Tower crane confirmed.  Up and running this morning.

From Sunday:

The Banks gets crane to move construction forward

Bowdeya Tweh, [email protected] 11:45 p.m. EDT May 19, 2014

 

A tower crane is the latest addition to The Banks, preparing for construction of a nine-story building that will house new apartments and commercial space.

 

About 291 one- and two-bedroom apartments and 19,000 square feet of retail space are expected to be built in a more than $67 million development along Cincinnati's riverfront. This portion of the project, called Phase IIA, is expected to be finished in early 2016.

 

Phase IIA is being built on top of the Central Riverfront Garage and encompasses an area from Rosa Parks on the east to Race Street on the west, and Freedom Way on the south and Second Street on thenorth. Future development could include offices, more apartments or a hotel.

 

http://www.cincinnati.com/story/money/2014/05/19/banks-construction-underway/9277711/

Here are the state incentives approved for General Electric

Tom Demeropolis Reporter- Cincinnati Business Courier

 

 

The Ohio Tax Credit Authority approved an 85 percent, 15-year job creation tax credit for General Electric Co.’s plan to open its new Global Operations Center in southwest Ohio.

 

The value of the incentive plan is estimated to be worth $51.6 million over the life of the 15-year deal.

 

http://www.bizjournals.com/cincinnati/news/2014/05/20/here-s-the-state-incentives-approved-for-general.html

Here are the state incentives approved for General Electric

Tom Demeropolis Reporter- Cincinnati Business Courier

 

 

The Ohio Tax Credit Authority approved an 85 percent, 15-year job creation tax credit for General Electric Co.’s plan to open its new Global Operations Center in southwest Ohio.

 

The value of the incentive plan is estimated to be worth $51.6 million over the life of the 15-year deal.

 

http://www.bizjournals.com/cincinnati/news/2014/05/20/here-s-the-state-incentives-approved-for-general.html

 

Was there anything in the approval which said where the money needed to be spent, other than in southwest Ohio?

Here are the state incentives approved for General Electric

Tom Demeropolis Reporter- Cincinnati Business Courier

 

 

The Ohio Tax Credit Authority approved an 85 percent, 15-year job creation tax credit for General Electric Co.’s plan to open its new Global Operations Center in southwest Ohio.

 

The value of the incentive plan is estimated to be worth $51.6 million over the life of the 15-year deal.

 

http://www.bizjournals.com/cincinnati/news/2014/05/20/here-s-the-state-incentives-approved-for-general.html

 

Was there anything in the approval which said where the money needed to be spent, other than in southwest Ohio?

 

I doubt it. Why would the state care? They probably didn't even put "southwest" in the language of the grant. Hell, the state is probably hoping GE reconsiders and goes to Franklin County.

Somewhat off topic,  but this Sunday finally made it to the Banks.  Walked from Belleview Park all the way down to the river. 

 

Is it just me or is this development somewhat underwhelming?  I get the concept of a aftergame party space for the stadiums where those bars/restaurants are, but that park is lacking somehow.   

 

Dont understand whats up with that Lawn House (?) restaurant next to the Freedom Center.  Is that really the right building for such a prime time location?

 

And there seems there was a possibility of doing something really good with that elevated grassy terrace and walk between the Morlein Ale House and that fountain thing by the Robeling Bridge (which is neat & probably interesting at night with the lighting).....maybe something more like Fountain Square, with tables and chairs so you can sit and watch the park and river....a true terrace with maybe cafe/waiter service like you'd have in Germany. 

 

I am really interested in how they deal with the 'city side' of the park.  So far there is The Current (doesnt look finished on the ground floor yet), but there is a lot of open space to build on toward the ballpark.  How that edge is addressed by whatever new building is going to be interesting. 

 

 

I did see they made the pedestrian connection with Yeatmans Cove by that Steamboat Monument.  Funny how the Smale Park riverfront walk sort of ends at...a little pine tree and some landscaping, then you take a little bend and are on the sidewalk along that roadway.   

 

The lawn area and that civil war garden was nice, though.  Be really nice when they finish it off on the west side of the bridge. 

 

I need to come back here on a nice weekend afternoon to see how this place is actually used.  The Ale House could be great for a beer, if they have terrace seating or open the windows.

The Lager House does have outdoor seating.  It has been, by all accounts, a huge success.  As for whether that building is the right use for that location, it's actually in the parks, not at the Banks.  Fairly sure that is the only real "building" that is going to be in the Smale Riverfront Park. 

 

I have been pleasantly surprised with how used the riverfront park is already.  There are always folks down there jogging/walking/using the front porch swings, and I think it's going to be even more so when they get the rest of the park done.  And the entire area is a lot more active whenever there is a game. 

 

I will say that, as someone who jogs down thru both Sawyer Point and the Riverfront Park fairly often, I NEVER see anyone at Sawyer Point, but I always see people in the Riverfront Park, for whatever that is worth. 

I will say that, as someone who jogs down thru both Sawyer Point and the Riverfront Park fairly often, I NEVER see anyone at Sawyer Point, but I always see people in the Riverfront Park, for whatever that is worth.

 

I'll have to disagree with you. Living near Sawyer Point, I see activity there all the time. The tennis courts get a lot of use even with the change from free to paid use in 2013. You'll see families daily at the playground/picnic area. And the bike rental at Yeatman's Cove appears to be doing very well on weekends as well as evenings.

 

Also, from May through September there isn't a weekend that the skating rink doesn't have an event tent(s) up and rented out for a party.

We need more density on the all along the Riverfront, but especially east of US Bank Arena. That would bring more regular usage to Sawyer Point. 

 

But at least our surface parking problem isn't as bad as it was back in 1973:

 

 

More photos here: https://www.flickr.com/photos/usnationalarchives/sets/72157622329537002

There were plans for 15~ floor condo towers between US Bank and the so-called Purple People Bridge up until the housing collapse.  Montgomery Inn tore down their banquet center in anticipation of that project.  That lot is still there and presumably something big will be built there in the future.   

The Lager House does have outdoor seating.

 

Yes, I noticed that, and on two levels, too!  I also noticed they have these little wood planters on wheels, which makes me think they could wheel those out to extend their seating area, which would be nice. 

 

@@@

 

I do like that there is now a continuous park system of sorts all along the riverfront...Sawyer-->Yeatmans Cove--->Smale.

 

...and I happen to like Sawyer Point (and Smale Park, despite my gripes) better than that Riverfront Park in Louisville, which is too high-design for my taste.  They seem more the traditional park (esp. Sawyer Point).

 

 

 

 

So....what is planned to go in next to The Current?

I will say that, as someone who jogs down thru both Sawyer Point and the Riverfront Park fairly often, I NEVER see anyone at Sawyer Point, but I always see people in the Riverfront Park, for whatever that is worth.

 

I'll have to disagree with you. Living near Sawyer Point, I see activity there all the time. The tennis courts get a lot of use even with the change from free to paid use in 2013. You'll see families daily at the playground/picnic area. And the bike rental at Yeatman's Cove appears to be doing very well on weekends as well as evenings.

 

Also, from May through September there isn't a weekend that the skating rink doesn't have an event tent(s) up and rented out for a party.

 

Well I have to disagree with you!  ;) 

 

My mileage may of course vary.  And it may be more the Yeatman's Cove part I am thinking of than what is more properly considered Sawyer Point. 

 

I do like that there is now a continuous park system of sorts all along the riverfront...Sawyer-->Yeatmans Cove--->Smale.

 

Don't forget Friendship Park. It's fantastic.

 

 

I do like that there is now a continuous park system of sorts all along the riverfront...Sawyer-->Yeatmans Cove--->Smale.

 

Don't forget Friendship Park. It's fantastic.

 

 

Although the sidewalk connecting them is heavily used, they should take those parking spaces butted up to the sidewalk near the river and expand the sidewalk and/or incorporate something green on the other side of the sidewalk. When I run down there, you always have to step aside or even pause to allow traffic (runners/cyclist/baby strollers).

^Near the parking lot by the Boathouse?  Definitely!

^Near the parking lot by the Boathouse?  Definitely!

 

Yes, take away all of those parking spaces (friendship park and Boathouse) that are butted up to the sidewalk.

I see the same type of issue there EVERY time I walk through.  This weekend, a family in one of those rented 4 seater vehicles (not sure if they are pedal bikes or what, but they're the size of a golf cart) was going across that area.  Literally every pedestrian, bike, and stroller had to move into the parking lot to get out of the way.  Not really anyone's fault, but that pinch point definitely needs to be reworked.

^The narrow sidewalk chokepoint between Sawyer Point and International Friendship Park is horrible to navigate on a bike.  It's exacerbated by the fact that you can't just ride through the parking lot because there is a barrier up to split the lot into one half for the Boat House and one half for the park.  Perhaps this is an issue for our newly minted All Powerful Bike Lobby to take on?  :-) (I saw that term online recently, I dont know who coined that term, but its pretty funny.)

 

GE’s deal is the ‘granddaddy of tax credits’

Tom Demeropolis Reporter- Cincinnati Business Courier

 

The job creation tax credit awarded to General Electric Co. Tuesday for its planned Global Operations Center in Southwest Ohio is one of, if not the largest, tax credit in Ohio’s history.

 

Doug Moormann, principal of Government Strategies Group LLC and former vice president of economic development at the Cincinnati USA Regional Chamber, said GE’s tax deal is “the granddaddy of tax credits.”

 

http://www.bizjournals.com/cincinnati/blog/2014/05/ge-s-deal-the-granddaddy-of-tax-credits.html

A big GE Operations team dined at the restaurant I work at downtown, I was told to expect an announcement soon. The Vibe I'm feeling seems to be Downtown/ The Banks but who knows.....

Hope you're right.

GE selects The Banks for new operations center

Kara Foxx,  Jun 18, 2014

 

Sources tell FOX19 Investigates that General Electric has selected The Banks as the location for their new global operations center.

 

Mason and Oakley were also vying to be the location, but sources say negotiations between The Banks officials and GE were settled on Wednesday. The official announcement is set to be made on Friday.

 

The headquarters could bring in 1,400 plus jobs to the area.

Read More

Awesome.  I was a bit worried other factors would influence their decision but deep down (from the gut as old Jack Welsh would say) I knew this would fit GE's culture the best.

Great News!!!  Cannot be understated how much this will lift downtown into the stratosphere.  In my opinion, all signs were pointing to this.

 

I predict lots of spinoff development as well from companies that work with GE.

 

Also, this guarantees the runaway success of the streetcar and the respresents the best hope for bringing light rail lines into the Riverfront Transit Center (perhaps from CVG?)

This is awesome news. It's funny though, I'm not finding myself at all surprised. Which I think is good. The fact that it basically seemed like a given they'd choose The Banks is just another sign that Downtown is thriving and on the upswing. Can't wait to see what GE comes up with for a building.

HELL YEAH!

So do we know for sure exactly what location at The Banks the GE building will be sited?  Will it be the SE corner of 2nd and Walnut for sure?

Yay!!!

Awesome!

Good news!  Will definitely be good for attracting further Banks/Downtown development.  Also agree that it helps with the draw for more transportation options using the RTC.

Great to know that The Banks will be mostly finished and occupied by 2016 -- the 20-year anniversary of the stadium tax. 

Awesome news. Good choice, GE.

Hope this jump starts finishing the two building pads and one unoccupied space in Phase 1.

Great news!

Has there been anything to indicate that GE would build and occupy the Phase 1 office tower? Everything I've read on the topic points to them building an office tower in the Phase 2 block.

Hope this jump starts finishing the two building pads and one unoccupied space in Phase 1.

 

Or the alleged Aloft Hotel.

Hope this jump starts finishing the two building pads and one unoccupied space in Phase 1.

 

Or the alleged Aloft Hotel.

 

The Mallory administration was talking to Aloft about The Banks, but I doubt the Cranley administration will be able to (or want to) close the deal.

Hope this jump starts finishing the two building pads and one unoccupied space in Phase 1.

 

Or the alleged Aloft Hotel.

 

The Mallory administration was talking to Aloft about The Banks, but I doubt the Cranley administration will be able to (or want to) close the deal.

 

I think we all now know that Cranley only seeks to destroy any deal started by Malloy.

I am pretty sure GE will go into the Phase 2 tower. Plans have the building at 11 stories.

How long before Mike Brown ties this up with some bs clause from the Bengals lease?

^ That has already been taken care of.

 

Cranley: GE hasn’t told me it’s made a decision on operations center site

 

“I have not been told that any formal decision has been made,” Cranley told reporters, adding that he doesn’t believe the company has made a decision.

Surprise, they're keeping little Napoleon out of the loop. And he can't fathom that being the case.

 

A little more info....

 

 

Date set for General Electric-Banks agreement

Tom Demeropolis Reporter- Cincinnati Business Courier

 

 

General Electric will make its upcoming move to the Banks official Monday.

 

Multiple sources confirmed to the Business Courier that GE will locate its new Global Operations Center at the Banks. The center initially will be home to 1,400 employees, a number that could grow to as high as 2,500 jobs, according to submissions to the Ohio Tax Credit Authority.

 

http://www.bizjournals.com/cincinnati/news/2014/06/19/date-set-for-general-electric-banks-agreement.html

Will Cranley be there?

Great news!  The whole city will gain a lot of momentum with this decision.  It's going to be great when the all star game comes here next year and all of the out of town people see all of this new construction going on.  Just wish the streetcar could have been finished by then. 

 

EXCLUSIVE: Castellini helped seal the deal to bring GE to the Banks

Tom Demeropolis Reporter- Cincinnati Business Courier

 

 

Bob Castellini was a major driving force behind sealing the deal for General Electric to locate its Global Operations Center at the Banks, sources tell the Courier.

 

Castellini, CEO of the Cincinnati Reds, chairman of the Joint Banks Steering Committee and owner of the Castellini Group of Cos., has been working hard behind the scenes for the past two weeks.

 

http://www.bizjournals.com/cincinnati/news/2014/06/19/castellini-helped-seal-the-deal-to-bring-ge-to-the.html

Castellini: I get s$#t done.