uptown and University areas.  I am amazed at how much my hometown changes every time I go back for a visit.

 

Cincinnati has great momentum and is forging ahead with some great work, but really, I think these projects are allowing it to keep pace.

 

The Banks apartments are suburban quality buildings with anytown-USA tenants done with heavy public subsidy.  It needed to be done and is enhancement to be sure but is really pretty average.  OTR, however, is really unique among major cities and represents Cincinnati's best opportunity to stand out.

 

Actually, I am from Minneapolis. It is a great city. It is certainly a league above Cincinnati in size.

 

However, it's arguably a bit bland. It's a classic flat, Midwestern metropolis of broad streets and fine houses. There are some bursts of urbanity, certainly, like Nicolett, but the city really doesn't have a strong genius loci despite its considerable metrics. It's on a prairie, the river is somewhat in the background, and it lacks a rich historic context.

 

Cincinnati is practically ancient by inland American standards, is relatively intact, and has a very dramatic (again, by inland standards) waterfront location. It has things, despite its small size, that most Midwestern cities will just never have.

PS I agree about The Banks architecture, I've already made my laments around here about that. But the project itself retains its merits.

I'd agree totally with the lack of quality of The Banks apartments.  I was told to not be fearful when walking out on the balcony of one of the apartments because they apparently always shake by design.  Then there are the unpainted wooden beams that hold them up that look really, really tacky.  I could go for an entire page with many design flaws and poor materials.  I would have to imagine if they were being sold as condos most people would take a pass.

Johnny Rockets is now open!  We were standing outside having a beer on the Freedom Way side of Holy Grail prior to the UC game today, and saw the servers across the street waving at everyone to come in.  So we went over and had lunch.  There was a decent crowd inside, but very little signage outside to indicate they were actually open. The burger was ok, and the staff was very friendly.

From The Banks Twitter account: Commemorative plaques honor @Reds and @Bengals on the former site of Riverfront Stadium at The Banks

 

Picture:

 

http://twitpic.com/75mi8s

 

 

Press release:

 

Messer / MBJ Consultants marks Reds and Bengals Riverfront Stadium sites with commemorative plaques at The Banks

 

CINCINNATI, OH (October 25, 2011)  As The Banks neighborhood grows between Great American Ball Park and Paul Brown Stadium—on land that was formerly Riverfront Stadium—it is only fitting that the project pays homage to this former home to both Cincinnati professional sports franchises.

 

Messer / MBJ Consultants, construction manager for The Banks project, recently placed two plaques in the concrete floor of Central Riverfront Garage, part of the Intermodal Transit Facility below Freedom Way East and the structure that supports residential, dining and entertainment development at street level.

 

The two brass plaques—one for the Cincinnati Reds, one for the Cincinnati Bengals—identify two noteworthy locations in the former ballpark: the exact sites of the Reds home plate, and the Bengals end-zone goal post in the former Riverfront Stadium.

 

The plaque on the site of Cincinnati Reds home plate replicates the shape and size specifications of a major league baseball home plate. Both plaques commemorate the on-field accomplishments of their respective franchises. The Reds 1975, 1976 and 1990 World Series titles are prominently displayed on the home plate plaque; and the Bengals’ 1981 and 1988 AFC Conference Championships are noted on the football.

 

“Messer/MBJ Consultants is proud of its work on The Banks, and equally as proud of our professional sports teams. The Cincinnati area along the Ohio River is rich in history—and these plaques are intended to document that history, as The Banks continues to enrich, enliven and extend the history of Cincinnati’s riverfront by commemorating these important landmarks,” said Mark Luegering, senior vice president for Messer Construction Co.

 

The two landmarks should serve as great conversation starters for people who happen upon them while using the intermodal transit facility for years to come. 

Johnny Rockets is now open!  We were standing outside having a beer on the Freedom Way side of Holy Grail prior to the UC game today, and saw the servers across the street waving at everyone to come in.  So we went over and had lunch.  There was a decent crowd inside, but very little signage outside to indicate they were actually open. The burger was ok, and the staff was very friendly.

 

They have milkshakes with booze in them

A lot of times when a business first opens up, they don't get to open with all the intended signage in place because it's running late, the wrong size accidentally came or whatever. The choice is to either go ahead and open and make some sales or wait for the signs to arrive while paying rent. It kinda sucks, but you just gotta open up.

Tried out the Johnny Rockets tonight. (Ironically, we managed to time our meal during Seattle's offensive coup, and left right before the Bengals came back to score all those 4th quarter points.)

 

It was about 1/4 full. The food was unremarkable. I couldn't quite decide what kind of vibe they were going for. Polished burger joint chrome booths and overzealous waitresses, but with a full bar of men drinking and muttering at the football game.

 

That was the first time we'd used the (ENOMROUS) main garage, though, so that was interesting. I think next time we'll just go to Holy Grail.

Ate at Huey's in NYC the other day. Interesting vibe, pretty upscale for a diner. Sounds like it will compete head to head with Johnny Rocket's new upscale concept. Service was slow but the food was pretty solid. Not really a ringing endorsement but I'll probably stop by every once and awhile.

Tried Johnny Rockets via their carry-out window last week. They don't have "combo-meals" so my Bacon Single Cheeseburger, Onion Rings, and a drink was $16.22. $16.22!! Their onion rings were terrible and the burger was just so-so.

My chicken salad and beer was only $11. Hmmmm. . . .

Banks Monthly report is out! Highlights include:

-Apartments 95% rented

-Toby Keith's on target to open by the end of the year

 

See more: http://www.thebankspublicpartnership.com/sites/default/files/IDMA%20September%20Monthly%20Report.pdf

 

 

 

Yeah, I'm not too pleased with the "new" Johnny Rockets. It was overpriced at the Newport location under the old format, and the food was mediocre. I guess the beer was okay, but nothing that you can't get elsewhere.

 

Thanks JYP for the update - good to see The Banks rent out at 95%, and with OTR practically at 100%, this should be good momentum to see more apartment conversion and new apartment development projects get off the ground.

So....

 

What's next for the Banks?  When do they start on the western blocks?  Is there any NEW Banks related construction in the next year (other than storefronts filling up)?

^ I looked at that report hoping that it would answer the very same question. I'm disappointed to see that they're stopping with the parking garage on phase 2 for now. I would hope with the buzz going on with phase 1 that phase 2 would be above ground by now.

General doubts about the national and global economy may be what is keeping them from moving forward with new construction as much as anything local.

The economy has been at a fucking standstill for nigh-on four years and they lease up almost 100% of their residential units as soon as these projects are finished. It's got to be something other than the economy.

Blaming "the economy" is not a legitimate excuse at this point.  It should be clear by now which projects work and which don't.  Strip malls and McMansions aren't in demand.  Meanwhile, apartments are almost completely filled in The Banks Phase 1, Downtown, and the Gateway Quarter. (What was Stephan Louis saying about "no one living downtown"?) Start building The Banks Phase 2 now.

OCtoCincy, you need to post something NOW!  You're at Rhodes Tower status...yuck.  ;)

 

I agree with the rest of you that now is the time to jump on Phase 2 of the Banks, but the report doesn't even mention Phase 2b...is it even planned?  I haven't seen any renderings beyond some glass-block massing model from a decade ago. 

This is the one on the Banks Facebook page. It would be pretty easy to construct the northern block between Race & Vine because the garage is already built. The south block would take a bit longer but seems to be the most residential block of the next phase.

 

95%...that's great! Why wouldn't they continue to build the residential part of Phase 2? Stupid!

 

Putting more people down there would help out the business portion of Phase 1, and it would give Smale Park a boost. Not to mention the best reason, being it is a good idea on its own merits. They'd be guaranteed to fill the housing up instantly.

Last year, when approving a loan to help the banks move in more tenants faster, Council considered adding a clause that said they had to start construction on the western buildings in 2012- The developers fought it and it got shot down.  Which seemed to mean to me that there would be virtually NO new construction in 2012.  Disappointing!

Have all of those 95% people moved in?  I definitely can tell people are living there, but it still doesn't seem fully occupied. 

Last year, when approving a loan to help the banks move in more tenants faster, Council considered adding a clause that said they had to start construction on the western buildings in 2012- The developers fought it and it got shot down.  Which seemed to mean to me that there would be virtually NO new construction in 2012.  Disappointing!

If they had watered it down with contingency on Phase 1's occupation, both parties might have agreed to it. And we'd be seeing construction starting!

Just because they didn't want to be compelled to start new construction in 2012 doesn't mean they won't. Still, getting all the profit they can from phase 1 is probably more appealing to them, a new hotel by the reds stadium being the most appealing next step.

I wonder why the Reds/Castellini haven't expressed interest in building a hotel there. They could bundle tickets with rooms, determine what sort of view people might get of the field from their rooms, etc.

Last year, when approving a loan to help the banks move in more tenants faster, Council considered adding a clause that said they had to start construction on the western buildings in 2012- The developers fought it and it got shot down.  Which seemed to mean to me that there would be virtually NO new construction in 2012.  Disappointing!

 

They probably just didn't like the inflexibility of that clause. Gotta have a parachute.

Building the second phase now would have allowed them to capture a lot of the remaining demand for high end rental housing in downtown. Now that Phase I has proven successful, don't be surprised if you something similar coming out of the ground in NKY sometime next year.

Another developer ought to build a similar apt building over at the foot of the Purple People Bridge in that open space

That was supposed to be two 13 story condo's a few years ago. It'd be a great place for apartments!

It does seem that the market for apartments and more modest condos is better than ever. Downtown is perfect for this,but it is a matter of financing. 3cdc shows how you can get financing without the new york banks. Maybe a local real estate investment trust could be formed to fund this market akin to the local venture capital funds rivercity and cincytech. They wouldn't do the the development as 3cdc does, they would just fund anyone who wants to do it in and near downtown. The return on investment wouldn't have to be very high for it to still be appealing to many investors.

If there is no new construction for the next year or two, why not focus on filling some of the long-abandoned buildings along Third Street? I know it's technically not The Banks, but there are strings of historic yet dilapidated buildings at Third and Race, Third and Main and there's that at least 10-12 story red brick tower at Third and Race that's seemingly been empty for ages.

 

If there is no immediate development imminent at Phase 2 of The Banks, maybe it's time to focus on some of these vacant near-Banks buildings that see plenty Banks- and stadium-related foot traffic outside their front doors.

^-I've always wondered why the Buildings at Main and 3rd which are excellent Victorian downtown buildings are vacant?  Its a good location and would be a great place for retail and apartments.  Any thoughts?

^-I've always wondered why the Buildings at Main and 3rd which are excellent Victorian downtown buildings are vacant?  Its a good location and would be a great place for retail and apartments.  Any thoughts?

 

What I had always heard but I have no proof of this is that the owner(s?) was holding out to sell to the developer of Atrium and that would be the site of Atrium III.  A hitch is that 6 building block is on the National Register of Historic Places.  What I am unsure of if that really is a hitch 'cause they could still be torn down, or if they are just holding out hope for an Atrium III which may or may not ever come.